12 CFR § 253.6

12 CFR · Banks and Banking

§ 253.6 — Preemption.

12 CFR § 253.6

TitleTitle 12: Banks and Banking PartPart 253: Regulations Implementing the Adjustable Interest Rate (LIBOR) Act (Regulation ZZ)

SourceeCFR (current through Apr 10, 2026)

This text of 12 C.F.R. § 253.6 (Preemption.) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

12 C.F.R. § 253.6 (2026).

Text

§ 253.6 Preemption. Pursuant to section 107 of the Adjustable Interest Rate (LIBOR) Act, 12 U.S.C. 5806, this part supersedes any provision of any state or local law, statute, rule, regulation, or standard—

(a)Relating to the selection or use of a benchmark replacement or related conforming changes; or

(b)Expressly limiting the manner of calculating interest, including the compounding of interest, as that provision applies to the selection or use of a Board-selected benchmark replacement or benchmark replacement conforming changes.

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§ 253.6 Preemption.

Pursuant to section 107 of the Adjustable Interest Rate (LIBOR) Act, 12 U.S.C. 5806, this part supersedes any provision of any state or local law, statute, rule, regulation, or standard—

(a) Relating to the selection or use of a benchmark replacement or related conforming changes; or

(b) Expressly limiting the manner of calculating interest, including the compounding of interest, as that provision applies to the selection or use of a Board-selected benchmark replacement or benchmark replacement conforming changes.