12 USC Ch. 45: Front Matter
From Title 12-BANKS AND BANKINGCHAPTER 45-PAYMENT SYSTEM RISK REDUCTION
CHAPTER 45-PAYMENT SYSTEM RISK REDUCTION
SUBCHAPTER I-BILATERAL AND CLEARING ORGANIZATION NETTING
Sec.
4401.
Findings and purpose.
4402.
Definitions.
4403.
Bilateral netting.
(a)
General rule.
(b)
Limitation on obligation to make payment.
(c)
Limitation on right to receive payment.
(d)
Payment of net entitlement of failed financial institution.
(e)
Effectiveness notwithstanding status as financial institution.
4404.
Clearing organization netting.
(a)
General netting rule.
(b)
Limitation of obligation to make payment.
(c)
Limitation on right to receive payment.
(d)
Entitlement of failed members.
(e)
Obligations of failed members.
(f)
Limitation on claims for entitlement.
(g)
Effectiveness notwithstanding status as member.
4405.
Preemption.
4406.
Relationship to other payments systems.
4407.
National emergencies.
SUBCHAPTER II-MULTILATERAL CLEARING ORGANIZATIONS
4421.
Definitions.
4422.
Multilateral clearing organizations.
(a)
In general.
(b)
Clearing organizations.