State Street Corporation Submits Supplementary Resolution Plan to the Federal Reserve and Federal Deposit Insurance Corporation
October 04 2016 - 4:15PM
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 StreetState 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.
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
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.
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State Street CorporationAnthony Ostler, +1 617-664-3477orCarolyn
Cichon, +1 617-664-8672
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