12 U.S.C. § 5804
Continuity of contract and safe harbor
United States · Title 12 — BANKS AND BANKING · Status: effective
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- Citation
- 12 U.S.C. § 5804, Continuity of contract and safe harbor, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/439139
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Full text
A Board-selected benchmark replacement and the selection or use of a Board-selected benchmark replacement as a benchmark replacement under or with respect to a LIBOR contract, and any benchmark replacement conforming changes, shall constitute—
Neither the selection or use of a Board-selected benchmark replacement as a benchmark replacement nor the determination, implementation, or performance of benchmark replacement conforming changes under section 5803 of this title may—
have the effect of—
No person shall be subject to any claim or cause of action in law or equity or request for equitable relief, or have liability for damages, arising out of—
The selection or use of a Board-selected benchmark replacement or the determination, implementation, or performance of benchmark replacement conforming changes under section 5803 of this title shall not be deemed to—
Except as provided in subsections 33 So in original. Probably should be “subsection”. (a), (b), or (c)(1) of section 5803 of this title, nothing in this chapter may be construed to create any negative inference or negative presumption regarding the validity or enforceability of—
Legislative history
The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone.
- Consolidated Appropriations Act, 2022House: no recorded tallySenate: no recorded tally