i'm matt pieper, cbs news, new york. it's it's monday, march 13th, 2023. this is the "cbs morning news." financial failure. the collapse of silicon valley bank rattles main street to wall street. how the u.s. government is stepping in to protect customers and their money. >> i lost everything in '95. this will be my second time in the shelter since then. >> flooding, mudslides, and rescues. an atmospheric river hammers parts of california as another major storm takes aim at the state tonight. historic night. "everything everywhere" wins secretary of oscars including best picture. why one winner almost gave up his dream.

good morning and good to be with you. i'm anne-marie green. this morning president biden is set to announce what the government is doing to prevent a familiar crisis after the biggest failure in history. regulators said they were taking emergency measures to protect customers of silicon valley bank. they said that they're also taking steps to do the same for depositors of new york-based signature bank which also collapsed. officials insist that this is not a taxpayer-funded bailout. jarred hill is in new york with more. good morning. >> reporter: good morning. one of the big questions with this has been whether the collapse of svb is a sign of broader instability among financial institutionses. regulators say no, it's not, and they're hoping by taking this quick action to back depositors money they can stave off widespread panic. federal regulators say they're taking emergency measures to make sure depositors of the new

-- the now failed silicon valley bank or svb will have taxi to all their funds starting today. they say they're taking similar measures for investors of signature bank of new york which collapsed yesterday. >> i've been working all weekend with our banking regulators to design appropriate policies to address this situation. >> reporter: svb's failure on friday was a major concern to the tech and wine businesses it financed. its collapse followed closely by signature bank's raised concerns about how this could reverberate among other financial institutions. treasury secretary janet yellen reassured customers on "face the nation." >> the american banking system is really safe and well capitalized. it's resilient. >> reporter: according to a joint statement released by the federal reserve, the department of the treasury and federal deposit insurance corporation, they're acting in a way that, quote, fully protects all depositors. regulators insist the plan will

not include using taxpayer dollars as the two failed banks have not been rescued. lawmakers on both sides are hopeful they can be acquired. >> that would be the ideal situation, and our delegation that talked to the fdic made that clear. >> it is attracting for someone to want to purchase it. it's a timeline of where to move forward. the administration has tools to deal with this. >> reporter: there's a new push by some house lawmakers to extend temporary lines of credit to depositors, to assist with essential costs like payroll. so in a separate announcement late yesterday, the fed announced that there's an emergency lending program that's going to start to try and prevent a wave of people pulling money out of banks. essentially a way to reassure customers that they could access their funds whenever they need it. back to you. >> jarred hill in new york. interesting story. thank you. a powerful nor'easter is expected to bring heavy snow, rain, and gusty winds to parts of the northeast beginning tonight. that same system is bringing

blizzard conditions to parts of the upper midwest and the great lakes area. in california, people are bracing for more storms after another atmospheric river caused extensive flooding and mudslides. it washed out roads and forced the evacuation of more than 8,000 people. in central california, a river levee failed prompting dozens of rescues. >> we know right now it's going to get worse today and tomorrow. and tuesday we're expecting a lot of rain. it's going to get worse. >> another storm today is expected to bring even more rain and snow, extending from oregon to central california and northern nevada. forecasters say there could be considerable flooding from creeks and streams already swollen from melting snow. the biden administration is reportedly expected to approve a controversial massive oil drilling project in alaska today citing two people familiar with the decision, "the new york times" says president biden will

gie the go ahead for the $8 billion willow oil project in northwest alaska. environmentalists have rallied against it. in a possible attempt to offset criticism, yesterday the administration announced that it would prevent or limit oil and gas drilling in 16 million acres of alaska and the arctic ocean. a former attorney for donald trump is scheduled to testify today before a new york city grand jury. michael cohen is supposed to appear as part of an investigation into alleged hush-money payments made on trump's behalf during the 2016 campaign. cohen served prison time for campaign finance violations after arranging payouts to two women who allegedly had affairs with trump. trump has denied the affairs. prosecutors have invited trump to appear before the grand jury and could soon file criminal charges against him. in hollywood, "everything everywhere all at once" was everywhere at the 95th academy awards.

the movie entered the night with 11 nominations and left with seven statues. danya bacchus is in los angeles with more on the ceremony. good morning. >> reporter: good morning to you. yes, "everything everywhere all at once" was the night's big winner. this year's oscars ceremony was more of a traditional show with no surprises. >> "everything everywhere all at once" -- [ cheers ] >> reporter: "everything everywhere all at once" grabbed seven oscars at the 95th academy awards including best picture. >> i have great faith in our stories. these stories have changed my life, and they've done that for generations. >> reporter: it also won for best director, editing, screenplay, and three of the four top acting award. michelle yeoh made history when she was named best actress in a leading role. she's the first asian to win the prize and only the second woman of color. >> there are so many who have felt unseen, unheard. it's not just the asian community. this is for the asian community, but for anybody who's been identified as a minority.

we deserve to be heard. we deserve to be seen. we deserve to have equal opportunities so we can have a seat at the table. >> reporter: the film's co-stars, ke huy quan and jamie lee curtis, won for supporting roles. former child actor kwan gave up acting 20 years ago because he didn't see opportunities for asian actors. >> my journey started on a boat. i spent a year in a refugee camp. somehow i ended up here on hollywood's biggest stage. >> reporter: it was also curtis' first oscar. she acknowledged her late actor parents. >> i just won an oscar. >> reporter: the best actor award went to brendan frasier for "the whale." >> this has been awarding and affirming. it's given me a lesson in humility and gratitude. >> reporter: there were no incidents during the more than 3.5-hour show, unlike last year when actor will smith slapped comedian chris rock on the oscar stage.

host jimmy kimmel addressed the slap. >> if anyone in this theater commits an act of violence at any point during the show, you will be awarded the oscar for best actor. [ laughter ] ♪ >> reporter: and lenny kravitz performed a moving tribute to those the industry lost in the past year. after last year's ceremony, the academy created a crisis management team to be able to handle any surprise incidents. neither chris rock nor will smith, who was banned from the academy for ten years, attended the show. anne-marie? >> wow. danya bacchus in los angeles. thank you. well, the costume designer, ruth e. carter won two oscars. she won for "black panther: wakanda forever." in 2019 she was the first black

woman to win costume design for "black panther." coming up, the boss is out. why bruce springsteen and the e street band have postponed a third straight concert. and place your march madness bets. how much americans plan to spend on bracket contests this year. this is the "cbs morning news." "cbs morning news." i have moderate to severe ulcerative colitis. so i'm taking zeposia, a once-daily pill. because i won't let uc stop me...from being me. zeposia can help people with uc achieve and maintain remission. and has been shown to reduce symptoms in as early as 2 weeks. zeposia is the first and only s1p receptor modulator approved for uc. don't take zeposia if you had a heart attack, chest pain, stroke or mini-stroke, heart failure in the last 6 months, irregular or abnormal heartbeat, if you have untreated sleep apnea, or take maois. zeposia may cause serious side effects including infections that can be life threatening and cause death, slow heart rate, liver or breathing problems, increased blood pressure, macular edema, swelling and narrowing of the brain's blood vessels, and increased risk of pml-- a rare brain infection

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were killed when two suspected migrants smuggling boats overturned. the u.s. coast guard and lifeguards searched the waters off san diego after a woman on board one of the boats called 911 late saturday to report what happened. now officials say the woman told them there were 23 people on the boat. fog and high tides hampered the search for additional victims. authorities say some survivors including the woman who called may have escaped on land after the boats capsized. >> this is one of the worst maritime smuggling tragedies that i can think of in california, certainly here in the city of san diego. >> there's no word on the nationalities of the victims. "florida today" says four crew members aboard a spacex dragon capsule returned to earth after nearly six months aboard the international space station. the capsule carrying two nasa astronauts, a japanese astronaut, and a russian cosmonaut splashed down off the coast of tampa saturday.

they launched last october, and the mission was the sixth spacex crude flight under its contract with nasa. and "rolling stone" says bruce springsteen and the e street ban postponed a third straight show due to illness. the group postponed a concert scheduled for tomorrow in albany, new york. it follows the cancelation of concerts last thursday in columbus, ohio, and in connecticut on saturday. springsteen put out a statement on social media saying it's due to illness without saying who was sick or what kind of illness. the band said it's working on rescheduling. still to come, killing it at the box office. a slasher movie tops ticket sales this weekend setting a franchise record. in a world, where dry eye symptoms... keep... coming... back... inflammation in the eye might be to blame. feel the ache and burn! one man learns the truth... over-the-counter eye drops typically work by lubricating your eyes. they may provide

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americans are planning to spend billions of dollars on march madness. matt pieper has that story and more in today's cbs "money watch" report. >> reporter: all eyes will likely be on wall street all day today after the u.s. government took those steps to try and prevent a potential banking crisis amid fears that banking failures could spread following the collapse of silicon valley bank friday. the dow lost 345. the nasdaq was down 199. s&p losing 56. saudi oil giant aramco posts a $161 billion profit for last year, a nearly 50% jump from 2021. it's a huge figure for the corporation and its main shareholder, the saudi government. there is criticism as it came off the back of energy prices rising after russia launched its war on ukraine last february. ford is recalling some of its 2023 f-150 lightning trucks

over a battery fire concern. the automaker has recalled 18 trucks after concluding its weeks' long investigation into a battery defect that caused at least one fire. ford is not aware of any reports of accidents or injuries related to this recall. and selection sunday has come and gone. the 2023 ncaa tournament bracket has been unveiled. for most of us who are not playing, might you be wagering? a new survey from the american gaming association says 68 million americans plan to wager a combined $15.5 billion. that's 18 million more adults than placed bets on last month's super bowl. that's your cbs "money watch" report for this monday morning. i'm matt pieper, cbs news, new york. and while hollywood was busy with the oscars, a horror favorite ruled the weekend box office. ♪ >> this isn't like any other ghost face. >> what is this place? >> a shrine.

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here's a look at the forecast in some cities around the country. ♪ march madness is here. brackets were announced for the men's and women's ncaa tournaments. on the men's side, alabama was named the top overall seed, purdue, houston, and kansas grabbed the other top seeds. the tournament gets into full swing starting thursday. on the women's side, the south carolina gamecocks were named the top seed. the defending national champions are trying to become the tenth women's basketball team to go undefeated for an entire season. the other number-one seeds are indiana, virginia tech, and stanford. the tournament begins friday. she did it. american mikaela shiffrin is now the winningest alpine skier of all time. she broke the record for most world cup wins ever by bringing

home her 87th victory. she broke the 34-year-old record this weekend. >> pretty hard to comprehend that thought. but -- my brother and sister-in-law got here -- didn't know they were coming. so that's like -- that makes it so special. >> shiffrin says she's not done. the world-class skier turns 28 today. many fans think she can keep going to win 100 world cup titles. and there was some leprechaun magic at a st. patrick's day celebration in the windy city. the chicago river was dyed green as part of a tradition that started 61 years ago. thousands of people gathered to watch. the event is sponsored by the plumbers union, and they say the dye is a vegetable-based powder. coming up on "cbs mornings" now, actor christina ricci joins us in the times square studio to

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with the fact that this closed down and we can't go

there. we have to keep a budget. good morning. several neighborhoods in monterey county are under water. we are checking on evacuees and how we can help as the community braces for the next storm. it was a wild weekend. starting with first alert doppler, things are calm. tomorrow morning, it's going to look a lot different. feds step in after second biggest bank in u.s. history collapses. why regulators hope this will prevent a more widespread panic. march madness is here. ncaa bracket is revealed and it is your turn to fill out your brackets. we are breaking it all down. >> i cannot wait. we are seeing a few brake lights, hot spots like the altamont pass. we'll have a look at your travel times, coming right up. some of you have seen light