Small Business Banking Regulatory Relief Act of 1999

Small Business Banking Regulatory Relief Act of 1999 - Amends Federal banking law with respect to a depository institution's authority to permit the holder of any interest-earning or dividend-earning deposit or account (negotiable order of withdrawal or NOW account) to make withdrawals from such account by negotiable or transferable instrument in order to make payments to third parties. Allows the owner of such an account to make up to 24 transfers per month, for any purpose, to another account in the same institution.

Allows any depository institution to permit the owner of any deposit or account (currently limited to individuals, nonprofit organizations, and Federal, State, and local governments) to make withdrawals for making payments to third parties. Provides conditions under which a lender or servicer shall pay interest on an escrow account.

Repeals Federal provisions which prohibit the payment of interest on demand deposits.

Amends the Federal Reserve Act to provide for the payment of earnings by Federal reserve banks on balances maintained at such banks by or on behalf of a depository institution in order to meet Federal reserve requirements. Authorizes the Board of Governors of the Federal Reserve System to prescribe regulations with regard to such payments and their distribution and crediting.