The Obama administration has put together the main parts of its plan to revamp financial-market oversight, including giving the Federal Reserve new powers that include authority to monitor and address broad risks across the economy, the Wall Street Journal reports, citing people familiar with the matter.

The proposals are expected to include tougher capital requirements for big banks and authority for regulators to take over a large financial firm that is failing.

Treasury Secretary Timothy Geithner is expected to call for the government to have comprehensive authority over all financial products marketed to consumers, including the consistent enforcement of consumer-protection laws related to mortgages and credit cards, the Journal reports.

The administration's goal is to unveil its proposals before G-20 heads of state meet April 2.

A major component of the plan would be new clout for the Federal Reserve, which already runs monetary policy and has accumulated large new powers since the financial crisis began, according to the newspaper.

Reuters cites a Treasury spokesman as confirming that Geithner will soon propose the overhaul of the financial regulatory system.