WASHINGTON: The Federal Reserve rejected Wednesday the capital plans of the US operations of Spanish bank Santander and Germany's Deutsche, saying it saw serious problems in the planning processes of both.

Capping a round of stress tests on the 31 largest banks in the US, the Fed also gave Bank of America's plan a qualified pass, while the other 28 gained full approval for their dividennd and share buyback programs.

Copyright AFP (Agence France-Presse), 2015