$50 bln US bank liquidation fund still on the table:Dodd

A $50 billion fund to cover the costs of winding down troubled financial firms is still on the table in the U.S. Senate, Democratic Senator Dodd said.

$50 bln US bank liquidation fund still on the table:Dodd

A $50 billion fund to cover the costs of winding down troubled financial firms, financed by fees on large firms, is still on the table in the U.S. Senate's sweeping overhaul of Wall Street regulation, Democratic Senator Christopher Dodd said on Friday.

Republicans have insisted that the fund be removed as a condition for allowing the bill to come up for debate. Asked if the fund was still on the table, Dodd said: "Yes it is."

"That's one of the things we'll be talking about over the weekend" with Republicans, Dodd told reporters.

Senate debate on the bill began on Thursday and is expected to continue for the next two weeks or more, followed by a vote next month.

Aside from the $50 billion fund, other key sticking points include the scope of consumer protection efforts and the degree to which the $450 trillion derivatives market would be regulated.

Reuters

Last Mod: 30 Nisan 2010, 23:58
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