HR 3234
Passed a chamber
Raises the share of reciprocal deposits that banks can exclude from deposit broker rules, limits that exclusion to banks with strong examination ratings, and requires an FDIC study of reciprocal deposits.
Official title: Keeping Deposits Local Act
Timeline each lane is a chamber; dates pull from congress.gov actions
House
Introduced
07-MAY-2025
Referred
07-MAY-2025
Approved by committee
16-SEP-2025
Reported
04-NOV-2025
On the calendar
04-NOV-2025
Passed
20-MAY-2026
Senate
Received
21-MAY-2026
- Sets the excluded share at 50 percent of liabilities up to $1 billion, 40 percent of liabilities from $1 billion to $10 billion, and 30 percent of liabilities from $10 billion to $250 billion.
- Limits the exclusion to agent institutions whose most recent examination assigned a CAMELS rating of 1, 2, or 3, or an equivalent rating.
- Requires the FDIC, in consultation with the Federal Reserve, to study reciprocal deposits and report to Congress within 6 months after enactment.
- Reduces the discretionary surplus fund dollar amount in the Federal Reserve Act by $28,000,000, effective September 1, 2036.
Covers an older version. The newest CRS summary describes the bill as of "Introduced in House" (07-MAY-2025); the text has changed since (Engrossed in House, 20-MAY-2026).
CRS is the Library of Congress's nonpartisan research office. Read it on congress.govFinance and Financial Sector
■ 8 R■ 3 D
8 Republicans
3 Democrats