State Street Corporation Statement on the Results of Its 2018 Annual Stress Test
June 22 2018 - 9:26AM
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.
Forward-Looking Statements
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20180622005332/en/
State Street CorporationIlene Fiszel Bieler, +1
617-664-3477orMarc Hazelton, +1 617-513-9439
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