In observance of Thanksgiving Day, the Loan Syndications and Trading Association (LSTA) recommends treating Thursday, November 28, 2019 as a loan market holiday for purposes of calculating delayed compensation under the LSTA standard forms of trade confirmation.
We discuss simple daily SOFR in arrears, the latest in the secondary market, a new LIBOR resource we’re providing, and some SOFR tools. We also provide an overview of the loan market holidays for 2019 reminder you to use the LSTA job board if you’re looking for a job or to fill a position on your staff.
This week, we start by announcing that the LSTA is developing a “SOFR Compounded in Arrears” concept credit agreement. It is one more tool to help members internalize what a SOFR Loan Market might look like. Next, we provide an updated suite of documents on Primary Delayed Compensation. Finally, we offer a brief update on LSTA […]
Draft of the Par/Near Par Trade Confirm
This draft is blacklined against the current LSTA Par/Near Par Face confirm dated August 12, 2019
This week, we start off discussing the future – or lack thereof – of LIBOR in NYC (with the FRBNY) and Miami (through ABS East). We turn to markets, cataloguing the slowing secondary in August (and July, and June…) and explain why. We – and our friends – continue to defend loans; we share yet […]
This presentation was done at the 25th Annual ABS East Conference that took place in Miami, FL. It was presented by our very own Ellen Hefferan along with Linc Finkenburg of Perkins Cole, Nitish Idnani of Deloitte & Touche LLP, Ben Jordan of Wilmington Trust and Cindy Tjoe of KPMG LLP. We discussed how one […]
The LSTA has developed this flowchart to illustrate how Secondary Delayed Compensation on Post Funding Trades is to be applied on a step-by-step basis.
The LSTA has developed this flowchart to illustrate how Secondary Delayed Compensation on Early Day Trades is to be applied on a step-by-step basis.
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Membership in the LSTA offers numerous benefits and opportunities. Chief among them is the opportunity to participate in the decision making process that ultimately establishes loan market standards, develops market practices, and influences the market’s direction.