OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

HR 3234 - Keeping Deposits Local Act - National Key Vote

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Title: Keeping Deposits Local Act

Vote Smart's Synopsis:

Vote to pass a bill that amends regulations for insured depository institutions.

Highlights:

  • Increases the amount insured depository institutions may accept as reciprocal deposits (Sec. 2).

  • Establishes a tiered system so that the allowable amount is based on the institution's total liabilities (Sec. 2).

  • Amends certain qualifications insured depository institutions may be required to have to accept reciprocal deposits (Sec. 3).

  • Authorizes institutions with a 1, 2, or 3 rating under the capital adequacy, asset quality, management, earnings, liquidity, and sensitivity to market risk (CAMELS) scale to qualify (Sec. 3).

NOTE: THIS VOTE WAS TAKEN UNDER A SUSPENSION OF THE RULES TO CUT OFF DEBATE EARLY AND VOTE TO PASS THE BILL, THEREBY REQUIRING A TWO-THIRDS MAJORITY FOR PASSAGE.

Full Bill Text

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