12 U.S.C. § 5805
Benchmark for loans
United States · Title 12 — BANKS AND BANKING · Status: effective
Cite this
- Citation
- 12 U.S.C. § 5805, Benchmark for loans, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/439140
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Full text
In this section:
The term “bank” means an institution subject to examination by a Federal financial institutions regulatory agency.
The term “covered action” means—
The term “Federal financial institutions regulatory agencies” has the meaning given the term in section 3302 of this title.
The term “Federal supervisory agency” means an agency listed in subparagraphs (A) through (H) of section 3401(7) of this title.
The term “non-IBOR loan” means any loan that, by its terms, does not use in any way LIBOR, any tenor of non-U.S. dollar currency rates formerly known as the London interbank offered rate as administered by ICE Benchmark Administration Limited (or any predecessor or successor administrator thereof), and any other interbank offered rates that are expected to cease, as a benchmark.
With respect to a benchmark used by a bank—
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