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Political divisions were discussing we certainly do. >> it safer than ever. the president essentially go in front of an audience toda and said, we've got your back. beyond the 250 grand that th fdic insures we've got you all the way up bill, doesn't that feel, while the administration might not say it is, almost a move towards nationalizing banks? if i'm running a bank and we actually make a move like that i don't know, i now know that have a government backstop tha i can really roll the dice and play yahtzee because the government is goin to have my depositors back >> well, it's absurd tha pe...

Equity firms -- just like during the 200 financial crisis >> you've got rescued that it was the very big most powerful banks some had to go down the tube and suffer i think that is a very interesting policy change that is just occurred here. the fed, the treasury, and the fdic have suddenly agreed. they are going to guarantee th deposits of people, not just 250,000 in the low, that's not that many people but in an ecosystem like silicon valley bank, just like we were hearing the descriptio of how it caters to. now, all of the sudden, you're getting the big veasey firms their portfolio companie...

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 depositors ...

The businesses are going to be able to get their money. they are going to be able to pay their bills. they're not gonna lose anything now, it becomes far less urgen to figure out what's gonna happen to the banks that are basically created out of the shells of this failed banks. if you remember -- another enormous failure tha happened in 2008 in the summer it took nine months and fdic receivership of where it was called so, that could happen here because the urgency is gone. we don't need a midnight dea anymore. that means the government isn' gonna offer the same kind of deals that they might h...

Protecting deposits an providing access to credit, to households and businesses, in manner that promotes strong an sustainable economic growth. here's the real -- after receiving recommendation from the boards of the fdic and the federa reserve, and consulting with the president, secretary yelle approved actions enabling th fdic to complete its resolutio with silicon valley bank and a manner that fully protects all depositors here's where the timeline come in depositors will have access to all of their money, starting monday, march 13th another important line, no los is associated with the sol...