Fed’s Parkinson Says 30% of Banks’ Ratings Unsatisfactory

Patrick Parkinson, the Federal Reserve’s chief bank regulator, said about 30 percent of U.S. banks have “less than satisfactory” supervisory ratings.

Parkinson, director of the central bank’s division of banking supervision and regulation, told a gathering of bankers today that while asset quality is “stabilizing,” the “conditions in real estate markets are still very difficult” and the banking system is “still in the repair and recovery stage.”