Fed’s Quarles: Will free most banks from pandemic dividend limits from June 30

Large US banks will be allowed to resume dividend increases at the end of June, Fed Vice Chairman for Supervision Randal Quarles said in the statement late Thursday, hinting towards an end to pandemic-era restrictions that dragged on financial stocks last year.

Key quotes

“The banking system continues to be a source of strength and returning to our normal framework after this year’s stress test will preserve that strength.” 

“The board’s decision was approved unanimously.”