January 11, 2021 - In observance of the Birthday of Martin Luther King, Jr. holiday, the Loan Syndications and Trading Association (LSTA) recommends treating Monday, January 18, 2021 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. Both will be closed on Monday, January 18th in observance of the Birthday of Martin Luther King, Jr. holiday.