(Reuters) - Shockwaves from the collapse of Silicon Valley Bank pounded global bank stocks on Tuesday as assurances from President Joe Biden and other policymakers failed to calm market worries about contagion and prompted a rethink on the interest rate outlook.

Biden said his administration's actions meant Americans could have confidence in their banking system, and also promised stiffer regulation.

COLLAPSE

*Startup-focused lender SVB Financial Group on March 10 became the largest bank to fail since the 2008 financial crisis, in a collapse that roiled global markets.

*Banking regulators said on Sunday that SVB depositors would have access to their funds on Monday, putting to rest fears that startups would struggle to pay their employees this week.

*President Biden on Monday addressed the banking crisis, hinting at new regulation of banks, however he faces a divided Congress unlikely to approve tougher new rules.

*State regulators closed New York-based (NASDAQ:) on Sunday, the third-largest failure in U.S. banking history.

*In Britain, HSBC bought the UK arm of Silicon Valley Bank for a symbolic one pound on Monday, rescuing a key lender for technology startups in England.

*Some U.S. regional banks face increasing pressure, with industry executives and advisers saying they could be forced to seek saviors if a rout in their stocks doesn't let up.

*Experts say regulators are now likely to let their emergency measures take effect before intervening with any further steps to shore up confidence in the sector.

GLOBAL FALLOUT

*The rout in global banking stocks continued in Asia on Tuesday, following a brutal selloff on Wall Street on Monday in which shares of JPMorgan Chase & Co (NYSE:), (NYSE:) and (NYSE:) all lost ground.

*Japan's financial stocks led losses in Asian trade, while in Hong Kong shares of HSBC fell to their lowest since Jan. 12, tracking declines in the London-listed counter.

*The dollar has weakened and bonds have been volatile as markets bet the Fed will slow, if not halt, its raising of interest rates to curb inflation after SVB's collapse. Nomura even expects the Fed will cut rates next week.

* Canada's banking regulator said it was increasing its monitoring of domestic banks' financial health following SVB's collapse, The Globe and Mail reported on Monday.

QUOTE

"Americans can have confidence that the banking system is safe...Your deposits will be there when you need them." - U.S. President Joe Biden.