BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE:STT) today announced that it has filed its response to the deficiencies and shortcoming identified by the Federal Reserve and Federal Deposit Insurance Corporation (FDIC) in April of this year relating to State Street’s 2015 resolution plan.
State Street, along with other banking institutions with $50 billion or more in total assets, annually prepares and files a resolution plan, commonly referred to as a “living will” with the Federal Reserve and the FDIC. In its response filed on October 1, State Street describes the actions it has taken to address the areas raised by the regulators and explains the progress it has made in response to the Federal Reserve and FDIC’s guidance for its 2017 resolution plan. The Public Section of State Street’s response can be found in the Investor Relations section of its website, at http://investors.statestreet.com/.
About State Street
State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors, including investment servicing, investment management and investment research and trading. With $27.78 trillion in assets under custody and administration and $2.3 trillion* in assets under management as of June 30, 2016, State Street operates in more than 100 geographic markets worldwide, including the US, Canada, Europe, the Middle East and Asia. For more information, visit State Street’s website at www.statestreet.com.
*Assets under management were $2.30 trillion as of June 30, 2016. AUM reflects approx. $40 billion (as of June 30, 2016) with respect to which State Street Global Markets, LLC (SSGM) serves as marketing agent; SSGM and State Street Global Advisors are affiliated.
This news release contains forward-looking statements as defined by United States securities laws, including statements relating to our goals and expectations regarding our business, operations and strategies. Forward-looking statements are often, but not always, identified by such forward-looking terminology as “will,” “goal,” “objective,” “intend,” “plan,” “forecast,” “outlook,” “believe,” “anticipate,” “estimate,” “seek,” “may,” “trend,” “target,” “strategy” and “expect,” or similar statements or variations of such terms. These statements are not guarantees of future performance, are inherently uncertain, are based on current assumptions that are difficult to predict and involve a number of risks and uncertainties. Therefore, actual outcomes and results may differ materially from what is expressed in those statements, and those statements should not be relied upon as representing our expectations or beliefs as of any date subsequent to the date of this news release. Important factors that could cause actual results to differ materially from those indicated by any forward-looking statements are set forth in our 2015 Annual Report on Form 10-K and our subsequent SEC filings. We encourage investors to read these filings, particularly the sections on risk factors, for additional information with respect to any forward-looking statements and prior to making any investment decision. The forward-looking statements contained in this news release speak only as of the date hereof, and we do not undertake efforts to revise those forward-looking statements to reflect events after that date.