# Regulations Implementing the Adjustable Interest Rate (LIBOR) Act
> **US Federal Reserve System** · Final rule. · Published 2023-01-26 · Effective 2023-02-27 · 88 FR 5204
## Document
- **Document number:** 2023-00213
- **Category:** final-rule
- **Agency:** US Federal Reserve System
- **Federal Register citation:** 88 FR 5204
- **CFR reference:** 12 CFR 253
- **Publication date:** 2023-01-26
- **Effective date:** 2023-02-27
- **Docket:** Regulation ZZ
## Abstract

The Board is adopting a final rule (final rule) to implement the Adjustable Interest Rate (LIBOR) Act. The final rule establishes benchmark replacements for contracts governed by U.S. law that reference certain tenors of U.S. dollar LIBOR (the overnight and one-, three-, six-, and 12-month tenors) and that do not have terms that provide for the use of a clearly defined and practicable replacement benchmark rate following the first London banking day after June 30, 2023. The final rule also provides additional definitions and clarifications consistent with the Adjustable Interest Rate (LIBOR) Act.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/2023/01/26/2023-00213/regulations-implementing-the-adjustable-interest-rate-libor-act)
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