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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...

cruise missiles. at this hour former trump lawyer michael cohen is before a manhattan grand jury investigating hush money payments made to stormy daniels. straight ahead what he told us as he enter had courthouse. and the assurance from president biden to americans worried about their money after the collapse of two big banks in a matter of days your deposits, he says, are safe our nbc reporters are here with the latest developments. and that's where we begin on wall street, where the markets have been up and down all day after the president tried to convince americans the collap...

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...

After the recent failures of California-based Silicon Valley Bank and New York-based Signature Bank, many small businesses are hoping to see the FDIC insurance limit raised.

Treasury Secretary Janet Yellen said that the federal government could intervene to protect depositors at small banks if the fallout from Silicon Valley Bank’s collapse keeps growing.