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.
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180622005332/en/
State Street Corporation
Ilene Fiszel Bieler, +1 617-664-3477
or
Marc
Hazelton, +1 617-513-9439
Source: State Street Corporation