The top Republican on the Senate Banking Committee said it is too soon to tell whether or not U.S. banks are on the road to recovery, despite some giants indicating they won't need more capital injections from the Treasury.

"Let's wait and see," Sen. Richard ShelbyRichard Craig ShelbyOvernight Energy: EPA declines to write new rule for toxic spills | Senate blocks move to stop Obama water rule | EPA bought 'tactical' pants and polos Senate panel advances three spending bills Trump threatens to shut down government over full border wall funding: report MORE (R-Ala.) said Friday morning during an appearance on CNBC. "They're going to go through a stress test, and I hope that all of them pass it with flying colors, but they won't."

Shelby's comments throw a dash of cold water on a stock market that has climbed steadily on positive news from banks, after comments from the CEOs of Citigroup and Bank of America indicating they don't foresee the need for future federal assistance, and hope to turn a profit this year.

"When you keep it open, you pump a lot of taxpayer money into it," Shelby added. "I don't there's any insitution -- other than the government -- that cannot fail."

Shelby also defended his obstinate opposition to additional bailouts and spendings to assist banks and other major corporations.

"I wouldn't say I'm the voice of opposition -- I would hope I'm the voice of rational thinking and reason some days," he said.

Watch a video of the appearance below: