Citing deficiencies with its risk management and capital planning processes, among others, the Federal Reserve this week hit Boston-based Santander Holdings USA with an enforcement action ordering it to shape up.

The Fed did not detail those deficiencies in a written agreement released on Tuesday, but according to the agreement, Santander Holdings will submit written plans to strengthen board oversight of its management and operations of the consolidated organization, to enhance its firmwide risk management program, to improve its capital planning and to strengthen its liquidity risk management.

The company has 60 days to submit those plans to the Fed, and additionally, it agreed to provide the Fed with progress reports within 30 days of the end of each calendar quarter, updating the regulatory body on its efforts to comply with the agreement.