LONDON (Reuters) – A market-based indicator of stress within the U.S. banking system jumped on Monday to its highest in three months, as turmoil engulfed regional lenders following the collapse of Silicon Valley Financial institution.

The hole between the U.S. three-month ahead charge settlement and the three-month in a single day index swap charge, a funding stress indicator, rose to round 18 foundation factors in London commerce from 23.7 bps on Thursday.

The so-called FRA/OIS unfold which is used to gauge U.S. banking sector stress jumped to 18.2 bps, from nearer to 12 bps final week, its highest since Dec. 22.

A U.S. official mentioned on Sunday that the deposit outflows that left many regional banks reeling within the wake of SVB’s failure had slowed and in some circumstances reversed, as traders tried to determine whether or not the disaster was contained.