FACTBOX-Obama plan for tightening U.S. financial regulation

June 17 (Reuters) - President Barack Obama laid out his vision Wednesday for overhauling the U.S. financial regulatory system.

Here are the main provisions as outlined in an 88-page document summarizing the plan and released by the Treasury Department:

*ELIMINATE THRIFT CHARTER, CREATE NATIONAL BANK SUPERVISOR

Bank regulation would be streamlined with a new National Bank Supervisor assuming the functions of both the Office of Thrift Supervision and the Office of the Comptroller of the Currency. The plan would eliminate the charter for thrifts that underlies that U.S. savings and loan industry.

*CREATE SYSTEMIC RISK REGULATOR

The plan would make the Federal Reserve the consolidated supervisor of large, systemically important and interconnected firms.

*CREATE FINANCIAL SERVICES OVERSIGHT COUNCIL

Chaired by the Treasury Department, the council would fill regulatory gaps in the system. It would replace the President's Working Group on Financial Markets and would play a role in identifying systematically important firms to be regulated by the Fed. In addition to the treasury secretary, the council would consist of the chairman of the Fed, the director of the new National Bank Supervisor, the director of the new Consumer Financial Protection Agency, the chairman of the Securities and Exchange Commission (SEC), the chairman of the Federal Deposit Insurance Corp (FDIC) and the director of the Federal Housing Finance Agency.

*MORE STRINGENT CAPITAL AND LIQUIDITY STANDARDS