In observance of the U.S. Thanksgiving Day holiday, the Loan Syndications and Trading Association recommends treating Thursday, November 26, as a loan market holiday for purposes of calculating delayed compensa-tion 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 New York Stock Exchange and the Federal Reserve Bank of New York holiday closings when making its recommendations. Both The Federal Reserve Bank of New York and the New York Stock Exchange will be closed on November 26, 2009, in observance of the Thanksgiving Day holiday.
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