(UPI) – A $250 billion direct stake in banks is among the planks included in the $700 billion bailout plan for the U.S. financial system, President Bush said Tuesday.

The plan, which Bush described as a systematic approach to the current financial crisis, directs the Federal Deposit Insurance Corp. to back up certain bank debt for three years as well as insure deposits in non-interest bearing bank accounts.

The government will temporarily guarantee lending between banks, a critical function that provides businesses with cash for day-to-day operations, Bush said.

Also, the Treasury Department will issue guidelines to curb the pay of executives at companies participating in the bailout.

As part of the effort to inject the financial system with cash, the U.S. Federal Reserve made unlimited funds available to other major central banks so they could pump money into banks in their countries' financial systems.

"It will take time for our efforts to have an impact but the American people can have confidence," Bush said, adding that the government actions are aimed at the "root cause" of the problem.