Keeping Deposits Local Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (May 7, 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.)
What just happenedMay 21, 2026
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Who’s behind it
- Referred in SenateMay 21, 2026
- Engrossed in HouseMay 20, 2026
- Reported in HouseNov 4, 2025
- Introduced in HouseMay 7, 2025
- May 21, 2026IntroReferral
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Banking, Housing, and Urban Affairs Committee - May 20, 2026FloorH38310
Motion to reconsider laid on the table Agreed to without objection.
- May 20, 2026FloorH37300
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, 2026Floor8000
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, 2026FloorH30000
Considered as unfinished business. (consideration: CR H3644-3645)
- May 19, 2026FloorH37220
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, 2026FloorH8D000
DEBATE - The House proceeded with forty minutes of debate on H.R. 3234.
- May 19, 2026FloorH30000
Considered under suspension of the rules. (consideration: CR H3582-3584; text: CR H3582)
- May 19, 2026FloorH30300
Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
- Nov 4, 2025CalendarsH12410
Placed on the Union Calendar, Calendar No. 314.
- Nov 4, 2025CommitteeH12200
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-362.
Financial Services Committee - Nov 4, 2025Committee5000
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-362.
Financial Services Committee - Sep 16, 2025Committee
Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0.
Financial Services Committee - Sep 16, 2025Committee
Committee Consideration and Mark-up Session Held
Financial Services Committee - May 7, 2025IntroReferralH11100
Referred to the House Committee on Financial Services.
Financial Services Committee - May 7, 2025IntroReferralIntro-H
Introduced in House
- May 7, 2025IntroReferral1000
Introduced in House