Richard Drew/AP
- All US regional banks will be under threat unless regulators move to insure all deposits, according to Bill Ackman.
- "The FDIC's failure to update and expand its insurance regime has hammered more nails in the coffin," he said Wednesday.
- Both Silicon Valley Bank and First Republic failed after customers yanked their money from the struggling lenders.
The entire US regional banking sector will be at risk unless the Federal Deposit Insurance Corporation moves to guarantee all customers' deposits, Bill Ackman has warned.
"The FDIC's failure to update and expand its insurance regime has hammered more nails in the coffin," Ackman said on Twitter Wednesday.