BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE: STT) provided the following statement on today’s announcement by the Board of Governors of the Federal Reserve System (Federal Reserve) and the Federal Deposit Insurance Corporation (FDIC) on the completion of their review of State Street’s resolution plan submitted in June 2017 under Section 165(d) of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
The Federal Reserve and FDIC joint announcement made earlier today indicates that the agencies did not identify any deficiencies or shortcomings in State Street’s 2017 resolution plan.
The preparation of State Street’s 2017 resolution plan entailed senior executive oversight and firm-wide engagement across operations, legal entity governance, capital and liquidity.
Additional details regarding State Street’s 2017 resolution plan are available at http://investors.statestreet.com/.
About State Street Corporation
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 $32.1 trillion in assets under custody and administration and $2.67 trillion* in assets under management as of September 30, 2017, 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.
*AUM reflects approx. $36 billion (as of September 30, 2017) with respect to which State Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as marketing agent; SSGA FD and State Street Global Advisors are affiliated.
