The purpose of this paper is to apply filter banks to the control problem involving the rejection of multi-sinusoidal disturbance from output of slowly time-varying stable systems. The use of filter banks allows to distribute the control effort in many independent adaptive controllers, each of them taking care of a sinusoidal component of the disturbance. By varying the filter banks specifications, the method handles the trade-off between a time-behavior controller, with interesting settling time and a tonal-behavior controller showing the properties of simplified control, reduced computational time and on-line system identification with the system output noise via the feedback loop. Numerical examples are presented to illustrate this trade-off.