Financial Regulatory Relief and Economic Efficiency Act of 1999

[AI summary unavailable — showing source text] Financial Regulatory Relief and Economic Efficiency Act of 1999 - Title I: Improving Monetary Policy and Financial Institution Management Practices - Amends the Federal Reserve Act (FRA) to permit interest payments on reserves maintained at a Federal reserve bank. (Sec. 102) Authorizes any depository institution, before January 1, 2001, to permit the owner of any interest- or dividend-bearing deposit or account to make up to 24 transfers per month, for any purpose, to another account of the owner in the same institution. Repeals the limitation on the authority of a depository institution to permit the owner of any deposit or account to make withdrawals by negotiable or transferable instruments for transfers to third parties. (Currently, the latter authority may be applied only with respect to the accounts of charitable, religious, and other nonprofit organizations, as well as to Federal, State, and local governments.) Amends the FRA, the Home Owners' Loan Act (HOLA), and the Federal Deposit Insurance Act (FDIA) to repeal the prohibition against interest or dividend payments on demand deposits. (Sec. 103) Amends HOLA to: (1) repeal savings association liquid asset and dividend notic…