WASHINGTON, April 28 The U.S. Federal Reserve on
Monday said Bank of America had to redo a capital plan it had
submitted as part of the Fed's annual stress tests, and that it
told the bank to suspend any raises in shareholder capital
Bank of America had disclosed it had incorrectly reported
data used in the calculation of regulatory capital ratios, and
submitted those as inputs for the stress tests, the Fed said.
The bank had to resubmit its capital plan within 30 days,
and correct the errors, but the Fed said it could still extend
"Until receiving notice that the Federal Reserve has not
objected to the new capital plan, Bank of America will not be
able to increase its capital distributions, including those
increases approved during the (stress tests)," the Fed said.
(Reporting by Douwe Miedema; Editing by Susan Heavey)