12 CFR § 253.7 - Continuity of contract and safe harbor.
---
identifier: "/us/cfr/t12/s253.7"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 253.7 - Continuity of contract and safe harbor."
title_number: 12
title_name: "Banks and Banking"
section_number: "253.7"
section_name: "Continuity of contract and safe harbor."
chapter_name: "FEDERAL RESERVE SYSTEM"
subchapter_number: "A"
subchapter_name: "BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM"
part_number: "253"
part_name: "REGULATIONS IMPLEMENTING THE ADJUSTABLE INTEREST RATE (LIBOR) ACT (REGULATION ZZ)"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 5801"
regulatory_source: "88 FR 5220, Jan. 26, 2023, unless otherwise noted."
cfr_part: "253"
---
# 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).