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I'm Sasha Fifer, that's Laila Faddle and this is up first from NPR News.

The Biden administration is shoring up customers of a collapsed bank at no cost to taxpayers.

How does the rise and fall of Silicon Valley Bank tell the story of the tech sector today?

And Iowa is still the first in the nation to nominate a Republican presidential candidate.

Florida Governor Ron DeSantis hasn't even announced a bid yet, but he's seen as a favorite.

What's former President Donald Trump hoping to accomplish there?

Stay with us, we'll give you the news you need to start your day.

The Biden administration has stepped in to save Silicon Valley Bank's customers.

It's an extraordinary effort to contain the fallout of the collapsed financial institution

from spreading to other parts of the US banking sector.

Treasury officials say all the bank's customers will be able to get all their funds at no cost to taxpayers.

And HSBC said it is purchasing the UK subsidiary of the bank for just one pound.

Wow.

NPR Tech reporter Bobby Allen joins us now to discuss all that's happening.

Hi, Bobby.

Hey, Laila.

So what exactly is the federal government doing to avert a crisis here?

So federal regulators are making sure that customers who have collectively billions of dollars in the

...