February 13, 2017 – In observance of the Washington’s Birthday holiday, the Loan Syndications and Trading Association (LSTA) recommends treating Monday, February 20, 2017 as a loan market holiday for purposes of calculating delayed compensation under the LSTA standard forms of trade confirmation.
Delayed compensation accrues on loan market trades that do not settle within a set number of business days after trade date. Business days do not include Saturdays, Sundays or any day the Federal Reserve Bank of New York is closed. The LSTA recognizes both the New York Stock Exchange and the Federal Reserve Bank of New York holiday closings when making its recommendations. Both will be closed on Monday, February 20 in observance of the Washington’s Birthday holiday.