However, the Fed rejected BB&T's capital plan due to qualitative reasons.
Regulations bar both the Fed and BB&T from revealing exactly what specific faults officials found in BB&T's plan, but the company said last week it plans to file a revised capital plan that should satisfy regulators.
"BB&T plans to resubmit its capital plan as soon as feasible, and expects that its resubmitted plan will address the factors which led to the Fed's objections," the company said in a statement.
According to The Associated Press, the Fed noted BB&T announced this month it has changed the way it calculates certain assets. That means its capital ratios would be lower than what the Fed had predicted in the CCAR report, which used data BB&T submitted to the Fed in January.
BB&T chairman and chief executive officer Kelly King said even though the Fed objected to the company's capital plan, it did not object to the company's $.23 per share quarterly dividend, which was increased 15 percent in the first quarter.
"This reflects the strength of our financial position," King said. "We remain strongly committed to our shareholders and are proud to have one of the strongest dividend yields and highest payout rates in the industry."
BB&T wasn't the only bank to have its capital plan rejected by the Fed last week.
Regulators also rejected the capital plan of Ally Financial, the former financial arm of General Motors. Unlike BB&T, Ally's plan was rejected because the bank did not meet minimum capital ratios required to pass the stress test.
The Fed also conditionally approved capital plans for New York-based banks Goldman Sachs JP Morgan Chase, provided they submit new capital plans by the end of the third quarter that address weaknesses in their capital planning processes.
The Associated Press contributed to this article.