Silicon Valley Bank unlikely to find a buyer - report

CNBC's David Faber says Silicon Valley Bank's deposits are moving out very quickly so it's hard for buyers to step in. He says attempts to sell it aren't looking good and that if a sale doesn't happen "you can imagine what will happen" and noted that regulators are ready to step in (presumably to wind it down).

A much better scenario would have been a large bank buying it and that would stem the outflow of deposits. The problem is that there's no time for a buyer to review the balance sheet and there's a run right now with deposits fleeing.

So this is bad news as everyone is now going to be getting their money out as quickly as possible. The risk is for a larger run on bank deposits and until this is resolved, you can't rule anything like that out.

/us dollar US Dollar The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel Read this Term