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WASHINGTON, June 24 (Reuters) - The U.S. Federal Reserve onTuesday gave four banks more time to resubmit capitaldistribution plans it had earlier objected to, saying this wouldgive the firms more time to address capital planning weaknesses.
The four banks, which had asked for the extension, areCitigroup Inc, HSBC North America Holdings, Inc.,RBS Citizens, Inc and Santander Holdings USA, Inc..
The banks were originally scheduled to submit their plans byJune 26, but now have until Jan. 5, 2015.
The firms will not be able to increase their capitaldistributions to shareholders, such as dividends and sharebuy-backs, until the new plans are approved. (Reporting by Douwe Miedema; Editing by Andrea Ricci)
