Wall Street’s largest lenders boosted their dividends after passing this year’s Federal Reserve stress tests, a hurdle that regulators made easier to clear by softening some of the requirements laid out in previous years.

U.S. banking giants announced plans on Tuesday to raise their third-quarter dividends after clearing the Federal Reserve's annual health check last week.

All 22 banks that participated in the Federal Reserve’s stress test passed, although it was less stringent than past years.