If it's Monday, a volatile day on Wall Street comes to a close after dual bank failures, royal parts of the U.S. banking system and stir up fears of a full-blown financial crisis.

Plus, President Biden tries to reassure the public that his administration will do, quote, whatever is needed to protect the economy as policymakers and Congress weigh their next move.

And former President Trump campaigns in Iowa for the first time since announcing his bid for president as a legal case in Manhattan moves towards a potential criminal indictment.

No. The legal case in Manhattan moves towards a potential criminal indictment. And welcome to meet the press now.

I'm Ryan Noble's in today for Kristen Welker on one of the more tumultuous days for our banking system in more than a decade.

As the federal government seeks to limit the fallout from back-to-back collapses of two major banks, the second and third-largest bank failures in U.S. history.

After a volatile day of trading stocks on Wall Street did end the day

largely where they started, the close comes less than 24 hours after the Federal Reserve,

the Treasury and the FDIC announced that the government was taking emergency action to shore up

the U.S. banking system, setting up an emergency lending facility, while also guaranteeing that all deposits

at Silicon Valley Bank, which regulators shut down on Friday, and all deposits at signature

bank, which failed over the weekend. Now, those actions taken together are some of the most sweeping

government backstops for the U.S. banking system since the 2008 financial crisis.

This morning, before the markets open, President Biden addressed the fears of a broader contagion,

assuring all Americans that the nation's banking system was sound.

The president says he's also prepared to take further actions if necessary.

Today, thanks to the quick action of my administration over the past few days,

Americans can have confidence that the banking system is safe.

Your deposits will be there when you need them.

Small businesses across the country, the deposit accounts that these banks can breathe easier

knowing they'll be able to

pay their workers and pay their bills. And their hardworking employees can breathe easier as well.

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