American banks raked in record profits last year, and they even have enough cash to reward shareholders with sizable dividends. Bank dividends hit $102.8 billion in 2016, according to the FDIC. That's just a tad shy of the record shelled out in 2007, the year before the financial meltdown.

President Trump has vowed to scrap many regulations on banks, particularly those that he says have suppressed lending. Trump has promised to undo various restrictions on financial firms that were put into place after the 2008 financial crisis, including the 2010 Dodd-Frank Act.

Even after being pounded by a severe economic downturn, banks collectively had a 9.2% capital buffer, staying well above the Fed's minimum of 4.5%. That was better than last year's results

Banks will get the chance to revise their capital plans before next week's results are released. But any bank that fails will have to draw up new plans and won't be allowed to pay dividends to shareholders until it has been approved by regulators.

banks will learn whether the Fed is blocking or approving its plans to buy back stock or pay dividends to shareholders.

"This year's results show that, even during a severe recession, our large banks would remain well capitalized," Federal Reserve Governor Jerome Powell said in a statement. "This would allow them to lend throughout the economic cycle, and support households and businesses when times are tough."

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Donna Borak and Matt Egan  

There is "no possibility … of a military strike from the U.S. which would cause disastrous consequences to Seoul in particular," Dauba-

Kim's move to test the missile at a more horizontal angle was "to prove that they can reach a certain distance" – namely, North Korea's threat against the U.S. Pacific territory of Guam. Up until now, missile tests have been vertical, Dauba-Pantanacce added.

U.S. President Donald Trump was busy with Hurricane Harvey, and a coherent coalition between China, Russia and other international players is yet to be assembled. The most recent missile flew over the northern Japanese island of Hokkaido earlier this week.

While North Korea's repeated missile tests and defiance of international sanctions may seem erratic to onlookers, Supreme Leader Kim Jong Un's latest move demonstrates a "very rational" strategy based on an "sense of acute timing," one strategist told CNBC.