HR 3234
· 119th Congress
· Finance and Financial Sector
Keeping Deposits Local Act
Sponsor
Latest action
Placed on the Union Calendar, Calendar No. 314.
Action timeline
Every recorded action on this bill, newest first. Stage badges color-code the legislative path.
Nov 04, 2025
committee
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-362.
Financial Services Committee
Nov 04, 2025
other
Placed on the Union Calendar, Calendar No. 314.
Sep 16, 2025
committee
Committee Consideration and Mark-up Session Held
Financial Services Committee
Sep 16, 2025
committee
Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0.
Financial Services Committee
May 07, 2025
introduced
Introduced in House
May 07, 2025
introduced
Referred to the House Committee on Financial Services.
Financial Services Committee
Text versions
Each stage of the bill — official text published by GPO. Click any format to read on congress.gov / govinfo.
CRS summaries
Plain-English summaries written by the Congressional Research Service — neutral, nonpartisan staff who summarize bills as they advance through stages. The authoritative description of what each version of the bill does.
00
Introduced in House
May 07, 2025
This 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.)
via Congressional Research Service · published through congress.gov
Changelog
ⓘ
How a bill moves through Congress. Each stage produces a new official text. The diff between them shows what changed at that step.
ih / is — Introduced in House / Senate. First filed version.rfh / rfs — Referred to a committee for review.rh / rs — Reported back by the committee to the floor (often with amendments — this is where most language changes happen).pcs / pch — Placed on Calendar for floor consideration.eh / es — Engrossed. Passed by the originating chamber. Text is now what was actually voted on.rdh / rds — Received by the other chamber.eah / eas — Engrossed Amendment. The other chamber passed an amended version.ath / ats — Agreed to. Both chambers settled on the same text.enr — Enrolled. Final reconciled text, sent to the President.pl — Public Law. Signed by the President. It's now law.pp — Public Print. Official printing post-enactment.
Most bills die before eh/es. Going from pcs → enr is the full path through both chambers.
ⓘ
How a bill moves through Congress. Each stage produces a new official text. The diff between them shows what changed at that step.
ih/is— Introduced in House / Senate. First filed version.rfh/rfs— Referred to a committee for review.rh/rs— Reported back by the committee to the floor (often with amendments — this is where most language changes happen).pcs/pch— Placed on Calendar for floor consideration.eh/es— Engrossed. Passed by the originating chamber. Text is now what was actually voted on.rdh/rds— Received by the other chamber.eah/eas— Engrossed Amendment. The other chamber passed an amended version.ath/ats— Agreed to. Both chambers settled on the same text.enr— Enrolled. Final reconciled text, sent to the President.pl— Public Law. Signed by the President. It's now law.pp— Public Print. Official printing post-enactment.
Most bills die before eh/es. Going from pcs → enr is the full path through both chambers.
Line-level diff between text versions of this bill — what actually changed at each legislative stage.
+84
−13
32 unchanged
--- Introduced (House)
+++ Reported (House)
@@ -1,11 +1,14 @@
[From the U.S. Government Publishing Office]
-[H.R. 3234 Introduced in House (IH)]
+[H.R. 3234 Reported in House (RH)]
<DOC>
+Union Calendar No. 314
119th CONGRESS
1st Session
H. R. 3234
+
+[Report No. 119-362]
To amend the Federal Deposit Insurance Act to modify the amount of
reciprocal deposits of an insured depository institution that are not
@@ -22,6 +25,21 @@
Wisconsin) introduced the following bill; which was referred to the
Committee on Financial Services
+November 4, 2025
+
+Additional sponsors: Mr. Barr, Mr. Flood, Mr. Williams of Texas, Mr.
+Ezell, Mr. Sessions, Mr. Golden of Maine, Mr. Bergman, and Mr. Rogers
+of Alabama
+
+November 4, 2025
+
+Reported with an amendment, committed to the Committee of the Whole
+House on the State of the Union, and ordered to be printed
+[Strike out all after the enacting clause and insert the part printed
+in italic]
+[For text of introduced bill, see copy of bill as introduced on May 7,
+2025]
+
_______________________________________________________________________
A BILL
@@ -34,7 +52,11 @@
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
-SECTION 1. AMOUNT OF RECIPROCAL DEPOSITS THAT ARE NOT CONSIDERED TO BE
+SECTION 1. SHORT TITLE.
+
+This Act may be cited as the ``Keeping Deposits Local Act''.
+
+SEC. 2. AMOUNT OF RECIPROCAL DEPOSITS THAT ARE NOT CONSIDERED TO BE
FUNDS OBTAINED BY OR THROUGH A DEPOSIT BROKER.
Section 29(i) of the Federal Deposit Insurance Act (12 U.S.C.
@@ -54,21 +76,70 @@
``(C) An amount equal to 30 percent of the portion,
if any, of the total liabilities of the agent
institution that is greater than $10,000,000,000, but
-less than or equal to $250,000,000,000.
-``(D) An amount equal to 20 percent of the portion,
-if any, of the total liabilities of the agent
-institution that is greater than $250,000,000,000, but
-less than or equal to $1,000,000,000,000.
-``(E) An amount equal to 2 percent of the portion,
-if any, of the total liabilities of the agent
-institution that is greater than $1,000,000,000,000.''.
+less than or equal to $250,000,000,000.''.
-SEC. 2. DEFINITION OF AGENT INSTITUTION.
+SEC. 3. DEFINITION OF AGENT INSTITUTION.
Section 29(i)(2)(A)(i) of the Federal Deposit Insurance Act (12
U.S.C. 1831f(i)(2)(A)(i)) is amended by striking subclause (I) and
inserting the following:
``(I) when most recently examined
under section 10(d) was assigned a
-CAMELS rating of 1, 2, or 3; and''.
-<all>
+CAMELS rating of 1, 2, or 3 under the
+Uniform Financial Institutions Rating
+System (or an equivalent rating under a
+comparable rating system); and''.
+
+SEC. 4. RECIPROCAL DEPOSITS STUDY.
+
+(a) In General.--The Federal Deposit Insurance Corporation, in
+consultation with the Board of Governors of the Federal Reserve System,
+shall carry out a study on reciprocal deposits.
+(b) Contents.--The study required under subsection (a) shall
+include--
+(1) an analysis of how reciprocal deposits have performed
+since 2018, which shall include--
+(A) the use of quantitative and qualitative data;
+(B) a breakdown of the usage of reciprocal deposits
+by size of insured depository institution;
+(C) the usage of reciprocal deposits during periods
+of stress; and
+(D) an analysis, to the extent practicable, of end-
+user depositors, such as municipalities, businesses,
+and non-profit organizations, that drive demand for
+reciprocal products;
+(2) an analysis, to the extent practicable, of how
+reciprocal deposits compare to other deposit arrangements; and
+(3) an analysis of the benefits and potential risks of
+reciprocal deposits.
+(c) Report.--Not later than 6 months after the date of enactment of
+this Act, the Federal Deposit Insurance Corporation shall issue a
+report to the Committee on Financial Services of the House of
+Representatives and the Committee on Banking, Housing, and Urban
+Affairs of the Senate containing all findings and determinations made
+in carrying out the report required under subsection (a).
+Union Calendar No. 314
+
+119th CONGRESS
+
+1st Session
+
+H. R. 3234
+
+[Report No. 119-362]
+
+_______________________________________________________________________
+
+A BILL
+
+To amend the Federal Deposit Insurance Act to modify the amount of
+reciprocal deposits of an insured depository institution that are not
+considered to be funds obtained by or through a deposit broker, and for
+other purposes.
+
+_______________________________________________________________________
+
+November 4, 2025
+
+Reported with an amendment, committed to the Committee of the Whole
+House on the State of the Union, and ordered to be printed
Lobbying activity
Organizations whose LDA filings reference this bill, ranked by filing count. Position not disclosed — LDA does not require lobbyists to report support / oppose / monitor. Bill-number references can be stale (lobbyists sometimes copy text year-over-year), so verify against the filing description.
5
filings · 2026 Q3
4
filings · 2026 Q3
2
filings · 2026 Q4
1
filings · 2026 Q1
1
filings · 2025 Q2
via Senate LDA · self-reported quarterly. Filing count = filings mentioning this bill (no position required), not money spent on it. Click a client to see all bills they've filed on.
Cosponsors (11)
Members who signed on to support this bill.