A leading US senator says both parties in Congress have reached agreement on the outline of a $700bn (Ј380bn) bail-out plan to revive the finance sector.
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He said Congress could act in the next few days to pass a bill on the subject.
The plan is aimed at helping finance firms offload their bad debt, which has triggered a global credit crisis.
"We now expect that we will have a plan that can pass the House, pass the Senate and be signed by the president," Senator Robert Bennett of Utah said after meetings with lawmakers on Thursday.
Details of the package were not immediately available but it is expected to include limits on executives' pay as well as oversight requirements.
The news comes as President George W Bush is set to meet both presidential candidates, John McCain and Barack Obama, to discuss the bail-out and how to revive the economy.
The benchmark Dow Jones index has risen sharply on senator Dodd's comments, adding 3%, to 11,128.7.
Concerns
The bail-out, put forward last week, has been under scrutiny with politicians on both sides nervous about the deal being rushed through too quickly.
Of particular concern has been the issue of pay for the bosses of the firms in question, as well as concerns over the cost of the plan to the US taxpayer.
But both US Federal Reserve head Ben Bernanke and US President George W Bush have warned that without a deal, it would cause a significant set-back to the economy as a whole.
(BBC)
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