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Bill · 119th Congress · HR 3234
Keeping Deposits Local Act
Refreshed 2 h ago
Introduced 2025-05-07Topic: economy jobs · budgetSummary
Summary by the Congressional Research ServiceThis bill increases the amount insured depository institutions may accept as reciprocal deposits. (Reciprocal deposits are used by institutions to increase the availability of deposit insurance by splitting large deposits using a reciprocal network of institutions.) The bill creates a tiered system so that the allowable amount is based on the institution's total liabilities. Additionally, the bill changes certain qualifications insured depository institutions may be required to have to accept reciprocal deposits. Under current law, institutions may qualify by having a composite rating of outstanding or good, among other requirements. The bill allows institutions with a 1, 2, or 3 rating under the CAMELS scale to qualify. (The Uniform Financial Institutions Rating System uses the characteristics of capital adequacy, asset quality, management, earnings, liquidity, and sensitivity to market risk (i.e., CAMELS ratings) to rate the health of financial institutions, with a 1 indicating the highest rating and least degree of supervisory concern and a 5 indicating the lowest rating and highest degree of supervisory concern.)
Sponsors
- Tom Emmer Republican sponsor
- 11 cosponsors
Recorded votes
| Date | Chamber | Question | Result | Yeas | Nays |
|---|---|---|---|---|---|
| 2026-05-20 | House roll 177 | On Motion to Suspend the Rules and Pass, as Amended | Passed | 405 | 0 |
Action history
| Date | Chamber | Action | Status effect |
|---|---|---|---|
| 2026-05-21 | Senate | Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | refer |
| 2026-05-20 | House | Motion to reconsider laid on the table Agreed to without objection. | |
| 2026-05-20 | 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). | |
| 2026-05-20 | 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). | floor pass | |
| 2026-05-20 | House | Considered as unfinished business. (consideration: CR H3644-3645) | |
| 2026-05-19 | House | 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. | |
| 2026-05-19 | House | DEBATE - The House proceeded with forty minutes of debate on H.R. 3234. | |
| 2026-05-19 | House | Considered under suspension of the rules. (consideration: CR H3582-3584; text: CR H3582) | |
| 2026-05-19 | House | Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended. | |
| 2025-11-04 | House | Placed on the Union Calendar, Calendar No. 314. | |
| 2025-11-04 | House | Reported (Amended) by the Committee on Financial Services. H. Rept. 119-362. | report |
| 2025-11-04 | Reported (Amended) by the Committee on Financial Services. H. Rept. 119-362. | report | |
| 2025-09-16 | House | Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0. | refer |
| 2025-09-16 | House | Committee Consideration and Mark-up Session Held | refer |
| 2025-05-07 | House | Referred to the House Committee on Financial Services. | refer |
| 2025-05-07 | Introduced in House | introduce | |
| 2025-05-07 | Introduced in House | introduce |