December 2, 2019 - 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.  In addition, solely for the purposes of calculating the start date for delayed compensation, a Business Day excludes any day on which the New York Stock Exchange is closed. 

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

2020 Holidays Observed

New Year’s Day – Wednesday, January 1st
Martin Luther King, Jr. Day – Monday, January 20th
Washington’s Birthday – Monday, February 17th
Good Friday – Friday, April 10th
Memorial Day – Monday, May 25th
Independence Day – Friday, July 3rd (July 4th holiday observed)
Labor Day – Monday, September 7th
Columbus Day – Monday, October 12th
Veterans Day – Wednesay, November 11th
Thanksgiving Day – Thursday, November 26th
Christmas Day – Friday, December 25th

The New York Fed’s 2020 Holiday Schedule can be found by clicking here

Click here for the 2020 NYSE Holiday Schedule

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Membership in the LSTA offers numerous benefits and opportunities. Chief among them is the opportunity to participate in the decision making process that ultimately establishes loan market standards, develops market practices, and influences the market’s direction.

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