---
kind: "section"
citation: "12 U.S.C. § 4405"
title: "12"
title_heading: "Banks and Banking"
number: "4405"
heading: "Preemption"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/4405"
units:
  - "Chapter 45 — Payment System Risk Reduction"
  - "Subchapter I — Bilateral and Clearing Organization Netting"
---

# §4405. Preemption


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](/usc/12/4402.md?p=14-A) in accordance with sections [4403](/usc/12/4403.md) and [4404](/usc/12/4404.md) of this title.


## Source credit

(Pub. L. 102–242, title IV, § 405, Dec. 19, 1991, 105 Stat. 2375.)