---
kind: "section"
citation: "12 U.S.C. § 5461"
title: "12"
title_heading: "Banks and Banking"
number: "5461"
heading: "Findings and purposes"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/5461"
units:
  - "Chapter 53 — Wall Street Reform and Consumer Protection"
  - "Subchapter IV — Payment, Clearing, and Settlement Supervision"
---

# §5461. Findings and purposes

- (a) **Findings—** Congress finds the following:
  - (1) The proper functioning of the financial markets is dependent upon safe and efficient arrangements for the clearing and settlement of payment, securities, and other [financial transactions](/usc/12/5462.md?p=7-B).
  - (2) [Financial market utilities](/usc/12/5462.md?p=6-A) that conduct or support multilateral [payment, clearing, or settlement activities](/usc/12/5462.md?p=7-A) may reduce risks for their participants and the broader financial system, but such utilities may also concentrate and create new risks and thus must be well designed and operated in a safe and sound manner.
  - (3) Payment, clearing, and settlement activities conducted by [financial institutions](/usc/12/5462.md?p=5-A) also present important risks to the participating [financial institutions](/usc/12/5462.md?p=5-A) and to the financial system.
  - (4) Enhancements to the regulation and supervision of [systemically important](/usc/12/5462.md?p=9) [financial market utilities](/usc/12/5462.md?p=6-A) and the conduct of [systemically important](/usc/12/5462.md?p=9) payment, clearing, and settlement activities by [financial institutions](/usc/12/5462.md?p=5-A) are necessary—
    - (A) to provide consistency;
    - (B) to promote robust risk management and safety and soundness;
    - (C) to reduce systemic risks; and
    - (D) to support the stability of the broader financial system.
- (b) **Purpose—** The purpose of this subchapter is to mitigate systemic risk in the financial system and promote financial stability by—
  - (1) authorizing the [Board of Governors](/usc/12/5301.md?p=3) to promote uniform standards for the—
    - (A) management of risks by [systemically important](/usc/12/5462.md?p=9) [financial market utilities](/usc/12/5462.md?p=6-A); and
    - (B) conduct of [systemically important](/usc/12/5462.md?p=9) payment, clearing, and settlement activities by [financial institutions](/usc/12/5462.md?p=5-A);
  - (2) providing the [Board of Governors](/usc/12/5301.md?p=3) an enhanced role in the supervision of risk management standards for [systemically important](/usc/12/5462.md?p=9) [financial market utilities](/usc/12/5462.md?p=6-A);
  - (3) strengthening the liquidity of [systemically important](/usc/12/5462.md?p=9) [financial market utilities](/usc/12/5462.md?p=6-A); and
  - (4) providing the [Board of Governors](/usc/12/5301.md?p=3) an enhanced role in the supervision of risk management standards for [systemically important](/usc/12/5462.md?p=9) payment, clearing, and settlement activities by [financial institutions](/usc/12/5462.md?p=5-A).

## Source credit

(Pub. L. 111–203, title VIII, § 802, July 21, 2010, 124 Stat. 1802.)

## Notes

### Statutory Notes and Related Subsidiaries

### Effective Date

Pub. L. 111–203, title VIII, § 814, July 21, 2010, 124 Stat. 1822, provided that: “This title [enacting this subchapter] is effective as of the date of enactment of this Act [July 21, 2010].”

### Short Title

This subchapter known as the “Payment, Clearing, and Settlement Supervision Act of 2010”, see Short Title note set out under section 5301 of this title.