Silicon Valley Bank's implosion isn't a canary in the coal mine and won't result in contagion, RBC analyst says

• Silicon Valley Bank's implosion isn't a canary in the coal mine, said RBC analyst Gerard Cassidy.
• Contagion is unlikely to spill over, since SVB was unique in its exposure to bonds, he told CNBC.
• SVB also held a low ratio of small customer deposits, meaning its funding is more sensitive to rates.

Silicon Valley Bank's implosion isn't a canary in the coal mine, and it won't result in contagion across the banking industry, according to RBC analyst Gerard Cassidy.