A new bill to tighten regulation of US banks is due to be unveiled on Monday, but it is unclear if it will succeed in gaining Senate support.

The legislation is being presented by Democratic Senator Christopher Dodd, chairman of the Senate Banking Committee.

He is moving ahead with the bill despite Republicans on the committee withdrawing their backing last week.

Mr Dodd needs some Republican support to get the bill through the Senate.

This is because - following the Republicans victory in the Massachusetts Senate election in January - the Democrats no longer have the 60-seat majority required to defeat blocking.