HELPLIB.HLB  —  COBOL  REPLACE statement
  The REPLACE statement is used to replace source program text.

1  –  1format_pseudo-text-name

  The REPLACE statement is used to replace source program text.

  Format 1 -

   REPLACE {==pseudo-text-1== BY ==pseudo-text-2==} ...

1.1  –  pseudo-text-1

  is a text-matching argument that the compiler compares against
  text-words in the source program.

1.2  –  pseudo-text-2

  is a replacement item that the compiler inserts into the source
  program.

2  –  2format OFF

  The REPLACE OFF statement is used to terminate any text replacement
  processing currently in effect.

  Format 2 -

   REPLACE OFF
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