Treasury Secretary Timothy Geithner said Tuesday that the Obama administration will not propose empowering the Federal Reserve Board to take sole responsibility for handling systemic risk, saying that the job is too complex for just one agency.

In his comments to a Senate panel, Geithner hinted that he would support a regulatory council — an idea suggested by Federal Deposit Insurance Corp. Chairman Sheila Bair in April.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.