12 U.S. Code § 4401 - Findings and purpose
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The Congress finds that—
(1) many financial institutions engage daily in thousands of transactions with other financial institutions directly and through clearing organizations;
(3) such transactions can be processed most efficiently if, consistent with applicable contractual terms, obligations among financial institutions are netted;
(4) such netting procedures would reduce the systemic risk within the banking system and financial markets; and
Source(Pub. L. 102–242, title IV, § 401,Dec. 19, 1991, 105 Stat. 2371.)
If any provision of Pub. L. 102–242or any application of any provision thereof to any person or circumstance is held invalid, the remainder of Pub. L. 102–242and the application of any remaining provision of such Act to any other person or circumstance not to be affected by such holding, see section 481 ofPub. L. 102–242, set out as a note under section 1811 of this title.
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