The stories we're watching for you. At this hour.
A wave of relief swept over Silicon Valley over the weekend
that following a tense weeding a weekend of board meetings,
emergency fund plans and pleas for help that after regulators
stepped in to assist in the Silicon Valley Bank fallout.
The Federal Reserve, the Treasury Department and the F D I C all announcing Sunday,
they will make additional funding available to
ensure all Silicon Valley Bank deposits,
both insured and uninsured will still be paid in full
SVB. Customers should be able to access their money later today.
The fed also announcing they'll make additional
funding available to eligible depository institutions all
to help assure banks have the ability to meet the needs of their depositors.
Silicon Valley Bank, the 16th largest bank in the country collapsed on Friday
after failing to raise enough money to end its capital crisis.
It also marks the largest closure of a U S bank since 2008
California regulators shut down the bank and put it in control of the F D I C.
This is the first F D I C insured bank to fail this year.
We also know this morning,
the at HSBC is planning to buy Silicon Valley Bank U K as well.
Let's take a look at the crypto space stable coins
looking not so stable that after the collapse of SVB,
the stable coin US DC pegged 1 to $1 with the U S dollar.
However, after SVB collapsed Friday,
U S D C started to fall below the dollar mark.
A concept called de pegging in the crypto world
Saturday, that coin hit an all time low of 88 cents. The coin has rebounded some.
It sits just below that dollar mark at 98 cents.
Migraine suffers big news for you.
You'll soon have something new to try to relieve your headache. And Fast
Fighter says the FDA has approved their new nasal spray for adults with migraines.
The drug manufacturer says that spray is considered a rapid rescue treatment.
Fighter says that nasal spray could relieve migraine pain within 15 minutes.
The spray also an alternative for people who have heart disease and
other conditions that are preventing them from safely using migraine treatments.
Big news over the box office this weekend. Scream six deep six. The competition,
the slasher flick topped the charts with 44 a half million dollars.
The best debut in screen history.
Screen six followed survivors of ghostface murders that leave Woodsboro behind
for a fresh start right here in New York City.
Now, last year,
Screen five came close to touching that number with about 30
million through three days of a four day holiday weekend.
But this new figure, by far the best of any of those movies
that they've ever done. Shannon.