BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE:STT) will provide more details about our proposed capital distributions after CCAR results are released by the Federal Reserve next week. Given this year’s more severe stress scenario and the nature of our business model that differs from that of a traditional commercial or investment bank, we believe that the DFAST results may not be fully indicative of the capital distributions that we may be permitted to make following the CCAR results.
This News Release contains forward-looking statements within the meaning of United States securities laws, including statements about our planned capital distributions and the amounts thereof. Forward-looking statements are often, but not always, identified by such forward-looking terminology as “will” and “believe” or similar statements or variations of such terms. These statements are not guarantees of future outcomes, 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 may affect future results and outcomes include, but are not limited to: the level and type of capital distributions we are permitted to make under our 2018 capital plan (July 2018-June 2019) are subject to the results of the Federal Reserve’s review of that capital plan in connection with the CCAR 2018 stress test; the timing of our stock purchases, types of transactions and number of shares purchased will depend on several additional factors, including, market conditions and State Street’s capital positions, its financial performance and investment opportunities; and our common stock and preferred stock dividends, including the declaration, timing and amount thereof, are subject to consideration and approval by our board of directors at the relevant times. Other important factors that could cause actual results to differ materially from those indicated by any forward-looking statements are set forth in our 2017 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 should not by relied on as representing our expectations or beliefs as of any time subsequent to the time this News Release is first issued, and we do not undertake efforts to revise those forward-looking statements to reflect events after that time.
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 $33.3 trillion in assets under custody and administration and $2.7 trillion* in assets under management as of March 31, 2018, State Street operates in more than 100 geographic markets and employs 37,192 worldwide. For more information, visit State Street’s website at www.statestreet.com.
* Assets under management include the assets of the SPDR® Gold ETF and the SPDR® Long Dollar Gold Trust ETF (approximately $36 billion as of March 31, 2018), for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as marketing agent; SSGA FD and State Street Global Advisors are affiliated.