Reuters: Regulatory News: SunTrust says revised capital plan gets Fed's nod

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SunTrust says revised capital plan gets Fed's nod Aug 22nd 2012, 20:37 Wed Aug 22, 2012 4:37pm EDT Aug 22 (Reuters) - SunTrust Banks Inc said the Federal Reserve did not object to the bank's revised capital plan submitted in June in connection with the Comprehensive Capital Analysis and Review (CCAR). SunTrust, which suffered large losses due to the financial crisis, was one of the four large U.S. banks whose capital plans, including raising dividends and initiating stock buybacks, was rejected by the Federal Reserve Board in March as part of its stress-test reviews. The bank had said last month that it did not request the Fed to allow it to return additional capital, either by a dividend increase or by buy back of shares, in its revised plan. SunTrust expects to re-evaluate its capital deployment alternatives as part of the 2013 CCAR process, the Atlanta-based bank said in a statement. The submission of the 2013 capital plan is due next January. The bank's shares, which touched a year-high of $25.76 on Tuesday, closed at $25.20 on the New York Stock Exchange on Wednesday.

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