U.S. banking regulators move to avert financial panic

After a weekend of speculation and anxiety following the collapse of Silicon Valley Bank, federal banking regulators on Sunday night determined that FDIC insurance funds will be used to protect Silicon Valley Bank depositors from losing their money. Plus, China gets a major diplomatic win. And, atmospheric rivers bring more rain, snow and flooding to California. Guests: Axios' Neil Irwin, Felix Salmon and Bethany Allen-Ebrahimian. Credits: Axios Today is produced by Niala Boodhoo, Alexandra Botti, Naomi Shavin, Fonda Mwangi and Ben O'Brien. Music is composed by Evan Viola. You can reach us at [email protected]. You can text questions, comments and story ideas to Niala as a text or voice memo to 202-918-4893. Go Deeper: U.S. protects Silicon Valley Bank depositors Iran and Saudi Arabia agree to resume relations after China mediation What is an atmospheric river? Weather event behind California floods, record snow Learn more about your ad choices. Visit megaphone.fm/adchoices