WASHINGTON — The Federal Reserve Board said Thursday it would approve the capital plans of 16 of the 18 largest banks, rejecting proposals put forward by Ally Financial and BB&T.

In its third round of stress tests, the central bank also asked JPMorgan Chase and Goldman Sachs to take a second look at their capital plans, citing weaknesses, but it gave them conditional approvals to move forward.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.