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The LSTA Recommends Treating Monday, November 12, 2018 as a Loan Market Holiday When Calculating Delayed Compensation

November 1, 2018 - In observance of Veterans Day, the Loan Syndications and Trading Association (LSTA) recommends treating Monday, November 12, 2018 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 trade date.  Business days do not include Saturdays, Sundays or any day the Federal Reserve Bank of New York is closed.  The LSTA recognizes both the Federal Reserve Bank of New York and the New York Stock Exchange holiday closings when making its recommendations.  The Federal Reserve Bank of New York will be closed on Monday, November 12 in observance of Veterans Day, which falls on Sunday, November 11.  The New York Stock Exchange will be open.

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