12 CFR § 253.7

12 CFR · Banks and Banking

§ 253.7 — Continuity of contract and safe harbor.

12 CFR § 253.7

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. § 253.7 (Continuity of contract and safe harbor.) 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. § 253.7 (2026).

Text

§ 253.7 Continuity of contract and safe harbor.

(a)The provisions of section 105(a)-

(d)of the Adjustable Interest Rate (LIBOR) Act, 12 U.S.C. 5804(a)-

(d), shall apply to any LIBOR contract for which the Board-selected benchmark replacement becomes the benchmark replacement pursuant to § 253.3(a) or (c).

(b)Nothing in this part is intended to alter or modify the availability or effect of the provisions of section 105(e) of the Adjustable Interest Rate (LIBOR) Act, 12 U.S.C. 5804(e).

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§ 253.7 Continuity of contract and safe harbor.

(a) The provisions of section 105(a)-(d) of the Adjustable Interest Rate (LIBOR) Act, 12 U.S.C. 5804(a)-(d), shall apply to any LIBOR contract for which the Board-selected benchmark replacement becomes the benchmark replacement pursuant to § 253.3(a) or (c).

(b) Nothing in this part is intended to alter or modify the availability or effect of the provisions of section 105(e) of the Adjustable Interest Rate (LIBOR) Act, 12 U.S.C. 5804(e).