In observance of New Year’s Day, the LSTA recommends treating Monday, January 1, 2024, 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, January 1st in observance of New Year’s Day.
Click here for the 2024 Loan Market Holidays.