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 straight from the Federal Reserve wire.

First — enforcement actions. The Fed has moved against a former employee of Atlantic Union Bank and a former employee of Frost Bank. Two individuals. Two separate institutions. Details on violations not yet disclosed.

Second — and this one moves markets. The Fed has confirmed annual bank stress test results drop Wednesday, June 24th. Four p.m. Eastern. That's your hard timestamp. Every major bank holding company is in that data set. Results hit after the close, so expect positioning to start building before that bell.

Mark June 24th. Four p.m. Eastern. Stress tests. That's when you find out which balance sheets held up and which ones have questions to answer.

Atlantic Union — ticker AUB. Frost parent is Cullen/Frost — ticker CFR. Both names now carry active Fed enforcement headlines.

Watch the tape on regional banks between now and the 24th.

Numbers don't lie. People do. Trade accordingly.