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Photo: Angela Weiss/AFP via Getty Images

Temporary limits on dividend payments and stock buybacks are expected to wrap up for most banks after June 30, once annual stress tests are completed, the Federal Reserve announced Thursday.

Why it matters: It's the latest example of pandemic-era restrictions — and breaks on regulatory requirements — getting rolled back as the worst of the economic crisis passes.

What they're saying: "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," Randal Quarles, the Fed’s vice chair of supervision, said in a statement.

Flashback: The Fed initially imposed restrictions on dividend payments and buybacks last summer after a round of tests on how their balance sheets could withstand a series of strenuous economic scenarios.

  • They tweaked those limits at the end of last year following a second set of so-called "stress tests."

Catch up quick: The Fed said last week it would let a break on banks' capital requirements — put in place when the pandemic hit — expire later this month, much to the industry's ire.

Go deeper

America's pandemic coin crunch returns

Illustration: Sarah Grillo/Axios

An early pandemic problem that plagued businesses is back: not enough change to go around.

Why it matters: The pandemic broke America's coin flow. It has repercussions for millions that rely on it for daily transactions.

2 hours ago - World

Explosions in Tel Aviv and Gaza as Israeli-Palestinian crisis escalates

Israel's Iron Dome aerial defense system intercepts a rocket fired from Gaza over southern Israel. Photo: Menahem Kahana/AFP via Getty

Tel Aviv — The Hamas and Islamic Jihad militant groups fired dozens of rockets from the Gaza Strip toward Tel Aviv and other cities in central Israel on Tuesday night, a new step in the current conflict that is likely to be followed by increased Israeli air strikes in Gaza.

Why it matters: The current crisis began in Jerusalem but has evolved into a military conflict across Israel and Gaza that remains on a path of escalation.