US Financial Rescue Plan Delayed A Week -CNN

President Barack Obama said earlier in the day the plan would be announced soon and would help lower mortgage costs for homeowners.

The announcement of President Barack Obama's financial rescue plan will be pushed back a week to the second week of February, CNN reported on Saturday, citing administration sources.

"Administration aides are saying that they want to get the details right, that there are a lot of moving pieces, and so it's going to take an extra week," CNN said.

Administration officials are weighing elements to include in the plan, including whether to restrict executive compensation, how to get credit markets flowing and how to deal with the foreclosure crisis, CNN said.

Efforts to get the first installment of the $700 billion bailout initiative were rushed, resulting in difficulties, and the Obama administration believes that "getting these details right might make sense," CNN said.

President Barack Obama said earlier in the day the plan would be announced soon and would help lower mortgage costs for homeowners and spur the flow of credit to businesses and households.