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12/9/2021 Readout: Secretary of the Treasury Janet L. Yellen’s Meeting with the Bank Policy Institute | U.S. Department of the Tr… Readout: Secretary of the Treasury Janet L. Yellen’s Meeting with the Bank Policy Institute December 8, 2021 WASHINGTON — U.S. Secretary of the Treasury Janet L. Yellen met with the board of the Bank Policy Institute (BPI) today to discuss the state of the economy and the Biden-Harris economic agenda. Secretary Yellen highlighted the progress of the economic recovery and discussed how the newly passed bipartisan infrastructure law will help increase long term economic growth and American competitiveness. She also stressed the importance of passing President Bidenʼs Build Back Better Act to lower costs for families, boost labor force participation, and tackle vital issues, like climate change. In addition to listening to the perspectives of CEOs in attendance, she stressed the urgent need for Congress to raise or suspend the debt limit and noted the progress being made on Capitol Hill to protect the full faith and credit of the United States. The participants also discussed the Presidentʼs Working Group on Financial Marketsʼ recent report on stablecoins and the need to put in place a regulatory framework for these digital assets. The attendees included: Ignacio Alvarez, Esq., President and CEO, Popular, Inc. Greg Baer, President and CEO, Bank Policy Institute Jean- Laurent Bonnafé, Director and CEO, BNP Paribas Kevin Cronin, President and CEO, MUFG Americas Holdings Corporation William S. Demchak, President & CEO, PNC Financial Services Group Victor Dodig, President and CEO, CIBC Richard Fairbank, Chairman and CEO, Capital One Financial Corporation Christopher M. Gorman, Chairman, CEO and President, KeyCorp Roger Hochschild, President & CEO, Discover https://home.treasury.gov/news/press-releases/jy0521 1/2 12/9/2021 Readout: Secretary of the Treasury Janet L. Yellen’s Meeting with the Bank Policy Institute | U.S. Department of the Tr… Bryan Jordan, President & CEO, First Horizon Corporation Bharat Masrani, Group President and CEO, TD Bank Group Kanetsugu Mike, Chairman MUFG Brian Moynihan, Chairman and CEO, Bank of America Michael OʼGrady, Chairman and CEO, Northern Trust Michael Roberts, President and President, CEO and Executive Director, HSBC North America Holdings Inc. Javier Rodríguez Soler, Global Head of Sustainability, BBVA Charlie Scharf, President and CEO, Wells Fargo & Company Bruce Van Saun, Chairman and CEO, Citizens Financial Group, Inc. Timothy H. Wennes, President and CEO, Santander Bank Darryl White, CEO, BMO Financial Group https://home.treasury.gov/news/press-releases/jy0521 2/2
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