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| US to unveil new bank bail-out | US to unveil new bank bail-out |
| (21 minutes later) | |
| US Treasury Secretary Timothy Geithner is due to announce later how he intends to spend the remaining $350bn (£236bn) of the government's bank bail-out fund. | US Treasury Secretary Timothy Geithner is due to announce later how he intends to spend the remaining $350bn (£236bn) of the government's bank bail-out fund. |
| Although no details have yet been released, Mr Geithner is expected to unveil stricter conditions on how the funds can be spent. | Although no details have yet been released, Mr Geithner is expected to unveil stricter conditions on how the funds can be spent. |
| This follows criticism that President Bush did not specify sufficient rules. | This follows criticism that President Bush did not specify sufficient rules. |
| Mr Geithner is also tipped to announce new guarantees to encourage private investors to buy up banking bad debt. | Mr Geithner is also tipped to announce new guarantees to encourage private investors to buy up banking bad debt. |
| Reports in the US say he wants to see big private investors purchase more than $1 trillion in troubled banking assets. | Reports in the US say he wants to see big private investors purchase more than $1 trillion in troubled banking assets. |
| Crisis 'not over' | Crisis 'not over' |
| President Obama said on Monday that Mr Geithner's plan would be a template for "restoring market confidence". | President Obama said on Monday that Mr Geithner's plan would be a template for "restoring market confidence". |
| We don't know yet if we'll need additional money, or how much President Obama Q&A : Bank bail-out | We don't know yet if we'll need additional money, or how much President Obama Q&A : Bank bail-out |
| "The credit crisis is real, and it's not over," added the president. | "The credit crisis is real, and it's not over," added the president. |
| Mr Geithner is also expected to announce new cash injections for banks to further improve their liquidity, new schemes to help struggling homeowners, and renewed efforts to encourage more lending to consumers. | Mr Geithner is also expected to announce new cash injections for banks to further improve their liquidity, new schemes to help struggling homeowners, and renewed efforts to encourage more lending to consumers. |
| President Obama has so far said it is too early to say whether the $700bn bank bail-out scheme, officially called the Troubled Asset Relief Program (Tarp), will need more funds. | President Obama has so far said it is too early to say whether the $700bn bank bail-out scheme, officially called the Troubled Asset Relief Program (Tarp), will need more funds. |
| "We don't know yet if we'll need additional money, or how much additional money we'll need," he said. | "We don't know yet if we'll need additional money, or how much additional money we'll need," he said. |
| Tarp was passed by President Bush in October, whose administration spent the first $350bn. | |
| It is separate from President Obama's wider economic stimulus plan that is continuing to be debated in the Senate. This is expected to cost as much as $800bn. |