On today’s show, we’ll feature special coverage of how the markets, Washington, the financial industry and consumers are all responding.

President Biden, in remarks delivered Monday morning, said that the U.S. banking system is “safe” and that depositors at the failed Silicon Valley and Signature banks would have full access to their deposits. The president’s messaging comes amid a wider campaign by federal officials to tame potential panic over this weekend’s banking debacle, according to Marketplace’s Sabri Ben-Achour. And, we got in touch with economist Julia Coronado to discuss how higher interest rates — which have come after a sustained period of near-zero rates — could have contributed to the crisis. 

Since the collapse — and subsequent government takeover — of Silicon Valley Bank on Friday, the fallout on the wider financial system has led to a new federal lending program and the shutdown of Signature Bank. We talk with Karen Petrou, managing partner at Federal Financial Analytics, about what steps regulators have taken in the wake of the debacle — and what they may have missed in the leadup to the chaos. And, a word from the UK’s top financial official on HSBC’s acquisition of SVB’s operations in that country.

From the BBC World Service: After late night discussions SVB’s UK operation has been snapped up by HSBC, for one pound. Francis Coppola, an independent banking analyst explains what impact the failure of SVB has had in the UK. Plus, with Oscars handed out we look at the growth of the movie industry in Nigeria, which now produces more films every year than Hollywood.

Its collapse could give us a look at the inner workings of start-up finance.

Today, we’ll take a closer look at the first FDIC-backed bank failure since 2020. Plus, luxury office buildings face a hard time.