basic bank information
State Street Corporation is a commercial bank, specifically a financial services and bank holding company. It is not a state-owned or joint venture bank, but a publicly traded company (NYSE: STT) that is held by public investors.
service scope
Coverage area: Global, operating in many countries, including North America, Europe, Asia, etc., with offices in Boston, Hong Kong, London, Singapore, Sydney, Toronto, Tokyo, São Paulo, Montreal, Dublin, Paris, Dubai, Wellington, Munich, Luxembourg, etc.
number of offline outlets: mainly serving institutional investors, no traditional retail outlets, the specific number of offices is not disclosed
services and products
State Street Corporation provides institutional investors with a comprehensive range of financial services, including:
Investment Management: Asset management, research and advisory services through State Street Global Advisors with $4.715 trillion in assets under management in 2024.
Investment Research and Trading Services: Provides securities research, trading and securities lending services through State Street Global Markets, including the SPDR S&P 500 Trust ETF (the first ETF in 1993).
Investment Services: Provides custody, corporate action, fund accounting, and administration services through State Street Global Services, with $10.2 trillion in middle office assets in 2024.
regulatory and compliance<
ul style="list-style-type: disc" type="disc">which institutions are regulated: Federal Reserve Board, FDIC, etc., and is included in the 2021 Global Systemically Important Banks (G-SIBs) list.
Participation in the Deposit Insurance Program: Yes, deposits of its banking subsidiary, State Street Bank and Trust Company, are insured by the FDIC up to $250,000, but it is mentioned that 91.2% of deposits are uninsured, Indicates that its primary business is not retail deposits.
recent compliance record:
2009: Alleged currency transaction fraud in California (CalPERS, CalSTRS).
2012: Fined $5 million by the Massachusetts Securities Department for failing to disclose short positions.
2017: Paid $64.6 million to settle a U.S. fraud investigation of undisclosed commissions.
2020: Support climate-related disclosure requests.
2025: Criticized by 17 U.S. state attorneys general for Chinese investment disclosure.
financial health
key metrics:
> Capital Adequacy Ratio (CET1): 10.9% (as of December 31, 2024), a decrease of 0.7% from the third quarter of 2023 and 2024, mainly due to increased capital returns and increased risk-weighted assets in the business growth.
Non-performing loan ratio: No specific data was found, but the provision for credit losses in the fourth quarter of 2024 was $12 million, down 40% year-over-year, indicating that the non-performing loan ratio may be lower.
liquidity coverage ratio: 107% (as of Q1 2024), in line with regulatory requirements.
customer service
customer service primarily serves institutional clients through a dedicated support team, including phone, email, and online support, with the Boston Financial Data Service (1973) historically serving shareholders.
security measures
State Street Corporation adheres to standard banking security protocols, including data encryption, fraud detection, and more; Its bank subsidiary deposits are insured by the FDIC, avoiding proprietary transactions to prevent conflicts of interest, and TARP funds were repaid in 2009.
featured services and differentiation<
span style="font-family: sans-serif; color: black" > State Street Corporation is known as a global leader in asset management and custody business, with $4.7 trillion in assets under management and $46.6 trillion in custody and administrative assets in 2024, and is one of the world's largest ETF providers, launching its first ETF (SPDR S&P 500 Trust) in 1993. Features include:
launched the "Intrepid Girl" statue in 2017 to promote the Gender Diversity Index Fund.
focuses on institutional investors, especially large institutional clients such as mutual funds, pension funds, etc.
style="font-family: sans-serif; color: black" > became the first mutual fund custodian bank in the United States (Massachusetts Investors Trust) in 1924.
summary
State Street Corporation is a long-established global financial services and banking holding company founded in 1792 and headquartered in Boston, USA. As a publicly traded company (NYSE: STT), it provides investment services, investment management and investment research and trading services to institutional investors. The company operates globally, focuses on institutional clients, does not provide retail banking services, and therefore does not have a traditional distribution of offline branches or ATMs. State Street Corporation is in good financial health, with a capital adequacy ratio (CET1) of 10.9% (December 31, 2024), a liquidity coverage ratio of 107% (Q1 2024), and a low provision for credit losses, indicating a low non-performing loan ratio. The company provides efficient investment management and trading services to institutional clients through advanced digital platforms such as State Street Alpha, while complying with strict regulatory requirements, including FDIC deposit insurance and standard banking security protocols. State Street Corporation is known for its global leadership in asset management and custody and is an important partner to institutional investors.
