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SunTrust Banks, Inc.
STI
announced that the Federal Reserve has not objected to the Company's capital
plan, which SunTrust submitted in June in connection with the Comprehensive
Capital Analysis and Review (CCAR). As previously disclosed, in this capital
plan the Company did not request an increase in its common stock dividend or
the repurchase of shares of its common stock in 2012. As announced in March,
the Federal Reserve did not object to certain other capital actions
following its review of the Company's capital plan submitted in January.
Those actions included the redemption of certain trust preferred securities,
which the Company subsequently completed, and continuation of the current
$0.05 per share quarterly dividend on SunTrust's common stock. SunTrust
expects to reevaluate its capital deployment alternatives as part of the
2013 CCAR process.
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