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2019 Loan Market Holidays - Calculation of Delayed Compensation

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.

With adoption of the new LSTA trade confirmations which became effective on May 2005, either the New York Stock Exchange or the New York Fed closings will also be treated as loan market "holidays" for purposes of calculating the start date for delayed compensation.

The LSTA's recommended holiday schedule for calculating delayed compensation can be found below:

2019 Holidays Observed

New Year's Day - Tuesday, January 1st
Martin Luther King, Jr. Day - Monday, January 21st
Washington's Birthday - Monday, February 18th
Good Friday - Friday, April 19th
Memorial Day - Monday, May 27th
Independence Day - Thursday, July 4th
Labor Day - Monday, September 2nd
Columbus Day - Monday, October 14th
Veterans Day - Monday, November 11th
Thanksgiving Day - Thursday, November 28th
Christmas Day - Wednesday, December 25th

The New York Fed's 2019 Holiday Schedule can be found by clicking here

Click here for the 2019 NYSE Holiday Schedule

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