Bloomberg News

Patrikis Says Fed Stress Tests Treat Banks Like Public Utilities

By Cheyenne Hopkins and Kathleen Hays
March 15, 2012

The Federal Reserve is intruding on bank discretion by using stress test results in assessing plans for capital distribution, said Ernest Patrikis, a partner at White & Case LLP and a former New York Fed general counsel.

“It’s almost treating banks like they are public utilities,” Patrikis said today in a radio interview on “The Hays Advantage” with Kathleen Hays and Vonnie Quinn.

To contact the reporters on this story: Cheyenne Hopkins at Chopkins19@bloomberg.net

To contact the editor responsible for this story: Christopher Wellisz at cwellisz@bloomberg.net

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