Fed extends deadline for 4 banks' updated capital plans

The Federal Reserve announced that it will allow the U.S. divisions of Royal Bank of Scotland Group, Banco Santander and HSBC Holdings, along with Citigroup, to submit updated capital plans in January. "The firms will not be able to increase their capital distributions until a new capital plan is approved," according to the central bank. "The extensions will give the firms additional time to address the capital-planning weaknesses identified by the Federal Reserve."

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