SunTrust Banks (STI) said Wednesday that the Federal Reserve Board did not object to its revised capital plan.
The Atlanta company originally failed the government's stress test earlier this year when its Tier 1 capital ratio fell to 4.8%, below the 5% minimum, in a hypothetical stress scenario. SunTrust submitted a new plan in June.
The new capital plan did not include increasing its dividend from five cents per share or repurchasing shares this year.
Fifth Third Bancorp (FITB) said Tuesday that the Fed had signed off on its revised capital plan that included a potential increase in its dividend and stock repurchases. Fifth Third passed the test earlier but the Fed had objected to its request to buy back stock and increase its dividend.