Creditors are favorable for the governments package of new. The debt crisis has raised worries that greece might leave the eurozone but the president says that is not the cards. It is not discussed. It shows we have a Strong Political commitment to keep the eurozone intact to keep its integrity intact, and to Work Together strongly. I think that is key. If politicians dont have that determination, a gives a very strange and negative signal to the trust we have any monetary unit we have built. Betty the current bailout expires on saturday. Greece isnt the only country facing a cash crunch. Wartorn ukraine signaling it will need more money sooner. The International Monetary fund has promised and officials of indicated that might not be enough. Several countries are meeting and europe today to try to make both sides except a ceasefire deal as fragile as it is. Prosecutors want to know if the worlds biggest bank minute belated gold and silver prices. People familiar with the matter says 10 banks are being investigated, among them jp morgan, goldman sachs. Agencies say they are cooperating with the probe. Jp morgan institutional clients will not have to pay fees on certain deposits. Company blaming new regulations for the move. It says it has to come up with more capital to back the funds and that makes holding the money for clients too expensive. It aims to reduce the deposit by billions of dollars. A new merger will combine two of the biggest u. S. Brokerages outside of new york. The deal cash and stock deal is with 150 million. We will find out more about this merger in our next hour. We will be joined by run cushion skied. Apple has found a smarter way to run its genius bar. You know you have to walk in and a problem before you are given an appointment time that is usually five hours ahead. Apple is starting a new Concierge Service that we use an algorithm to prioritize customers. The worship problem is, the sooner you will be seen. Customers will leave the numbers so they can get text updates on their wayit time so you have to wait in the store until they call your name. That is genius from the genius bar. Janet yellen heading to capitol hill this morning for two days of testimony on the economy. She could offer new clues for the feds plan for Interest Rates and she faces a growing backlash in congress. Peter cook has more on this. Issue heading into hostile territory today is she heading into hostile territory today . I was adjust it is challenging territory for her today. First time she has been on the hill since republicans took over congress. You will see a change in tone because of that. A couple of things to watch for today read we are looking for any clues from janet yellen on when they might start raising Interest Rates. Issue less or more patient that she was a few weeks ago when she spoke in front of cameras . You have the big push on capitol hill to augment the Federal Reserve. The reality is it may not go anywhere given where the votes stand right now. Questions about the feds role as a regulator will also be a dominant theme today. Betty who will give her a harder time this time around . Will it be republicans or democrats . There are more republicans on the panel so the odds are with them. You will hear more from the republicans on the oversight question and whether or not the fed has exceeded its authority. I will listen for democrats to push her to not push Interest Rates too soon. Perhaps not everyone has felt a turn in the economy yet and maybe there should be more patients there. I would expect democrats to give her a harder time about the regulatory capture questions. As the fed got into close to the banks . Betty thank you so much. He will be covering that testimony. Be sure to catch his interview with Richard Shelby after the hearing. You get his reaction at 2 00 p. M. Eastern time. Staying with todays testimony i want to bring in my guest host for this hour. Jim reynolds from chicago where it is even colder than it is here. Much colder than it is here. And ellen greenies. We spoke with many investors over the last several weeks. They have been anticipating today. What are we going to hear . I think we will hear more of staying the course. I dont think we will hear any market moving recommendations today. The market is rounding nicely coming into this testimony. About 10 or 11 Straight Days in a row. That seem of patients will resonate through her comments. We will get a sense of the improvement in the economy. I think we will have some dialogue about the dollar and overseas and the labor force strengthening. Betty even though we have been anticipating this for the last several weeks, it will be much of what we expect, right . That is my view. I dont think we will get any surprises today. I wouldnt disagree with any of that. The way i look at this thing today is that the real context here is how the market interpreted and those had a cautious tone. I would emphasize that it is a punch of risk management. The fed is getting closer to raising rates. It will be very scary because it is uneven. When i go into this at 10 00 a. M. This morning, i look at this as what is her incentive . That she want to be a little more hawkish . She needs to breed a little more flexibly for herself in the fed and the fed. What they do need is more flexibility. With the market priced at the end of this year and some cases in early of january next year whether or not she raises rates again betty but its in the market interpreting the fed right now as to thedubbish at this point . I dont think so. Give clear signals to the market place. Unlike greenspan where you had to figure out what he was figuring out what he was saying. Betty you had to look at has tie and every tick. She has allowed more discourse within the members. We hear more about it although they do come out with unanimous decisions most of the time. What i think is going to be irrespective of whether it is june or september or december, we need to continue to look at what the signals and factors are. Oil prices are coming into the discussion now. They werent a year or so ago. Those are some of the things that the market is going to be looking for. Betty i just want to read from you one part of the text minutes that were released. Many participants regarded dropping the patient language in the statement whenever that might occur as risking a shift in market expectations. Spot on. You wont hear her deviate from that one bit. Know you wont. No you wont. What this effectively does is boxes them in because now they are in a situation that one eye drop patient not everyone is interpreting a pledge of two meetings. Maybe the fed doesnt go to meetings. Go two meetings. I think it was a poor choice of words. What they do is adapt the same exact wording that greenspan adopted in early 2004 to demonstrate where he was at that point in that cycle. That was a tactical mistake. Betty would you agree with that . I think the market is looking for various signals. If she dropped it and that might happen, i think immediately the market says it is not there. Maybe we should begin to anticipate a move. I am not sure if that should be it. She should stay with the theme of we are going to look at the data which we have not gotten. We will begin to see if in fact the factors prevalent in the economy dictate we should move. Betty as we noted, there would be a risk in market expectations. Maybe it would be a soon on the shift a tsunami shift. Eric, hang on. A gym as well. We will have much more on the markets. Bloomberg television will be during her testimony live and throughout from 10 a clock a. M. Macys coming out with fourthquarter results. Fourthquarter profit and sales of the outlook was a little bit light. The consensus was 4. 84. Revenue for the full year will about 1 and comparable sales will rise about 2 . In the release, it says macys is shifting for focus on faster sales growth while maintaining its profit rate. Currently it is down 1. 8 on this lighter than anticipated forecast for the full year. Betty thank you. Much more on spending and doing. Home depot releasing their earnings as well and announcing a multibilliondollar Share Buyback. Greece is closer to a bailout deal. We will get opinion from the countrys new Democracy Party live from athens. That is next. Betty here is a look at our top stories this morning. The Eu Commission says a package of new economic measures was comprehensive but we are still waiting to hear from the finance minister. Greeces commitment would include revamping tax collections. Ukraine says a peace accord is not working. Ukraine contends prorussian separatists are not pulling back. Foreign ministers from ukraine russia, germany, and france are meeting today. Now i look at other stories we are watching. Americans flock to home depot. It posted earnings this morning that be estimates that beat estimates. And 18 billion Share Buyback was also approved. A rough commute for two people in south korea. A man and a woman consumed by a sinkhole seconds after stepping off a bus. The plunge was captured by surveillance cameras. They were pulled out and received minor injuries only. They are trying to find out what caused the sidewalk to collapse. Best treatment for childhood peanut allergies may be exposing them to peanuts. The children who avoided peanuts were seven times more likely to be allergic to them than those who ate them three times a week. Sometimes it turns the allergy on its head. Greece has moved one step closer to winning the four month bailout extension. I want to go to Erik Schatzker where he is joined by a member of the new greek democratic party. Thank you very much. I am here with the member of the new Democracy Party who has been in Parliament Since 2004. Thanks for having me. The eu has pronounced the package reforms submitted to the eurogroup sufficiently competence of. What about sufficiently competence rehensive. This is a very spectacular uturn. A lot of the commitments were assumed by the previous government. They are not consistent with what was said before the election. What is the risk then that he fails . He will have a tough time convincing is leftist faction that he should abandon some of the more excess of campaign excessive campaign efforts. You have to manage your domestic constituency after election. The good point is that a lot of this reform is moving in the right direction and we now have the time as a country to articulate a convincing reform package. The bad thing is there is no money on the table yet. We seem to have gotten the memorandum without the money. At the end of the fourmonth. , there will be at the end of the fourmonth time, there will be money on the table. There are still questions unanswered. It sounds to me as though you as a member of the opposition broadly speaking support what he has proposed. We support and i said a very clearly in parliament that we are supporting this adjustment to realism that is in the process of executing. We will support any reform that is good for the country. We will support reasonable fiscal circumstances. We will never support the government and doing all of the good reforms which took place over the two and a half years we were in power. We didnt see any of this in a letter. Rest assured, a lot will push the party to them, alex World Campaign promises. How difficult will it be to execute . It will be difficult for several reasons. This party does not have any real experience in governing. It is one thing voting it and another thing implement it. What are the chances in your mind at four months from now greece finds itself in the same position it was in on friday on the verge of sovereign insolvency and an exit from the euro . I hope it doesnt happen but it depends on the government making good use of this for months on this four month period. Our plan from the beginning was to exit the memorandum phase and allow greece to tap the International Markets as a normal country. Whether this can take place after four months, i dont know. Are those chances less than 50 . I am not willing to put a number. We will support any reform that moves in the right direction. Thank you very much. That is the view on the ground from athens. Betty thank you so much. Erik schatzker there from Market Makers. Much more ahead including banks, bonds, and a big number. We are talking trillions of dollars. Jp morgan just outlining they are expecting a lower return on equity. They have their investors date starting in moments. We will talk big banks with jim reynolds. Betty you are watching in the loop live. Good morning, im betty liu. 2. 1 trillion. That is how much commercial banks in the u. S. Currently hold in the treasuries and that from several agencies. It is the largest amount since 1973 in spy of a growing economy and strong hiring data. Part of that buildup has to do with the rules of holding high quality assets in the wake of the financial crisis. Happening right now, jp morgan is holding its investors conference. It will be starting in a few moments. The bank is saying they presented in advance that there is no value in breaking up but that the bank will continue to cut cost to the tune of nearly three million dollars. That division has to hold more capital. Still with me is my guest host this hour, jim reynolds and also evergreen stays with me as well eric green stays with me as well. When you hear jp morgan and by the way jamie dimon has been at it with regulators saying you have to lower your expectations because of regulation. You say what . This was a topic we talked about the last time i was here. This theme of breaking of jp morgan. I said then that it was not a good idea. And a lot of the profitability of the bank occurs because of the synergy within that bank. There was a conversation about breaking up the Corporate Bank and the commercial break. When you look at those entities they are as strong as they are because they Work Together under a very strong leader with a very strong vision. That is the proper course and i think that is the message i certainly agree with. Betty when you hear about how much capital they have to hold 2. 1 trillion on the books of banks not being put to work. How is that helping the economy . It is in helping the economy but it is a mimetic of everything that has been going on over the past three or four years. Corporations own a boatload of cash. When you have is a lot of financing going on in the Debt Capital Markets as opposed to normal bank lending. We are at the point now where it is a reflection of the deleveraging cycle and lower interest markets. We are starting to get this organic job growth that will take care of the lending equation overtime. It is sort of like an europe. The amount of cash on the Balance Sheets of banks in general regulatory has to do a lot with it. As we began to walk back to what happened in the mid1980s with the leveraging of banks also we are not seeing demand on the demand side of the equation for laws. It is not happening in the Housing Market, Business Market or with the consumer. Debt frightened the consumer in 2008 and 2006 and 2007. They have not come back to have a hearty feast on that again. Betty i hear both sides. I hear there is a demand but things have also tightened. It is a lot harder to get the loan. We saw the write offs. You talked about it through the crisis. You can get a home loan with no job, no income and no visible means of support with no assets. You can get a mortgage and buy a house. For that to tighten up is reasonable. Betty dealing with regulators, the jamie dimon way is to say last month that you dealt with one regular and now it is five or six. You should all ask a question of how american that is and how fair that is. The other way is that it is not a shock that the pendulum would go very far. Which is the best way . I would say they both have their points because jamie dimon has to deal with more regulators because he is truly a big banker. Goldman sachs is a big bank because it was convenient to be a bank at the time they became a bank. He has to deal with it and accosted him billions and hundreds of thousands of employees to deal with that. It is very cumbersome. Blankfein deals with that also but it is much less restrictive. They have to deal with things overtime to have become pretty good for those guys. Betty hang on one second. Eric, thanks for joining us. We will be back with jim reynolds. I have to get you caught up on the top stories. Greece closer to getting a four month bailout. Greece is promising to fight corruption and tax evasion. The head of Blackrock Financial Services larry fink talked about the crisis with charlie rose. He says the countrys troubles are far from over. Greece in my mind as part of the international grid. If you want to remain in the grid, you will have to ultimately conform. If they dont conform they will become argentina. Betty the current bailout expires on saturday. A new merger will combine two of the biggest u. S. Brokerages outside of new york. People financial agreed to by the eastern aging group of alabama. The stock and cash deal is worth 150 million. We will find out more about the merger in our next hour when we will be joined by ron. The Homeland Security department runs out of money in just four days. Mitch mcconnell is looking for a way to end the standoff. The Senate Majority leader says he is removing controversial a momentum the Agency Funding bill. They have secure and congress not to pass just the temporary spending measure. To those in congress who may be contemplating funding are kicking the can punting or kicking the can down the road the consequences are also severe. Betty if the spending plan does not go through, Homeland Security will be forced into a partial shutdown. Prices are near a two week low traders are waiting on food inventories. New information is due out tomorrow. Stockpiles probably increase last week by nearly 4 million barrels. Facing sluggish