Stock futures rally in Asia as U.S. acts on banks

By Wayne Cole SYDNEY (Reuters) – U.S. stock futures rallied in Asian trade on Monday as U.S. authorities announced plans to limit the fallout from the collapse of Silicon Valley Bank (SVB), though investors were also still favouring the safety of sovereign debt. In a joint statement, the U.S. Treasury and Federal Reserve announced a range of measures to stabilise the banking system and said depositors at SVB would have access to their deposits on Monday. The Fed was also considering easing the terms for banks to access its discount window to prevent another collapse, Bloomberg News reported on…

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