WASHINGTON - The House Financial Services Committee is taking a three-pronged approach in addressing some of the bond insurance, liquidity, and credit rating issues that led to or are a result of the turmoil in the municipal market, a congressional source said.

The committee is looking at the possibility of a federal "backstop" to address liquidity concerns following state efforts to address bond insurance problems, and exploring issues that fall under the Securities and Exchange Commission's oversight, such as credit ratings process, the source said.

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