Section 253.6 - PreemptionPursuant 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.