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coming from. > fore, we will look at where the thunderstorms are happening in the far east bay then quickly turn our attention to tomorrow morning, a significant storm. a first alert day for that. that's coming up. jimmy g is hitting the road trading in the red and gold for a new jersey. where he will end up suiting up. i'm ryan yamamoto in for reed coan. the federal government is stepping in to help two failed banks. they don't call it a bailout. they showed up to retrieve their money from two banks. president biden says this is not the beginning of a banking collapse. nicole d'antonio joins us live from d.c. with the president's message. nicole? >> reporter: and, ryan, bottom line, president biden wanting to reassure americans that their money is safe and the u.s. banking system is safe.

there are still some key questions including who will be held responsible for accountable for the bank failures and what is being done to prevent it from happening again. president biden looked to reassure americans monday following the failure of two banks. >> americans can have confidence that the banking system is safe. your deposits will be there when you need them. >> the federal government announced emergency actions after the collapse of silly von valley bank and closure of signature bank in new york over the weekend. >> when we learned the problems of the banks and the impact that they could have on jobs of small businesses and banking systems overall, i instructed my team to act quickly to protect the interests. >> reporter: sunday night the federal government, federal reserve and federal deposit insurance corporation said they would ensure that they had access to their money today. >> reporter: a swimwear company

banked with svb. >> payroll, all the bills, how we pay our suppliers. it's everything that the company has and it was gone in an instant. >> reporter: rescuing the depositors i not a bailout for the banks. e nagersof nk said not e bill f fdthople rushould not work ther more. third, investors in the banks will not be protected. >> reporter: traders dumped shares of bank stocks when the markets opened with trading for some banks temporarily halted. the president said that they will continue to strengthen regulations put on larger hanks to make sure that they are not put in this position again. ryan. >> nicole, thank you very much reporting live from the white house. many customers are on edge despite the government stepping in. joining me live right now is cal state east bay chair of

economics. a lot of ripple effects coming from this collapse. what is next for the future of banking? >> well, so, the majority of, you know, large banks, there shouldn't be a problem. banks that ha large customasbytht bewas an issue be the -- this decision by this policy actions as other banks that may have a larger fraction of their deposits not insured. with the move essentially, it made almost 100% clear that deposits of any size will be insured moving forward. this should reduce the risk. >> so, we saw first republic bank. they saw their stock fall. should people be worried about their banks and other banks as

a whole? >> no, they shouldn't. the -- again, the federal government, the fed, fdic made clear that the deposits will be insured and also they have made a line of credit available for these banks so that it allows them essentially to solve the duration and liquidity issues right now. people should stay put and not worry. >> and as a broader whole ould pple be worried about the economy in general? a lot of talk about whether we are in inflation, a recession. is this a red flag to something bigger and broader in the future? >> well, that is a separate issue. so, the signals we are getting from the micro economy shows a strong liberal market. it shows that the economy is probably still expanding. now, are there concerns about

inflation? yes. is there a concern that raising the interest rates maybe leading some institutions into troubles? that's one of the concerns. but the federal reserve bank, fdic and the government, by opening these line of credit are essentially telling the markets and signaling to all of us, look, your duration problems, they are taken care of. we will keep fighting inflation and we have all the instruments to make sure that the banking system can work in a functional way and so on that side -- so, the two issues for how the macro economy is going and these crisis are disconnected. >> thank you very much. always good information. thank you for joining us. >> thank you. okay. let's head to first alert weather. here is a live look outside at

oakland as the next atmospheric river atmospheric river is set to role in tonight. darren peck is here tracking the storm. a bit of a break this morning. >> there might be a shower or two out there, ryan. it's a break. if i go to first alert doppler, we got a few thunderstorms to the east through the delta. we would look west, i don't anticipate those should be anything too significant. we will watch them. a drop of rain or two really until much later tonight. so, i will bring this ahead to what the main event is and you can see how different this looks. that is tomorrow morning. now, i stopped it in the 8:00 hour because that's kind of when we are in the heart of this thing. but we will have seen the most widespread steady rain begin several hours before this. we can take it back several lock steps in the st ule om 00 a.m. to 8:00 a.m. it's raining solid and widespread. not until we get to this point, about noon, when we see a close of that first phase of the

storm. the rainiest and windiest part of the storm is coming in that window between 4:00 a.m. and noon. then when we get into the afternoon, even though we get breaks in the rain, the showers will pick up again. this is when the cold front comes through. the second half of the day on tuesday, more scattered showers and maybe a few thunderstorms mixed in. that is a brief overview. we have to talk about rainfall amounts and strong winds, flood advisory, high wind warning. i want you to see all of those in the first alert forecast in a bit. earlier this morning in san rafael, landslides shut down near highway 101. it brought down trees and power lines. pg&e turned off electricity for that part of the neighborhood. it reopened about five hours ago but crews will be on scene to clean up the mess. two people died in the storms in california over the weekend. carter evans reports. >> reporter: entire neighborhoods submerged after heavy rains

i think i got visual. >> we got visual. >> reporter: nearly 200 people were rescued by first responders and the national guard over the weekend. monterey county officials issued multiple evacuation orders on the salinas river stretching nearly 30 miles. in the city of pajaro, a levee breach forced thousands to evacuate their homes and likely lose out on work. >> in the summer, i work in the fields picking berries. and i think this year it will be hard. the water is too high. >> reporter: california grows more than a third of the country's vegetables and three quarters of its fruits and nuts all threatened by constant flooding this winter. >> lettuce, strawberries, there will be an impact to the nation's food supply. >> reporter: rapid snow melt from warm downpours overwhelmed rivers in central valley causing major flooding in springville. >> the water was up to the

bottom of that house. >> reporter: crystal magee and her husband fled when the water poured in the home. >> we left everything. we had to leave everything. there are photo books on the floor, in the mud and, you know, those are things that cannot be replaced. >> the state salmon industry is in jeopardy. years of drought led to low levels of fish. fishing is banned through may and it could shut down longer than that. john ramos explains. >> reporter: the rivers are roaring but the effects of years of drought are now being seen on salmon population. 196,000 adult fish were expected to return to the sacramento river to spawn. but only 60,000 showed up. >> we knew that the number of young salmon in 2022 was a low number. that's the number they used to forecast the abundance of adult salmon in the ocean this year. fishery managers are determined

that there aren't enough salmon in the ocean to comfortably get a return of adult salmon to reproduce in 2023. >> reporter: the second time in e latime was in 2008-2009 after another period of prolonged drought. but while the salmon decline has taken a few years to happen, the impact on the industry is immediate. jared davis operates the salty lady, a charter boat for sport fishermen. his entire summer has been wiped out. >> it's devastating. this is more than just an income issue for me. it's inability to do what i love. so, you know, on a financial level and on a personal level, it's devastating. >> reporter: it's not just the fishermen hurting. at the outdoor pro shop, about 40% of sales are for salmon fishing. vice president tim ely says the impact will be wide ranging.

>> drastic changes. cutbacks. we won't be able to thrive. i have 20 plus employees that i have to pay and pay a , liks deringless and having less product available. this affects people that sell bait, fuel, ice, boat mechanics. this is far stretching. >> reporter: for years the salmon fishing industry has been locked in a political struggle in sacramento over how much water is being allocated to central valley farmers even during the drought. it's estimated that 80% of the state's water goes to agriculture leaving cities and fisheries fighting over what is left. >> the fish and the fishing industry suffers and takes a back seat. >> reporter: the fishermen say the drastically reduced salmon should be a wake-up call. they want more water to support the ecosystem and increase at

state hatcheries to bolster the salmon. it could help them rebound but even under ideal conditions it would take several years to happen. the principal and assistant pl on leave r ed ing stabbed in class. in an announcement on the website, the school said lori fawn will return for the rest of the school year. that's not all. the school is making more changes including offering mental health services after school and during spring break, adding more staff to help with supervision. creating a safety advisory roundtable where students can speak directly with district officials and adding extra staff to clean and repair bathrooms. this came from a listening session that happened last week. well, still ahead, red and gold no more. jimmy g is leaving

jimmy g found a new home according to cbs sports. the former 49ers quarterback signed with the las vegas raiders. he worked with head coach josh mcdaniels with the new england patriots. according to multiple reports, he signed a three-year, $67 million deal. now to march madness.

the field of 68 has been selected for the ncaa tournament. st. mary's will be the lone bay area representative. >> reporter: for the ninth time under the head coach randy bennett, st. mary's is heading to the tournament. >> reporter: they were celebrating. they were a five seed for the second straight year. they will play 12 seed virginia commonwealth on friday, a rematch of a match-up that was won by st. mary's. this year they have doubtedders. >> we saw bcu win a championship. i think they will beat st. mary's. >> bcu in the first round match-

up. >> i heard it for sure. he will remember after the game what he said. so, we will leave it at that. >> reporter: that's the madness minute. i'm vern glenn. let's not forget the stanford women. they are number one seed. first game is on friday. time for first alert meteorologist darren peck. >> we are close enough to the on set of the next atmospheric river that we can use the high resolution models that work well within a 24-hour period to pull out the detail. we will take a look at that on the big picture to come away with the big view of how the storm will play out. the first thing we notice, we get into the late hours tonight, technically tomorrow morning. we notice the leading edge of the showers come through. by the 4:00 hour, everybody should have noticed rain. you may probably get light rain before then. this is the point where it is

the most widespread. watch what happens when we take it from the 4:00 hour and let it go to the main event. now it's unmistakeable. this is in the 7:00 hour. so, while we noticed the rain in the 4:00 hour, three hours later, it's raining that whole time and now the intensity has picked up on a more widespread scale. this is one of the more active parts of the initial phase of the storm in the 7:00 hour tomorrow through the morning commute. not only for the most widespread steady rain but for some of the strongest wind that -- we will get to the wind in one second. 7:00 a.m. and we will let it go, still in the green until about noon. at this point, once we get to noon, we are kind of out of the first phase where it's the widespread steady rain that accumulates. the bulk of the two inches of rain that this storm has for us comes in that window between 4:00 a.m. and noon with the heaviest of it like 6:00, 7:00, 8:00 in the morning. then in the later afternoon and the second phase comes in.

it will be this stuff out here, more organized, not nearly as widespread. not nearly as steady nonstop. this will come in briefer bursts of heavier rain, occasional downpours. that goes from the afternoon through the evening. by wednesday we should be done. one important aspect of the storm. we will bring it back to 5:00 a.m. look at the storm with radar you miss it. pull in how the wind will be working within the system, now you see the bull's-eye. look at the counter clockwise spin. that is the area of low pressure that is driving the storm. what is different about this one from the one that we had last thursday is the center of the storm is coming much closer to the bay. that means the intensity of the rain could be higher. but it more importantly means we will feel the wind more because we are so close to the center of the storm. it pulls the air through the bay with that much force to pull it into the center of the low. so, the winds are stronger. the same timeframe for the most

widespread rain, 8:00 tomorrow, 40 to 50 miles per hour gusts. that's when we will see more downed trees. the high wind warning goes from tonight through wednesday morning, 50 miles per hour gusts, downed trees means power outages. of course there is the flood watch. streams, creeks and rivers, santa cruz mountains need to be on watch for that. so do the mountains in the higher elevations in the north bay. we saw street flooding yesterday. that wasn't even an atmospheric river storm. we had flooding on 880 in oakland. this storm considering how saturated the ground is before it gets here with rainfall totals like that, up to 2 inches is a bigger concern from a flood standpoint than the last one because the ground is more saturated. there is the first alert day for sure. wednesday the storm is gone but we are likely going to be dealing with the implications of the storm on wednesday. power outages and some flooding on streams and creeks and

possibly still on roadways and places as we go into wednesday morning, certainly considering it will have been raining tuesday into wednesday. a lot is coming our way. we will keep you updated. back to you. still ahead at 3:00, we are celebrating people making a difference in their communities including this lifeguard. how he sprang into action to save a dog. look at that dog in distress.

we like to highlight the bridge builders making a difference in the communities. long beach firefighters were called for reports of a dog running loose at the beach. by the time they got there, he swam out into the ocean and a lifeguard rescued him on a paddle board and brback to the shore. michelle yeoh. >> well, she built a bridge where her future actors and actress win. she won for the film "everything everywhere all at once." this is a watch party in hillsborough. she dedicated the win to her mother who a message at the watch party and celebration. >> i feel so grateful and honored to have your support. i am excited to share this night with all of you. so, let's raise a glass to

diversity, representation. >> everything, everywhere all at once dominated the night winning seven oscars including best director and best picture. still ahead, skipping the brown bag. the official seal of approval.

of-its-kind heart procedure for

kids by a northern california doctor. the life saving implant that is the size of a double a battery. that story and more at 5:00 with myself and liz cook. lunchables will be part of school lunch program. kraft heinz says two new varieties will be in school cafeterias this fall. turkey and cheddar crackers and extra cheesy pizza. these are different than those found in grocery stores. the company says they have improved nutrition, meet federal guidelines for the national school lunch program. if you bring some lunchable kids, that is good trading material. they need adult lunchables, too. "cbs evening news" is next. local news continues streaming on cbs news bay area.

♪ ♪ >> tonight the scramble to avoid a financial crisis, president biden tries to assure the country that the banking system is safe, what you can do to protect your money. here are tonight's top headlines. ♪ ♪ >> i did not have much sleep last night. >> norah: worried customers raced to the bank after the largest financial failure since 2008. >> your deposits will be there when you need them. ♪ ♪ 's to be on millions of people in california are bracing for a another severe storm this evening. nor'easter bringing gusty snow and winds to that part tonight. ♪ ♪ hundreds tried to storm the border as the search for missing migrants off the