State Street

Trust banks under extra pressure to cut expenses


Bank of New York Mellon, State Street and Northern Trust have even more reason to slash costs than commercial banks because their options to boost revenue are more limited. Problem is, they also have fewer cost-cutting options.


State Street to explore options for asset management arm


The Boston-based firm has been informally working with an adviser to review strategic alternatives for State Street Global Advisors, including a merger with a competitor, people familiar with the matter said.


Fed publishes big-bank capital requirements tied to stress test buffer


Under a rule issued in March, banks will build an additional capital cushion that is determined by their performance in the annual tests.


Bankers come to grips with coronavirus impact


With health organizations warning of a global outbreak, banks are starting to assess the risks to their bottom lines.


CRA overhaul may get messy; Student loans vulnerable in bankruptcy


Fed proposal is at odds with the one offered by the FDIC and OCC; judge wants to dispel the “myth” that student loans can’t be expunged in bankruptcy.


What inspired State Street's digital asset investing venture


The bank sees digital assets as part of the future and "we want to be there when this happens," says Ralph Achkar, head of digital product development and innovation.


Regulators find 'shortcomings' in living wills of six large banks


The Federal Reserve and Federal Deposit Insurance Corp. found issues with the firms' ability to compile data on how they would be unwound during a period of financial stress.