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.
