Keeping Deposits Local Act
Sponsored By: Senator Mike Rounds
Introduced
Summary
Recalibrates which reciprocal deposits count as brokered funds under the FDIA. This bill would set tiered, percentage-based exclusions for reciprocal deposits and tie "agent institution" status to CAMELS ratings of 1, 2, or 3.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Keeps more bank deposits local
If enacted, this bill would stop treating some reciprocal deposits as brokered funds for qualifying banks. The carve-out would be tiered by an institution's total liabilities: 50% up to $1 billion; 40% for the portion over $1 billion up to $10 billion; 30% from $10 billion to $250 billion; 20% from $250 billion to $1 trillion; and 2% of liabilities over $1 trillion. Only institutions with a CAMELS rating of 1, 2, or 3 would qualify as agent institutions. The change would take effect upon enactment.
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Sponsors & CoSponsors
Sponsor
Mike Rounds
SD • R
Cosponsors
Sen. Warner, Mark R. [D-VA]
VA • D
Sponsored 9/10/2025
Katie Britt
AL • R
Sponsored 11/19/2025
Chris Van Hollen
MD • D
Sponsored 11/19/2025
Sen. Moreno, Bernie [R-OH]
OH • R
Sponsored 11/19/2025
Roll Call Votes
No roll call votes available for this bill.
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