STATE STREET CORP (STT) Risk Factors

Recent key developments

Concrete developments — dated events, named agreements and instruments, legal proceedings — that STATE STREET CORP surfaced in its latest filing.

• The Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025 (GENIUS Act) was enacted and implemented.2025
• The Digital Asset Market Clarity Act of 2025 (CLARITY Act) or similar market structure legislation or regulation may be enacted.2025
• In November 2022, State Street determined to no longer pursue its acquisition of Brown Brothers Harriman's Investor Services business announced in September 2021.November 2022
• 2025 acquisition of PriceStats.2025
• 2024 acquisition of CF Global.2024
• 2021 acquisition of Mercatus.2021
• 2018 acquisition of CRD.2018
• The SEC's rule to shorten the standard settlement cycle from T+2 to T+1 became effective in May 2024.May 2024
• State Street observed commercial real estate-related allowance for credit losses of $119 million and $102 million as of December 31, 2025 and 2024, respectively.December 31, 2025
• Between November 2023 and November 2024, Moody's Investors Service had negative outlooks on State Street Bank's long-term issuer and deposit ratings and State Street Corporation's senior unsecured ratings.November 2023 to November 2024
• The 2023 Basel III Endgame Proposal would eliminate advanced approaches in favor of a new standardized expanded risk-based approach with new methodologies for credit, operational, and CVA risk and replace the market risk rule with FRTB.2023
• The 2023 G-SIB Surcharge Proposal would measure the G-SIB surcharge in 0.1% increments instead of 0.5%.2023
• Re-proposal of 2023 Basel III Endgame and G-SIB Surcharge currently expected in March 2026.March 2026
• In 2021, State Street paid a $115 million penalty to the office of the United States Attorney for the District of Massachusetts to resolve potential criminal claims arising from the previously disclosed invoicing matter.2021
• In 2017, State Street entered into a deferred prosecution agreement with the U.S. Department of Justice in connection with the resolution of a transition management matter.2017
• In May 2021, State Street entered into a deferred prosecution agreement with the office of the U.S. Attorney for the District of Massachusetts in connection with the invoicing matter.May 2021
• Four former employees were indicted by U.S. prosecutors on charges of criminal conspiracy in connection with the transition management matter; two pled guilty and a third was convicted in 2018.2018
• State Street is named as defendants in litigation initiated by several U.S. state Attorneys General alleging violations of antitrust laws in the coal industry.
• Past decline of agency lending collateral pools' per-unit market value below $1.00 constant NAV triggered restrictions on cash redemptions.
• Criminal convictions or guilty pleas of three former employees in 2018 related to transition management.2018
• Client invoicing matter announced in late 2015.2015
• Deferred prosecution agreement entered into in early 2017 related to transition management matter.2017
• Related SEC settlement in connection with transition management matter.
• Deferred prosecution agreement entered into in May 2021 related to invoicing matter.May 2021