WASHINGTON, June 27 One of the Obama
administration's top officials in charge of reordering the
financial system and reducing government's role in the housing
market is leaving, a Treasury official said on Monday.
Jeffrey Goldstein, Treasury's under secretary for domestic
finance, will leave the department at the end of July and return
to New York to be with his family, the official said.
His departure comes as Treasury and regulators race to
implement the dozens of financial reforms, including a new set
of rules for the estimated $600 trillion over-the-counter
As under secretary, Goldstein helped work on the council of
U.S. regulators' controversial proposal to label certain nonbank
financial companies if they pose a threat to the financial
The so-called Financial Stability Oversight Council, which
is chaired by Treasury Secretary Timothy Geithner, is due to
meet in July. The Council is still working on more criteria that
will determine whether a nonbank, such as a hedge fund or mutual
fund, could destabilize the financial system.
Goldstein, a former managing director of the World Bank, was
also instrumental in crafting policy to cut government support
in the housing market and to wind down the government's mortgage
buyers Fannie Mae and Freddie Mac .
(Reporting by Rachelle Younglai; Editing by Ramya Venugopal)