Emily Flutter News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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...

Goes to protect depositors normally only up to $250,000 in the case of these two banks all deposits are protected pretty much all of them. and, no taxpayer money i involved in that cycle and in this case, the fdic i going to have to make a specia assessment to increase the amount of money it has in it fund after so much of it goe out in order to make the depositors of these two banks. i can tell you over the weekend, not all of the banks wante this to happen the community banks are saying basically, why should we hav to pay to bail out, as one might say, these larger banks? that is, that is a ...

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...