Bank of America said Monday that it was suspending its share buyback program and a planned increase in its dividend after it discovered flaws in the information it submitted to the Federal Reserve as part of a stress test process.

In a statement, the bank attributed the error to an incorrect adjustment related to the treatment of structured notes assumed in its acquisition of Merrill Lynch in 2009. As a result of the error, the bank said, its capital levels are lower than what it had disclosed to the Fed.

After the bank notified the Federal Reserve of the mistake, the Fed “is requiring the Bank of America Corp. to resubmit its capital plan and to suspend planned increases in capital distributions,” it said in a statement.

Bank of America had planned to buy back $4 billion in stock and raise its quarterly dividend to 5 cents a share from 1 cent. It said it would resubmit a capital action plan but warned that it would most likely be less than the one it was just required to suspend, suggesting that investors could expect a smaller dividend increase or stock repurchase plan.

The news represents a blow for Bank of America, which had passed the stress test easily and was given authorization to increase its dividend for the first time since the financial crisis.