The Fed just put two dates on the calendar that every bank trader needs to know.
The Fed just put two dates on the calendar that every bank trader needs to know. Two items off the wire right now. First — the Federal Reserve has issued enforcement actions against a former employee of Atlantic Union Bank and a former employee of Frost Bank. Two individuals. Two separate…
Transcript
The Fed just put two dates on the calendar that every bank trader needs to know.
Two items off the wire right now. First — the Federal Reserve has issued enforcement actions against a former employee of Atlantic Union Bank and a former employee of Frost Bank. Two individuals. Two separate institutions. No dollar figures released yet.
Second — and this one moves markets. The Fed has confirmed annual bank stress test results drop Wednesday, June 24th, 4 p.m. Eastern. That's your hard date. Stress tests cover the largest U.S. banks. Results determine capital return capacity — dividends, buybacks, all of it. Mark it.
Atlantic Union trades on Nasdaq under AUB. Cullen/Frost — parent of Frost Bank — trades on NYSE under CFR. Both names now have Fed enforcement headlines attached. Watch the tape.
June 24th. 4 p.m. Eastern. Every major bank name is in play that afternoon.
Numbers don't lie. People do. Trade accordingly.