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Banks roll out spending plans

The Federal Reserve has approved the spending plans for 28 US banks, saying that after "stress tests" they have large enough capital buffers to keep lending through another financial crisis and severe economic downturn.

Many of the banks responded by revealing their plans.

Here's what they say they will do:

American Express Co - will buy back up to $US6.6 billion ($A8.71 billion) in stock and raise its dividend to US29 cents from US26 cents.

BB&T Corp - will buy back up to $US820 million in stock and raise its dividend to US27 cents from US24 cents.

BBVA Compass Bancshares Inc - will raise its common dividend to $US115 million from $US102 million.

Capital One Financial Corp - plans to buy back $US3.13 billion in stock and raise its dividend from US40 cents from US30 cents.

Citi - will buy back up to $US7.8 billion in stock and raise its quarterly dividend to US5 cents from US1 cent.

Comerica Inc - will buy back up to $US393 million in stock and raise its dividend to US21 cents from US20 cents.

Discover Financial Services - will buy back $US2.2 billion in stock and raise its dividend to US28 cents from US24 cents.

Goldman Sachs - will raise its dividend to US65 cents from US60 cents. It said the Fed approved a stock repurchase but didn't disclose the size.

Huntington Bancshares - will buy back up to $US366 million in stock and raise its dividend to US7 cents from US6 cents.

JPMorgan Chase & Co - will buy back up to $US6.4 billion in stock and raise its dividend to US44 cents from US40 cents.

Morgan Stanley - says it will buy back $US3.1 billion in stock and raised its dividend to US15 cents from US10 cents.

Northern Trust Corp - will buy back $US675 million in stock and raise its dividend to US36 cents from US33 cents.

PNC Financial Services Group - will buy back up to $US2.88 billion in stock and raise its quarterly dividend to US51 cents from US48 cents.

State Street Corp - will buy back up to $US1.8 billion in stock and raise its dividend to US34 cents from US30 cents.

SunTrust Banks Inc - will buy back $US875 million in stock and raise its dividend to US24 cents from US20 cents.

US Bancorp - will repurchase $US3.02 billion in stock and raise its dividend to US25.5 cents from US24.5 cents.

Zions Bancorp - will raise its dividend to US6 cents from US4 cents, continue paying preferred dividends at current rates, and reduce its preferred equity by $US300 million, to $US700 million total.

The Fed rejected plans from Bank of America, the US division of Germany's Deutsche Bank AG, and the US unit of Banco Santander SA of Spain.