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WASHINGTON (Reuters) - The Obama administration wants to designate the Federal Reserve as the new systemic risk regulator and give the Federal Deposit Insurance Corp authority to unwind bank holding companies, a source familiar with the administration's proposal said on Wednesday.
The plan, which will be offered to U.S. lawmakers as a blueprint as they embark upon an overhaul of financial regulation, could be announced soon after June 8, the source said, speaking anonymously because the plan has not been widely shared.
The administration wants a consumer protection agency to supervise f