A revamped bank-bailout plan will be presented by the US Treasury Secretary Timothy Geithner on Tuesday. The proposals took shape on the basis of the updates provided by the Treasury officials, in order to alleviate the troubles of the financial sector devastated by towering losses on mortgage-related debts.

In his new announcement, Geithner will also rename the $700 billion TARP fund as the Financial Stability Plan. According to sources, the plan comprises $50 billion in the form of measures for curtailing home mortgage foreclosures.

Intending to shore up nearly $1.5 trillion in new lending and handling of troubled assets, the proposals of the plan are aimed in three main areas - additional capital for banks; financing for about $1 trillion of consumer and business loans; and public financing for investors prepared to purchase the distressed assets.

Even though cash infusions will continue under Geithner's plan, but the Treasury will be stricter in the sense that it will inquiring from banks how the funds received by them have contributed to increased lending.

Meanwhile, to set off the revamped bank-rescue proposals that Geithner was to announce, President Obama has urged the Congress to speed up its approval of an economic stimulus package. At a Washington news conference, Obama said a delay in this regard will "potentially create a negative spiral that becomes much more difficult for us to get out of!"