Title 12, Banks and BankingRelease 119-102
§4406 Relationship to Other Payments Systems
Title 12 › CHAPTER 45 — PAYMENT SYSTEM RISK REDUCTION › SUBCHAPTER I — BILATERAL AND CLEARING ORGANIZATION NETTING › § 4406
Summary
Does not change validity of netting for uncovered payment systems.
Full Legal Text
Title 12, §4406
Banks and Banking, Source: USLM XML via OLRC
This chapter shall have no effect by implication or otherwise on the validity or legal enforceability of a netting arrangement of any payment system which is not subject to this chapter.
Reference
Citations & Metadata
Citation
12 U.S.C. § 4406
Title 12, Banks and Banking
Last Updated
Aug 21, 2026
Release point: 119-102