September 27, 2021 - In observance of Columbus Day, the Loan Syndications and Trading Association (LSTA) recommends treating Monday, October 11, 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.  The Federal Reserve Bank of New York will be closed on Monday, October 11th in observance of Columbus Day.  The New York Stock Exchange will be open.

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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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Playing SOFR-doku

October 14, 2021 - This week, we saw ARRC exhortations to move off LIBOR, more SOFR loans emerge and extensive price discovery around the SOFR…