The Fed just put two dates on the calendar that every bank trader needs to know right now.
The Fed just put two dates on the calendar that every bank trader needs to know right now. Two items off the Fed wire. First — enforcement actions filed against a former Atlantic Union Bank employee and a former Frost Bank employee. Individual-level actions, not institutional. Watch Atlantic Union…
Transcript
The Fed just put two dates on the calendar that every bank trader needs to know right now.
Two items off the Fed wire. First — enforcement actions filed against a former Atlantic Union Bank employee and a former Frost Bank employee. Individual-level actions, not institutional. Watch Atlantic Union, ticker AUB, and Cullen/Frost, ticker CFR, for any reaction. The Fed doesn't file these quietly.
Second — and this is the bigger one — annual bank stress test results drop Wednesday, June 24th, 4 p.m. Eastern. Mark it. That's the moment the Fed tells the market which banks have capital to deploy and which ones don't. Buybacks, dividends, capital returns — all of it hinges on what comes out of that release. JPMorgan, Bank of America, Goldman, Morgan Stanley, Wells Fargo — every major sits in a holding pattern until then. June 24th, 4 p.m. Eastern. Put it in your calendar twice.
Numbers don't lie. People do. Trade accordingly.