Text of Senate Amendment 4393

Text of Senate Amendment 4393

Congressional Record, Volume 172 Issue 43 (Monday, March 9, 2026) [Congressional Record Volume 172, Number 43 (Monday, March 9, 2026)] [Senate] [Pages S938-S939] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] SA 4393. Mr. ROUNDS (for himself and Mr. Warner) submitted an amendment intended to be proposed by him to the bill H.R. 6644, a bill to increase the supply of housing in America, and for other purposes; which was ordered to lie on the table; as follows: At the appropriate place, insert the following: SEC. _____. KEEPING DEPOSITS LOCAL. (a) 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 [[Page S939]] 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.''. (b) 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''. (c) FDIC Study.-- (1) In general.--The Federal Deposit Insurance Corporation shall carry out a study on reciprocal deposits. (2) Contents.--The study required under paragraph (1) shall include an analysis of-- (A) how reciprocal deposits have performed since 2018, which shall include-- (i) the use of quantitative and qualitative data; (ii) a breakdown of the usage of reciprocal deposits by size of insured depository institution; (iii) the usage of reciprocal deposits during periods of stress; and (iv) an analysis, to the extent practicable, of end-user depositors, such as municipalities, businesses, and non- profit organizations, that drive demand for reciprocal products; (B) the relationship between reciprocal and custodial deposits and how insured depository institutions use such deposits; and (C) the benefits and potential risks of reciprocal deposits. (3) Report.--Not later than 180 days after the date of enactment of this Act, the Federal Deposit Insurance Corporation shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report containing all findings and determinations made in carrying out the study required under paragraph (1). ______