Fed stress test results drop today.

Fed stress test results drop today. 4 p.m. EDT. Every major bank on the clock.

The Federal Reserve confirmed it — stress test results hit Wednesday, June 24, at 4 p.m. Eastern. Annual exam. Determines capital requirements, moves dividend decisions, unlocks or kills buyback authorizations. Banks go quiet until these clear. That silence ends today.

Watch the big names into the close. Unusual options activity before 4 p.m. is worth flagging. Results land after market hours, so futures and pre-market Thursday are your first real read on how this lands.

Separate item. The Fed issued enforcement actions against a former Atlantic Union Bank employee and a former Frost Bank employee. Individual-level. Not institutional sanctions against the banks themselves. AROW and CFR are not under institutional action based on this release. That distinction matters — don't trade the headline, trade the detail.

Two Fed headlines today. One moves markets. One is housekeeping. Know the difference.

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