The Fed just stress-tested the biggest banks in America — and they passed.

The Fed just stress-tested the biggest banks in America — and they passed.

The Federal Reserve dropped its annual stress test results. Verdict: large banks survive a severe recession, lending stays intact, no capital shortfalls, no names flagged. Clean sweep.

Here's why that's not just a headline — stress test clearance unlocks capital return season. Dividends. Buybacks. The clock starts the second results hit. JPMorgan, Goldman, Bank of America, Wells Fargo, Morgan Stanley, Citigroup — all cleared. Expect capital return announcements in the next 24 to 48 hours. That's the annual playbook, and it runs on schedule.

Separate signal: Old Second Bancorp filed an 8-K with the SEC. Regional. Small cap. Filing details are thin in this feed. If you're running regionals, flag it and dig.

Also on the Fed wire — enforcement actions issued against Small Business Bank. Terminations announced for BNP Paribas and its affiliates, plus Community Bankshares. That's the other side of the stress test cycle. Somebody passes, somebody gets a letter.

Macro read: the Fed just handed the big banks a green light. Capital flows follow.

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