SINGAPORELONDON, March 13 Reuters Bank shares in Europe and Asia slid on Monday, as the collapse of startupfocused Silicon Valley Bank continued to shake markets, although U.S. banking stocks rallied in premarket trading after authorities moved to stem the contagion.

The U.S. government stepped in on Sunday with a series of emergency measures to shore up confidence in the banking system following the failure of Silicon Valley Bank SVB, which marked the biggest U.S. bank failure since the 2008 financial crisis.

That helped U.S. banks39; shares to gain in premarket trading. Bank of America was up 3 and JPMorgan up 1.9, but European and Asian banks were still under pressure.

Europe39;s STOXX bank index was down 2, having shed 3.78 on Friday. Earlier in the day, Japan39;s Topix bank index lost 4, while Singapore39;s largest banks also lost ground, down around 1.

HSBC39;s London listed shares were down 1.45 after it said it would acquire the UK subsidiary of stricken Silicon Valley Bank for 1 pound 1.21.

After a dramatic weekend, U.S. regulators said the bank39;s customers will have access to all their deposits starting on Monday and set up a new facility to give banks access to emergency funds.

The Federal Reserve also made it easier for banks to borrow from it in emergencies.

U.S. banks lost over 100 billion in stock market value late last week following the collapse, while European banks lost around another 50 billion in value, according to a Reuters calculation….