The Bush administration have taken ownership stakes in certain U.S. banks as an option for dealing with a severe global credit crisis, AP reports.

Treasury Secretary Henry Paulson told reporters that Treasury was moving quickly to implement the $700 billion rescue effort and he specifically mentioned reviewing ways to bolster the capital of banks.

“We will use all the tools we’ve been given to maximum effectiveness, including strengthening the capitalization of financial institutions of every size,” Paulson said at a Wednesday news conference.

Asked whether he would try something like the British plan, Paulson said: “We have a broad range of authorities and tools. … We’ve emphasized the purchase of liquid assets, but we have a broad range of authorities. And I’m confident we have the authorities we need to work with going forward.”