UPDATE 1-Top US House bank panel Republican keeps post

(Recasts with Boehner statement)

WASHINGTON Dec 10 (Reuters) - The top Republican on the U.S. House of Representatives Financial Services Committee beat back a challenge and kept his post on the panel on Wednesday.

Alabama Rep. Spencer Bachus will be the ranking Republican on the committee -- which oversees banks, financial markets and housing -- in the 111th Congress convening in January, said a statement from House Republican Leader John Boehner of Ohio.

Bachus had faced a possible vote of no-confidence from his peers, according to congressional aides.

He had angered some fellow Republicans in September with his handling of negotiations on their behalf over the Bush administration's $700 billion bank bailout plan. (Reporting by Kevin Drawbaugh; editing by Richard Chang)