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 bank if you talk to any members o congress, like our team on capitol hill, yesterday an today, the biggest thing the want is a sale of the bank and on the congressional side, the california delegation of republicans and democrat wrapped a briefing call this afternoon. they were briefed ahead of thi public statement they want both the engineering of a sale of the bank, and t raise the fdic limit right now, that
control is everything to me. learn how abbvie could help you save. tomorrow morning marks th start of the first business da since the collapse of silico valley bank, the second larges failure of a financial institution in u.s. history. treasury secretary, jane yellin, saying this morning th federal government will no bail out the bank, but wil
by the numbers president biden unveils hi budget proposal and challenges republicans to do the same onb director philando youn joins me with the latest o what happens next. bank rupture california congresswoman, kati porter, joins me live to discuss the fall of silico valley bank and why we all should care. he speaks former vice presiden mike pence makes his strongest comments yet on donald trump and the january 6t insurrection and a little lol from snl. oh my god, it is george santos no, no, i am definitely thomas q cruz.
similar sucked that s th stomach risk assessment fo signature bank new york, which was closed today by its stat charter authority. all the depositors of th institution will be made whole as of the resolution of silico valley bank, losses will b borne by the taxpayer. shareholders and unsecured deb holders will not be protected. senior management has also bee removed. any losses to the deposi insurance fund to suppor uninsured depositors will be covered by a special assessmen on banks as required by law. finally, the federal serve board on sunday announced it will make available additional funding to eligible depository institutions - to meet the needs of all their depositors u.s. banking system remain resilient and a soli foundation due to reforms that were mad after the financial crisis and ensured better safeguards fo the banking. industry those reforms combine with today s actions demonstrate our commitment t taking the necessary steps t ensure that the depositors saving for maine
members only briefing on the silicon valley bank situatio at 7 pm tonight. that briefing should be goin on right now joining me now, msnbc stephanie ruhle. stephanie, if you are in tha briefing, what would be your top questions? what would be my to question how far will you go? so, what we re seeing happen here is shareholders - sigh, the positives for silico valley bank will be made whole meaning tomorrow, they ll have access to their money. not just the $250,000. remember, when you put you money in a bank, up to $250,00 is insured 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