12 CFR 253.6
§ 253.6 Preemption.
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 253.6, § 253.6 Preemption, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/45491
- Permanent ID
ys:prov:45491@1- SHA-256
1b453288c853ce6beb4cd031724e9cb0f239744a12631bd1317928df0f16b456
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
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.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.