The Obama administration has set June 17 as the launch date for the announcement of a new series of regulatory reforms as relate to the financial landscape, according to Reuters. The reforms will likely include some kind of consolidation of the nation’s various banking regulators, say sources within the U.S. Treasury.
The reform will serve to establish a new structure for how banks and other financial entities operate in a post-recessional marketplace. Topics on the table for regulators include the introduction of a systemic risk monitor, and the division of regulatory authority among the country’s various bank overseers.
A consolidation of regulators is likely to occur, with a likely merger of the authorities of the Office of Thrift Supervision and the Office of the Comptroller of the Currency.
Treasury Secretary Timothy Geithner will speak before the House Financial Services Committee on June 18 to explain the layout of the new reforms.