2017 Loan Market Holidays - Calculation of Delayed Compensation

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.

With adoption of the new LSTA trade confirmations which became effective on May 2005, either the New York Stock Exchange or the New York Fed closings will also be treated as loan market "holidays" for purposes of calculating the start date for delayed compensation.

The LSTA's recommended holiday schedule for calculating delayed compensation can be found below:

2017 Holidays Observed

New Year's Day - Monday, January 2nd
Martin Luther King, Jr. Day - Monday, January 16th
Washington's Birthday - Monday, February 20th
Good Friday - Friday, April 14th
Memorial Day - Monday, May 29th
Independence Day - Tuesday, July 4th
Labor Day - Monday, September 4th
Columbus Day - Monday, October 9th
Thanksgiving Day - Thursday, November 23rd
Christmas Day - Monday, December 25th

The New York Fed's 2017 Holiday Schedule can be found by clicking here

Click here for the 2017 NYSE Holiday Schedule

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