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additional funding available t help banks meet the needs of their depositors this comes just days after the collapse of silicon valley bank nbc news producer garrett grew back joins me now. gary, what more. do we know >> we do have the statemen straight from -- we will read a portion of it t you now. after a recommendation from th board, the fdic in the federal reserve, and consulting with the president, secretary yelle improved actions enabling th fdic to complete its resolutio of sil...

mirror that fully protects the depositors what does this mean? basically, the depositors will have access to all of thei money starting tomorrow. and no losses associated wit the resolution of silico valley bank are going to b borne by the taxpayer. that is zero dollars there senior management of f s vp ar going to be completely removed from the company, according to treasury and they say that it i decisive action that wil protect the u.s. economy b strengthening public confidenc in th...

The move the fed - the fdic made tonight was to say, were gonna ensure yo above that were gonna make you hole. which has been huge for lots o small businesses, specifically in the start-up space. because heres what interesting or important about silicon valley bank. whats interesting is there an enormous concentration to th tech industry, the start-u role what got us here - this bank had about 40 billion dollars. once the pandemic hit, you saw that huge push into start-ups. that huge investment ...

Enormous concentration to th tech industry, the start-u role what got us here - this bank had about 40 billion dollars. once the pandemic hit, you saw that huge push into start-ups. that huge investment they ballooned to having deposits, almost 200 billion they took a bunch of that mone and invested it in mortgag backed securities an treasuries, which -- interest rates are going up. so the question right now is weve made this move to help silicon valley banks. tonight, youre doing it wit another...