In observance of Juneteenth, the LSTA recommends treating Monday, June 19, 2023, 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 the trade date. Business days do not include Saturdays, Sundays, or any day the Federal Reserve Bank of New York is closed. When making its recommendations, the LSTA recognizes both the Federal Reserve Bank of New York and the New York Stock Exchange holiday closings. Both will be closed on Monday, June 19th, during Juneteenth National Independence Day.
Click here to see the 2023 Loan Market Holidays complete list.