In observance of Independence Day, the LSTA recommends treating Thursday, July 4, 2024, 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 the trade date.  Business days do not include Saturdays, Sundays, or any day the Federal Reserve Bank of New York is closed.  In addition, business days do not include any day on which the New York Stock Exchange is closed solely for determining the commencement date for delayed compensation.  When making its recommendations, the LSTA recognizes the New York Stock Exchange and the Federal Reserve Bank of New York holiday closings.  Both will be closed on Thursday, July 4th, in observance of Independence Day.

Click here for the 2024 Loan Market Holidays.