H.R. 3234 House Finance and Financial Sector
Keeping Deposits Local Act
STAGE 4 OF 8 — HOUSE FLOOR
Currently in the House. Last action: received in the senate and read twice and referred to the committee on banking, housing, and urban affairs on May 21, 2026.
- House Introduced in House May 7, 2025
- House Referred to the House Committee on Financial Services. May 7, 2025
- House Committee Consideration and Mark-up Session Held Sep 16, 2025
- House Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0. Sep 16, 2025
- House Reported (Amended) by the Committee on Financial Services. H. Rept. 119-362. Nov 4, 2025
- House Placed on the Union Calendar, Calendar No. 314. Nov 4, 2025
- House Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended. May 19, 2026
- House Considered under suspension of the rules. (consideration: CR H3582-3584; text: CR H3582) May 19, 2026
- House DEBATE - The House proceeded with forty minutes of debate on H.R. 3234. May 19, 2026
- 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. May 19, 2026
- House Considered as unfinished business. (consideration: CR H3644-3645) May 20, 2026
- House 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, 2026
- 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, 2026
- House Motion to reconsider laid on the table Agreed to without objection. May 20, 2026
- HouseOn Motion to Suspend the Rules and Pass, as Amended May 20, 2026
- Senate Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. May 21, 2026
Cosponsors
11
Subjects
Bank accounts, deposits, capitalBanking and financial institutions regulation
Committees
- Banking, Housing, and Urban Affairs Committee
- Referred To , May 21, 2026
- Financial Services Committee
- Reported By , Nov 4, 2025
- Markup By , Sep 16, 2025
- Referred To , May 7, 2025
Summary
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.)
Summary as of: Introduced in House
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