a services oh, be our guest at frankfurt airport city managed by fraud. ah ah, ah ah, this is dw news live from berlin, president joe biden attempts to reassure the american people and markets after the collapse of 2 west banks. global stock markets were largely down and monday trading the biden confidence in the financial system. americans can rest assured that our

banking system is saying, your deposit and us a real sy fy will be starting michelle year when the big at the oscars taking 7 awards and making history in more ways than one. the german anti war epic. all quiet on the western front was also a winner. ah, antonio logical welcome to the program. the u. s. president has promised to do whatever is needed to strengthen financial institutions after the collapse of both signature bank and silicon valley bank. joe biden has told americans that their banking system is safe even us years of another us bank in crisis. rise the to bank, failures of the 2nd and 3rd worst in us history. and they've taken their toll on

global markets. the news, st. bank stocks tumbling in the us, asia and europe with investors fearing the biggest us bank failures in 15 years might trigger a ripple effect around the world. e or 30 say they are monitoring the situation, but do not expect the us failures to cause long term problems in europe. we take note of the swift under size of reaction by the us authorities within the ear. there is a very limited presence of silicon valley bank. of course, we are in touch with the relevant national competence authorities. that message was echoed by e u. finance ministers, including germany's christian lindner for the state of south africa. not i afraid from germany, brother. in the us, the failures have brought back painful memories of the devastating meltdown of 2008 in a bid to lessen uncertainty and avert further, bank runs. u. s. president joe biden hurried to reassure the public. our customers

who had deposited these bank can rest assured, i am rest assured they'll be protected and know, have access to their money as of today. biden stress that unlike in the past, irresponsible behavior by banking executors would not be tolerated. the management of these banks will be fired if the bank is taken over by f d. i see the people running the bank should not work there anymore. that are the president's tough words enough to convince depositors their money is safe. california's 1st republic bank is under particular pressure and has seen increased withdrawals, but most customers seem to be keeping their nerve. i'm really not that worried about it, but i'm just being a little cautious. i don't think people need to panic at this point. i'm transferring some of my money out of this branch to another branch i have, but at the end of the day, it's about panicking. everybody panics, then it's like a domino effect. so i don't want to panic necessarily,

but i just want to take some precautions. biden says he wants to make similar failures less likely in the future by asking congress to strengthen banking rules are rules that were introduced after us bank sparked a global financial crisis in 2008 by aggressive mortgage lending. they were partially repealed in 2018 under then president donald trump. in the coming days that decision is likely to be in the spotlight penny. i spoke with william church and an associate professor of mccoy college of business administration, a texas state university. and i asked him, what went wrong in this bank? for silicon valley banks were really 2 things that went wrong for the one is they had a very nice clientele in that they service the high tech and started sector during the pandemic. the sector was a good customer base and that they had

a lot of cash coming in, flooding the bank with the positive. but this led to a problem for the bank in the sense that they couldn't lend out all the the public . so instead they invest in what's normally considered safe us treasury security 2 years ago, one year ago, that may or may not knowing that interest rates are going to increase as quickly as they did. and so with the increase in interest rates, the investments they bought were now worth less than what they paid for them. same time you got the textbook, they're having cash flow problems. and so there withdrawing their cash. and at the end of the day on thursday, silicon valley bank simply did not have enough cash to pay their depositors. and they tried to raise money by selling $21000000000.00 worth of the securities. but since they were at a loss, they've lost $1800000000.00 on the sale. they were hoping to sell stock to show up

. but the stock price plummeted. and then we ended up at friday where they had to be shut down. right? masses collapse, as we've seen, they kind of response from around the world. could we see this spilling over to other banks? believe we're going to see this going any further that really has, although we did have another bank failure over the weekend with the signature bank at new york, it really is a different reason, a different story there. you had lots of customers that were in the crypto market and as we know the crypto market has not been doing particularly well. so that's why the signature is fail. but this is very different than during the financial crisis where you had, for example, with lehman brothers collapsing. lehman had lots of interactions with lots of other financial institutions. and in this case, both of these banks are relatively isolated in terms of the clientele. right?

so i don't think we're going to take effect, particularly now that the f b, i fi has said that all deposits will be covered even what would traditionally be considered uninsured deposit. right. so that should put folks and we've heard president biden responding to the situation. is he taking the right steps? i think so, and i think the regulators, families what's called the bank trust funding program that will allow other banks to borrow against the full value of their security. so rather than selling them if they need the cash at a loss, they can borrow against their full value and the federal reserve will fund that for . and so they'll be a source of liquidity for banks that might find themselves in a similar position to silicon valley bank actually. but again, most banks are going to be in that position. they were very unique in that as well

over 95 percent of their deposits were uninsured. so they had relatively speaking a small number of customers with lots and lots of deposits. okay. professor williams and then that's all we have time for. but many, thanks for your insights. thanks very much for now to the latest from the ground in ukraine, cuban moscow are both suffering heavy losses as fighting intensifies in the eastern city of baltimore, the commander of the ukrainian forces. the situation remains difficult, but that is sold as a repelling russian attacks. over the weekend, ukraine's president and ascii said more than 1100 russian soldiers have been killed in the area. but the head of the russian mercenary wagner group insists his troops are still advancing. even though the situation was, as he put it very tough, and we've got an update from our correspondent, give me connelly about the situation in back. what i think there is

a counter offensive in the offering, at least that's what i was talking about here in here. i think ukraine is desperate to show is western back is that it can push the russians back further. those last big victories, were it last thoughts i mean for song and kind of give and basically there's a sense here that you know, the west is going to force you going to negotiating table on some kind of russian terms. if they don't prove that they can win, but i don't think that kind of answer is going to be anywhere near back. more right now. the ukranian forces are really tightly surrounded by russians. that is just a very small bottleneck connecting the city with ukrainian health territory. so the question i think now is whether the ukrainians 1st have to leave by moot as it seems most to nato and us talk bras would want them to do. or if they can keep going about try and draw russian attention russian resources to their positions or while launching a conference of somewhere else and kind of do both the same tommy,

that's the question right now. and that does seem to be a difference of opinion. there between here and certainly the u. s. or let's take a look at some other news making headlines around the world. reports save international criminal court is planning to launch 2 war crimes cases against russian officials in the ukraine war. he comes after icing. chief prosecutor korean can visited, key of last month. the charges are expected to focus on the forcible deportation of children from ukraine and the targeting of civilian infrastructure. in allowing nearly a 100 people have been killed by psych loan, freddy heavy rains and strong winds have triggered landslide and floods the cycle on earlier slow to cross mozambique freddy's one of the strongest and longest lasting storms recorded in the southern hemisphere. an unconventional science fiction firm has taken home the top honors of this year's oscars. the comedy drama, everything everywhere. all at once netted

a total of 7 academy awards, including the coveted gong for best picture. the german form all quiet on the western front, picked up for awards. ah, one film dominated the show on hollywood. biggest night? the wacky and wonderful sy fi flick, everything every we're all at once. swept stephen oscars to rapturous applause. ah, with michel yo who is malaysia making history is the 1st asian woman to win beast actress. for all the little boys and girls who look like me watching to night. this is the beacon of hope and possibilities. this is proof that dreams dream big hand dreams do come true. and ladies don't let anybody

tell you. you are ever past. your pride is co star key white one made a remarkable come back to claim. be supporting actor. following a 20 year acting hiatus. my mom is 84 years old and she's at home watching mom. i just wired and asked her includes dad, jamie lee curtis, when best supporting actress. it was brendan fraser who's awarded beast exit for his role in the whale itching out oscar favorite. austin butler. this is the motive elsewhere the world war one, in fact, all quiet on the western front took for awards. the most prizes

a german film has ever won at the oscars. got this means so much to us. a year on from the infamous oscars slap in which will smith hit present. chris rock on stage post jimmy kimmel poked fun at the incident. but this year, the show was remarkably drama free. with the attention back on the glimmer and golden statues, t v presenter gary lenika said to return to his hosting duties on the bbc football show match of the day, the former footballer had been suspended following a tweet, criticizing the u. k. government immigration policy and comparing the british arm secretary's language to that of mattie era, germany, the decision to remove him had sparked widespread outraged, as well as walk out from stuff after a weekend of crisis at the b. b. c, which saw football pundits,

commentators and even players refusing to take part in the broadcasters coverage. gary lenika is back. andy seemed like he was in no mood to continue talking about the situation. i've already said what i'm going to say on twitter. if i say, just encourage you to do that with an in his tweet, the long time match of the day host expressed his delight in finding it into the impasse and thanked those his good behind him. but he also reiterated his support and empathy for refugees. the decision to suspend clinic are led to accusations that the politically neutral b, b. c. had bowed to pressure from the conservative government, but its director general tim, davy said on monday the suspension of the former england captain had been appropriate. we did take action, which we thought was proportionate. and as the bbc, we believe we did the right thing. i think i did the right thing. having said that,

i think you have to look at the balance here, an act, fairly mythological. the broadcaster said that as a condition of his reinstatement, linux had agreed to stick to current editorial guidelines until a new policy for social media could be formed of x doc film. take a look at the power off. the 1st impression is one, use a d, w dot com, as well as our social media handles at the w nice. i am told me a lot ago. i cannot imagine how many portion of lunch are thrown out in the world. climate change very conference doors. this is my plan the way from just one week how much was can really get we still have time to out.