{"bill":{"id":"119-hr-3234","congress":119,"type":"HR","number":3234,"title":"Keeping Deposits Local Act","originChamber":"House","introducedDate":"2025-05-07","sponsors":[{"bioguideId":"E000294","fullName":"Rep. Emmer, Tom [R-MN-6]","party":"R","state":"MN","district":6}],"cosponsorsCount":11,"latestAction":{"actionDate":"2025-11-04","text":"Placed on the Union Calendar, Calendar No. 314."},"policyArea":"Finance and Financial Sector","subjects":["Bank accounts, deposits, capital","Banking and financial institutions regulation"],"actions":[{"date":"2025-11-04","text":"Placed on the Union Calendar, Calendar No. 314.","type":"Calendars","chamber":"House floor actions","hasVote":false},{"date":"2025-11-04","text":"Reported (Amended) by the Committee on Financial Services. H. Rept. 119-362.","type":"Committee","chamber":"House floor actions","hasVote":false},{"date":"2025-11-04","text":"Reported (Amended) by the Committee on Financial Services. H. Rept. 119-362.","type":"Committee","chamber":"Library of Congress","hasVote":false},{"date":"2025-09-16","text":"Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0.","type":"Committee","chamber":"House committee actions","hasVote":false},{"date":"2025-09-16","text":"Committee Consideration and Mark-up Session Held","type":"Committee","chamber":"House committee actions","hasVote":false},{"date":"2025-05-07","text":"Referred to the House Committee on Financial Services.","type":"IntroReferral","chamber":"House floor actions","hasVote":false},{"date":"2025-05-07","text":"Introduced in House","type":"IntroReferral","chamber":"Library of Congress","hasVote":false},{"date":"2025-05-07","text":"Introduced in House","type":"IntroReferral","chamber":"Library of Congress","hasVote":false}],"summary":"<p>This bill increases the amount insured depository&nbsp;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.</p><p>Additionally, the bill changes certain qualifications insured depository institutions may be required to have to accept reciprocal deposits. Under current law, institutions&nbsp;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.)</p>","updateDate":"2026-02-04T05:06:16Z"},"markets":[],"stateBills":[],"meta":{"sources":["congress.gov"],"latencyMs":390,"ts":"2026-04-19T08:25:10.348Z"},"nextActions":{"inspect":[],"related":[{"description":"Search related legislation","method":"GET","url":"/api/public/query-gov?q=Keeping%20Deposits%20Local%20Act"}]}}