LONDON, March 27 (Reuters) - Royal Bank of Scotland said it would resubmit the capital plans for its U.S. businessCitizens after it was one of three foreign banks who had plansrejected by the U.S. Federal Reserve.
The Fed blocked the capital plans of five banks onWednesday, including the U.S. arms of RBS, HSBC andSantander, which it said was due to weaknesses in theircapital planning processes.
The Fed said the three foreign banks were all new to itsprocess and HSBC and RBS had "significant deficiencies" in theircapital planning processes.
"We clearly have more work to do to meet the Fed'sstandards, and we're fully committed to doing that," RBS said ina statement on Thursday. (Reporting by Steve Slater, editing by Kirstin Ridley)