WASHINGTON — Senate Banking Committee Chairman Chris Dodd is actively considering a regulatory reform bill that would create a single federal regulator for financial institutions, stripping supervisory powers away from existing agencies, according to sources on Capitol Hill.

The bill — which, sources cautioned, remains a work in progress and could be derailed by several factors — also would likely create an interagency systemic risk council rather than give such oversight to the Federal Reserve Board, as the Obama administration has advocated.

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