Two Fed moves just dropped and if you're in financials, you need to hear this right now.
Two Fed moves just dropped and if you're in financials, you need to hear this right now. First — the Fed issued enforcement actions against a former employee of Atlantic Union Bank and a former employee of Frost Bank. Individual-level enforcement. That means conduct issues, not institution-wide…
Transcript
Two Fed moves just dropped and if you're in financials, you need to hear this right now.
First — the Fed issued enforcement actions against a former employee of Atlantic Union Bank and a former employee of Frost Bank. Individual-level enforcement. That means conduct issues, not institution-wide failure — but you watch the names, because where there's smoke there's usually a CFO who knew something.
Second — and this is the bigger one for the sector — the Fed just confirmed annual bank stress test results drop Wednesday, June 24, at 4 p.m. EDT. Mark it. That's your capital return clarity date. Buybacks, dividends, everything the big banks have been sitting on pending that release. JPM, BAC, WFC, C — all of them on the clock. Stress test results drive capital allocation decisions for the back half of the year. If you're positioned in financials and you don't have June 24 circled, fix that now.
Two separate items, one message — the Fed is active and the stress test countdown is live.
The numbers are the numbers. Management can spin. We don't.