ahead of the trading day on wall street, the u.s. government steps in to protect a failed bank, promising depositors they won t lose a penny. one film won everything, everywhere, all at once on this year s oscar awards. already-flooded parts of california bracing for yet another powerful storm. this is cnn newsroom with rosemary church. thanks for joining us. we begin in the united states where the biden administration is stepping in to contain the fallout from the sudden collapse of silicon valley bank. authorities say customers will have access to all their money starting monday morning. the president also promised to hold those responsible for the bank s failure fully accountable. he will speak about the issue in the coming hours. regulators also shot down another regional institution, signature bank, fearing it was also on the brink of collapse. cnn s arlette saenz has more. reporter: the biden administration took extraordinary steps sunday to ensure that al
time, they are going to ensure all deposits, even those over $250,000 limit. investors will have insulation of the federal government, that is problematic. todd: alexandria hoff will break it down. regulators have waved the limit for depositors and know did the same for signature bank, which was shut down over the weekend. silicon bank, many assets were uninsured, it will prevent a run on banks and companies that bank with svb can make payroll. pinterest and zip recruiter, just to name a few. fdic reads, depositors will have access to their money starting monday, march 13th. no losses will be born by the taxpayer. the president is preparing additional comment. what about the banking crisis? president biden: tomorrow morning talk to you tomorrow morning. the president is set to deliver remarks at 8 a.m. eastern time. a bank bailout was never on the table, said janet yellen. there were investors and owners of systemic large banks that were bailed out and we re cer
the goal overall will be to instill confidence in the american banking system. federal regulator said depositors will have access to their money today. the measures have effectively waived $250,000 insurance and of $220 billion in assets uninsured. at least 29 companies were impacted by svp collapse like pinterest, fitbit, ziprecruiter to name a few. the same has been done for new york signature bank, which was shut down over the weekend pure treasure secretary janet yellen said the action does not equal bailing out the banks. we are in the middle of a financial crisis. if you were investors and owners of systemic, large banks that were built out and we are certainly not looking to reform put in place and that means we will not do that again. but we are concerned about depositories ever focused on trying to meet their needs. ceo of pershing square eckman agrees this was not a bailout in terms of how the term has been used as of recently mainly because taxpayer funds will
water rescues under way. ginger zee here in new york, rob marciano in california, both tracking it all. in new york city, just in t who drove that home depot truck into several pedestrians, killing them, has just learn h fate. ao news just involving the republican in tdeea lsenarte, mitch mcconn after hiea tsall, hospital, but not going home. mary bruce is live. the criminal investigation involving former president trump. the grand jury here in new york hearing from a key witness today from trump s one-time confidant, lawyer and fixer. and tonight, trump on whether he ll testify. aaron ka sterdy reporting. the scare onboard a eye nig united flight. and the airport where it was landing ccert tem canceled for bruce springsteen. what they re saying tonight. also news coming in this evening, two rockets landing at a u.s. base. also, news on men aernd the guidance toghnit. the oscars. the michelle oh moment. tonight here, what you didn t d lee jieam parents, once nominat
san diego is called off. south korea, american troops 11 days of joint military drills just as north korea fired two strategic cruise missiles from a submarine. it s hard to k know how many ukrainian soldiers have been killed in this war, but the government just won t say. but in bakhmut its estimated hundreds are killed or injured every day. norah: and a historic night on hollywood s biggest stage. ladies, don t let anybody tell you you are ever past your prime. splunk at evening and thank you for joining us as we begin a new week together, tonight tens of millions of americans across the northeast are in the path of a powerful nor easter that is expected to bring heavy snow, strong winds, and dangerous travel conditions. also some widespread power outages. we will have the forecast and just a momt. onbathotro aomig of t nhe unites warming about a bomb on board, we will tell you about that s right in the emergency landing, but first new questions abou