benchmark replacement conforming changes
Defined in 1 dictionary — U.S. Code
United States Code
12 U.S.C. § 5802 — in this chapter
The term "benchmark replacement conforming changes" means any technical, administrative, or operational changes, alterations, or modifications that—
(A) the Board determines, in its discretion, would address 1 or more issues affecting the implementation, administration, and calculation of the Board-selected benchmark replacement in LIBOR contracts; or
(B) solely with respect to a LIBOR contract that is not a consumer loan, in the reasonable judgment of a calculating person, are otherwise necessary or appropriate to permit the implementation, administration, and calculation of the Board-selected benchmark replacement under or with respect to a LIBOR contract after giving due consideration to any benchmark replacement conforming changes under subparagraph (A).