God "Remembers" His Covenant
Just as in seeing the rainbow God will "remember" His covenant to never again send a flood to destroy all flesh, so in the covenant in Christ's blood God "remembers" not to treat believers as their sins justly deserve.
"When I bring clouds over the earth and the bow is seen in the clouds, I will remember my covenant that is between me and you and every living creature of all flesh. And the waters shall never again become a flood to destroy all flesh." Gen 9:14-15