Deutsche Bank's US division has failed its first public Federal Reserve's stress test, while a raft of others, including Goldman Sachs and Morgan Stanley, have had to revise their payout plans.

Deutsche Bank's US holding company had already been put on the Fed's list of troubled lenders but the central bank said it had now failed the stress test on qualitative grounds, citing concerns over the company's ability to "effectively determine its capital needs on a forward-looking basis".

"Material weaknesses were identified in data capabilities and controls supporting the firm’s capital planning process; in approaches and assumptions used to forecast revenues and losses arising from many of its key business lines and exposures under stress; and in the firm’s risk management functions, including model risk management and internal audit," the Fed said.

Deutsche Bank's US holding company, which is an umbrella for some of its units in the country, had taken part in previous stress tests, but this was the first time its results have been made public.

However, the lender's failure will mean it will now have to get any dividend payments it wants to pay back to its Frankfurt parent company signed off by the Fed.

Deutsche Bank this evening reiterated that the business was just one part of the US operation, and said the other entities facing the stress test had had "nine years to adjust to regulatory requirements as Federal Reserve stress tests have evolved".