Golden Finance reported that large U.S. banks announced dividend increases on Friday after they easily passed the Federal Reserve's annual stress test. Major banks such as JPMorgan Chase and Bank of America announced dividend increases. Just two days ago, the regulator's assessment results showed that all 31 banks participating in the test could maintain sufficient capital to withstand the test of the hypothetical recession scenario. Other banks that increased dividends include Citigroup, Wells Fargo and Morgan Stanley. JPMorgan Chase and Morgan Stanley also approved tens of billions of dollars in stock buyback plans. The Federal Reserve asked banks to wait until the market closed on Friday to disclose updates so that each company and investors have time to digest the results. JPMorgan Chase announced that it would buy back no more than $30 billion in shares, and Morgan Stanley reauthorized a buyback plan of no more than $20 billion.