U.S. banking regulators will outline on Tuesday a sweeping government response to the global credit crisis that will aim to “restore functioning of our credit markets,” the Treasury Department said on Monday.

Treasury Secretary Henry Paulson, Federal Reserve Chairman Ben Bernanke and other top regulators will announce details of the plan at 8:30 a.m. EDT, a Treasury official said.

The regulators and policy-makers will describe “a series of comprehensive actions to strengthen public confidence in our financial institutions and restore functioning of our credit markets,” the Treasury Department said.

Source: http://www.afxnews.com

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