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 July 2015 under Section 165(d) of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

While the Federal Reserve and FDIC noted improvements in our 2015 resolution plan over our prior resolution plans, the regulatory authorities jointly determined that our 2015 resolution plan is not credible or would not facilitate an orderly resolution. We are required to address the deficiencies jointly identified by the Federal Reserve and the FDIC by October 1, 2016. Additional details regarding the Federal Reserve’s and FDIC’s review of our 2015 plan are available at: http://www.federalreserve.gov/newsevents/press/bcreg/20160413a.htm.

Since submitting our resolution plan in July 2015, we have continued to enhance and further develop the plan in anticipation of a 2016 submission. We are committed to addressing the areas outlined by the Federal Reserve and FDIC by October 1, 2016 as required, and continuing to advance our resolution plan as our business and regulatory requirements evolve.

Given our strong financial position and capital ratios, we remain confident in the strength and resiliency of our business.

About State Street CorporationState 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 $28 trillion in assets under custody and administration and $2 trillion* in assets under management as of December 31, 2015, 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 include approximately $22 billion as of December 31, 2015, for which State Street Global Markets, LLC, an affiliate of SSGA, serves as the distribution agent.

Forward-Looking StatementsThis news release contains forward-looking statements as defined by United States securities laws, including statements relating to our goals and expectations regarding our plans to address the deficiencies jointly identified by the Federal Reserve and the FDIC in our 2015 resolution plan. Forward-looking statements are often, but not always, identified by such forward looking terminology as “expect,” “intend,” “plan,” “believe,” “may,”, “will,” “anticipate,” “objective,” “forecast,” “estimate,” “seek,” “trend,” “target,” “outlook,” “strategy” and “goal,” 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 April 13, 2016.

We may not achieve our goals and expectations regarding our plans to address the deficiencies jointly identified by the Federal Reserve and the FDIC with respect to our 2015 resolution plan due to a number of factors, including, but not limited to challenges we may experience in interpreting and addressing regulatory expectations, failure to implement remediation in a timely manner, the complexities of development of a comprehensive plan to resolve a global custodial bank and related costs and dependencies. If we fail to meet regulatory expectations to the satisfaction of the Federal Reserve and the FDIC in our resolution plan submission due on October 1, 2016 or in any future submission, we could be subject to more stringent capital, leverage or liquidity requirements, or restrictions on our growth, activities or operations.

Other 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, April 13, 2016, and we do not undertake efforts to revise those forward-looking statements to reflect events after that date.

State Street CorporationAnthony Ostler, +1 617-664-3477orCarolyn Cichon, +1 617-664-8672

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