“Treasury has an entire team dedicated to reviewing the financial regulatory rules and will begin reporting our findings to the president in June,” the department spokesperson said.
“Given the volume and scope of the issues we are reviewing that involve potential changes to the financial regulatory system, we are carefully considering the best options to begin rolling them out in the most effective and responsible manner,” the spokesperson said.
The Treasury Department will first report back on what banking rules could be changed, including capital requirements, restrictions on leverage and speculative trading.
Examinations of capital markets, clearing houses and derivatives as well as the insurance and asset management industries and financial innovation and banking technology will come later, the sources said.
It could be several months until these other stages of the financial reform review are completed, some of the sources said.
The piecemeal approach could create challenges for some sectors if parts of the report are significantly delayed. The report has been highly anticipated, as it marks the new administration’s most detailed foray into outlining what it wants to do with financial rules.