lead up against with tax multiple times he to india 90 minutes on d w. ah, this is d dot news live from berlin, president joe biden attempts to reassure the american people and markets after the collapse of to us backs. global stock market were largely down on monday, trading, but vital confidence in the financial system. americans can rest assured that our

bank uses to receive your deposit and in your crane there is no let up in the intense lighting for the eastern city of back. though both sides of describe the situation as very tough. neither russia nor ukraine looks willing to back down and recovery efforts in malawi a cycle. freddy's lashes, the southern african country with torrential rain and high winds. ah and told me or let it go. 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 back. joe biden has told americans that their banking system is safe,

even as fears of another us back in crisis rise. the 2 bank failures are the 2nd and 3rd worst in u. s. history. and they've taken their toll on global markets. the news sent bank stocks tumbling in the us asia and europe with investors fearing the biggest us bank failures in 15 years might trigger a ripple effects around the world. e u r t 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 side of reaction by the us authorities. within the you, there is a very limited presence of silicon valley bank, and 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 to suffer not by a fatal 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 divert further bank runs us, president joe biden hurried to reassure the public. our customers who had deposited these bank can rest assured our m 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 has taken over by f. d. i see the people running the bank should not work there anymore. what are the president's tough words enough to convince depositors them? 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 pam, external. 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. earlier i spoke with william church and an associate professor at the mccoy college of business administration and texas state university. and i asked him, what went wrong with 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 powder. but this led to a problem for the bank in the sense that they couldn't lend out all of the public. so instead they invested 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've got the tech sector having cash flow problems. and so there withdrawing their cash. and at the end of the day on thursday, phil kimberly 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? massive 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 signature by 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 sci fi has said that all deposits will be covered even what would traditionally be considered uninsured deposits. 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 fund that out for . and so it would be a source of, could it be 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 departments were uninsured is going to be hand, you know, 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 for the shipper. now to the latest from the ground in ukraine cave and moscow are both suffering heavy losses as fighting intensifies in the eastern city of buttonwood. over the weekend, ukraine's president lansky said more than 1100 russian soldiers had 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. up against the

longest and bloodiest battle of moscow's of invasion to battle for bark. moot, deer crane in unit fires back standing are fresh and attempts to take control of this city center. ah, fierce fighting has inflicted heavy losses on both sides. that ukraine says the battle for buck mood is one of the decisive fights for its future. does result on us would you? the situation in the east is very tough, very painful. we need to destroy the enemy's military power and we will beat her if gear and murray incur of div kia and bar mood will glinda and come younger and all other places were a future is being decided and the future of all ukrainians is being fought for grains viejo. russia has been trying to capture the eastern ukrainian city for

months. so far. russian mercenaries have only managed to encircle back moot. moscow is now intensifying its campaign. delivering ammunition to wagner fighters who have been spearheading the attack on bar mood. school the some $4000.00 residents are still in a town, according to an official tele, despite the fear spiting in and around it were grammar, progression, commanders, the capture of the city would mean an opportunity mother to deliver good news. we went to the kremlin and grasped your course my portable and here's an update from our correspondent give nick connelly about the situation backward. i think there is a counter offensive in the offering, at least that's what everyone's talking about here in kia. i think ukraine is desperate to show is western back as that it can push the russians back further.

those last big victories, were it lost or to mean for song and how to give and basically the sense here that in the west is going to force ukraine to negotiating table on some kind of russian terms. if they don't prove that they can win. but i don't think that conference it is going to be anywhere near back more right now. the ukrainian forces all really tightly as surrounded by russians there. there's just a very small bottleneck connecting the city with ukrainian health tree. 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 will try and draw russian attention russian resources to their positions. their back while looking account fronts of somewhere else and kind of do both and same tommy. that's the question right now. and that does seem to be a difference of opinion that between here and certainly the u. s. let's take a look now at some other news stories making headlines around the world. russia has

agreed to extend a deal that allows ukraine to export its agricultural produce, follows, talks with the united nations, what the extension is only for another 60 days, not $120.00. as expected, because the kremlin once changes to how the arrangement works, the deal aims to prevent a global crisis. for biden administration has approved a controversial oil drilling project on alaska as north slope supporters of the willow project by energy giant cannot go phillips. so it will be an economic lifeline for indigenous communities. but environmentalists that urge by don't not to approve such projects on public lands. bad of iran's judiciary says more than 22000 people arrested in recent anti government protests have been pardoned by the country supreme leader thousands to, to the streets in a rare challenge to the regime following the death in custody of

a young woman arrested for allegedly not wearing her veil properly. nearly 100 people are confirmed dead in malawi after cycle on friday slammed into south eastern africa with torrential rain and high winds. this is the 2nd time in a month, but freddy is made. landfall is southern africa having earlier struck madagascar is one of the strongest and longest lasting storms to ever be recorded in the southern hemisphere. some way under these washed off roads and my lovey, people rescue workers like trust on chic uh well i trying to find them in the so far we have recovered 30 bodies but we're not done. we're still looking for more victims. amusing miss ho to at least find someone who

will call cyclop freddy has wrecked houses in the city of blunt here and created rushing streams that residence of struggling to cross many of the injured have been taken to hospitals, but others hostile, missing minute. what young women in her mother was so bad in the night doing that when jarvis yvonne now that it's day time, i can feel the loss that you didn't of it was a gun to 0. but i've never seen something as terrible as thus knew by my neighbors . homes are gone months when their family members are gone. ah, in some cases the father is alive, but the wife and the children are missing on the floor. excellent! excellent. freddy killed several people in mozambique before making its way to my loving. scientists say such tropical storms are getting stronger due to climate change. they want that phoebe of weather like this will only become more frequent

and less polluters drastically produce carbon emissions. up next doc film takes a look at the power all the 1st impression. there's more news on t w dot com and our last social media accounts as well. the handle is at d. w. 's. i've told me or laddies both myself and the team i've been out with an or flying rivers formed by hey waterfalls. perspiring trees or c evaporation during forest fires like.