"Recommended spread adjustment"

Sec. 13. As used in this chapter, "recommended spread adjustment" means a spread adjustment, or method for calculating or determining the spread adjustment, that: (1) is selected or recommended by a relevant recommending body for: (A) a recommended benchmark replacement; (B) a particular type of contract, security, or instrument; and (C) a particular term; to account for the effects of the transition or change from LIBOR to the recommended benchmark replacement; and (2) may: (A) have a positive or negative value; or (B) equal zero (0). As added by P.L.67-2022, SEC.1.