HR3234: Keeping Deposits Local Act
119th Congress (2025–2027) · House bill · Sponsor: Rep. Emmer, Tom [R-MN-6]
119th Congress (2025–2027) · House bill · Sponsor: Rep. Emmer, Tom [R-MN-6]
| Item | Detail |
|---|---|
| Roll-call votes | 1 |
| Chamber | House |
| Latest vote | 2026-05-20: Passed |
| Latest action | 2026-05-21: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
| Policy area | Finance and Financial Sector |
| Official record | Congress.gov |
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.)
Subjects: Bank accounts, deposits, capital, Banking and financial institutions regulation
Every recorded vote on this bill, newest first, with a link to the official tally. Member-by-member positions are on each member’s profile.
| Date | Chamber | Question | Result | Yea | Nay | Not voting | Record |
|---|---|---|---|---|---|---|---|
| 2026-05-20 | House | 2/3 Yea-And-Nay | Passed | 405 | 0 | 25 | Official tally |
HR3234 (Keeping Deposits Local Act) was introduced in the 119th Congress (2025–2027) by Rep. Emmer, Tom [R-MN-6].
On 2026-05-21: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
1 recorded vote in the 119th Congress. The most recent, on 2026-05-20, was "2/3 Yea-And-Nay": Passed.