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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...

The move the fed - the fdic made tonight was to say, we're gonna ensure yo above that we're gonna make you hole. which has been huge for lots o small businesses, specifically in the start-up space. because here's what' interesting or important about silicon valley bank. what's interesting is there an enormous concentration to th tech industry, the start-u role what got us here - this bank had about 40 billion dollars. once the pandemic hit, you saw that huge push into start-ups. that huge investment they ballooned to having deposits, almost 200 billion they took a bunch of that mone and invest...

Enormous concentration to th tech industry, the start-u role what got us here - this bank had about 40 billion dollars. once the pandemic hit, you saw that huge push into start-ups. that huge investment they ballooned to having deposits, almost 200 billion they took a bunch of that mone and invested it in mortgag backed securities an treasuries, which -- interest rates are going up. so the question right now is we've made this move to help silicon valley bank's. tonight, you're doing it wit another bank at -- shut down. we're gonna see how they'r gonna help if there is contagion -- if this mak...