For Volokhin, it is “creeping nationalization.”
But the banks dismissed allegations of financial troubles.
A Citigroup spokesman highlighted the bank’s high Tier 1 capital ratio, a measure of financial strength and said it continues to cut assets on its balance sheet, reduce expenses and streamline its businesses for future “profitable growth.”
Scott Silvestri, a spokesman at Bank of America, echoed the view.
“We see no reason to nationalize a bank that is profitable, well capitalized and actively lending,” he said.