WASHINGTON, March 16 (UPI) -- U.S. Treasury Secretary Timothy Geithner said his goal was to "accelerate" regulatory changes to help prevent a future financial crisis.
Analysts expect the list of tighter bank restrictions will include more transparency for bank-to-bank transactions and requirements of larger capital reserves for the nation's bigger banks, The Wall Street Journal reported Monday.
Analysts also expect increased consumer protection measures and guidelines to prevent financial firms from dodging the tougher regulations by shopping around for the most lenient regulators to oversee their businesses.
Geithner's priorities roughly match those described recently by Fed Chairman Ben Bernanke and House Financial Services Committee Chairman Barney Frank, D-Mass., the Journal said.
Issues outstanding include Frank's proposal to allow state offices to prosecute national banks and his call for regulating bank executives' compensation.
Geithner has said he wants reform to keep in step with international efforts to reign in risk and keep financial firms in check. "We are going to be ambitious, but we are going to work with them," Geithner said.
