Brief recess with more questions including crypto currency, Cyber Security and hiring practices. They also touched on the economy and inflation. This is an hour and 45 minutes. The committee will come to order. The chair now recognizes the gentleman from guam, mister sam nicholas for five minutes, welcome. Thank you mister chairman, can you hear me okay . Thank you. Thank you mister chairman. I want to first begin by recognizing miss fraser and citigroup, the conversation im going to have to actually involves all the panelists but i wanted to begin with her company and herself as based on our research it looks like citigroup pays five times more in interest to its depositors than the rest of the individuals sitting at the table. Miss fraser if upcorrect your deposits are yielding. 05 percent interestrate . We believe we have, well we have a variety of different deposit products and we need them to be competitive and fair. The information i have here on your basic account policy is a. 0
Thank you so much mister chairman. Can you hear me okay . Unclear. Thank you mister chairman. I want to you first begin by recognizing mr. Fraser and citigroup, the conversation im going to have involves all the patent list, but i want to begin with her company and herself. Based on our research, it looks like citigroup pays five times more in interest to its depositors than the rest of the individuals sitting at the table. Miss frazier, your deposits are currently 0. 5 Interest Rate . We believe we have a variety of different deposit products. We believe them to be competitive and fair. The information i have here on your basic account package is a 0. 05 Interest Rate, is that correct . One of our products has, that that is correct. For the rest of the panel, is it fair to say that my members here are accurate for the remainder youre paying about 0. 01 on deposits . That is inaccurate. Can you please clarify then for me the figure . Yes, our base account pays about the same as the cit
That chair is authorized to declare races of the committee at any time. This hearing is entitled, Holding Meghan banks accountable. Oversight of americas Largest Consumer facing banks. I recognize myself for four minutes to give an opening statement. Testifying before us today, we have the ceo of the seven largest u. S. Commercial breaks that each serve millions of consumers. Chairwoman of this committee, i prioritize connecting rigorous oversight over our nations largest banks and their activities. Last year for these mega banks that survived for us. Since then our motion continues, to battling ongoing epidemic. Inflation that is affecting every household budget, russias invasion of ukraine, raising Interest Rates another crisis. And better that economy. In this environment, the role of banks played to protect consumers and provide access to Affordable Credit is absolutely critical. Over the past several years that weve seen several symptoms of banking across the country take a dramat
Grades from it. And in terms of the Transbay Program as part of this the negotiation it was agreed that the dtx would be designated as a regional priority for the federal program. And the, region has typically carried to the projects, and this is in the new starts with the funding and Northern California has received. And for the many years, the projects in that type line and the central subway and the first half is the part of the san jose and those two projects were negotiated on the verge of completing the full Funding Grant agreements which is the last step in the new starts pipeline when you get a full Funding Grant agreement you get a guaranteed amount for the federal funding for construction and it is a significant amount of funding and so, that opened up the two shots in the pipeline, and it was a long term goal for tjpa to get one of these designated. And it is falling away and the largest funding stream that exists for this type of a transit expansion, those are made official
And number two your environmental work for the extension is almost done and it should be done some time late in 2014 or early 2015. And number three, the 30 percent design work already done. And otherwise, this project is almost shovel ready, which is very important for the Infrastructure Development and project delivery and on top of that, i want to emphasize the strong support that they have seen here and discuss with the stake holders in the last month but evan agrees that there is a benefit in accelerating the project. And i want to say that again, this is the profile it is a tunnel and the water table issues and this is complex, that lends itself to design the efficiency and incorporated in p3 and terms of a design build contract with the p3 developer as well as the main nens and facilities. And let me go to the actual advantages of a p3, and now, brian mentioned the acceleration, in terms of the project delivery of a p3 singer project in the recent analysis and it was a slide on