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 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 confid
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
you can t trust him on this issue. like on every other issue, you say one thing, you do another. you just don t know which keir starmer you re going to get. you can t trust him on this issue. an inquest finds that failures by multiple agencies contributed to the death of a woman who was murdered as she walked home from a night out in east london two years ago. a military coup is under way in bolivia, where hundreds of soldiers and armoured vehicles have encircled government buildings in la paz. welcome to bbc news. i m kasia madera. tonight, rishi sunak and sir keir starmer have clashed over tax, immigration and welfare in their final head to head debate before polling day next thursday. it was a heated confrontation, during which they faced questions from a live audience, who challenged them to explain and justify their stance on integrity in politics, the cost of living and brexit. our political editor chris mason has more. when this campaign started, it felt like spring. s
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 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 makes its way across o the banks, which most likely i won t, this is different fro
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