January 21, 2021 - 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:

2021 Holidays Observed

New Year’s Day – Friday, January 1st
Martin Luther King, Jr. Day – Monday, January 18th
Washington’s Birthday – Monday, February 15th
Good Friday – Friday, April 2nd
Memorial Day – Monday, May 31st
Independence Day – Monday, July 5th (July 4th holiday observed)
Labor Day – Monday, September 6th
Columbus Day – Monday, October 11th
Veterans Day – Thursday, November 11th
Thanksgiving Day – Thursday, November 25th
Christmas Day – Friday, December 24th

The New York Fed’s 2021 Holiday Schedule can be found by clicking here

Click here for the 2021 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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