Sen. Chris Dodd made it official Thursday that he will remain chairman of the Senate banking committee as the U.S. financial crisis rages on.

The announcement lays to rest questions of whether Dodd, D-Conn., would decide that the grass was greener on another committee. With Vice President-elect Joe Biden's departure from the Senate, there is an opening on the foreign relations committee, where Dodd is the next Democrat on the seniority list. On Thursday, Dodd recalled Biden having told him that an Obama-Biden victory would mean the gift to Dodd of the foreign relations chair.

But at a Capitol press conference, Dodd said, "I'm here today to make an announcement that that's not what I'll be doing."

He said the banking committee is central in the ongoing financial turbulence, and that he'll keep leading it.

Dodd announced a list of priorities for his committee, including oversight of the economic rescue, strengthening consumer protections, focusing on housing needs, and designing "a 21st century financial architecture" for the country.