US Treasury to unveil new banking sector plan on Monday

WASHINGTON: US Treasury Secretary Timothy Geithner will unveil a new banking sector rescue plan on Monday, a spokeswoman said on Thursday as credit flows remained nearly frozen amid a deepening recession.

Geithner and his staff have been working on new measures to support the ailing financial system with the release of the second half of a $700-billion Troubled Asset Relief Program crafted by his predecessor, Henry Paulson.