FACTBOX: Treasury proposals for regulatory overhaul

(Reuters) - The following are major recommendations proposed by the Treasury Department to overhaul the regulation of the financial services industry including banks, securities, futures and insurance.

Treasury Secretary Henry Paulson is expected to unveil the proposals, which were published by the New York Times, on Monday.

*Short-term recommendations focus on acting now to improve regulatory coordination and oversight in the wake of recent turmoil in the credit and mortgage markets

*Intermediate recommendations focused on eliminating duplications in the U.S. regulatory system

*A conceptual model for an "optimal" regulatory framework focused on three objectives: market stability; safety and soundness with government backing, and business conduct

SHORT-TERM RECOMMENDATIONS

*President's Working Group should have better inter-agency coordination and communication to mitigate systemic risk to the financial system, enhance financial market integrity, promote consumer and investor protection, and support capital markets efficiency and competitiveness

*PWG should be expanded to include the heads of the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the Office of Thrift Supervision (OTS)

*Creation of a new federal commission called the Mortgage Origination Commission (MOC). Its presidentially appointed director would chair a board comprising of the Federal Reserve, OCC, OTS, FDIC, National Credit Union Administration, and Conference of State Bank Supervisors