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S. 3373 114th Congress Senate

A bill to amend the Federal Deposit Insurance Act to ensure that the reciprocal deposits of an insured depository institution are not considered to be funds obtained by or through a deposit broker,…

Official title: A bill to amend the Federal Deposit Insurance Act to ensure that the reciprocal deposits of an insured depository institution are not considered to be funds ob… Show full official titleShow less

Official title: A bill to amend the Federal Deposit Insurance Act to ensure that the reciprocal deposits of an insured depository institution are not considered to be funds obtained by or through a deposit broker, and for other purposes.

Introduced: November 30, 2016 Introduced by: Mark R. Warner Democratic · Virginia See on congress.gov
Finance and Financial Sector Bank accounts, deposits, capitalBanking and financial institutions regulation
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This bill died when the 114th Congress ended
It never became law before the 114th Congress (2015–2016) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 21, 2016
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sep 21, 2016
Introduced in Senate
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 Latest action September 21, 2016

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Plain-English summary Congressional Research Service

This bill amends the Federal Deposit Insurance Act to exclude reciprocal deposits of an insured depository institution from consideration as prohibited broker deposits if the total reciprocal deposits of the institution do not exceed the lesser of $10 billion or 20% of its total liabilities.

Reciprocal deposits are those received by an agent institution through a deposit placement network with the same maturity (if any) and in the same aggregate amount as covered deposits placed by the agent institution in other network member banks.

(Generally, an insured depository institution that is not well capitalized may not accept funds obtained by or through any deposit broker for deposit into one or more deposit accounts.)

 Related & companion bills 2
  • HR 5660 Retail Checking Account Protection Act of 2016
  • HR 4116 To amend the Federal Deposit Insurance Act to ensure that the reciprocal deposits of an insured depository institution …
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Republican 3
R
Crapo, Mike
Idaho · Dec 1, 2016
 R
Boozman, John
Arkansas · Nov 30, 2016
 R
Moran, Jerry
Kansas · Sep 21, 2016
Cite this page click to expand
APA
U.S. Congress. (2026). S. 3373: A bill to amend the Federal Deposit Insurance Act to ensure that the reciprocal deposits of an insured depository institution are not considered to be funds obtained by or through a deposit broker, and for other purposes.. 114th Congress. Open America. https://openamerica.io/bill/114-S-3373/
MLA
"S. 3373: A bill to amend the Federal Deposit Insurance Act to ensure that the reciprocal deposits of an insured depository institution are not considered to be funds obtained by or through a deposit broker, and for other purposes.." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-S-3373/.
Bluebook (legal)
S. 3373, 114th Cong. (2026), https://openamerica.io/bill/114-S-3373/.
Markdown link
[S. 3373: A bill to amend the Federal Deposit Insurance Act to ensure that the reciprocal deposits of an insured depository institution are not considered to be funds obtained by or through a deposit broker, and for other purposes.](https://openamerica.io/bill/114-S-3373/)
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