The results for banks' stress tests, the annual exercises conducted to determine banks' health, will be released on June 22 and June 28, the Federal Reserve announced Thursday.

The stress tests involve projecting how banks' balance sheets would hold up in a hypothetical financial crisis. The first round examines what would happen to their capital levels. The second round of stress tests also considers bank management and planning practices. If the regulators determine that the bank wouldn't be prepared for the market chaos, they can halt the bank's plans for paying out dividends or buying back shares.

Regulators have maintained that the stress tests, which they began conducting during the financial crisis, have made the banking system safer.

Banks, however, have complained that the exercises lack transparency and force them to guess at regulators' intentions.

Speaking on CNBC Thursday, Fed Governor Jerome Powell said that the central bank would be aiming this year to communicate its plans more clearly.

"We do hear the complaints and we are working now as we have continuously to provide more information, more transparency," he said.

In November, the Government Accountability Office concluded that the design of the stress tests lacked transparency, potentially hurting market confidence.

The stress test requirements are among the many new financial rules that the Trump administration is expected to review and potentially change to ease the regulatory burden on banks.

House Republicans are expected to vote next week for a sweeping financial regulatory package that would make the stress tests less frequent and require regulators to disclose the terms of the tests.

In past years, a lot has ridden on the stress tests for the executives of banks thought to be in danger of failing. More recently, big banks have gotten better at passing. In last year's version, Morgan Stanley was the only megabank initially to be told that its plan needed reworking. In March, regulators gave the bank the go-ahead after it resubmitted its plan.