Directs the Board of Governors of the Federal Reserve System to amend "Regulation D" (Reserve Requirements of Depository Institutions) to revise the definition of "savings deposit" with respect to a passbook savings account, statement savings account, or a money market deposit account.
Requires the Board to increase from 6 to 30 the number of transfers and withdrawals a depositor may make per calendar month (or statement cycle or similar period of at least four weeks) to another account of the depositor at the same institution or to a third party by specified means.