In observance of Washington’s Birthday, the LSTA recommends treating Monday, February 20, 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 New York Stock Exchange and the Federal Reserve Bank of New York holiday closings. Both will be closed on Monday, the 20th in observance of Washington’s Birthday.
Click here to see the 2023 Loan Market Holidays complete list.