The Federal Reserve Board and the Federal Deposit Insurance Corp. have announced that the resolution plans of four European banks — Barclays PLC, Credit Suisse Group AG, Deutsche Bank AG and UBS Group AG — have weaknesses.

However, the plans did not have deficiencies, which are weaknesses severe enough to result in additional prudential requirements if not corrected, the regulators said.

The regulators sent feedback letters to each of the four banks, detailing the shortcomings and specific actions that can be taken to address them. The banks must address the shortcomings in their next resolution plans, which are due July 1, 2020, and they are anticipated to implement certain resolution projects in the interim.

These shortcomings include weaknesses in how each of the four banks communicate and coordinate between their U.S. operations and their foreign parents in stress. Credit Suisse also had a shortcoming related to estimating the liquidity needs of its U.S. intermediate holding company in a resolution, the regulators said.

For foreign banking organizations, resolution plans are focused on their U.S. operations. However, the regulators acknowledged that the preferred outcome for these four European banks is a successful home country resolution using a single point of entry resolution strategy.

In addition, the regulators announced that they have finalized resolution plan guidance applying to the eight largest and most complex domestic banking organizations. The final guidance is mostly similar to the proposal issued in June, and provides additional information for the firms regarding their resolution planning capabilities in areas such as capital; liquidity; and payment, clearing and settlement activities.

The banks are Bank of America Corp., Bank of New York Mellon Corp., Citigroup Inc., Goldman Sachs Group Inc., JPMorgan Chase & Co., Morgan Stanley, State Street Corp. and Wells Fargo & Co.