The Manchester United defender was stripped of the armband last week as the Three Lions prepared for a Euro 2012 qualifier against Wales.
In the wake of ongoing injury problems, it was decided to relieve Ferdinand of the honour.
Chelsea centre-half John Terry was reinstated to the role, 13 months after he was stood down following allegations about his private life.
Capello admitted in the build-up to the Wales game that the issue could have been handled better, with Ferdinand discovering his fate through the media.
Talks were due to be held between the United ace and his national coach, but such discussions failed to materialise.
Capello is still planning to explain his decision, though, and hopes he will get the chance to meet with Ferdinand at some stage in the near future.
It is important that he gets the opportunity to explain his side of the story, as vice-captain Steven Gerrard revealed on Sunday that he had been made aware of the decision through a telephone call.
Pressed on the issue during a press conference on Monday, Capello said: "Rio was the captain, Steve was the vice-captain.
"I hope that over the next few weeks I will meet with him (Ferdinand)."
Capello has also revealed that he allowed Terry, Wayne Rooney, Ashley Cole, Frank Lampard and Michael Dawson to return to their clubs ahead of Tuesday's friendly against Ghana in order to protect them from injury.
He said: "The players that aren't here, those that went home, are not here because if you are tired it is easy to be injured."
The Italian will also be giving his full support to Jack Wilshere's claims for an U21 berth this summer, with the Arsenal youngster revealing that he hopes to step out of the senior fold and join the Young Lions at the European Championship.
Capello added: "Yeah, I will support him 100 per cent because I think the players will be really important for the Under 21s.
"Those players can make the difference."