S. 2757

119 S2757 IS: Keeping Deposits Local Act
 U.S. Senate
 2025-09-10
 text/xml
 EN
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 II  119th CONGRESS  1st Session  S. 2757  IN THE SENATE OF THE UNITED STATES   September 10, 2025   Mr. Rounds  (for himself and  Mr. Warner ) introduced the following bill; which was read twice and referred to the  Committee on Banking, Housing, and Urban Affairs    A BILL
To amend the Federal Deposit Insurance Act to modify the amount of reciprocal deposits of an insured depository institution that are not considered to be funds obtained by or through a deposit broker, and for other purposes.
1.
Short title
This Act may be cited as the   Keeping Deposits Local Act  .
2.
Amount of reciprocal deposits that are not considered to be funds obtained by or through a deposit broker
Section 29(i) of the Federal Deposit Insurance Act ( 12 U.S.C. 1831f(i) ) is amended by striking paragraph (1) and inserting the following:
(1)
In general
The sum of the following amounts of reciprocal deposits of an agent institution shall not be considered to be funds obtained, directly or indirectly, by or through a deposit broker:
(A)
An amount equal to 50 percent of the portion of the total liabilities of the agent institution that is not more than $1,000,000,000.
(B)
An amount equal to 40 percent of the portion, if any, of the total liabilities of the agent institution that is more than $1,000,000,000, but not more than $10,000,000,000.
(C)
An amount equal to 30 percent of the portion, if any, of the total liabilities of the agent institution that is more than $10,000,000,000, but not more than $250,000,000,000.
(D)
An amount equal to 20 percent of the portion, if any, of the total liabilities of the agent institution that is more than $250,000,000,000, but not more than $1,000,000,000,000.
(E)
An amount equal to 2 percent of the portion, if any, of the total liabilities of the agent institution that is more than $1,000,000,000,000.
 .
3.
Definition of Agent Institution
Section 29(i)(2)(A)(i)(I) of the Federal Deposit Insurance Act ( 12 U.S.C. 1831f(i)(2)(A)(i)(I) ) is amended by striking  found to have a composite condition of outstanding or good  and inserting  assigned a CAMELS rating of 1, 2, or 3 .