WASHINGTON: The International Monetary Fund (IMF) said on Sunday it was monitoring potential implications for financial stability from the collapse of Silicon Valley Bank, but said it was confident Washington was taking appropriate regulatory steps.

Silicon Valley Bank is largest failure since 2008 crisis, billions stranded

"We are closely monitoring developments and potential financial stability implications, and have full confidence that policy makers in the United States are taking appropriate steps to address the situation," an IMF spokesperson told Reuters in a statement.