Title 12, Banks and BankingRelease 119-102
§4405 Preemption
Title 12 › CHAPTER 45 — PAYMENT SYSTEM RISK REDUCTION › SUBCHAPTER I — BILATERAL AND CLEARING ORGANIZATION NETTING › § 4405
Summary
Courts or agencies cannot restrict or delay valid netting contracts under sections 4403, 4404.
Full Legal Text
Title 12, §4405
Banks and Banking, Source: USLM XML via OLRC
No stay, injunction, avoidance, moratorium, or similar proceeding or order, whether issued or granted by a court, administrative agency, or otherwise, shall limit or delay application of otherwise enforceable netting contracts in accordance with section 4403 and 4404 of this title.
Reference
Citations & Metadata
Citation
12 U.S.C. § 4405
Title 12, Banks and Banking
Last Updated
Aug 21, 2026
Release point: 119-102