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House panel to hear Geithner on reforms: aide

WASHINGTON
Fri Oct 23, 2009 5:29pm EDT

WASHINGTON (Reuters) - U.S. Treasury Secretary Timothy Geithner and other regulators will testify next Thursday before a House of Representatives committee on systemic risk and other financial reform issues, said a House aide.

Barack Obama  |  Economy

Geithner will be joined by Federal Deposit Insurance Corp Chairman Sheila Bair, Comptroller of the Currency John Dugan and Federal Reserve Governor Daniel Tarullo at a hearing held by the House Financial Services Committee, the aide said.

The hearing will focus on Obama administration financial reform proposals, including creating a systemic risk regulator, reforming debt securitization and resolution authority, or new powers for the government to deal with large non-bank financial firms that are in trouble, the aide said.

Democratic committee Chairman Barney Frank intends for the hearing to focus on a new resolution authority proposal from the administration, the aide said.

The new proposal still had not been unveiled on Friday.

(Reporting by Kevin Drawbaugh)



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