March 17 (Reuters) – Invoice Ackman in a tweet on Friday stated Financial institution of America (BAC.N) goes to accumulate Signature Financial institution (SBNY.O) on Monday, with out citing the supply of data.
“I’m listening to that @BankofAmerica goes to purchase Signature Financial institution on Monday. Except and till we are able to defend uninsured deposits, the price of capital goes to rise for smaller banks pushing them to merge or be acquired by the SIBs. I don’t suppose that is good for America,” he tweeted.
Nevertheless, a supply acquainted with the matter instructed Reuters that Financial institution of America shouldn’t be involved in shopping for Signature Financial institution.
Signature Financial institution didn’t instantly reply to a Reuters request for remark. Financial institution of America declined to remark.
State regulators closed New York-based Signature Financial institution on Sunday, the third largest failure in U.S. banking historical past, two days after authorities shuttered Silicon Valley Financial institution in a collapse that stranded billions in deposits.
Reporting by Akriti Sharma and Greg Roumeliotis; Modifying by Maju Samuel
: .