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119-s-2757119th CongressWALLET

Keeping Deposits Local Act

Sponsored By: Senator Rounds, Mike [R-SD]

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.

Sponsors & CoSponsors

Sponsor

Rounds, Mike [R-SD]

SD • R

Cosponsors

  • Sen. Warner, Mark R. [D-VA]

    VA • D

    Sponsored 9/10/2025

  • Sen. Britt, Katie Boyd [R-AL]

    AL • R

    Sponsored 11/19/2025

  • Sen. Van Hollen, Chris [D-MD]

    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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