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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...

Situation where the depositors are being made whole because they're only allowed t use that by law if all those people mentioned in that lis that you just read agree tha the situation is systemicall important. that there is a systemic ris being posed here and if they didn't do this that i could really cause spiraling problem in the financial system >> emily, i'm so grateful to you for bringing your expertis and your reporting all this breaking news, than you for being with us. still to come, we're gonna ask a member of the -- treasury department's action to address the collapse of silicon vall...

Order for the fdic to do wha it just did. the fdic board, which is mad up of the -- currency, the cfpb director, and other fdic board members i addition to the chairman, they had to sign off on it. the treasury secretary had t sign off on it so did the president that's in dot frank. if they hadn't done that, they could be accused of followin the law and not taking the proper steps, and it's a reall big deal that they use thi profession to create thi situation where the depositors are being made whole because they're only allowed t use that by law if all those people mentioned in that lis that ...