10-Q 1 stt-20210930.htm 10-Q stt-20210930
000009375112-312021Q3FALSE0.000255.903.1080.015.253.5973.71300.000255.353.7090.015.6252.539nonono00000937512021-01-012021-09-300000093751us-gaap:CommonStockMember2021-01-012021-09-300000093751stt:SeriesDPreferredStockDepositoryShareMember2021-01-012021-09-300000093751stt:SeriesGPreferredStockDepositoryShareMember2021-01-012021-09-30xbrli:shares00000937512021-10-20iso4217:USD00000937512021-07-012021-09-3000000937512020-07-012020-09-3000000937512020-01-012020-09-30iso4217:USDxbrli:shares00000937512021-09-3000000937512020-12-310000093751us-gaap:SeriesDPreferredStockMember2020-12-310000093751us-gaap:SeriesDPreferredStockMember2021-09-300000093751us-gaap:SeriesFPreferredStockMember2021-09-300000093751us-gaap:SeriesFPreferredStockMember2020-12-310000093751us-gaap:SeriesGPreferredStockMember2021-09-300000093751us-gaap:SeriesGPreferredStockMember2020-12-310000093751us-gaap:SeriesHPreferredStockMember2020-12-310000093751us-gaap:SeriesHPreferredStockMember2021-09-300000093751us-gaap:PreferredStockMember2019-12-310000093751us-gaap:CommonStockMember2019-12-310000093751us-gaap:AdditionalPaidInCapitalMember2019-12-310000093751us-gaap:RetainedEarningsMember2019-12-310000093751us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-310000093751us-gaap:TreasuryStockMember2019-12-3100000937512019-12-310000093751us-gaap:RetainedEarningsMember2020-01-012020-03-3100000937512020-01-012020-03-310000093751us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-03-310000093751us-gaap:PreferredStockMember2020-01-012020-03-3100000937512020-04-012020-06-300000093751us-gaap:TreasuryStockMember2020-01-012020-03-310000093751us-gaap:AdditionalPaidInCapitalMember2020-01-012020-03-310000093751us-gaap:PreferredStockMember2020-03-310000093751us-gaap:CommonStockMember2020-03-310000093751us-gaap:AdditionalPaidInCapitalMember2020-03-310000093751us-gaap:RetainedEarningsMember2020-03-310000093751us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-03-310000093751us-gaap:TreasuryStockMember2020-03-3100000937512020-03-310000093751us-gaap:RetainedEarningsMember2020-04-012020-06-300000093751us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-04-012020-06-300000093751us-gaap:TreasuryStockMember2020-04-012020-06-300000093751us-gaap:AdditionalPaidInCapitalMember2020-04-012020-06-300000093751us-gaap:PreferredStockMember2020-06-300000093751us-gaap:CommonStockMember2020-06-300000093751us-gaap:AdditionalPaidInCapitalMember2020-06-300000093751us-gaap:RetainedEarningsMember2020-06-300000093751us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-06-300000093751us-gaap:TreasuryStockMember2020-06-3000000937512020-06-300000093751us-gaap:RetainedEarningsMember2020-07-012020-09-300000093751us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-07-012020-09-300000093751us-gaap:AdditionalPaidInCapitalMember2020-07-012020-09-300000093751us-gaap:TreasuryStockMember2020-07-012020-09-300000093751us-gaap:PreferredStockMember2020-09-300000093751us-gaap:CommonStockMember2020-09-300000093751us-gaap:AdditionalPaidInCapitalMember2020-09-300000093751us-gaap:RetainedEarningsMember2020-09-300000093751us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-09-300000093751us-gaap:TreasuryStockMember2020-09-3000000937512020-09-300000093751us-gaap:PreferredStockMember2020-12-310000093751us-gaap:CommonStockMember2020-12-310000093751us-gaap:AdditionalPaidInCapitalMember2020-12-310000093751us-gaap:RetainedEarningsMember2020-12-310000093751us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310000093751us-gaap:TreasuryStockMember2020-12-310000093751us-gaap:RetainedEarningsMember2021-01-012021-03-3100000937512021-01-012021-03-310000093751us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-03-310000093751us-gaap:PreferredStockMember2021-01-012021-03-310000093751us-gaap:TreasuryStockMember2021-01-012021-03-310000093751us-gaap:AdditionalPaidInCapitalMember2021-01-012021-03-310000093751us-gaap:PreferredStockMember2021-03-310000093751us-gaap:CommonStockMember2021-03-310000093751us-gaap:AdditionalPaidInCapitalMember2021-03-310000093751us-gaap:RetainedEarningsMember2021-03-310000093751us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-03-310000093751us-gaap:TreasuryStockMember2021-03-3100000937512021-03-310000093751us-gaap:RetainedEarningsMember2021-04-012021-06-3000000937512021-04-012021-06-300000093751us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-04-012021-06-300000093751us-gaap:TreasuryStockMember2021-04-012021-06-300000093751us-gaap:AdditionalPaidInCapitalMember2021-04-012021-06-300000093751us-gaap:PreferredStockMember2021-06-300000093751us-gaap:CommonStockMember2021-06-300000093751us-gaap:AdditionalPaidInCapitalMember2021-06-300000093751us-gaap:RetainedEarningsMember2021-06-300000093751us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-06-300000093751us-gaap:TreasuryStockMember2021-06-3000000937512021-06-300000093751us-gaap:RetainedEarningsMember2021-07-012021-09-300000093751us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300000093751us-gaap:AdditionalPaidInCapitalMember2021-07-012021-09-300000093751us-gaap:TreasuryStockMember2021-07-012021-09-300000093751us-gaap:PreferredStockMember2021-09-300000093751us-gaap:CommonStockMember2021-09-300000093751us-gaap:AdditionalPaidInCapitalMember2021-09-300000093751us-gaap:RetainedEarningsMember2021-09-300000093751us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-09-300000093751us-gaap:TreasuryStockMember2021-09-300000093751us-gaap:AccountingStandardsUpdate201613Member2020-03-310000093751stt:BBHInvestorServicesMember2021-09-012021-09-300000093751us-gaap:FairValueInputsLevel1Memberus-gaap:USGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-09-300000093751us-gaap:USGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2021-09-300000093751us-gaap:FairValueInputsLevel3Memberus-gaap:USGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-09-300000093751us-gaap:USGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-09-300000093751us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-09-300000093751us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2021-09-300000093751us-gaap:FairValueInputsLevel3Memberus-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-09-300000093751us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-09-300000093751us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherDebtSecuritiesMember2021-09-300000093751us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Member2021-09-300000093751us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherDebtSecuritiesMember2021-09-300000093751us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherDebtSecuritiesMember2021-09-300000093751us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-09-300000093751us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2021-09-300000093751us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-09-300000093751us-gaap:FairValueMeasurementsRecurringMember2021-09-300000093751us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberstt:UsTreasuryAndFederalAgenciesDirectObligationsMember2021-09-300000093751us-gaap:FairValueMeasurementsRecurringMemberstt:UsTreasuryAndFederalAgenciesDirectObligationsMemberus-gaap:FairValueInputsLevel2Member2021-09-300000093751us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberstt:UsTreasuryAndFederalAgenciesDirectObligationsMember2021-09-300000093751us-gaap:FairValueMeasurementsRecurringMemberstt:UsTreasuryAndFederalAgenciesDirectObligationsMember2021-09-300000093751stt:UsTreasuryAndFederalAgenciesMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-09-300000093751stt:UsTreasuryAndFederalAgenciesMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2021-09-300000093751stt:UsTreasuryAndFederalAgenciesMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-09-300000093751stt:UsTreasuryAndFederalAgenciesMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-09-300000093751us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2021-09-300000093751us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueInputsLevel2Member2021-09-300000093751us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2021-09-300000093751us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2021-09-300000093751us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberstt:NonUsDebtSecuritiesMortgageBackedSecuritiesMember2021-09-300000093751us-gaap:FairValueMeasurementsRecurringMemberstt:NonUsDebtSecuritiesMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel2Member2021-09-300000093751us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberstt:NonUsDebtSecuritiesMortgageBackedSecuritiesMember2021-09-300000093751us-gaap:FairValueMeasurementsRecurringMemberstt:NonUsDebtSecuritiesMortgageBackedSecuritiesMember2021-09-300000093751stt:NonUsDebtSecuritiesAssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-09-300000093751stt:NonUsDebtSecuritiesAssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2021-09-300000093751stt:NonUsDebtSecuritiesAssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-09-300000093751stt:NonUsDebtSecuritiesAssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-09-300000093751us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberstt:NonUSDebtSecuritiesForeignSovereignSupranationalAndNonAgencySecuritiesMember2021-09-300000093751us-gaap:FairValueMeasurementsRecurringMemberstt:NonUSDebtSecuritiesForeignSovereignSupranationalAndNonAgencySecuritiesMemberus-gaap:FairValueInputsLevel2Member2021-09-300000093751us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberstt:NonUSDebtSecuritiesForeignSovereignSupranationalAndNonAgencySecuritiesMember2021-09-300000093751us-gaap:FairValueMeasurementsRecurringMemberstt:NonUSDebtSecuritiesForeignSovereignSupranationalAndNonAgencySecuritiesMember2021-09-300000093751us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberstt:NonUsDebtSecuritiesOtherMember2021-09-300000093751us-gaap:FairValueMeasurementsRecurringMemberstt:NonUsDebtSecuritiesOtherMemberus-gaap:FairValueInputsLevel2Member2021-09-300000093751us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberstt:NonUsDebtSecuritiesOtherMember2021-09-300000093751us-gaap:FairValueMeasurementsRecurringMemberstt:NonUsDebtSecuritiesOtherMember2021-09-300000093751us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberstt:NonUSDebtSecuritiesMember2021-09-300000093751us-gaap:FairValueMeasurementsRecurringMemberstt:NonUSDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Member2021-09-300000093751us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberstt:NonUSDebtSecuritiesMember2021-09-300000093751us-gaap:FairValueMeasurementsRecurringMemberstt:NonUSDebtSecuritiesMember2021-09-300000093751us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberstt:AssetBackedSecuritiesStudentLoansMember2021-09-300000093751us-gaap:FairValueMeasurementsRecurringMemberstt:AssetBackedSecuritiesStudentLoansMemberus-gaap:FairValueInputsLevel2Member2021-09-300000093751us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberstt:AssetBackedSecuritiesStudentLoansMember2021-09-300000093751us-gaap:FairValueMeasurementsRecurringMemberstt:AssetBackedSecuritiesStudentLoansMember2021-09-300000093751us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberstt:AssetbackedSecuritiesCollateralizedLoanObligationsMember2021-09-300000093751us-gaap:FairValueMeasurementsRecurringMemberstt:AssetbackedSecuritiesCollateralizedLoanObligationsMemberus-gaap:FairValueInputsLevel2Member2021-09-300000093751us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberstt:AssetbackedSecuritiesCollateralizedLoanObligationsMember2021-09-300000093751us-gaap:FairValueMeasurementsRecurringMemberstt:AssetbackedSecuritiesCollateralizedLoanObligationsMember2021-09-300000093751stt:NonAgencyCMBSAndRMBSMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-09-300000093751stt:NonAgencyCMBSAndRMBSMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2021-09-300000093751us-gaap:FairValueInputsLevel3Memberstt:NonAgencyCMBSAndRMBSMemberus-gaap:FairValueMeasurementsRecurringMember2021-09-300000093751stt:NonAgencyCMBSAndRMBSMemberus-gaap:FairValueMeasurementsRecurringMember2021-09-300000093751us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberstt:AssetBackedSecuritiesOtherMember2021-09-300000093751us-gaap:FairValueMeasurementsRecurringMemberstt:AssetBackedSecuritiesOtherMemberus-gaap:FairValueInputsLevel2Member2021-09-300000093751us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberstt:AssetBackedSecuritiesOtherMember2021-09-300000093751us-gaap:FairValueMeasurementsRecurringMemberstt:AssetBackedSecuritiesOtherMember2021-09-300000093751us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2021-09-300000093751us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel2Member2021-09-300000093751us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2021-09-300000093751us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2021-09-300000093751us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-09-300000093751us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel2Member2021-09-300000093751us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-09-300000093751us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-09-300000093751us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeContractMember2021-09-300000093751us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeContractMemberus-gaap:FairValueInputsLevel2Member2021-09-300000093751us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeContractMember2021-09-300000093751us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeContractMember2021-09-300000093751us-gaap:InterestRateContractMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-09-300000093751us-gaap:InterestRateContractMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2021-09-300000093751us-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateContractMemberus-gaap:FairValueMeasurementsRecurringMember2021-09-300000093751us-gaap:InterestRateContractMemberus-gaap:FairValueMeasurementsRecurringMember2021-09-300000093751us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherCreditDerivativesMember2021-09-300000093751us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherCreditDerivativesMemberus-gaap:FairValueInputsLevel2Member2021-09-300000093751us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherCreditDerivativesMember2021-09-300000093751us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherCreditDerivativesMember2021-09-300000093751us-gaap:FairValueInputsLevel1Memberus-gaap:USGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000093751us-gaap:USGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2020-12-310000093751us-gaap:FairValueInputsLevel3Memberus-gaap:USGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000093751us-gaap:USGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000093751us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000093751us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2020-12-310000093751us-gaap:FairValueInputsLevel3Memberus-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000093751us-gaap:ForeignGovernmentDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000093751us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherDebtSecuritiesMember2020-12-310000093751us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Member2020-12-310000093751us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherDebtSecuritiesMember2020-12-310000093751us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherDebtSecuritiesMember2020-12-310000093751us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000093751us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2020-12-310000093751us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000093751us-gaap:FairValueMeasurementsRecurringMember2020-12-310000093751us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberstt:UsTreasuryAndFederalAgenciesDirectObligationsMember2020-12-310000093751us-gaap:FairValueMeasurementsRecurringMemberstt:UsTreasuryAndFederalAgenciesDirectObligationsMemberus-gaap:FairValueInputsLevel2Member2020-12-310000093751us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberstt:UsTreasuryAndFederalAgenciesDirectObligationsMember2020-12-310000093751us-gaap:FairValueMeasurementsRecurringMemberstt:UsTreasuryAndFederalAgenciesDirectObligationsMember2020-12-310000093751stt:UsTreasuryAndFederalAgenciesMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000093751stt:UsTreasuryAndFederalAgenciesMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2020-12-310000093751stt:UsTreasuryAndFederalAgenciesMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000093751stt:UsTreasuryAndFederalAgenciesMortgageBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000093751us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2020-12-310000093751us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueInputsLevel2Member2020-12-310000093751us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2020-12-310000093751us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2020-12-310000093751us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberstt:NonUsDebtSecuritiesMortgageBackedSecuritiesMember2020-12-310000093751us-gaap:FairValueMeasurementsRecurringMemberstt:NonUsDebtSecuritiesMortgageBackedSecuritiesMemberus-gaap:FairValueInputsLevel2Member2020-12-310000093751us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberstt:NonUsDebtSecuritiesMortgageBackedSecuritiesMember2020-12-310000093751us-gaap:FairValueMeasurementsRecurringMemberstt:NonUsDebtSecuritiesMortgageBackedSecuritiesMember2020-12-310000093751stt:NonUsDebtSecuritiesAssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000093751stt:NonUsDebtSecuritiesAssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2020-12-310000093751stt:NonUsDebtSecuritiesAssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000093751stt:NonUsDebtSecuritiesAssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000093751us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberstt:NonUSDebtSecuritiesForeignSovereignSupranationalAndNonAgencySecuritiesMember2020-12-310000093751us-gaap:FairValueMeasurementsRecurringMemberstt:NonUSDebtSecuritiesForeignSovereignSupranationalAndNonAgencySecuritiesMemberus-gaap:FairValueInputsLevel2Member2020-12-310000093751us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberstt:NonUSDebtSecuritiesForeignSovereignSupranationalAndNonAgencySecuritiesMember2020-12-310000093751us-gaap:FairValueMeasurementsRecurringMemberstt:NonUSDebtSecuritiesForeignSovereignSupranationalAndNonAgencySecuritiesMember2020-12-310000093751us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberstt:NonUsDebtSecuritiesOtherMember2020-12-310000093751us-gaap:FairValueMeasurementsRecurringMemberstt:NonUsDebtSecuritiesOtherMemberus-gaap:FairValueInputsLevel2Member2020-12-310000093751us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberstt:NonUsDebtSecuritiesOtherMember2020-12-310000093751us-gaap:FairValueMeasurementsRecurringMemberstt:NonUsDebtSecuritiesOtherMember2020-12-310000093751us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberstt:NonUSDebtSecuritiesMember2020-12-310000093751us-gaap:FairValueMeasurementsRecurringMemberstt:NonUSDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Member2020-12-310000093751us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberstt:NonUSDebtSecuritiesMember2020-12-310000093751us-gaap:FairValueMeasurementsRecurringMemberstt:NonUSDebtSecuritiesMember2020-12-310000093751us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberstt:AssetBackedSecuritiesStudentLoansMember2020-12-310000093751us-gaap:FairValueMeasurementsRecurringMemberstt:AssetBackedSecuritiesStudentLoansMemberus-gaap:FairValueInputsLevel2Member2020-12-310000093751us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberstt:AssetBackedSecuritiesStudentLoansMember2020-12-310000093751us-gaap:FairValueMeasurementsRecurringMemberstt:AssetBackedSecuritiesStudentLoansMember2020-12-310000093751us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberstt:AssetbackedSecuritiesCollateralizedLoanObligationsMember2020-12-310000093751us-gaap:FairValueMeasurementsRecurringMemberstt:AssetbackedSecuritiesCollateralizedLoanObligationsMemberus-gaap:FairValueInputsLevel2Member2020-12-310000093751us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberstt:AssetbackedSecuritiesCollateralizedLoanObligationsMember2020-12-310000093751us-gaap:FairValueMeasurementsRecurringMemberstt:AssetbackedSecuritiesCollateralizedLoanObligationsMember2020-12-310000093751stt:NonAgencyCMBSAndRMBSMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000093751stt:NonAgencyCMBSAndRMBSMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2020-12-310000093751us-gaap:FairValueInputsLevel3Memberstt:NonAgencyCMBSAndRMBSMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000093751stt:NonAgencyCMBSAndRMBSMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000093751us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberstt:AssetBackedSecuritiesOtherMember2020-12-310000093751us-gaap:FairValueMeasurementsRecurringMemberstt:AssetBackedSecuritiesOtherMemberus-gaap:FairValueInputsLevel2Member2020-12-310000093751us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberstt:AssetBackedSecuritiesOtherMember2020-12-310000093751us-gaap:FairValueMeasurementsRecurringMemberstt:AssetBackedSecuritiesOtherMember2020-12-310000093751us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2020-12-310000093751us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel2Member2020-12-310000093751us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2020-12-310000093751us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2020-12-310000093751us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2020-12-310000093751us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMemberus-gaap:FairValueInputsLevel2Member2020-12-310000093751us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2020-12-310000093751us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2020-12-310000093751us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeContractMember2020-12-310000093751us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeContractMemberus-gaap:FairValueInputsLevel2Member2020-12-310000093751us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeContractMember2020-12-310000093751us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignExchangeContractMember2020-12-310000093751us-gaap:InterestRateContractMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000093751us-gaap:InterestRateContractMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2020-12-310000093751us-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateContractMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000093751us-gaap:InterestRateContractMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000093751us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherDebtSecuritiesMember2020-12-310000093751us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Member2020-12-310000093751us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherDebtSecuritiesMember2020-12-310000093751us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherDebtSecuritiesMember2020-12-310000093751us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherCreditDerivativesMember2020-12-310000093751us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherCreditDerivativesMemberus-gaap:FairValueInputsLevel2Member2020-12-310000093751us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherCreditDerivativesMember2020-12-310000093751us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OtherCreditDerivativesMember2020-12-310000093751us-gaap:ForeignExchangeContractMember2021-06-300000093751us-gaap:ForeignExchangeContractMember2021-07-012021-09-300000093751us-gaap:ForeignExchangeContractMember2021-09-300000093751us-gaap:DerivativeFinancialInstrumentsAssetsMember2021-06-300000093751us-gaap:DerivativeFinancialInstrumentsAssetsMember2021-07-012021-09-300000093751us-gaap:DerivativeFinancialInstrumentsAssetsMember2021-09-300000093751stt:AssetbackedSecuritiesCollateralizedLoanObligationsMember2020-12-310000093751stt:AssetbackedSecuritiesCollateralizedLoanObligationsMember2021-01-012021-09-300000093751stt:AssetbackedSecuritiesCollateralizedLoanObligationsMember2021-09-300000093751us-gaap:AssetBackedSecuritiesMember2020-12-310000093751us-gaap:AssetBackedSecuritiesMember2021-01-012021-09-300000093751us-gaap:AssetBackedSecuritiesMember2021-09-300000093751us-gaap:OtherDebtSecuritiesMember2020-12-310000093751us-gaap:OtherDebtSecuritiesMember2021-01-012021-09-300000093751us-gaap:OtherDebtSecuritiesMember2021-09-300000093751us-gaap:AvailableforsaleSecuritiesMember2020-12-310000093751us-gaap:AvailableforsaleSecuritiesMember2021-01-012021-09-300000093751us-gaap:AvailableforsaleSecuritiesMember2021-09-300000093751us-gaap:ForeignExchangeContractMember2020-12-310000093751us-gaap:ForeignExchangeContractMember2021-01-012021-09-300000093751us-gaap:DerivativeFinancialInstrumentsAssetsMember2020-12-310000093751us-gaap:DerivativeFinancialInstrumentsAssetsMember2021-01-012021-09-300000093751stt:AssetbackedSecuritiesCollateralizedLoanObligationsMember2020-06-300000093751stt:AssetbackedSecuritiesCollateralizedLoanObligationsMember2020-07-012020-09-300000093751stt:AssetbackedSecuritiesCollateralizedLoanObligationsMember2020-09-300000093751us-gaap:AssetBackedSecuritiesMember2020-06-300000093751us-gaap:AssetBackedSecuritiesMember2020-07-012020-09-300000093751us-gaap:AssetBackedSecuritiesMember2020-09-300000093751stt:NonUsDebtSecuritiesAssetBackedSecuritiesMember2020-06-300000093751stt:NonUsDebtSecuritiesAssetBackedSecuritiesMember2020-07-012020-09-300000093751stt:NonUsDebtSecuritiesAssetBackedSecuritiesMember2020-09-300000093751stt:NonUsDebtSecuritiesOtherMember2020-06-300000093751stt:NonUsDebtSecuritiesOtherMember2020-07-012020-09-300000093751stt:NonUsDebtSecuritiesOtherMember2020-09-300000093751stt:NonUSDebtSecuritiesMember2020-06-300000093751stt:NonUSDebtSecuritiesMember2020-07-012020-09-300000093751stt:NonUSDebtSecuritiesMember2020-09-300000093751us-gaap:AvailableforsaleSecuritiesMember2020-06-300000093751us-gaap:AvailableforsaleSecuritiesMember2020-07-012020-09-300000093751us-gaap:AvailableforsaleSecuritiesMember2020-09-300000093751us-gaap:ForeignExchangeContractMember2020-06-300000093751us-gaap:ForeignExchangeContractMember2020-07-012020-09-300000093751us-gaap:ForeignExchangeContractMember2020-09-300000093751us-gaap:DerivativeFinancialInstrumentsAssetsMember2020-06-300000093751us-gaap:DerivativeFinancialInstrumentsAssetsMember2020-07-012020-09-300000093751us-gaap:DerivativeFinancialInstrumentsAssetsMember2020-09-300000093751stt:AssetbackedSecuritiesCollateralizedLoanObligationsMember2019-12-310000093751stt:AssetbackedSecuritiesCollateralizedLoanObligationsMember2020-01-012020-09-300000093751us-gaap:AssetBackedSecuritiesMember2019-12-310000093751us-gaap:AssetBackedSecuritiesMember2020-01-012020-09-300000093751stt:NonUsDebtSecuritiesAssetBackedSecuritiesMember2019-12-310000093751stt:NonUsDebtSecuritiesAssetBackedSecuritiesMember2020-01-012020-09-300000093751stt:NonUsDebtSecuritiesOtherMember2019-12-310000093751stt:NonUsDebtSecuritiesOtherMember2020-01-012020-09-300000093751stt:NonUSDebtSecuritiesMember2019-12-310000093751stt:NonUSDebtSecuritiesMember2020-01-012020-09-300000093751us-gaap:AvailableforsaleSecuritiesMember2019-12-310000093751us-gaap:AvailableforsaleSecuritiesMember2020-01-012020-09-300000093751us-gaap:ForeignExchangeContractMember2019-12-310000093751us-gaap:ForeignExchangeContractMember2020-01-012020-09-300000093751us-gaap:DerivativeFinancialInstrumentsAssetsMember2019-12-310000093751us-gaap:DerivativeFinancialInstrumentsAssetsMember2020-01-012020-09-300000093751us-gaap:FairValueInputsLevel3Memberstt:SignificantUnobservableInputsReadilyAvailableMemberus-gaap:DerivativeFinancialInstrumentsAssetsMember2021-09-300000093751us-gaap:FairValueInputsLevel3Memberstt:SignificantUnobservableInputsReadilyAvailableMemberus-gaap:DerivativeFinancialInstrumentsAssetsMember2020-12-31xbrli:pure0000093751us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputOptionVolatilityMemberus-gaap:DerivativeFinancialInstrumentsAssetsMemberus-gaap:ValuationTechniqueOptionPricingModelMembersrt:MinimumMember2021-09-300000093751us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputOptionVolatilityMemberus-gaap:DerivativeFinancialInstrumentsAssetsMemberus-gaap:ValuationTechniqueOptionPricingModelMembersrt:MaximumMember2021-09-300000093751us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputOptionVolatilityMembersrt:WeightedAverageMemberus-gaap:DerivativeFinancialInstrumentsAssetsMemberus-gaap:ValuationTechniqueOptionPricingModelMember2021-09-300000093751us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputOptionVolatilityMembersrt:WeightedAverageMemberus-gaap:DerivativeFinancialInstrumentsAssetsMemberus-gaap:ValuationTechniqueOptionPricingModelMember2020-12-310000093751stt:SignificantUnobservableInputsReadilyAvailableMemberus-gaap:FairValueInputsLevel3Member2021-09-300000093751stt:SignificantUnobservableInputsReadilyAvailableMemberus-gaap:FairValueInputsLevel3Member2020-12-310000093751us-gaap:FairValueInputsLevel3Memberstt:SignificantUnobservableInputsReadilyAvailableMemberus-gaap:DerivativeFinancialInstrumentsLiabilitiesMember2021-09-300000093751us-gaap:FairValueInputsLevel3Memberstt:SignificantUnobservableInputsReadilyAvailableMemberus-gaap:DerivativeFinancialInstrumentsLiabilitiesMember2020-12-310000093751us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputOptionVolatilityMemberus-gaap:DerivativeFinancialInstrumentsLiabilitiesMemberus-gaap:ValuationTechniqueOptionPricingModelMembersrt:MinimumMember2021-09-300000093751us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputOptionVolatilityMemberus-gaap:DerivativeFinancialInstrumentsLiabilitiesMemberus-gaap:ValuationTechniqueOptionPricingModelMembersrt:MaximumMember2021-09-300000093751us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputOptionVolatilityMembersrt:WeightedAverageMemberus-gaap:DerivativeFinancialInstrumentsLiabilitiesMemberus-gaap:ValuationTechniqueOptionPricingModelMember2021-09-300000093751us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputOptionVolatilityMembersrt:WeightedAverageMemberus-gaap:DerivativeFinancialInstrumentsLiabilitiesMemberus-gaap:ValuationTechniqueOptionPricingModelMember2020-12-310000093751us-gaap:CarryingReportedAmountFairValueDisclosureMember2021-09-300000093751us-gaap:EstimateOfFairValueFairValueDisclosureMember2021-09-300000093751us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel1Member2021-09-300000093751us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2021-09-300000093751us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Member2021-09-300000093751us-gaap:FairValueInputsLevel2Member2021-09-300000093751us-gaap:CarryingReportedAmountFairValueDisclosureMember2020-12-310000093751us-gaap:EstimateOfFairValueFairValueDisclosureMember2020-12-310000093751us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel1Member2020-12-310000093751us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2020-12-310000093751us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Member2020-12-310000093751stt:HeldtoMaturityUnderMMLFMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2020-12-310000093751us-gaap:EstimateOfFairValueFairValueDisclosureMemberstt:HeldtoMaturityUnderMMLFMember2020-12-310000093751us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel1Memberstt:HeldtoMaturityUnderMMLFMember2020-12-310000093751us-gaap:EstimateOfFairValueFairValueDisclosureMemberstt:HeldtoMaturityUnderMMLFMemberus-gaap:FairValueInputsLevel2Member2020-12-310000093751us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Memberstt:HeldtoMaturityUnderMMLFMember2020-12-310000093751stt:ShortTermBorrowingsUnderMMLFMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2020-12-310000093751us-gaap:EstimateOfFairValueFairValueDisclosureMemberstt:ShortTermBorrowingsUnderMMLFMember2020-12-310000093751us-gaap:EstimateOfFairValueFairValueDisclosureMemberstt:ShortTermBorrowingsUnderMMLFMemberus-gaap:FairValueInputsLevel1Member2020-12-310000093751us-gaap:EstimateOfFairValueFairValueDisclosureMemberstt:ShortTermBorrowingsUnderMMLFMemberus-gaap:FairValueInputsLevel2Member2020-12-310000093751us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Memberstt:ShortTermBorrowingsUnderMMLFMember2020-12-310000093751stt:UsTreasuryAndFederalAgenciesDirectObligationsMember2021-09-300000093751stt:UsTreasuryAndFederalAgenciesDirectObligationsMember2020-12-310000093751stt:UsTreasuryAndFederalAgenciesMortgageBackedSecuritiesMember2021-09-300000093751stt:UsTreasuryAndFederalAgenciesMortgageBackedSecuritiesMember2020-12-310000093751us-gaap:USTreasuryAndGovernmentMember2021-09-300000093751us-gaap:USTreasuryAndGovernmentMember2020-12-310000093751stt:NonUsDebtSecuritiesMortgageBackedSecuritiesMember2021-09-300000093751stt:NonUsDebtSecuritiesMortgageBackedSecuritiesMember2020-12-310000093751stt:NonUsDebtSecuritiesAssetBackedSecuritiesMember2021-09-300000093751stt:NonUsDebtSecuritiesAssetBackedSecuritiesMember2020-12-310000093751stt:NonUSDebtSecuritiesForeignSovereignSupranationalAndNonAgencySecuritiesMember2021-09-300000093751stt:NonUSDebtSecuritiesForeignSovereignSupranationalAndNonAgencySecuritiesMember2020-12-310000093751stt:NonUsDebtSecuritiesOtherMember2021-09-300000093751stt:NonUsDebtSecuritiesOtherMember2020-12-310000093751stt:NonUSDebtSecuritiesMember2021-09-300000093751stt:NonUSDebtSecuritiesMember2020-12-310000093751stt:AssetBackedSecuritiesStudentLoansMember2021-09-300000093751stt:AssetBackedSecuritiesStudentLoansMember2020-12-310000093751stt:AssetbackedSecuritiesCollateralizedLoanObligationsMember2021-09-300000093751stt:AssetbackedSecuritiesCollateralizedLoanObligationsMember2020-12-310000093751stt:NonAgencyCMBSAndRMBSMember2021-09-300000093751stt:NonAgencyCMBSAndRMBSMember2020-12-310000093751stt:AssetBackedSecuritiesOtherMember2021-09-300000093751stt:AssetBackedSecuritiesOtherMember2020-12-310000093751us-gaap:AssetBackedSecuritiesMember2021-09-300000093751us-gaap:AssetBackedSecuritiesMember2020-12-310000093751us-gaap:USStatesAndPoliticalSubdivisionsMember2021-09-300000093751us-gaap:USStatesAndPoliticalSubdivisionsMember2020-12-310000093751us-gaap:OtherDebtSecuritiesMember2021-09-300000093751us-gaap:OtherDebtSecuritiesMember2020-12-310000093751stt:TotalBeforeMMLFMember2021-09-300000093751stt:TotalBeforeMMLFMember2020-12-310000093751stt:MoneyMarketLiquidityFacilityMember2021-09-300000093751stt:MoneyMarketLiquidityFacilityMember2020-12-310000093751stt:IncludingMMLFMember2021-09-300000093751stt:IncludingMMLFMember2020-12-310000093751stt:NonUSDebtSecuritiesCorporateBondsMember2021-09-300000093751stt:NonUSDebtSecuritiesCorporateBondsMember2020-12-310000093751stt:NonUSCollateralizedLoanObiligationsMember2021-09-300000093751stt:NonUSCollateralizedLoanObiligationsMember2020-12-310000093751stt:FederalFamilyEducationLoanProgramMember2021-01-012021-09-300000093751stt:USStatesandPoliticalSubdivisionsDebtSecuritiesTrustsMember2021-09-300000093751stt:USStatesandPoliticalSubdivisionsDebtSecuritiesTrustsMember2020-12-310000093751us-gaap:DomesticCorporateDebtSecuritiesMember2021-09-300000093751us-gaap:DomesticCorporateDebtSecuritiesMember2020-12-310000093751stt:NonAgencyCMBSMember2021-09-300000093751stt:NonAgencyCMBSMember2020-12-310000093751stt:NonAgencyRMBSMember2021-09-300000093751stt:NonAgencyRMBSMember2020-12-310000093751stt:TotalHTMandCollateralizedObligationsMember2021-09-300000093751us-gaap:HeldtomaturitySecuritiesMember2021-07-012021-09-30stt:securitystt:loanSegment0000093751stt:CommercialAndFinancialInvestmentFundsMemberus-gaap:GeographicDistributionDomesticMember2021-09-300000093751stt:CommercialAndFinancialInvestmentFundsMemberus-gaap:GeographicDistributionDomesticMember2020-12-310000093751us-gaap:GeographicDistributionDomesticMemberstt:CommercialAndFinancialSeniorSecuredBankLoansMember2021-09-300000093751us-gaap:GeographicDistributionDomesticMemberstt:CommercialAndFinancialSeniorSecuredBankLoansMember2020-12-310000093751us-gaap:GeographicDistributionDomesticMemberstt:OverdraftsMember2021-09-300000093751us-gaap:GeographicDistributionDomesticMemberstt:OverdraftsMember2020-12-310000093751stt:CommercialAndFinancialOtherMemberus-gaap:GeographicDistributionDomesticMember2021-09-300000093751stt:CommercialAndFinancialOtherMemberus-gaap:GeographicDistributionDomesticMember2020-12-310000093751us-gaap:GeographicDistributionDomesticMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-09-300000093751us-gaap:GeographicDistributionDomesticMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-12-310000093751us-gaap:GeographicDistributionDomesticMember2021-09-300000093751us-gaap:GeographicDistributionDomesticMember2020-12-310000093751stt:CommercialAndFinancialInvestmentFundsMemberus-gaap:GeographicDistributionForeignMember2021-09-300000093751stt:CommercialAndFinancialInvestmentFundsMemberus-gaap:GeographicDistributionForeignMember2020-12-310000093751us-gaap:GeographicDistributionForeignMemberstt:CommercialAndFinancialSeniorSecuredBankLoansMember2021-09-300000093751us-gaap:GeographicDistributionForeignMemberstt:CommercialAndFinancialSeniorSecuredBankLoansMember2020-12-310000093751us-gaap:GeographicDistributionForeignMemberstt:OverdraftsMember2021-09-300000093751us-gaap:GeographicDistributionForeignMemberstt:OverdraftsMember2020-12-310000093751us-gaap:GeographicDistributionForeignMemberstt:CommercialAndFinancialOtherMember2021-09-300000093751us-gaap:GeographicDistributionForeignMemberstt:CommercialAndFinancialOtherMember2020-12-310000093751us-gaap:GeographicDistributionForeignMember2021-09-300000093751us-gaap:GeographicDistributionForeignMember2020-12-310000093751stt:CommercialAndFinancialInvestmentFundsMemberus-gaap:GeographicDistributionDomesticMemberstt:A40ActFundsMember2021-09-300000093751stt:CommercialAndFinancialInvestmentFundsMemberus-gaap:GeographicDistributionDomesticMemberstt:PrivateEquityCapitalCallFinanceLoansMember2021-09-300000093751stt:CommercialAndFinancialInvestmentFundsMemberstt:BusinessDevelopmentMemberus-gaap:GeographicDistributionDomesticMember2021-09-300000093751stt:CommercialAndFinancialInvestmentFundsMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:CollateralizedLoanObligationsMember2021-09-300000093751stt:CommercialAndFinancialInvestmentFundsMemberus-gaap:GeographicDistributionDomesticMemberstt:A40ActFundsMember2020-12-310000093751stt:CommercialAndFinancialInvestmentFundsMemberus-gaap:GeographicDistributionDomesticMemberstt:PrivateEquityCapitalCallFinanceLoansMember2020-12-310000093751stt:CommercialAndFinancialInvestmentFundsMemberstt:BusinessDevelopmentMemberus-gaap:GeographicDistributionDomesticMember2020-12-310000093751stt:CommercialAndFinancialOtherMemberstt:SecuritiesFinanceLoansMember2021-09-300000093751stt:CommercialAndFinancialOtherMemberstt:MunicipalLoansMember2021-09-300000093751stt:CommercialAndFinancialOtherMemberstt:OtherLoansMember2021-09-300000093751stt:CommercialAndFinancialOtherMemberstt:SecuritiesFinanceLoansMember2020-12-310000093751stt:CommercialAndFinancialOtherMemberstt:MunicipalLoansMember2020-12-310000093751stt:CommercialAndFinancialOtherMemberstt:OtherLoansMember2020-12-31stt:loan0000093751us-gaap:CollateralizedLoanObligationsMember2021-07-012021-09-300000093751stt:LeveragedLoansMember2021-07-012021-09-300000093751us-gaap:DoubtfulMember2021-09-300000093751stt:CommercialandFinancialPortfolioSegmentMember2021-09-300000093751stt:CommercialandFinancialPortfolioSegmentMemberus-gaap:InternalInvestmentGradeMember2021-09-300000093751us-gaap:InternalInvestmentGradeMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-09-300000093751us-gaap:InternalInvestmentGradeMember2021-09-300000093751stt:CommercialandFinancialPortfolioSegmentMemberstt:SpeculativeMember2021-09-300000093751stt:SpeculativeMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-09-300000093751stt:SpeculativeMember2021-09-300000093751us-gaap:SpecialMentionMemberstt:CommercialandFinancialPortfolioSegmentMember2021-09-300000093751us-gaap:SpecialMentionMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-09-300000093751us-gaap:SpecialMentionMember2021-09-300000093751stt:CommercialandFinancialPortfolioSegmentMemberus-gaap:SubstandardMember2021-09-300000093751us-gaap:SubstandardMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-09-300000093751us-gaap:SubstandardMember2021-09-300000093751us-gaap:DoubtfulMemberstt:CommercialandFinancialPortfolioSegmentMember2021-09-300000093751us-gaap:DoubtfulMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-09-300000093751us-gaap:CommercialRealEstatePortfolioSegmentMember2021-09-300000093751stt:CommercialandFinancialPortfolioSegmentMemberus-gaap:InternalInvestmentGradeMember2020-12-310000093751us-gaap:InternalInvestmentGradeMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-12-310000093751us-gaap:InternalInvestmentGradeMember2020-12-310000093751stt:CommercialandFinancialPortfolioSegmentMemberstt:SpeculativeMember2020-12-310000093751stt:SpeculativeMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-12-310000093751stt:SpeculativeMember2020-12-310000093751us-gaap:SpecialMentionMemberstt:CommercialandFinancialPortfolioSegmentMember2020-12-310000093751us-gaap:SpecialMentionMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-12-310000093751us-gaap:SpecialMentionMember2020-12-310000093751stt:CommercialandFinancialPortfolioSegmentMemberus-gaap:SubstandardMember2020-12-310000093751us-gaap:SubstandardMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-12-310000093751us-gaap:SubstandardMember2020-12-310000093751us-gaap:DoubtfulMemberstt:CommercialandFinancialPortfolioSegmentMember2020-12-310000093751us-gaap:DoubtfulMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-12-310000093751us-gaap:DoubtfulMember2020-12-310000093751stt:CommercialandFinancialPortfolioSegmentMember2020-12-310000093751us-gaap:CommercialRealEstatePortfolioSegmentMember2020-12-310000093751us-gaap:GeographicDistributionDomesticMemberstt:CommercialandFinancialPortfolioSegmentMemberus-gaap:InternalInvestmentGradeMember2021-09-300000093751us-gaap:GeographicDistributionDomesticMemberstt:CommercialandFinancialPortfolioSegmentMemberstt:SpeculativeMember2021-09-300000093751us-gaap:SpecialMentionMemberus-gaap:GeographicDistributionDomesticMemberstt:CommercialandFinancialPortfolioSegmentMember2021-09-300000093751us-gaap:GeographicDistributionDomesticMemberstt:CommercialandFinancialPortfolioSegmentMemberus-gaap:SubstandardMember2021-09-300000093751us-gaap:GeographicDistributionDomesticMemberstt:CommercialandFinancialPortfolioSegmentMember2021-09-300000093751us-gaap:GeographicDistributionDomesticMemberus-gaap:InternalInvestmentGradeMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-09-300000093751us-gaap:GeographicDistributionDomesticMemberstt:SpeculativeMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-09-300000093751us-gaap:SpecialMentionMemberus-gaap:GeographicDistributionDomesticMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2021-09-300000093751us-gaap:GeographicDistributionForeignMemberstt:CommercialandFinancialPortfolioSegmentMemberus-gaap:InternalInvestmentGradeMember2021-09-300000093751us-gaap:GeographicDistributionForeignMemberstt:CommercialandFinancialPortfolioSegmentMemberstt:SpeculativeMember2021-09-300000093751us-gaap:GeographicDistributionForeignMemberstt:CommercialandFinancialPortfolioSegmentMemberus-gaap:SubstandardMember2021-09-300000093751us-gaap:GeographicDistributionForeignMemberus-gaap:DoubtfulMemberstt:CommercialandFinancialPortfolioSegmentMember2021-09-300000093751us-gaap:GeographicDistributionForeignMemberstt:CommercialandFinancialPortfolioSegmentMember2021-09-300000093751us-gaap:GeographicDistributionDomesticMemberstt:CommercialandFinancialPortfolioSegmentMemberus-gaap:InternalInvestmentGradeMember2020-12-310000093751us-gaap:GeographicDistributionDomesticMemberstt:CommercialandFinancialPortfolioSegmentMemberstt:SpeculativeMember2020-12-310000093751us-gaap:SpecialMentionMemberus-gaap:GeographicDistributionDomesticMemberstt:CommercialandFinancialPortfolioSegmentMember2020-12-310000093751us-gaap:GeographicDistributionDomesticMemberstt:CommercialandFinancialPortfolioSegmentMemberus-gaap:SubstandardMember2020-12-310000093751us-gaap:GeographicDistributionDomesticMemberstt:CommercialandFinancialPortfolioSegmentMember2020-12-310000093751us-gaap:GeographicDistributionDomesticMemberus-gaap:InternalInvestmentGradeMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-12-310000093751us-gaap:GeographicDistributionDomesticMemberstt:SpeculativeMemberus-gaap:CommercialRealEstatePortfolioSegmentMember2020-12-310000093751us-gaap:GeographicDistributionForeignMemberstt:CommercialandFinancialPortfolioSegmentMemberus-gaap:InternalInvestmentGradeMember2020-12-310000093751us-gaap:GeographicDistributionForeignMemberstt:CommercialandFinancialPortfolioSegmentMemberstt:SpeculativeMember2020-12-310000093751us-gaap:GeographicDistributionForeignMemberus-gaap:DoubtfulMemberstt:CommercialandFinancialPortfolioSegmentMember2020-12-310000093751us-gaap:GeographicDistributionForeignMemberstt:CommercialandFinancialPortfolioSegmentMember2020-12-3100000937512020-01-012020-12-310000093751us-gaap:FinancialInstitutionsBorrowerMember2021-06-300000093751stt:InstitutionalOtherLoansMember2021-06-300000093751us-gaap:CommercialBorrowerMember2021-06-300000093751us-gaap:HeldtomaturitySecuritiesMember2021-06-300000093751stt:OffBalanceSheetCommitmentsMember2021-06-300000093751stt:AllOtherMember2021-06-300000093751stt:IncludesAllowancesonUnfundedCommitmentsMember2021-06-300000093751us-gaap:FinancialInstitutionsBorrowerMember2021-07-012021-09-300000093751stt:InstitutionalOtherLoansMember2021-07-012021-09-300000093751us-gaap:CommercialBorrowerMember2021-07-012021-09-300000093751stt:OffBalanceSheetCommitmentsMember2021-07-012021-09-300000093751stt:AllOtherMember2021-07-012021-09-300000093751stt:IncludesAllowancesonUnfundedCommitmentsMember2021-07-012021-09-300000093751us-gaap:FinancialInstitutionsBorrowerMember2021-09-300000093751stt:InstitutionalOtherLoansMember2021-09-300000093751us-gaap:CommercialBorrowerMember2021-09-300000093751us-gaap:HeldtomaturitySecuritiesMember2021-09-300000093751stt:OffBalanceSheetCommitmentsMember2021-09-300000093751stt:AllOtherMember2021-09-300000093751stt:IncludesAllowancesonUnfundedCommitmentsMember2021-09-300000093751stt:InstitutionalOtherLoansMemberstt:FundFinanceMember2021-09-300000093751stt:InstitutionalOtherLoansMemberstt:OtherLoansMember2021-09-300000093751us-gaap:FinancialInstitutionsBorrowerMember2020-12-310000093751stt:InstitutionalOtherLoansMember2020-12-310000093751us-gaap:CommercialBorrowerMember2020-12-310000093751us-gaap:HeldtomaturitySecuritiesMember2020-12-310000093751stt:OffBalanceSheetCommitmentsMember2020-12-310000093751stt:AllOtherMember2020-12-310000093751stt:IncludesAllowancesonUnfundedCommitmentsMember2020-12-310000093751us-gaap:FinancialInstitutionsBorrowerMember2021-01-012021-09-300000093751stt:InstitutionalOtherLoansMember2021-01-012021-09-300000093751us-gaap:CommercialBorrowerMember2021-01-012021-09-300000093751us-gaap:HeldtomaturitySecuritiesMember2021-01-012021-09-300000093751stt:OffBalanceSheetCommitmentsMember2021-01-012021-09-300000093751stt:AllOtherMember2021-01-012021-09-300000093751stt:IncludesAllowancesonUnfundedCommitmentsMember2021-01-012021-09-300000093751us-gaap:FinancialInstitutionsBorrowerMember2020-06-300000093751stt:InstitutionalOtherLoansMember2020-06-300000093751us-gaap:CommercialBorrowerMember2020-06-300000093751us-gaap:HeldtomaturitySecuritiesMember2020-06-300000093751stt:OffBalanceSheetCommitmentsMember2020-06-300000093751stt:AllOtherMember2020-06-300000093751stt:IncludesAllowancesonUnfundedCommitmentsMember2020-06-300000093751us-gaap:FinancialInstitutionsBorrowerMember2020-07-012020-09-300000093751stt:InstitutionalOtherLoansMember2020-07-012020-09-300000093751us-gaap:CommercialBorrowerMember2020-07-012020-09-300000093751us-gaap:HeldtomaturitySecuritiesMember2020-07-012020-09-300000093751stt:OffBalanceSheetCommitmentsMember2020-07-012020-09-300000093751stt:AllOtherMember2020-07-012020-09-300000093751stt:IncludesAllowancesonUnfundedCommitmentsMember2020-07-012020-09-300000093751us-gaap:FinancialInstitutionsBorrowerMember2020-09-300000093751stt:InstitutionalOtherLoansMember2020-09-300000093751us-gaap:CommercialBorrowerMember2020-09-300000093751us-gaap:HeldtomaturitySecuritiesMember2020-09-300000093751stt:OffBalanceSheetCommitmentsMember2020-09-300000093751stt:AllOtherMember2020-09-300000093751stt:IncludesAllowancesonUnfundedCommitmentsMember2020-09-300000093751stt:InstitutionalOtherLoansMemberstt:FundFinanceMember2020-09-300000093751stt:InstitutionalOtherLoansMemberstt:OtherLoansMember2020-09-300000093751us-gaap:FinancialInstitutionsBorrowerMember2019-12-310000093751stt:InstitutionalOtherLoansMember2019-12-310000093751us-gaap:CommercialBorrowerMember2019-12-310000093751us-gaap:HeldtomaturitySecuritiesMember2019-12-310000093751stt:OffBalanceSheetCommitmentsMember2019-12-310000093751stt:AllOtherMember2019-12-310000093751stt:IncludesAllowancesonUnfundedCommitmentsMember2019-12-310000093751us-gaap:FinancialInstitutionsBorrowerMember2020-01-012020-09-300000093751stt:InstitutionalOtherLoansMember2020-01-012020-09-300000093751us-gaap:CommercialBorrowerMember2020-01-012020-09-300000093751us-gaap:HeldtomaturitySecuritiesMember2020-01-012020-09-300000093751stt:OffBalanceSheetCommitmentsMember2020-01-012020-09-300000093751stt:AllOtherMember2020-01-012020-09-300000093751stt:IncludesAllowancesonUnfundedCommitmentsMember2020-01-012020-09-300000093751stt:InvestmentServicingMember2019-12-310000093751stt:InvestmentManagementMember2019-12-310000093751stt:InvestmentServicingMember2020-01-012020-12-310000093751stt:InvestmentManagementMember2020-01-012020-12-310000093751stt:InvestmentServicingMember2020-12-310000093751stt:InvestmentManagementMember2020-12-310000093751stt:InvestmentServicingMember2021-01-012021-09-300000093751stt:InvestmentManagementMember2021-01-012021-09-300000093751stt:InvestmentServicingMember2021-09-300000093751stt:InvestmentManagementMember2021-09-30iso4217:EUR0000093751stt:InvestmentServicingMemberstt:FideuramBankLuxembourMember2021-01-012021-03-310000093751stt:MercatusIncMemberstt:InvestmentServicingMember2021-07-012021-09-300000093751us-gaap:CustomerRelationshipsMember2021-09-300000093751us-gaap:TechnologyBasedIntangibleAssetsMember2021-09-300000093751us-gaap:CoreDepositsMember2021-09-300000093751us-gaap:OtherIntangibleAssetsMember2021-09-300000093751us-gaap:CustomerRelationshipsMember2020-12-310000093751us-gaap:TechnologyBasedIntangibleAssetsMember2020-12-310000093751us-gaap:CoreDepositsMember2020-12-310000093751us-gaap:OtherIntangibleAssetsMember2020-12-310000093751us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:FutureMember2021-09-300000093751us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberus-gaap:FutureMember2020-12-310000093751us-gaap:NondesignatedMemberstt:ForwardSwapAndSpotMemberus-gaap:ForeignExchangeContractMember2021-09-300000093751us-gaap:NondesignatedMemberstt:ForwardSwapAndSpotMemberus-gaap:ForeignExchangeContractMember2020-12-310000093751us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMemberstt:OptionsPurchasedMember2021-09-300000093751us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMemberstt:OptionsPurchasedMember2020-12-310000093751us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMemberstt:OptionsWrittenMember2021-09-300000093751us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMemberstt:OptionsWrittenMember2020-12-310000093751us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMemberus-gaap:FutureMember2021-09-300000093751us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMemberus-gaap:FutureMember2020-12-310000093751stt:StableValueContractsMemberus-gaap:OtherContractMemberus-gaap:NondesignatedMember2021-09-300000093751stt:StableValueContractsMemberus-gaap:OtherContractMemberus-gaap:NondesignatedMember2020-12-310000093751us-gaap:OtherContractMemberus-gaap:NondesignatedMemberstt:DeferredValueAwardsMember2021-09-300000093751us-gaap:OtherContractMemberus-gaap:NondesignatedMemberstt:DeferredValueAwardsMember2020-12-310000093751us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:SwapMemberus-gaap:InterestRateContractMember2021-09-300000093751us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:SwapMemberus-gaap:InterestRateContractMember2020-12-310000093751stt:ForwardsMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMember2021-09-300000093751stt:ForwardsMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMember2020-12-310000093751us-gaap:OtherAssetsMemberus-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2021-09-300000093751us-gaap:OtherAssetsMemberus-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2020-12-310000093751us-gaap:OtherLiabilitiesMemberus-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2021-09-300000093751us-gaap:OtherLiabilitiesMemberus-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2020-12-310000093751us-gaap:OtherAssetsMemberus-gaap:OtherContractMemberus-gaap:NondesignatedMember2021-09-300000093751us-gaap:OtherAssetsMemberus-gaap:OtherContractMemberus-gaap:NondesignatedMember2020-12-310000093751us-gaap:OtherLiabilitiesMemberus-gaap:OtherContractMemberus-gaap:NondesignatedMember2021-09-300000093751us-gaap:OtherLiabilitiesMemberus-gaap:OtherContractMemberus-gaap:NondesignatedMember2020-12-310000093751us-gaap:OtherAssetsMemberus-gaap:NondesignatedMember2021-09-300000093751us-gaap:OtherAssetsMemberus-gaap:NondesignatedMember2020-12-310000093751us-gaap:OtherLiabilitiesMemberus-gaap:NondesignatedMember2021-09-300000093751us-gaap:OtherLiabilitiesMemberus-gaap:NondesignatedMember2020-12-310000093751us-gaap:OtherAssetsMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMember2021-09-300000093751us-gaap:OtherAssetsMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeContractMember2020-12-310000093751us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherLiabilitiesMemberus-gaap:ForeignExchangeContractMember2021-09-300000093751us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherLiabilitiesMemberus-gaap:ForeignExchangeContractMember2020-12-310000093751us-gaap:OtherAssetsMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateContractMember2021-09-300000093751us-gaap:OtherAssetsMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateContractMember2020-12-310000093751us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherLiabilitiesMemberus-gaap:InterestRateContractMember2021-09-300000093751us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherLiabilitiesMemberus-gaap:InterestRateContractMember2020-12-310000093751us-gaap:OtherAssetsMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-09-300000093751us-gaap:OtherAssetsMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-12-310000093751us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherLiabilitiesMember2021-09-300000093751us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherLiabilitiesMember2020-12-310000093751us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMemberstt:ForeignExchangeTradingServicesMember2021-07-012021-09-300000093751us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMemberstt:ForeignExchangeTradingServicesMember2020-07-012020-09-300000093751us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMemberstt:ForeignExchangeTradingServicesMember2021-01-012021-09-300000093751us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMemberstt:ForeignExchangeTradingServicesMember2020-01-012020-09-300000093751us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMemberus-gaap:InterestExpenseMember2021-07-012021-09-300000093751us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMemberus-gaap:InterestExpenseMember2020-07-012020-09-300000093751us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMemberus-gaap:InterestExpenseMember2021-01-012021-09-300000093751us-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMemberus-gaap:InterestExpenseMember2020-01-012020-09-300000093751us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberstt:ForeignExchangeTradingServicesMember2021-07-012021-09-300000093751us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberstt:ForeignExchangeTradingServicesMember2020-07-012020-09-300000093751us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberstt:ForeignExchangeTradingServicesMember2021-01-012021-09-300000093751us-gaap:InterestRateContractMemberus-gaap:NondesignatedMemberstt:ForeignExchangeTradingServicesMember2020-01-012020-09-300000093751us-gaap:OtherContractMemberus-gaap:NondesignatedMemberstt:CompensationandEmployeeBenefitsMember2021-07-012021-09-300000093751us-gaap:OtherContractMemberus-gaap:NondesignatedMemberstt:CompensationandEmployeeBenefitsMember2020-07-012020-09-300000093751us-gaap:OtherContractMemberus-gaap:NondesignatedMemberstt:CompensationandEmployeeBenefitsMember2021-01-012021-09-300000093751us-gaap:OtherContractMemberus-gaap:NondesignatedMemberstt:CompensationandEmployeeBenefitsMember2020-01-012020-09-300000093751us-gaap:NondesignatedMember2021-07-012021-09-300000093751us-gaap:NondesignatedMember2020-07-012020-09-300000093751us-gaap:NondesignatedMember2021-01-012021-09-300000093751us-gaap:NondesignatedMember2020-01-012020-09-300000093751us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:LongTermDebtMember2021-09-300000093751us-gaap:NondesignatedMemberus-gaap:LongTermDebtMember2021-09-300000093751us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AvailableforsaleSecuritiesMember2021-09-300000093751us-gaap:NondesignatedMemberus-gaap:AvailableforsaleSecuritiesMember2021-09-300000093751us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:LongTermDebtMember2020-12-310000093751us-gaap:NondesignatedMemberus-gaap:LongTermDebtMember2020-12-310000093751us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AvailableforsaleSecuritiesMember2020-12-310000093751us-gaap:NondesignatedMemberus-gaap:AvailableforsaleSecuritiesMember2020-12-310000093751us-gaap:InterestRateSwapMemberus-gaap:FairValueHedgingMember2021-09-300000093751us-gaap:InterestRateSwapMemberus-gaap:FairValueHedgingMember2020-12-310000093751us-gaap:InterestRateContractMemberus-gaap:AvailableforsaleSecuritiesMemberstt:InterestIncomeNetMember2021-07-012021-09-300000093751us-gaap:InterestRateContractMemberus-gaap:AvailableforsaleSecuritiesMemberstt:InterestIncomeNetMember2020-07-012020-09-300000093751us-gaap:InterestRateContractMemberus-gaap:LongTermDebtMemberstt:InterestIncomeNetMember2021-07-012021-09-300000093751us-gaap:InterestRateContractMemberus-gaap:LongTermDebtMemberstt:InterestIncomeNetMember2020-07-012020-09-300000093751us-gaap:InterestRateContractMemberus-gaap:AvailableforsaleSecuritiesMemberstt:InterestIncomeNetMember2021-01-012021-09-300000093751us-gaap:InterestRateContractMemberus-gaap:AvailableforsaleSecuritiesMemberstt:InterestIncomeNetMember2020-01-012020-09-300000093751us-gaap:InterestRateContractMemberus-gaap:LongTermDebtMemberstt:InterestIncomeNetMember2021-01-012021-09-300000093751us-gaap:InterestRateContractMemberus-gaap:LongTermDebtMemberstt:InterestIncomeNetMember2020-01-012020-09-300000093751us-gaap:InterestRateContractMember2021-07-012021-09-300000093751us-gaap:InterestRateContractMember2020-07-012020-09-300000093751us-gaap:InterestRateContractMemberus-gaap:InterestIncomeMember2021-07-012021-09-300000093751us-gaap:InterestRateContractMemberus-gaap:InterestIncomeMember2020-07-012020-09-300000093751us-gaap:InterestIncomeMemberus-gaap:ForeignExchangeContractMember2021-07-012021-09-300000093751us-gaap:InterestIncomeMemberus-gaap:ForeignExchangeContractMember2020-07-012020-09-300000093751stt:GainsLossesRelatedtoInvestmentSecuritiesNetMemberus-gaap:ForeignExchangeContractMember2021-07-012021-09-300000093751stt:GainsLossesRelatedtoInvestmentSecuritiesNetMemberus-gaap:ForeignExchangeContractMember2020-07-012020-09-300000093751us-gaap:InterestRateContractMember2021-01-012021-09-300000093751us-gaap:InterestRateContractMember2020-01-012020-09-300000093751us-gaap:InterestRateContractMemberus-gaap:InterestIncomeMember2021-01-012021-09-300000093751us-gaap:InterestRateContractMemberus-gaap:InterestIncomeMember2020-01-012020-09-300000093751us-gaap:InterestIncomeMemberus-gaap:ForeignExchangeContractMember2021-01-012021-09-300000093751us-gaap:InterestIncomeMemberus-gaap:ForeignExchangeContractMember2020-01-012020-09-300000093751stt:GainsLossesRelatedtoInvestmentSecuritiesNetMemberus-gaap:ForeignExchangeContractMember2021-01-012021-09-300000093751stt:GainsLossesRelatedtoInvestmentSecuritiesNetMemberus-gaap:ForeignExchangeContractMember2020-01-012020-09-300000093751stt:LIBORIndexedFloatingRateLoansMember2021-01-012021-09-300000093751us-gaap:CreditDefaultSwapMember2021-09-300000093751us-gaap:InterestRateContractMember2021-09-300000093751us-gaap:InterestRateContractMember2020-12-310000093751stt:OtherDerivativeContractsMember2021-09-300000093751stt:OtherDerivativeContractsMember2020-12-310000093751stt:AccruedExpensesAndOtherLiabilitiesMember2021-09-300000093751stt:AccruedExpensesAndOtherLiabilitiesMember2020-12-310000093751us-gaap:MaturityOvernightAndOnDemandMemberus-gaap:USTreasuryAndGovernmentMember2021-09-300000093751us-gaap:MaturityUpTo30DaysMemberus-gaap:USTreasuryAndGovernmentMember2021-09-300000093751us-gaap:Maturity30To90DaysMemberus-gaap:USTreasuryAndGovernmentMember2021-09-300000093751us-gaap:MaturityOver90DaysMemberus-gaap:USTreasuryAndGovernmentMember2021-09-300000093751us-gaap:MaturityOvernightAndOnDemandMemberus-gaap:USTreasuryAndGovernmentMember2020-12-310000093751us-gaap:MaturityUpTo30DaysMemberus-gaap:USTreasuryAndGovernmentMember2020-12-310000093751us-gaap:Maturity30To90DaysMemberus-gaap:USTreasuryAndGovernmentMember2020-12-310000093751us-gaap:MaturityOver90DaysMemberus-gaap:USTreasuryAndGovernmentMember2020-12-310000093751us-gaap:MaturityOvernightAndOnDemandMember2021-09-300000093751us-gaap:MaturityUpTo30DaysMember2021-09-300000093751us-gaap:Maturity30To90DaysMember2021-09-300000093751us-gaap:MaturityOver90DaysMember2021-09-300000093751us-gaap:MaturityOvernightAndOnDemandMember2020-12-310000093751us-gaap:MaturityUpTo30DaysMember2020-12-310000093751us-gaap:Maturity30To90DaysMember2020-12-310000093751us-gaap:MaturityOver90DaysMember2020-12-310000093751us-gaap:MaturityOvernightAndOnDemandMemberus-gaap:CorporateDebtSecuritiesMember2021-09-300000093751us-gaap:CorporateDebtSecuritiesMemberus-gaap:MaturityUpTo30DaysMember2021-09-300000093751us-gaap:Maturity30To90DaysMemberus-gaap:CorporateDebtSecuritiesMember2021-09-300000093751us-gaap:MaturityOver90DaysMemberus-gaap:CorporateDebtSecuritiesMember2021-09-300000093751us-gaap:CorporateDebtSecuritiesMember2021-09-300000093751us-gaap:MaturityOvernightAndOnDemandMemberus-gaap:CorporateDebtSecuritiesMember2020-12-310000093751us-gaap:CorporateDebtSecuritiesMemberus-gaap:MaturityUpTo30DaysMember2020-12-310000093751us-gaap:Maturity30To90DaysMemberus-gaap:CorporateDebtSecuritiesMember2020-12-310000093751us-gaap:MaturityOver90DaysMemberus-gaap:CorporateDebtSecuritiesMember2020-12-310000093751us-gaap:CorporateDebtSecuritiesMember2020-12-310000093751us-gaap:EquitySecuritiesMemberus-gaap:MaturityOvernightAndOnDemandMember2021-09-300000093751us-gaap:EquitySecuritiesMemberus-gaap:MaturityUpTo30DaysMember2021-09-300000093751us-gaap:EquitySecuritiesMemberus-gaap:Maturity30To90DaysMember2021-09-300000093751us-gaap:MaturityOver90DaysMemberus-gaap:EquitySecuritiesMember2021-09-300000093751us-gaap:EquitySecuritiesMember2021-09-300000093751us-gaap:EquitySecuritiesMemberus-gaap:MaturityOvernightAndOnDemandMember2020-12-310000093751us-gaap:EquitySecuritiesMemberus-gaap:MaturityUpTo30DaysMember2020-12-310000093751us-gaap:EquitySecuritiesMemberus-gaap:Maturity30To90DaysMember2020-12-310000093751us-gaap:MaturityOver90DaysMemberus-gaap:EquitySecuritiesMember2020-12-310000093751us-gaap:EquitySecuritiesMember2020-12-310000093751us-gaap:SovereignDebtMemberus-gaap:MaturityOvernightAndOnDemandMember2021-09-300000093751us-gaap:SovereignDebtMemberus-gaap:MaturityUpTo30DaysMember2021-09-300000093751us-gaap:SovereignDebtMemberus-gaap:Maturity30To90DaysMember2021-09-300000093751us-gaap:MaturityOver90DaysMemberus-gaap:SovereignDebtMember2021-09-300000093751us-gaap:SovereignDebtMember2021-09-300000093751us-gaap:SovereignDebtMemberus-gaap:MaturityOvernightAndOnDemandMember2020-12-310000093751us-gaap:SovereignDebtMemberus-gaap:MaturityUpTo30DaysMember2020-12-310000093751us-gaap:SovereignDebtMemberus-gaap:Maturity30To90DaysMember2020-12-310000093751us-gaap:MaturityOver90DaysMemberus-gaap:SovereignDebtMember2020-12-310000093751us-gaap:SovereignDebtMember2020-12-310000093751stt:InvoicingMatterMemberus-gaap:LegalReserveMember2021-09-300000093751stt:InvoicingMatterMemberstt:UnitedStatesAttorneyForTheDistrictOfMassachusettsMember2021-05-012021-05-310000093751stt:InvoicingMatterMemberstt:USSecuritiesAndExchangeCommissionMember2019-06-012019-06-300000093751stt:InvoicingMatterMemberstt:MassachusettsAttorneyGeneralMember2019-06-012019-06-300000093751stt:InvoicingMatterMember2019-06-012019-06-30stt:plaintiff0000093751stt:EdmarVCurrenexMember2021-08-012021-08-310000093751us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2021-09-300000093751us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2020-12-310000093751us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2021-09-300000093751us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2020-12-310000093751stt:SeriesDPreferredStockDepositoryShareMember2014-02-012014-02-280000093751stt:SeriesDPreferredStockDepositoryShareMember2014-02-280000093751us-gaap:SeriesDPreferredStockMember2014-02-280000093751stt:SeriesFPreferredStockDepositoryShareMember2015-05-012015-05-310000093751stt:SeriesFPreferredStockDepositoryShareMember2015-05-310000093751us-gaap:SeriesFPreferredStockMember2015-05-310000093751stt:SeriesGPreferredStockDepositoryShareMember2016-04-012016-04-300000093751stt:SeriesGPreferredStockDepositoryShareMember2016-04-300000093751us-gaap:SeriesGPreferredStockMember2016-04-300000093751stt:SeriesHPreferredStockDepositoryShareMember2018-09-012018-09-300000093751stt:SeriesHPreferredStockDepositoryShareMember2018-09-300000093751us-gaap:SeriesHPreferredStockMember2018-09-300000093751us-gaap:SeriesFPreferredStockMember2021-03-150000093751stt:SeriesFPreferredStockDepositoryShareMember2021-03-150000093751us-gaap:SeriesDPreferredStockMember2021-07-012021-09-300000093751stt:SeriesDPreferredStockDepositoryShareMember2021-07-012021-09-300000093751us-gaap:SeriesDPreferredStockMember2020-07-012020-09-300000093751stt:SeriesDPreferredStockDepositoryShareMember2020-07-012020-09-300000093751us-gaap:SeriesFPreferredStockMember2021-07-012021-09-300000093751stt:SeriesFPreferredStockDepositoryShareMember2021-07-012021-09-300000093751us-gaap:SeriesFPreferredStockMember2020-07-012020-09-300000093751stt:SeriesFPreferredStockDepositoryShareMember2020-07-012020-09-300000093751us-gaap:SeriesGPreferredStockMember2021-07-012021-09-300000093751stt:SeriesGPreferredStockDepositoryShareMember2021-07-012021-09-300000093751us-gaap:SeriesGPreferredStockMember2020-07-012020-09-300000093751stt:SeriesGPreferredStockDepositoryShareMember2020-07-012020-09-300000093751us-gaap:SeriesHPreferredStockMember2021-07-012021-09-300000093751stt:SeriesHPreferredStockDepositoryShareMember2021-07-012021-09-300000093751us-gaap:SeriesHPreferredStockMember2020-07-012020-09-300000093751stt:SeriesHPreferredStockDepositoryShareMember2020-07-012020-09-300000093751us-gaap:SeriesCPreferredStockMember2021-01-012021-09-300000093751stt:SeriesCPreferredStockDepositoryShareMember2021-01-012021-09-300000093751us-gaap:SeriesCPreferredStockMember2020-01-012020-09-300000093751stt:SeriesCPreferredStockDepositoryShareMember2020-01-012020-09-300000093751us-gaap:SeriesDPreferredStockMember2021-01-012021-09-300000093751us-gaap:SeriesDPreferredStockMember2020-01-012020-09-300000093751stt:SeriesDPreferredStockDepositoryShareMember2020-01-012020-09-300000093751us-gaap:SeriesFPreferredStockMember2021-01-012021-09-300000093751stt:SeriesFPreferredStockDepositoryShareMember2021-01-012021-09-300000093751us-gaap:SeriesFPreferredStockMember2020-01-012020-09-300000093751stt:SeriesFPreferredStockDepositoryShareMember2020-01-012020-09-300000093751us-gaap:SeriesGPreferredStockMember2021-01-012021-09-300000093751us-gaap:SeriesGPreferredStockMember2020-01-012020-09-300000093751stt:SeriesGPreferredStockDepositoryShareMember2020-01-012020-09-300000093751us-gaap:SeriesHPreferredStockMember2021-01-012021-09-300000093751stt:SeriesHPreferredStockDepositoryShareMember2021-01-012021-09-300000093751us-gaap:SeriesHPreferredStockMember2020-01-012020-09-300000093751stt:SeriesHPreferredStockDepositoryShareMember2020-01-012020-09-300000093751us-gaap:SeriesDPreferredStockMembersrt:ScenarioForecastMemberus-gaap:SubsequentEventMember2021-10-012021-10-310000093751us-gaap:SeriesFPreferredStockMembersrt:ScenarioForecastMemberus-gaap:SubsequentEventMember2021-10-012021-10-310000093751srt:ScenarioForecastMemberus-gaap:SeriesGPreferredStockMemberus-gaap:SubsequentEventMember2021-10-012021-10-310000093751us-gaap:SeriesHPreferredStockMembersrt:ScenarioForecastMemberus-gaap:SubsequentEventMember2021-10-012021-10-310000093751srt:ScenarioForecastMemberstt:SeriesDPreferredStockDepositoryShareMemberus-gaap:SubsequentEventMember2021-10-012021-10-310000093751srt:ScenarioForecastMemberstt:SeriesFPreferredStockDepositoryShareMemberus-gaap:SubsequentEventMember2021-10-012021-10-310000093751srt:ScenarioForecastMemberstt:SeriesGPreferredStockDepositoryShareMemberus-gaap:SubsequentEventMember2021-10-012021-10-310000093751stt:SeriesHPreferredStockDepositoryShareMembersrt:ScenarioForecastMemberus-gaap:SubsequentEventMember2021-10-012021-10-310000093751us-gaap:CommonStockMember2021-09-012021-09-300000093751us-gaap:CommonStockMember2021-09-3000000937512021-09-012021-09-3000000937512019-06-300000093751stt:TwoThousandandNineteenShareRepurchaseProgramMember2020-01-012020-03-310000093751stt:TwoThousandandNineteenShareRepurchaseProgramMember2019-10-012019-12-310000093751stt:TwoThousandandNineteenShareRepurchaseProgramMember2019-07-012019-09-3000000937512021-01-3100000937512021-04-3000000937512021-07-310000093751stt:TwoThousandandNineteenShareRepurchaseProgramMember2021-07-012021-09-300000093751stt:TwoThousandandNineteenShareRepurchaseProgramMember2021-01-012021-09-300000093751stt:TwoThousandandNineteenShareRepurchaseProgramMember2020-07-012020-09-300000093751stt:TwoThousandandNineteenShareRepurchaseProgramMember2020-01-012020-09-300000093751us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-12-310000093751us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-12-310000093751stt:AccumulatedNetUnrealizedGainLossOnNetInvestmentHedgingMember2020-12-310000093751us-gaap:AccumulatedOtherThanTemporaryImpairmentMember2020-12-310000093751us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-12-310000093751us-gaap:AccumulatedTranslationAdjustmentMember2020-12-310000093751us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-01-012021-09-300000093751us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-01-012021-09-300000093751stt:AccumulatedNetUnrealizedGainLossOnNetInvestmentHedgingMember2021-01-012021-09-300000093751us-gaap:AccumulatedOtherThanTemporaryImpairmentMember2021-01-012021-09-300000093751us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-01-012021-09-300000093751us-gaap:AccumulatedTranslationAdjustmentMember2021-01-012021-09-300000093751us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-09-300000093751us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-09-300000093751stt:AccumulatedNetUnrealizedGainLossOnNetInvestmentHedgingMember2021-09-300000093751us-gaap:AccumulatedOtherThanTemporaryImpairmentMember2021-09-300000093751us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-09-300000093751us-gaap:AccumulatedTranslationAdjustmentMember2021-09-300000093751us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2019-12-310000093751us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-12-310000093751stt:AccumulatedNetUnrealizedGainLossOnNetInvestmentHedgingMember2019-12-310000093751us-gaap:AccumulatedOtherThanTemporaryImpairmentMember2019-12-310000093751us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2019-12-310000093751us-gaap:AccumulatedTranslationAdjustmentMember2019-12-310000093751us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-01-012020-09-300000093751us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-01-012020-09-300000093751stt:AccumulatedNetUnrealizedGainLossOnNetInvestmentHedgingMember2020-01-012020-09-300000093751us-gaap:AccumulatedOtherThanTemporaryImpairmentMember2020-01-012020-09-300000093751us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-01-012020-09-300000093751us-gaap:AccumulatedTranslationAdjustmentMember2020-01-012020-09-300000093751us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-09-300000093751us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-09-300000093751stt:AccumulatedNetUnrealizedGainLossOnNetInvestmentHedgingMember2020-09-300000093751us-gaap:AccumulatedOtherThanTemporaryImpairmentMember2020-09-300000093751us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-09-300000093751us-gaap:AccumulatedTranslationAdjustmentMember2020-09-300000093751us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300000093751us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-07-012020-09-300000093751us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-07-012021-09-300000093751us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-07-012020-09-300000093751us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300000093751us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-07-012020-09-300000093751us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-01-012021-09-300000093751us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-01-012020-09-300000093751us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-09-300000093751us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-01-012020-09-300000093751us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-01-012021-09-300000093751us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-01-012020-09-300000093751us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-09-300000093751us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-01-012020-09-300000093751us-gaap:SeriesDPreferredStockMember2014-02-012014-02-280000093751us-gaap:SeriesDPreferredStockMembersrt:ScenarioForecastMember2014-02-012024-03-140000093751us-gaap:SeriesDPreferredStockMembersrt:ScenarioForecastMemberus-gaap:LondonInterbankOfferedRateLIBORMember2024-03-152024-03-150000093751us-gaap:SeriesFPreferredStockMember2015-05-012015-05-310000093751us-gaap:SeriesFPreferredStockMember2015-05-012020-09-140000093751us-gaap:SeriesFPreferredStockMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-09-152021-09-140000093751us-gaap:SeriesFPreferredStockMemberus-gaap:LondonInterbankOfferedRateLIBORMember2021-09-152021-09-300000093751us-gaap:SeriesGPreferredStockMember2016-04-012016-04-300000093751srt:ScenarioForecastMemberus-gaap:SeriesGPreferredStockMember2016-04-012026-03-140000093751srt:ScenarioForecastMemberus-gaap:SeriesGPreferredStockMemberus-gaap:LondonInterbankOfferedRateLIBORMember2026-03-152026-03-150000093751us-gaap:SeriesHPreferredStockMember2018-09-012018-09-300000093751us-gaap:SeriesHPreferredStockMembersrt:ScenarioForecastMember2018-09-012023-12-140000093751us-gaap:SeriesHPreferredStockMembersrt:ScenarioForecastMemberus-gaap:LondonInterbankOfferedRateLIBORMember2023-12-152023-12-150000093751stt:TwoThousandandNineteenShareRepurchaseProgramMember2020-10-012020-12-310000093751stt:TwoThousandandNineteenShareRepurchaseProgramMember2020-04-012020-06-300000093751stt:BaselIIIAdvancedApproachMember2021-09-300000093751stt:BaselIIIstandardizedApproachMember2021-09-300000093751stt:BaselIIIAdvancedApproachMember2020-12-310000093751stt:BaselIIIstandardizedApproachMember2020-12-310000093751stt:BaselIIIAdvancedApproachMembersrt:SubsidiariesMember2021-09-300000093751srt:SubsidiariesMemberstt:BaselIIIstandardizedApproachMember2021-09-300000093751stt:BaselIIIAdvancedApproachMembersrt:SubsidiariesMember2020-12-310000093751srt:SubsidiariesMemberstt:BaselIIIstandardizedApproachMember2020-12-310000093751stt:CharlesRiverDevelopmentMember2021-07-012021-09-300000093751stt:CharlesRiverDevelopmentMember2021-01-012021-09-300000093751stt:CharlesRiverDevelopmentMember2020-07-012020-09-300000093751stt:CharlesRiverDevelopmentMember2020-01-012020-09-300000093751stt:BBHInvestorServicesMember2021-07-012021-09-300000093751us-gaap:EmployeeSeveranceMember2019-12-310000093751us-gaap:FacilityClosingMember2019-12-310000093751stt:AssetsAndOtherWriteOffsMember2019-12-310000093751us-gaap:EmployeeSeveranceMember2020-01-012020-03-310000093751us-gaap:FacilityClosingMember2020-01-012020-03-310000093751stt:AssetsAndOtherWriteOffsMember2020-01-012020-03-310000093751us-gaap:EmployeeSeveranceMember2020-03-310000093751us-gaap:FacilityClosingMember2020-03-310000093751stt:AssetsAndOtherWriteOffsMember2020-03-310000093751us-gaap:EmployeeSeveranceMember2020-04-012020-06-300000093751us-gaap:FacilityClosingMember2020-04-012020-06-300000093751stt:AssetsAndOtherWriteOffsMember2020-04-012020-06-300000093751us-gaap:EmployeeSeveranceMember2020-06-300000093751us-gaap:FacilityClosingMember2020-06-300000093751stt:AssetsAndOtherWriteOffsMember2020-06-300000093751us-gaap:EmployeeSeveranceMember2020-07-012020-09-300000093751us-gaap:FacilityClosingMember2020-07-012020-09-300000093751stt:AssetsAndOtherWriteOffsMember2020-07-012020-09-300000093751us-gaap:EmployeeSeveranceMember2020-09-300000093751us-gaap:FacilityClosingMember2020-09-300000093751stt:AssetsAndOtherWriteOffsMember2020-09-300000093751us-gaap:EmployeeSeveranceMember2020-12-310000093751us-gaap:FacilityClosingMember2020-12-310000093751stt:AssetsAndOtherWriteOffsMember2020-12-310000093751us-gaap:EmployeeSeveranceMemberstt:StateStreetBeaconMember2021-01-012021-03-310000093751us-gaap:FacilityClosingMemberstt:StateStreetBeaconMember2021-01-012021-03-310000093751stt:AssetsAndOtherWriteOffsMemberstt:StateStreetBeaconMember2021-01-012021-03-310000093751stt:StateStreetBeaconMember2021-01-012021-03-310000093751us-gaap:EmployeeSeveranceMember2021-01-012021-03-310000093751us-gaap:FacilityClosingMember2021-01-012021-03-310000093751stt:AssetsAndOtherWriteOffsMember2021-01-012021-03-310000093751us-gaap:EmployeeSeveranceMember2021-03-310000093751us-gaap:FacilityClosingMember2021-03-310000093751stt:AssetsAndOtherWriteOffsMember2021-03-310000093751us-gaap:EmployeeSeveranceMember2021-04-012021-06-300000093751us-gaap:FacilityClosingMember2021-04-012021-06-300000093751stt:AssetsAndOtherWriteOffsMember2021-04-012021-06-300000093751us-gaap:EmployeeSeveranceMember2021-06-300000093751us-gaap:FacilityClosingMember2021-06-300000093751stt:AssetsAndOtherWriteOffsMember2021-06-300000093751us-gaap:EmployeeSeveranceMember2021-07-012021-09-300000093751us-gaap:FacilityClosingMember2021-07-012021-09-300000093751stt:AssetsAndOtherWriteOffsMember2021-07-012021-09-300000093751us-gaap:EmployeeSeveranceMember2021-09-300000093751us-gaap:FacilityClosingMember2021-09-300000093751stt:AssetsAndOtherWriteOffsMember2021-09-30stt:segment0000093751us-gaap:OperatingSegmentsMemberstt:InvestmentServicingMember2021-07-012021-09-300000093751us-gaap:OperatingSegmentsMemberstt:InvestmentServicingMember2020-07-012020-09-300000093751stt:InvestmentManagementMemberus-gaap:OperatingSegmentsMember2021-07-012021-09-300000093751stt:InvestmentManagementMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000093751us-gaap:MaterialReconcilingItemsMember2021-07-012021-09-300000093751us-gaap:MaterialReconcilingItemsMember2020-07-012020-09-300000093751us-gaap:OperatingSegmentsMemberstt:InvestmentServicingMember2021-01-012021-09-300000093751us-gaap:OperatingSegmentsMemberstt:InvestmentServicingMember2020-01-012020-09-300000093751stt:InvestmentManagementMemberus-gaap:OperatingSegmentsMember2021-01-012021-09-300000093751stt:InvestmentManagementMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300000093751us-gaap:MaterialReconcilingItemsMember2021-01-012021-09-300000093751us-gaap:MaterialReconcilingItemsMember2020-01-012020-09-30stt:line_of_business0000093751us-gaap:OperatingSegmentsMemberstt:InvestmentServicingMemberstt:AccountServicingMember2021-07-012021-09-300000093751stt:InvestmentManagementMemberus-gaap:OperatingSegmentsMemberstt:AccountServicingMember2021-07-012021-09-300000093751us-gaap:MaterialReconcilingItemsMemberstt:AccountServicingMember2021-07-012021-09-300000093751us-gaap:OperatingSegmentsMemberstt:InvestmentServicingMemberstt:ManagementServicesMember2021-07-012021-09-300000093751stt:InvestmentManagementMemberus-gaap:OperatingSegmentsMemberstt:ManagementServicesMember2021-07-012021-09-300000093751us-gaap:MaterialReconcilingItemsMemberstt:ManagementServicesMember2021-07-012021-09-300000093751us-gaap:OperatingSegmentsMemberstt:InvestmentServicingMemberstt:ForeignExchangeTradingServicesMember2021-07-012021-09-300000093751stt:InvestmentManagementMemberus-gaap:OperatingSegmentsMemberstt:ForeignExchangeTradingServicesMember2021-07-012021-09-300000093751stt:ForeignExchangeTradingServicesMemberus-gaap:MaterialReconcilingItemsMember2021-07-012021-09-300000093751stt:SecuritiesFinancingServicesMemberus-gaap:OperatingSegmentsMemberstt:InvestmentServicingMember2021-07-012021-09-300000093751stt:InvestmentManagementMemberstt:SecuritiesFinancingServicesMemberus-gaap:OperatingSegmentsMember2021-07-012021-09-300000093751stt:SecuritiesFinancingServicesMemberus-gaap:MaterialReconcilingItemsMember2021-07-012021-09-300000093751stt:ProcessingServicesandOtherMemberus-gaap:OperatingSegmentsMemberstt:InvestmentServicingMember2021-07-012021-09-300000093751stt:InvestmentManagementMemberstt:ProcessingServicesandOtherMemberus-gaap:OperatingSegmentsMember2021-07-012021-09-300000093751stt:ProcessingServicesandOtherMemberus-gaap:MaterialReconcilingItemsMember2021-07-012021-09-300000093751stt:RevenueFromFeesMemberus-gaap:OperatingSegmentsMemberstt:InvestmentServicingMember2021-07-012021-09-300000093751stt:InvestmentManagementMemberstt:RevenueFromFeesMemberus-gaap:OperatingSegmentsMember2021-07-012021-09-300000093751stt:RevenueFromFeesMemberus-gaap:MaterialReconcilingItemsMember2021-07-012021-09-300000093751us-gaap:OperatingSegmentsMemberstt:InvestmentServicingMemberstt:InterestIncomeNetMember2021-07-012021-09-300000093751stt:InvestmentManagementMemberus-gaap:OperatingSegmentsMemberstt:InterestIncomeNetMember2021-07-012021-09-300000093751us-gaap:MaterialReconcilingItemsMemberstt:InterestIncomeNetMember2021-07-012021-09-300000093751stt:TotalOtherIncomeMemberus-gaap:OperatingSegmentsMemberstt:InvestmentServicingMember2021-07-012021-09-300000093751stt:InvestmentManagementMemberstt:TotalOtherIncomeMemberus-gaap:OperatingSegmentsMember2021-07-012021-09-300000093751stt:TotalOtherIncomeMemberus-gaap:MaterialReconcilingItemsMember2021-07-012021-09-300000093751us-gaap:OperatingSegmentsMemberstt:InvestmentServicingMemberstt:AccountServicingMember2021-01-012021-09-300000093751stt:InvestmentManagementMemberus-gaap:OperatingSegmentsMemberstt:AccountServicingMember2021-01-012021-09-300000093751us-gaap:MaterialReconcilingItemsMemberstt:AccountServicingMember2021-01-012021-09-300000093751us-gaap:OperatingSegmentsMemberstt:InvestmentServicingMemberstt:ManagementServicesMember2021-01-012021-09-300000093751stt:InvestmentManagementMemberus-gaap:OperatingSegmentsMemberstt:ManagementServicesMember2021-01-012021-09-300000093751us-gaap:MaterialReconcilingItemsMemberstt:ManagementServicesMember2021-01-012021-09-300000093751us-gaap:OperatingSegmentsMemberstt:InvestmentServicingMemberstt:ForeignExchangeTradingServicesMember2021-01-012021-09-300000093751stt:InvestmentManagementMemberus-gaap:OperatingSegmentsMemberstt:ForeignExchangeTradingServicesMember2021-01-012021-09-300000093751stt:ForeignExchangeTradingServicesMemberus-gaap:MaterialReconcilingItemsMember2021-01-012021-09-300000093751stt:SecuritiesFinancingServicesMemberus-gaap:OperatingSegmentsMemberstt:InvestmentServicingMember2021-01-012021-09-300000093751stt:InvestmentManagementMemberstt:SecuritiesFinancingServicesMemberus-gaap:OperatingSegmentsMember2021-01-012021-09-300000093751stt:SecuritiesFinancingServicesMemberus-gaap:MaterialReconcilingItemsMember2021-01-012021-09-300000093751stt:ProcessingServicesandOtherMemberus-gaap:OperatingSegmentsMemberstt:InvestmentServicingMember2021-01-012021-09-300000093751stt:InvestmentManagementMemberstt:ProcessingServicesandOtherMemberus-gaap:OperatingSegmentsMember2021-01-012021-09-300000093751stt:ProcessingServicesandOtherMemberus-gaap:MaterialReconcilingItemsMember2021-01-012021-09-300000093751stt:RevenueFromFeesMemberus-gaap:OperatingSegmentsMemberstt:InvestmentServicingMember2021-01-012021-09-300000093751stt:InvestmentManagementMemberstt:RevenueFromFeesMemberus-gaap:OperatingSegmentsMember2021-01-012021-09-300000093751stt:RevenueFromFeesMemberus-gaap:MaterialReconcilingItemsMember2021-01-012021-09-300000093751us-gaap:OperatingSegmentsMemberstt:InvestmentServicingMemberstt:InterestIncomeNetMember2021-01-012021-09-300000093751stt:InvestmentManagementMemberus-gaap:OperatingSegmentsMemberstt:InterestIncomeNetMember2021-01-012021-09-300000093751us-gaap:MaterialReconcilingItemsMemberstt:InterestIncomeNetMember2021-01-012021-09-300000093751stt:TotalOtherIncomeMemberus-gaap:OperatingSegmentsMemberstt:InvestmentServicingMember2021-01-012021-09-300000093751stt:InvestmentManagementMemberstt:TotalOtherIncomeMemberus-gaap:OperatingSegmentsMember2021-01-012021-09-300000093751stt:TotalOtherIncomeMemberus-gaap:MaterialReconcilingItemsMember2021-01-012021-09-300000093751us-gaap:OperatingSegmentsMemberstt:InvestmentServicingMemberstt:AccountServicingMember2020-07-012020-09-300000093751stt:InvestmentManagementMemberus-gaap:OperatingSegmentsMemberstt:AccountServicingMember2020-07-012020-09-300000093751us-gaap:OperatingSegmentsMemberstt:InvestmentServicingMemberstt:ManagementServicesMember2020-07-012020-09-300000093751stt:InvestmentManagementMemberus-gaap:OperatingSegmentsMemberstt:ManagementServicesMember2020-07-012020-09-300000093751us-gaap:OperatingSegmentsMemberstt:InvestmentServicingMemberstt:ForeignExchangeTradingServicesMember2020-07-012020-09-300000093751stt:InvestmentManagementMemberus-gaap:OperatingSegmentsMemberstt:ForeignExchangeTradingServicesMember2020-07-012020-09-300000093751stt:SecuritiesFinancingServicesMemberus-gaap:OperatingSegmentsMemberstt:InvestmentServicingMember2020-07-012020-09-300000093751stt:InvestmentManagementMemberstt:SecuritiesFinancingServicesMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000093751stt:ProcessingServicesandOtherMemberus-gaap:OperatingSegmentsMemberstt:InvestmentServicingMember2020-07-012020-09-300000093751stt:InvestmentManagementMemberstt:ProcessingServicesandOtherMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000093751stt:RevenueFromFeesMemberus-gaap:OperatingSegmentsMemberstt:InvestmentServicingMember2020-07-012020-09-300000093751stt:InvestmentManagementMemberstt:RevenueFromFeesMemberus-gaap:OperatingSegmentsMember2020-07-012020-09-300000093751us-gaap:OperatingSegmentsMemberstt:InvestmentServicingMemberstt:InterestIncomeNetMember2020-07-012020-09-300000093751stt:InvestmentManagementMemberus-gaap:OperatingSegmentsMemberstt:InterestIncomeNetMember2020-07-012020-09-300000093751us-gaap:OperatingSegmentsMemberstt:InvestmentServicingMemberstt:AccountServicingMember2020-01-012020-09-300000093751stt:InvestmentManagementMemberus-gaap:OperatingSegmentsMemberstt:AccountServicingMember2020-01-012020-09-300000093751us-gaap:OperatingSegmentsMemberstt:InvestmentServicingMemberstt:ManagementServicesMember2020-01-012020-09-300000093751stt:InvestmentManagementMemberus-gaap:OperatingSegmentsMemberstt:ManagementServicesMember2020-01-012020-09-300000093751us-gaap:OperatingSegmentsMemberstt:InvestmentServicingMemberstt:ForeignExchangeTradingServicesMember2020-01-012020-09-300000093751stt:InvestmentManagementMemberus-gaap:OperatingSegmentsMemberstt:ForeignExchangeTradingServicesMember2020-01-012020-09-300000093751stt:SecuritiesFinancingServicesMemberus-gaap:OperatingSegmentsMemberstt:InvestmentServicingMember2020-01-012020-09-300000093751stt:InvestmentManagementMemberstt:SecuritiesFinancingServicesMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300000093751stt:ProcessingServicesandOtherMemberus-gaap:OperatingSegmentsMemberstt:InvestmentServicingMember2020-01-012020-09-300000093751stt:InvestmentManagementMemberstt:ProcessingServicesandOtherMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300000093751stt:RevenueFromFeesMemberus-gaap:OperatingSegmentsMemberstt:InvestmentServicingMember2020-01-012020-09-300000093751stt:InvestmentManagementMemberstt:RevenueFromFeesMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300000093751us-gaap:OperatingSegmentsMemberstt:InvestmentServicingMemberstt:InterestIncomeNetMember2020-01-012020-09-300000093751stt:InvestmentManagementMemberus-gaap:OperatingSegmentsMemberstt:InterestIncomeNetMember2020-01-012020-09-300000093751stt:TotalOtherIncomeMemberus-gaap:OperatingSegmentsMemberstt:InvestmentServicingMember2020-01-012020-09-300000093751stt:InvestmentManagementMemberstt:TotalOtherIncomeMemberus-gaap:OperatingSegmentsMember2020-01-012020-09-300000093751stt:AccruedInterestandFeesReceivableMember2021-09-300000093751stt:AccruedInterestandFeesReceivableMember2020-12-310000093751us-gaap:NonUsMember2021-07-012021-09-300000093751country:US2021-07-012021-09-300000093751us-gaap:NonUsMember2020-07-012020-09-300000093751country:US2020-07-012020-09-300000093751us-gaap:NonUsMember2021-01-012021-09-300000093751country:US2021-01-012021-09-300000093751us-gaap:NonUsMember2020-01-012020-09-300000093751country:US2020-01-012020-09-300000093751us-gaap:NonUsMember2021-09-300000093751us-gaap:NonUsMember2020-12-31

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form 10-Q
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2021
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from                      to                     
Commission File No. 001-07511
STATE STREET CORPORATION
(Exact name of registrant as specified in its charter)
MA
04-2456637
(State or other jurisdiction of incorporation)(I.R.S. Employer Identification No.)
One Lincoln Street
Boston,
MA
02111
(Address of principal executive offices)(Zip Code)
(617)
786-3000
(Registrant's telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of Each ClassTrading Symbol(s)Name of each exchange on which registered
Common Stock, $1 par value per share
STT
New York Stock Exchange
Depositary Shares, each representing a 1/4,000th ownership interest in a share of
STT.PRD
New York Stock Exchange
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D, without par value per share
Depositary Shares, each representing a 1/4,000th ownership interest in a share of
STT.PRG
New York Stock Exchange
Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series G, without par value per share


Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days.  Yes     No 
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).  Yes     No 
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer", "accelerated filer", "smaller reporting company", and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filerAccelerated filer Non-accelerated filer  Smaller reporting company 
Emerging growth company 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  Yes    No  
The number of shares of the registrant’s common stock outstanding as of October 20, 2021 was 365,629,173.




STATE STREET CORPORATION
QUARTERLY REPORT ON FORM 10-Q FOR THE QUARTERLY PERIOD ENDED
September 30, 2021

TABLE OF CONTENTS
Page
PART IFINANCIAL INFORMATION
Management's Discussion and Analysis of Financial Condition and Results of Operations
General
Overview of Financial Results
Consolidated Results of Operations
Total Revenue
Net Interest Income
Provision for Credit Losses
Expenses
Acquisition Costs18
Restructuring and Repositioning Charges18
  Income Tax Expense
Line of Business Information
Investment Servicing
Investment Management
Financial Condition
Investment Securities
Loans
Cross-Border Outstandings
Risk Management
Credit Risk Management
Liquidity Risk Management
Operational Risk Management
Information Technology Risk Management
Market Risk Management
Model Risk Management
Strategic Risk Management
Capital
Off-Balance Sheet Arrangements
Recent Accounting Developments
Quantitative and Qualitative Disclosures About Market Risk
Controls and Procedures
Consolidated Financial Statements
Consolidated Statement of Income (unaudited)
Consolidated Statement of Comprehensive Income (loss) (unaudited)
Consolidated Statement of Condition
Consolidated Statement of Changes in Shareholders' Equity (unaudited)
Consolidated Statement of Cash Flows (unaudited)
Note 1. Summary of Significant Accounting Policies
Note 2. Fair Value
Note 3. Investment Securities
Note 4. Loans and Allowance for Credit Losses
Note 5. Goodwill and Other Intangible Assets
State Street Corporation | 2



Note 6. Other Assets
Note 7. Derivative Financial Instruments
Note 8. Offsetting Arrangements
Note 9. Commitments and Guarantees
Note 10. Contingencies
Note 11. Variable Interest Entities
Note 12. Shareholders' Equity
Note 13. Regulatory Capital
Note 14. Net Interest Income
Note 15. Expenses
Note 16. Earnings Per Common Share
Note 17. Line of Business Information
Note 18. Revenue From Contracts with Customers
Note 19. Non-U.S. Activities
Review Report of Independent Registered Public Accounting Firm
PART IIOTHER INFORMATION
Item 1ARisk Factors
Item 2Unregistered Sales of Equity Securities and Use of Proceeds
Item 6Exhibits
Signatures































We use acronyms and other defined terms for certain business terms and abbreviations, as defined in the acronyms list and glossary following the consolidated financial statements in this Form 10-Q.
State Street Corporation | 3


MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS
PART I. FINANCIAL INFORMATION


GENERAL
State Street Corporation, referred to as the Parent Company, is a financial holding company organized in 1969 under the laws of the Commonwealth of Massachusetts. Our executive offices are located at One Lincoln Street, Boston, Massachusetts 02111 (telephone (617) 786-3000). For purposes of this Quarterly Report on Form 10-Q for the quarter ended September 30, 2021 (Form 10-Q), unless the context requires otherwise, references to "State Street," "we," "us," "our" or similar terms mean State Street Corporation and its subsidiaries on a consolidated basis. The Parent Company is a source of financial and managerial strength to our subsidiaries. Through our subsidiaries, including our principal banking subsidiary, State Street Bank and Trust Company, referred to as State Street Bank, we provide a broad range of financial products and services to institutional investors worldwide, with $43.34 trillion of AUC/A and $3.86 trillion of AUM as of September 30, 2021.
As of September 30, 2021, we had consolidated total assets of $323.14 billion, consolidated total deposits of $259.37 billion, consolidated total shareholders' equity of $27.31 billion and 38,932 employees. We operate in more than 100 geographic markets worldwide, including in the U.S., Canada, Europe, the Middle East and Asia.
Our operations are organized into two lines of business, Investment Servicing and Investment Management, which are defined based on products and services provided.
Additional information about our lines of business is provided in Line of Business Information in this Management's Discussion and Analysis and Note 17 to the consolidated financial statements in this Form 10-Q.
This Management's Discussion and Analysis is part of the Form 10-Q and updates the Management's Discussion and Analysis in our 2020 Annual Report on Form 10-K for the year ended December 31, 2020 previously filed with the SEC (2020 Form 10-K). You should read the financial information contained in this Management's Discussion and Analysis and elsewhere in this Form 10-Q in conjunction with the financial and other information contained in our 2020 Form 10-K. Certain previously reported amounts presented in this Form 10-Q have been reclassified to conform to current-period presentation.
We prepare our consolidated financial statements in conformity with U.S. GAAP. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates
and assumptions in its application of certain accounting policies that materially affect the reported amounts of assets, liabilities, equity, revenue and expenses.
The significant accounting policies that require us to make judgments, estimates and assumptions that are difficult, subjective or complex about matters that are uncertain and may change in subsequent periods include:
accounting for fair value measurements;
impairment of goodwill and other intangible assets;
contingencies; and
allowance for credit losses.
These significant accounting policies require the most subjective or complex judgments, and underlying estimates and assumptions could be subject to revision as new information becomes available. For additional information about these significant accounting policies refer to pages 123 to 125, “Significant Accounting Estimates” included under Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations, in our 2020 Form 10-K. We did not change these significant accounting policies in the first nine months of 2021.
Certain financial information provided in this Form 10-Q, including in this Management's Discussion and Analysis, is prepared on both a U.S. GAAP, or reported basis, and a non-GAAP basis. We measure and compare certain financial information on a non-GAAP basis, including information that management uses in evaluating our business and activities. Non-GAAP financial information should be considered in addition to, and not as a substitute for or superior to, financial information prepared in conformity with U.S. GAAP. Any non-GAAP financial information presented in this Form 10-Q, including this Management’s Discussion and Analysis, is reconciled to its most directly comparable U.S. GAAP-basis measure.
We further believe that our presentation of FTE NII, a non-GAAP measure, which reports non-taxable revenue, such as interest income associated with tax-exempt investment securities, on a FTE basis, facilitates an investor's understanding and analysis of our underlying financial performance and trends.
We provide additional disclosures required by applicable bank regulatory standards, including supplemental qualitative and quantitative information with respect to regulatory capital (including market risk associated with our trading activities) and the LCR, summary results of semi-annual State Street-
State Street Corporation | 4


MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS
run stress tests which we conduct under the Dodd-Frank Act, and resolution plan disclosures required under the Dodd-Frank Act. These additional disclosures are accessible on the “Investor Relations” section of our corporate website at www.statestreet.com.
We have included our website address in this report as an inactive textual reference only. Information on our website is not incorporated by reference into this Form 10-Q.
We use acronyms and other defined terms for certain business terms and abbreviations, as defined in the acronyms list and glossary following the consolidated financial statements in this Form 10-Q.
Forward-Looking Statements
This Form 10-Q, as well as other reports and proxy materials submitted by us under the Securities Exchange Act of 1934, registration statements filed by us under the Securities Act of 1933, our annual report to shareholders and other public statements we may make, may contain statements (including statements in our Management's Discussion and Analysis included in such reports, as applicable) that are considered “forward-looking statements” within the meaning of U.S. securities laws, including statements about our goals and expectations regarding our business, financial and capital condition, results of operations, strategies, cost savings and transformation initiatives, investment portfolio performance, dividend and stock purchase programs, outcomes of legal proceedings, market growth, acquisitions, joint ventures and divestitures, client growth and new technologies, services and opportunities, as well as industry, governmental, regulatory, economic and market trends, initiatives and developments, the business environment and other matters that do not relate strictly to historical facts.
Terminology such as “plan,” “expect,” “intend,” “objective,” “forecast,” “outlook,” “believe,” “priority,” “anticipate,” “estimate,” “seek,” “may,” “will,” “trend,” “target,” “strategy” and “goal,” or similar statements or variations of such terms, are intended to identify forward-looking statements, although not all forward-looking statements contain such terms.
Forward-looking statements are subject to various risks and uncertainties, which change over time, are based on management's expectations and assumptions at the time the statements are made and are not guarantees of future results. Management's expectations and assumptions, and the continued validity of the forward-looking statements, are subject to change due to a broad range of factors affecting the U.S. and global economies, regulatory environment and the equity, debt, currency and other financial markets, as well as factors specific to State
Street and its subsidiaries, including State Street Bank. Factors that could cause changes in the expectations or assumptions on which forward-looking statements are based cannot be foreseen with certainty and include, but are not limited to:
Strategic Risks
The possibility that some or all of the anticipated business, financial, capital, staffing, operational or other benefits or synergies of the acquisition of the BBH Investor Services business will not be realized when expected or at all, including as a result of the impact of, additional costs or unanticipated negative synergies associated with, or problems arising from, the integration of the BBH Investor Services business (including challenges in transitioning clients, systems, technology or personnel), as a result of regulatory or operational challenges we may experience, as a result of disruptions from the transaction harming relationships (including those resulting from the announcement of the transaction) with our clients, employees or regulators, or as a result of the strength of the economy and competitive factors in the areas where we and the BBH Investor Services business do business;
The failure to obtain necessary regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect us or the expected benefits of the transaction, perhaps materially), to satisfy any of the other conditions to the acquisition or at all, in each case, on a timely basis or at all; and, if delayed, the resulting effects, including in magnitude and timing of the expected financial benefits of the acquisition of the BBH Investor Services business, of a delayed closing of the acquisition (which expected financial benefits are presented and determined assuming a closing date of December 31, 2021);
The occurrence of any event, change or other circumstances that could give rise to the termination of the definitive purchase agreement in respect of the acquisition of the BBH Investor Services business;
Potential adverse changes in demand for the products and services of State Street and of the BBH Investor Services business;
We are subject to intense competition, which could negatively affect our profitability;
State Street Corporation | 5


MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS
We are subject to significant pricing pressure and variability in our financial results and our AUC/A and AUM;
Our development and completion of new products and services, including State Street Alpha and State Street Digital, and our enhancement of the capabilities of our existing products and services in light of changed client needs and competitive pressures, may involve costs and dependencies and expose us to increased risk;
Our business may be negatively affected by our failure to update and maintain our technology infrastructure;
Acquisitions, strategic alliances, joint ventures and divestitures, and the integration, retention and development of the benefits of our acquisitions, pose risks for our business;
The COVID-19 pandemic continues to exacerbate certain risks and uncertainties for our business; and
Competition for qualified members of our workforce is intense, and we may not be able to attract and retain the highly skilled people we need to support our business.
Financial Market Risks
We could be adversely affected by geopolitical, economic and market conditions;
We have significant International operations, and disruptions in European and Asian economies could have an adverse effect on our consolidated results of operations or financial condition;
Our investment securities portfolio, consolidated financial condition and consolidated results of operations could be adversely affected by changes in the financial markets;
Our business activities expose us to interest rate risk;
We assume significant credit risk to counterparties, who may also have substantial financial dependencies with other financial institutions, and these credit exposures and concentrations could expose us to financial loss;
Our fee revenue represents a significant portion of our consolidated revenue and is subject to decline based on, among other factors, the investment activities of our clients;
If we are unable to effectively manage our capital and liquidity, our consolidated financial condition, capital ratios, results of operations and business prospects could be adversely affected;
We may need to raise additional capital or debt in the future, which may not be available to us or may only be available on unfavorable terms; and
If we experience a downgrade in our credit ratings, or an actual or perceived reduction in our financial strength, our borrowing and capital costs, liquidity and reputation could be adversely affected.
Compliance and Regulatory Risks
Our business and capital-related activities, including common share repurchases, may be adversely affected by capital and liquidity standards required as a result of capital stress testing;
We face extensive and changing government regulation in the jurisdictions in which we operate, which may increase our costs and compliance risks;
We are subject to enhanced external oversight as a result of the resolution of prior regulatory or governmental matters;
Our businesses may be adversely affected by government enforcement and litigation;
Any misappropriation of the confidential information we possess could have an adverse impact on our business and could subject us to regulatory actions, litigation and other adverse effects;
Our calculations of risk exposures, total RWA and capital ratios depend on data inputs, formulae, models, correlations and assumptions that are subject to change, which could materially impact our risk exposures, our total RWA and our capital ratios from period to period;
Changes in accounting standards may adversely affect our consolidated financial statements;
Changes in tax laws, rules or regulations, challenges to our tax positions and changes in the composition of our pre-tax earnings may increase our effective tax rate; and
The transition away from LIBOR may result in additional costs and increased risk exposure.
Operational Risks
Our control environment may be inadequate, fail or be circumvented, and, if so, operational risks could adversely affect our consolidated results of operations;
Cost shifting to non-U.S. jurisdictions and outsourcing may expose us to increased operational risk and reputational harm and may not result in expected cost savings;
Attacks or unauthorized access to our information technology systems or facilities, or those of the third parties with which we do
State Street Corporation | 6


MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS
business, or disruptions to our or their continuous operations, could result in significant costs, reputational damage and impacts on our business activities;
Long-term contracts expose us to pricing and performance risk;
Our businesses may be negatively affected by adverse publicity or other reputational harm;
We may not be able to protect our intellectual property;
The quantitative models we use to manage our business may contain errors that could result in material harm;
Our reputation and business prospects may be damaged if our clients incur substantial losses or are restricted in redeeming their interests in investment pools that we sponsor or manage;
The impacts of climate change could adversely affect our business operations; and
We may incur losses as a result of unforeseen events, including terrorist attacks, natural disasters, the emergence of a new pandemic or acts of embezzlement.
Actual outcomes and results may differ materially from what is expressed in our forward-looking statements and from our historical financial results due to the factors discussed in this section and elsewhere in this Form 10-Q or disclosed in our other SEC filings. Forward-looking statements in this Form 10-Q should not be relied on as representing our expectations or assumptions as of any time subsequent to the time this Form 10-Q is filed with the SEC. We undertake no obligation to revise our forward-looking statements after the time they are made. The factors discussed herein are not intended to be a complete statement of all risks and uncertainties that may affect our businesses. We cannot anticipate all developments that may adversely affect our business or operations or our consolidated results of operations, financial condition or cash flows.
Forward-looking statements should not be viewed as predictions and should not be the primary basis on which investors evaluate State Street. Any investor in State Street should consider all risks and uncertainties disclosed in our SEC filings, including our filings under the Securities Exchange Act of 1934, in particular our annual reports on Form 10-K, our quarterly reports on Form 10-Q and our current reports on Form 8-K, and our registration statements filed under the Securities Act of 1933, all of which are accessible on the SEC's website at www.sec.gov or on the “Investor Relations” section of our corporate website at www.statestreet.com.
OVERVIEW OF FINANCIAL RESULTS
TABLE 1: OVERVIEW OF FINANCIAL RESULTS
Three Months Ended September 30,% Change
(Dollars in millions, except per share amounts)20212020
Total fee revenue$2,504 $2,306 %
Net interest income487 478 2
Total other income(1)— nm
Total revenue2,990 2,784 
Provision for credit losses(2)— nm
Total expenses2,116 2,103 
Income before income tax expense876 681 29 
Income tax expense 162 126 29 
Net income$714 $555 29 
Adjustments to net income:
Dividends on preferred stock(1)
$(21)$(38)(45)
Earnings allocated to participating securities(2)
 — nm
Net income available to common shareholders$693 $517 34 
Earnings per common share:
Basic$1.99 $1.47 35 
Diluted1.96 1.45 35 
Average common shares outstanding (in thousands):
Basic347,718 352,586 (1)
Diluted353,494 357,168 (1)
Cash dividends declared per common share$.57 $.52 10 
Return on average common equity11.6 %8.9 %270 bps
Pre-tax margin29.3 24.5 480 
Nine Months Ended September 30,% Change
(Dollars in millions, except per share amounts)20212020
Total fee revenue$7,501 $7,083 %
Net interest income1,421 1,701 (16)
Total other income52 — nm
Total revenue8,974 8,786 
Provision for credit losses(26)88 nm
Total expenses6,559 6,440 
Income before income tax expense2,441 2,258 
Income tax expense445 375 19 
Net income$1,996 $1,883 
Adjustments to net income:
Dividends on preferred stock(1)
$(85)$(123)(31)
Earnings allocated to participating securities(2)
(1)(1)— 
Net income available to common shareholders$1,910 $1,759 
Earnings per common share:
Basic$5.49 $4.99 10 
Diluted5.40 4.93 10 
Average common shares outstanding (in thousands):
Basic348,106 352,829 (1)
Diluted353,376 356,971 (1)
Cash dividends declared per common share$1.61 $1.56 
Return on average common equity10.8 %10.6 %20 bps
Pre-tax margin27.2 25.7 150 
(1) Additional information about our preferred stock dividends is provided in Note 12 to the consolidated financial statements in this Form 10-Q.
(2) Represents the portion of net income available to common equity allocated to participating securities, composed of unvested and fully vested SERP (Supplemental executive retirement plans) shares and fully vested deferred director stock awards, which are equity-based awards that contain non-forfeitable rights to dividends, and are considered to participate with the common stock in undistributed earnings.
nm Not meaningful
State Street Corporation | 7


MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS
The following “Financial Results and Highlights” section provides information related to significant events, as well as highlights of our consolidated financial results for the third quarter of 2021 presented in Table 1: Overview of Financial Results. More detailed information about our consolidated financial results, including the comparison of our financial results for the three and nine months ended September 30, 2021, compared to the same periods in 2020, is provided under “Consolidated Results of Operations”, "Line of Business Information" and "Capital" which follows these sections, as well as in our consolidated financial statements in this Form 10-Q. In this Management’s Discussion and Analysis, where we describe the effects of changes in foreign currency translation, those effects are determined by applying applicable weighted average FX rates from the relevant 2020 period to the relevant 2021 period results.
Financial Results and Highlights
Third quarter of 2021 financial performance:
EPS of $1.96 in the third quarter of 2021, up 35%, from $1.45 in the same period in 2020.
Total fee revenue was up 9% in the third quarter of 2021, compared to the same period in 2020, including less than 1% due to currency translation.
Servicing fee revenues were up 7% in the third quarter of 2021, compared to the same period in 2020. Management fee revenues were up 10% in the third quarter of 2021, compared to the same period in 2020.
In the third quarter of 2021, return on equity of 11.6% increased from 8.9% in the same period in 2020, primarily due to an increase in net income available to common shareholders. Pre-tax margin of 29.3% in the third quarter of 2021 increased from 24.5% in the same period in 2020, primarily due to an increase in total revenue.
Operating leverage was 6.8% points in the third quarter of 2021. Operating leverage represents the difference between the percentage change in total revenue and the percentage change in total expenses, in each case relative to the prior year period.
In September 2021, we announced that we had entered into a definitive agreement to acquire the BBH Investor Services business for $3.5 billion in cash. This proposed acquisition is subject to regulatory approvals and the satisfaction or waiver of other closing conditions.
We expect to finance the proposed acquisition of the BBH Investor Services business primarily with the proceeds of $1.9 billion from a common stock offering completed in September 2021, a temporary suspension of repurchases of our common stock and with cash on hand.
During the third quarter of 2021, our business and financial results continued to reflect effects of the COVID-19 pandemic:
Approximately 77% of our employees globally continue to work remotely as of September 30, 2021.
We continued to experience high levels of client deposits in the third quarter of 2021 amidst the Federal Reserve's expansionary monetary policy.
Revenue
Total revenue increased 7% in the third quarter of 2021, compared to the same period in 2020. Total fee revenue increased 9% in the third quarter of 2021, compared to the same period in 2020, driven by increases across all categories of fee revenue.
Servicing fee revenue increased 7% in the third quarter of 2021, compared to the same period in 2020, primarily due to higher average equity market levels, client activity and flows, and net new business, partially offset by normal pricing headwinds.
Management fee revenue increased 10% in the third quarter of 2021, compared to the same period in 2020, primarily due to higher average equity market levels and net inflows from ETFs, partially offset by idiosyncratic actions by an institutional client, as previously reported, and higher money market fee waivers.
Foreign exchange trading services increased 3% in the third quarter of 2021, compared to the same period in 2020, primarily due to higher direct sales and trading revenue and indirect volumes, partially offset by lower FX volatility.
State Street Corporation | 8


MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS
Securities finance revenue increased 26% in the third quarter of 2021, compared to the same period in 2020, reflecting higher client securities loan balances and spreads, as well as new business wins in enhanced custody.
Software and processing fees revenue increased 15% in the third quarter of 2021, compared to the same period in 2020, primarily due to higher CRD revenues.
NII increased 2% in the third quarter of 2021, compared to the same period in 2020, primarily due to higher loan balances and growth in the investment portfolio and deposits, as well as the absence of a $20 million non-recurring true-up in the third quarter of 2020, partially offset by lower investment portfolio yields.
Provision for Credit Losses
The provision for credit losses was a $2 million reserve release in the third quarter of 2021, compared to no provision for credit losses in the same period in 2020, which is primarily driven by improvements in credit quality and stable economic outlook.
Expenses
Total expenses increased 1% in the third quarter of 2021, compared to the same period in 2020, primarily reflecting the impact of notable items and currency translation. Currency translation increased expenses by less than 1% in the third quarter of 2021, relative to the same period in 2020.
The impact of notable items in the third quarter of 2021 includes acquisition and restructuring costs of approximately $18 million, of which $11 million related to CRD and $7 million related to our proposed acquisition of the BBH Investor Services business.
The impact of notable items in the third quarter of 2020 includes acquisition and restructuring costs of approximately $15 million, primarily related to CRD, and a $9 million accrual release.
AUC/A and AUM
AUC/A of $43.34 trillion increased 18% as of September 30, 2021, compared to September 30, 2020, primarily due to higher market levels, client flows and net new business growth. In the third quarter of 2021, newly announced asset servicing mandates totaled approximately $1.66 trillion, with State Street AlphaSM representing a large proportion of the wins. Servicing assets
remaining to be installed in future periods totaled approximately $2.73 trillion as of September 30, 2021.
AUM of $3.86 trillion increased 23% as of September 30, 2021, compared to September 30, 2020, primarily due to higher market levels and net inflows from ETFs and cash, partially offset by institutional net outflows.
Capital
In the third quarter of 2021, we returned a total of approximately $179 million to our shareholders in the form of common stock dividends paid.
We declared common stock dividends of $0.57 per share, totaling $209 million in the third quarter of 2021 to be paid in the fourth quarter of 2021, compared to $0.52 per share, totaling $184 million in the third quarter of 2020, representing a 10% increase on a per share basis from the third quarter of 2020.
In July 2021, our Board authorized a common share repurchase plan of up to $3.0 billion of our common stock through the end of 2022, however, in connection with our proposed acquisition of the BBH Investor Services business, we did not repurchase any common stock during the third quarter of 2021. We do not intend to repurchase any common stock during the fourth quarter of 2021 and the first quarter of 2022. We intend to resume our common share repurchases during the second quarter of 2022.
In September 2021, we completed a public offering of approximately 21.7 million shares of our common stock. The offering price was $87.60 per share and net proceeds totaled approximately $1.9 billion. We expect to use these net proceeds to finance our proposed acquisition of the BBH Investor Services business.
Our CET1 capital ratio increased to 13.5% as of September 30, 2021, compared to 12.3% as of December 31, 2020, primarily due to higher retained earnings and the issuance of common stock in September 2021, partially offset by higher risk-weighted assets. Our Tier 1 leverage ratio decreased to 6.3% as of September 30, 2021 compared to 6.4% as of December 31, 2020. Following the planned closing of our acquisition of the BBH Investor Services business, we expect both capital ratios to be at the lower end of our target ranges of 10-11% for CET1 ratio and
State Street Corporation | 9


MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS
5.25%-5.75% for Tier 1 Leverage ratio . As of both September 30, 2021 and December 31, 2020, standardized capital ratios were binding.
CONSOLIDATED RESULTS OF OPERATIONS
This section discusses our consolidated results of operations for the three and nine months ended September 30, 2021, compared to the same periods in 2020, and should be read in conjunction with the consolidated financial statements and accompanying notes to the consolidated financial statements in this Form 10-Q.
Total Revenue
TABLE 2: TOTAL REVENUE
Three Months Ended September 30,% Change
(Dollars in millions)20212020
Fee revenue:
Servicing fees$1,395 $1,301 %
Management fees(1)
526 479 10 
Foreign exchange trading services(1)
279 270 
Securities finance106 84 26 
Software and processing fees198 172 15 
Total fee revenue2,504 2,306 
Net interest income:
   Interest income487 520 (6)
   Interest expense 42 nm
Net interest income487 478 
Other income:
Gains (losses) related to investment securities, net(1)— nm
Other income — nm
Total other income(1)— nm
Total revenue(1)
$2,990 $2,784 
Nine Months Ended September 30,% Change
(Dollars in millions)20212020
Fee revenue:
Servicing fees$4,165 $3,860 %
Management fees(1)
1,523 1,387 10 
Foreign exchange trading services(1)
911 1,039 (12)
Securities finance314 268 17 
Software and processing fees588 529 11 
Total fee revenue7,501 7,083 
Net interest income:
Interest income1,425 2,062 (31)
Interest expense4 361 (99)
Net interest income1,421 1,701 (16)
Other income:
Gains (losses) related to investment securities, net(1)nm
Other income53 — nm
Total other income52 nm
Total revenue$8,974 $8,786 
(1) Certain fees associated with our GLD ETFs have been reclassified from foreign exchange trading services to management fees to better reflect the nature of those fees. Prior periods have been reclassified to conform to current-period presentation. These fees were approximately $24 million and $58 million in the three and nine months ended September 30, 2020, respectively.
nm Not meaningful
Fee Revenue
Table 2: Total Revenue, provides the breakout of fee revenue for the three and nine months ended September 30, 2021 and 2020. Servicing and management fees collectively made up approximately 77% and 76% of the total fee revenue in the three and nine months ended September 30, 2021, respectively, compared to 77% and 74% in the same periods in 2020, respectively.
Servicing Fee Revenue
Generally, our servicing fee revenues are affected by several factors including changes in market valuations, client activity and asset flows, net new business and the manner in which we price our services. We provide a range of services to our clients, including core custody services, accounting, reporting and administration and middle office services, and the nature and mix of services provided affects our servicing fees. The basis for fees will differ across regions and clients.
Changes in Market Valuations
Our servicing fee revenue is impacted by both our levels and the geographic and product mix of our AUC/A. Increases or decreases in market valuations have a corresponding impact on the level of our AUC/A and servicing fee revenues, though the degree of impact will vary depending on asset types and classes and geography of assets held within our clients’ portfolios. For certain asset classes where the valuation process is more complex, including alternative investments, or where our valuation is dependent on third party information, AUC/A is reported on a lag, typically one-month. For those asset classes, the impact of market levels on our reported AUC/A does not reflect current period-end market levels.
Over the five years ended December 31, 2020, we estimate that worldwide market valuations impacted our servicing fee revenues by approximately (1)% to 5% annually. See Table 3: Daily Averages, Month-End Averages and Quarter-End Equity Indices for selected indices. While the specific indices presented are indicative of general market trends, the asset types and classes relevant to individual client portfolios can and do differ, and the performance of associated relevant indices and of client portfolios can therefore differ from the performance of the indices presented. In addition, our asset classifications may differ from those industry classifications presented.
State Street Corporation | 10


MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS
Assuming that all other factors remain constant, including client activity and asset flows and pricing, we estimate, using relevant information as of September 30, 2021 that a 10% increase or decrease in worldwide equity valuations, on a weighted average basis, over the relevant periods for which our servicing fees are calculated, would result in a corresponding change in our total servicing fee revenues, on average and over multiple quarters, of approximately 3%. We estimate, similarly assuming all other factors constant and using relevant information as of September 30, 2021, that changes in worldwide fixed income markets, which on a weighted average basis and over time are typically less volatile than worldwide equity markets, have a smaller impact on our servicing fee revenues on average and over time.
TABLE 3: DAILY AVERAGES, MONTH-END AVERAGES AND QUARTER-END EQUITY INDICES(1)
Daily Averages of IndicesMonth-End Averages of IndicesQuarter-End Indices
Three Months Ended September 30,Three Months Ended September 30,As of September 30,
20212020
% Change
20212020% Change20212020% Change
S&P 500®
4,422 3,320 33 %4,408 3,378 30 %4,308 3,363 28 %
MSCI EAFE®
2,338 1,871 25 2,320 1,862 25 2,281 1,855 23 
MSCI® Emerging Markets
1,295 1,084 19 1,280 1,087 18 1,253 1,082 16 
Daily Averages of IndicesMonth-End Averages of Indices
Nine Months Ended September 30,Nine Months Ended September 30,
20212020% Change20212020% Change
S&P 500®
4,162 3,104 34 %4,156 3,106 34 %
MSCI EAFE®
2,283 1,807 26 2,263 1,790 26 
MSCI® Emerging Markets
1,336 1,015 32 1,325 1,003 32 
(1) The index names listed in the table are service marks of their respective owners.
TABLE 4: QUARTER-END DEBT INDICES(1)
As of September 30,
20212020
% Change
Barclays Capital U.S. Aggregate Bond Index®
2,355 2,376 (1)%
Barclays Capital Global Aggregate Bond Index®
536 541 (1)
(1) The index names listed in the table are service marks of their respective owners.
Client Activity and Asset Flows
Client activity and asset flows are impacted by the number of transactions we execute on behalf of our clients, including FX settlements, equity and derivative trades, and wire transfer activity, as well as actions by our clients to change the asset class in which their assets are invested. Our servicing fee revenues are impacted by a number of factors, including transaction volumes, asset levels and asset classes in which funds are invested, as well as industry trends associated with these client-related activities.
Our clients may change the asset classes in which their assets are invested, based on their market outlook, risk acceptance tolerance or other considerations. Over the five years ended December 31, 2020, we estimate that client activity and asset flows, together, impacted our servicing fee revenues by approximately (1)% to 2% annually. See Table 5: Industry Asset Flows for selected asset flow information. While the asset flows presented are indicative of general market trends, the asset types and classes relevant to individual client portfolios can and do differ, and our flows may differ from those market trends. In addition, our asset classifications may differ from those industry classifications presented.
State Street Corporation | 11


MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS

TABLE 5: INDUSTRY ASSET FLOWS
Three Months Ended September 30,
(In billions)20212020
North America - (US Domiciled) - Morningstar Direct Market Data(1)(2)(3)
Long-Term Funds(4)
$130.0 $21.4 
Money Market20.8 (165.8)
Exchange-Traded Fund103.2 60.1 
Total Flows$254.0 $(84.3)
Europe - Morningstar Direct Market Data(1)(2)(5)
Long-Term Funds(4)
$213.4 $134.4 
Money Market47.9 60.0 
Exchange-Traded Fund36.7 32.4 
Total Flows$298.0 $226.8 
(1) Industry data is provided for illustrative purposes only. It is not intended to reflect our activity or our clients' activity and is indicative of only segments of the entire industry.
(2) Source: Morningstar. The data includes long-term mutual funds, ETFs and money market funds. Mutual fund data represents estimates of net new cash flow, which is new sales minus redemptions combined with net exchanges, while ETF data represents net issuance, which is gross issuance less gross redemptions. Data for Fund of Funds, Feeder funds and Obsolete funds were excluded from the series to prevent double counting. Data is from the Morningstar Direct Asset Flows database.
(3) The third quarter of 2021 data for North America (US domiciled) includes Morningstar direct actuals for July and August 2021 and Morningstar direct estimates for September 2021.
(4) The long-term fund flows reported by Morningstar direct in North America are composed of US domiciled market flows mainly in Equities, Allocation and Fixed-Income asset classes. The long-term fund flows reported by Morningstar direct in EMEA are composed of the European market flows mainly in Equities, Allocation and Fixed-Income asset classes.
(5) The third quarter of 2021 data for Europe is on a rolling three month basis for June 2021 through August 2021, sourced by Morningstar.
Net New Business
Over the five years ended December 31, 2020, net new business, which includes business both won and lost, has affected our servicing fee revenues by approximately 2% on average with a range of 0% to 3% annually. Gross investment servicing mandates were $1.66 trillion in the third quarter of 2021 and $1.3 trillion per year on average over the past five years. Over the five years ended December 31, 2020, gross annual investment servicing mandates ranged from $750 billion to nearly $2.0 trillion.
New business impacting servicing fees can include: custody; product accounting; daily valuation and administration; record-keeping; cash management; and other services. Revenues associated with new servicing mandates may vary based on the breadth of services provided, the time required to install the assets, and the types of assets installed.
Revenues associated with new mandates are not reflected in our servicing fee revenue until the assets have been installed. Our installation timeline, in general, can range from 6 to 36 months, with the average installation timeline being approximately 9 to 12 months over the 2 years ended December 31, 2020. Our more complex installations, including new State Street Alpha mandates, will generally be on the longer end of that range. With respect to the current asset mandates of approximately $2.73 trillion that are yet to be installed as of September 30, 2021, we expect the conversion will occur over the coming 12 to 24 months, with approximately half of the annualized revenue expected to be recognized through 2022, and the remainder primarily in 2023.
State Street Corporation | 12


MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS
Pricing
The industry in which we operate has historically faced pricing pressure, and our servicing fee revenues are also affected by such pressures today. Consequently, no assumption should be drawn as to future revenue run rate from announced servicing wins, as the amount of revenue associated with AUC/A can vary materially. On average, over the five years ended December 31, 2020, we estimate that pricing pressure with respect to existing clients has impacted our servicing fees by approximately (2)% annually, with the impact ranging from (1)% to (4)% in any given year. Pricing concessions can be a part of a contract renegotiation with a client including terms that may benefit us, such as extending the terms of our relationship with the client, expanding the scope of services that we provide or reducing our dependency on manual processes through the standardization of the services we provide. The timing of the impact of additional revenue generated by anticipated additional services, and the amount of revenue generated, may differ from the impact of pricing concessions on existing services due to the necessary time required to onboard those new services, the nature of those services and client investment practices. These same market pressures also impact the fees we negotiate when we win business from new clients.
In order to offset the typical client attrition and normal pricing headwinds, we estimate that we need at least $1.5 trillion of new AUC/A per year; although, notwithstanding increases in AUC/A, servicing fees remain subject to several factors, including changes in market valuations, client activity and asset flows, the manner in which we price our services, the nature of the assets being serviced and the type of services and the other factors described in Item 1A, "Risk Factors", in our 2020 Form 10-K.
Historically, and based on an indicative sample of revenue, we estimate that approximately 55%, on average, of our servicing fee revenues have been variable due to changes in asset valuations including changes in daily average valuations of AUC/A; another 15%, on average, of our servicing fees are impacted by the volume of activity in the funds we serve; and the remaining approximately 30% of our servicing fees tend not to be variable in nature nor impacted by market fluctuations or values.
Based on the impact of the above, client activity and asset flows, net new business and pricing, noted drivers of our servicing fee revenue will vary depending on the mix of products and services we provide to our clients. The full impact of changes in market valuations and the volume of activity in the funds may not be fully reflected in our servicing fee revenues in the periods in which the changes occur, particularly in periods of higher volatility.
Management Fee Revenue
Management fees generally are affected by our level of AUM, which we report based on month-end valuations. Management fees for certain components of managed assets, such as ETFs, mutual funds and UCITS, are affected by daily average valuations of AUM. Management fee revenue is more sensitive to market valuations than servicing fee revenue, as a higher proportion of the underlying services provided, and the associated management fees earned, are dependent on equity and fixed-income security valuations. Additional factors, such as the relative mix of assets managed, may have a significant effect on our management fee revenue. While certain management fees are directly determined by the values of AUM and the investment strategies employed, management fees may reflect other factors, including performance fee arrangements, as well as our relationship pricing for clients. In addition, in a prolonged low-interest rate environment, such as we are currently experiencing, we have waived and may in the future waive certain fees for our clients for money market products.
The impact of State Street Global Advisors gross money market fund fee waivers on total management fee revenue was approximately $20 million in the third quarter of 2021. As of September 30, 2021, and assuming short-term spot interest rates and the amount of money market fund assets remain constant, we estimate that the impact of gross money market fee waivers on our management fees would be approximately $20 million in the fourth quarter of 2021. We believe that a further decline in short-term interest rates, primarily one- and three-month interest rates, would not materially impact this estimate. Alternatively, if short-term interest rates were to rise by approximately 10bps, the impact of gross money market fee waivers on our management fees would be largely mitigated in the subsequent quarterly periods.
Asset-based management fees for passively managed products, to which our AUM is currently primarily weighted, are generally charged at a lower fee on AUM than for actively managed products. Actively managed products may also include performance fee arrangements which are recorded when the fee is earned, based on predetermined benchmarks associated with the applicable account's performance.
State Street Corporation | 13


MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS
In light of the above, we estimate, using relevant information as of September 30, 2021 and assuming that all other factors remain constant, including the impact of business won and lost and client flows, that:
A 10% increase or decrease in worldwide equity valuations, on a weighted average basis, over the relevant periods for which our management fees are calculated, would result in a corresponding change in our total management fee revenues, on average and over multiple quarters, of approximately 5%; and
We estimate, similarly assuming all other factors constant and using relevant information as of September 30, 2021, that changes in worldwide fixed income markets, which on a weighted average basis and over time are typically less volatile than worldwide equity markets, will have a smaller impact on our management fee revenues on average and over time.
Daily averages, month-end averages and quarter-end indices demonstrate worldwide changes in equity and debt markets that affect our management fee revenue. Quarter-end indices affect the values of AUM as of those dates. See Table 3: Daily Averages, Month-End Averages and Quarter-End Equity Indices for selected indices.
Additional information about fee revenue is provided under "Line of Business Information" included in this Management's Discussion and Analysis.
Net Interest Income
See Table 2: Total Revenue, for the breakout of interest income and interest expense for the three and nine months ended September 30, 2021, compared to the same periods in 2020.
NII is defined as interest income earned on interest-earning assets less interest expense incurred on interest-bearing liabilities. Interest-earning assets, which principally consist of investment securities, interest-bearing deposits with banks, loans, resale agreements and other liquid assets, are financed primarily by client deposits, short-term borrowings and long-term debt.
NIM represents the relationship between annualized FTE NII and average total interest-earning assets for the period. It is calculated by dividing FTE NII by average interest-earning assets. Revenue that is exempt from income taxes, mainly earned from certain investment securities (state and political subdivisions), is adjusted to a FTE basis using the U.S. federal and state statutory income tax rates.
NII on an FTE basis increased in the three months ended September 30, 2021, compared to the same period in 2020, primarily due to higher loan
balances and growth in the investment portfolio and deposits, as well as the absence of a non-recurring true-up in the third quarter of 2020, partially offset by lower investment portfolio yields.
NII on an FTE basis decreased in the nine months ended September 30, 2021, compared to the same period in 2020, primarily due to lower investment portfolio yields, partially offset by deposit, investment portfolio and loan growth, and the absence of a non-recurring true-up in the third quarter of 2020.
Investment securities net premium amortization, which is included in interest income, was $128 million and $454 million in the three and nine months ended September 30, 2021, respectively, compared to $179 million and $396 million in the same periods in 2020, respectively. The decrease in MBS premium amortization in the three months ended September 30, 2021, compared to the same period in 2020, is primarily driven by lower prepayments and the absence of a non-recurring true-up of $20 million, which impacted the third quarter of 2020. The increase in the nine months ended September 30, 2021, compared to the same period in 2020, is primarily driven by low level of interest rates and the absence of the MMLF discount accretion.
Interest income related to debt securities is recognized in our consolidated statement of income using the effective interest method, or on a basis approximating a level rate of return over the contractual or estimated life of the security. The rate of return considers any non-refundable fees or costs, as well as purchase premiums or discounts, resulting in amortization or accretion, accordingly. The amortization of premiums and accretion of discounts are adjusted for prepayments when they occur, which primarily impact mortgage-backed securities.
The following table presents the investment securities amortizable purchase premium net of discount accretion for the periods indicated:
TABLE 6: INVESTMENT SECURITIES NET PREMIUM AMORTIZATION
Three Months Ended September 30,
20212020
(Dollars in millions)MBSNon -MBS
Total(1)
MBSNon- MBSTotal
Unamortized premiums, net of discounts at period end$768 $497 $1,265 $1,281 $735 $2,016 
Net premium amortization(2)
78 50 128 128 51 179 
(1) The investment securities portfolio duration is 3.1 years as of September 30, 2021.
(2) Net of discount accretion on MMLF HTM securities.
State Street Corporation | 14


MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPER