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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 silicon valley bank tha mirror that fully protects the depositors what does this mean? basically, the d...

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 the banking system. now, one big thing, th statement did not say wa anything about the sale of the ban...

Evening. please bring us some news as you have it. joining us now, emily flutter. she is a finance reporter at the new york times emily, i know you have bee working the phones since w spoke last what have you learned? what >> the regulators were no going to wait and see how th situation played out on monday i was shocked to see tha signature bank has failed. and it seems like it came as a shock to a lot of people it is a sign that th government and the financial regulators thought that th situation was so bad that they couldn't take the chance o watching another bank try to grapple with this c...