US Treasury Secretary Timothy Geithner has postponed unveiling the Obama administration's new financial bailout plan to Tuesday as the Senate failed to pass its version of economic stimulus package on Friday.

"Secretary Geithner will postpone the release of the administration's Financial Stability and Recovery Plan until Tuesday," the Treasury said in a statement on Sunday. Geithner had been scheduled to announce the plan on Monday.

The administration wants to spend on Monday focused on the Senate's effort to pass an economic recovery package, Treasury spokesman Isaac Baker explained.

The Senate will be likely to vote on the economic stimulus package early next week after the White House and the key senators reached a tentative agreement on the US$780-billion package.

Now at US$780 billion, the tentative deal would be smaller than the original roughly US$935-billion package. Many Republican senators have said they want the total package's cost down to about 800 billion dollars.

The financial plan that Geithner is expected to detail will spell out how the administration intends to loosen credit.

The first round of financial rescue program has so far provided around US$350 billion to more than 360 banks.

(Xinhua News Agency February 9, 2009)