Code · BILL · 117th Congress · S. 3844 (Introduced in Senate) — To establish a clear and uniform process, on a nationwide basis, for replacing the London interbank offered rate in e... · Sec. 8

Sec. 8. Preemption

69 words·~1 min read·/bill/117/s/3844/is/section-8

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This Act, and regulations promulgated under this Act, shall supersede any provision of any State or local law, statute, rule, regulation, or standard— relating to the selection or use of a benchmark replacement or related conforming changes; or 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.