The Banking and Strategy Initiative

Chillin' out till it needs to be funded

State Street Falls

State Street is one of the largest banks which lead in business in custody assets alongwith JP Morgan.

(Unrealised) Losses of 6 billion in Fiixed Income and another 3 billion in conduits, all funds carrying state street prime collateral funds also fell below their $1 par value today. STT mentions its revenues will remain par for the course in 2009 as shares tanked 50% on open.

Assets under custody fell 21 percent in the past year to $12 trillion. Assets under management dropped 27 percent to $1.44 trillion. Total revenues kept a line at $2.7 billion ( up 8% over 2007)

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This entry was posted on January 20, 2009 by in Financial Markets, Meltdown, Uncategorized, US and tagged , .

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