WASHINGTON — As President Obama prepared to give a speech Wednesday afternoon outlining his plan for regulatory reform, the Treasury Department began circulating a 85-page white paper that contained new, concrete details about the proposal.

Under the plan, the Federal Reserve Board would have sweeping new powers to dig into all facets of a bank holding company, statutory restrictions on interstate branching by commercial banks would be lifted, and the central bank would be required to get approval by Treasury before using its emergency powers.

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