US Congress · 119th Congress (2025-2026)

HR 3234In Second Chamber

Keeping Deposits Local Act

Source of recordUS Congress · congress.govLast synced Jul 18, 2026

Chamber

House

Progress

Where this bill stands in the legislative process.

Introduced
Passed House
Passed Senate
To President
Became Law

Overview

This bill modifies the rules surrounding reciprocal deposits, which are used by banks to increase deposit insurance coverage. It establishes a tiered system where the amount of reciprocal deposits an institution can accept is linked to its total liabilities, with different percentages allowed based on the size of those liabilities. The bill also changes the qualifications for institutions to participate in this reciprocal deposit system, allowing those with CAMELS ratings of 1, 2, or 3 to qualify.

Key provisions

Establishes a tiered system for reciprocal deposit amounts based on an institution's total liabilities.
Allows institutions with CAMELS ratings of 1, 2, or 3 to qualify for reciprocal deposits.
Specifies percentage allocations for reciprocal deposits based on liability tiers (50%, 40%, 30%, 20%, and 2%).
Clarifies that reciprocal deposits are not considered funds obtained through deposit brokers.
Modifies the definition of an ‘agent institution’ to include those with recent CAMELS ratings of 1, 2, or 3.

Who is affected

Insured depository institutions
Deposit brokers
Federal Deposit Insurance Corporation (FDIC)
Financial institutions
Banks

Notable changes

Lowers the minimum CAMELS rating required for accepting reciprocal deposits from ‘outstanding or good’ to 1, 2, or 3.

Bill text

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May 7, 2025XMLView source

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Legislative history

17 recorded actions · showing the most recent 12

Nov 4, 2025House

Placed on the Union Calendar, Calendar No. 314.

Nov 4, 2025House

Reported (Amended) by the Committee on Financial Services. H. Rept. 119-362.

Nov 4, 2025

Reported (Amended) by the Committee on Financial Services. H. Rept. 119-362.

May 19, 2026House

At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.

May 19, 2026House

DEBATE - The House proceeded with forty minutes of debate on H.R. 3234.

May 19, 2026House

Considered under suspension of the rules. (consideration: CR H3582-3584; text: CR H3582)

May 19, 2026House

Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.

May 20, 2026House

Motion to reconsider laid on the table Agreed to without objection.

May 20, 2026House

On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 405 - 0 (Roll no. 177).

May 20, 2026

Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 405 - 0 (Roll no. 177).

May 20, 2026House

Considered as unfinished business. (consideration: CR H3644-3645)

May 21, 2026Senate

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Votes

Recorded roll calls and chamber actions on this bill.

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Nay

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Floor votes and chamber actions

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Recorded roll calls

Geography

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No public positions recorded for this legislation.

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Keeping Deposits Local Act

Progress