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day on wall street, the u.s. government steps in to protect a failed bank, promising depositors they won't lose a penny. one film won everything everywhere all at once at this year's oscar awards. plus already-flooded parts of california bracing for yet another powerful storm. >> live from cnn center, this is "cnn newsroom" with rosemary church. good to have you with us. we begin here in the united states where the biden administration is stepping in to contain the fallout from the sudden collapse of silicon valley bank. authorities say customers will have access to all their m...

the federal government is now stepping in to calm financial panic over the failure of two u.s. banks. >> the biden administration announcing it will extend a federal backstop to all the banks deposits. >> treasury officials push back on the idea this was a bailout saying the burden is not borne by the taxpayers. >> we'll hear from president biden moments from now. >> water everywhere, causing chaos across central california. >> warnings of intense sustained flooding in the days ahead. >> it's unimaginable. >> folks, we are not done yet. >> former vice president mike pence telling a c...

top of the hour this monday, big day for banks. >> i'm erica hill, and the president is speaking to americans with a calm an reassuring tone on the heels of two failing banks over the weekend, and sparking concerns about whether it could lead to more. his message with the american banking system is safe. >> all customers who had deposits in these bans ks can rt assured they will be protected and access to their money today. that means that those who bank there and need to make payroll and pay bills and stay open for business, and this is an important point, no losses will be borne by...