Liquidity Coverage Ratio Public Disclosure (05/11/2026 00: 00

Published: 2026-05-11 14:07:15 ET STT

Published on 05/11/2026 at 02:07 pm EDT

F.S.Liquidily Coverage RalioDisclosure

For the Quarterly PeriodEndedMarch 31,2026

Introduction

LCR Disclosure

LCR Variance 3

Drivers of Quarterly Average LCR 3

HQLA Composition 3

Outflow Drivers 3

Inflow Drivers 3

Quantitative Disclosure 4

Liquidity Management

Governance 5

Liquidity Framework 5

Liquidity Risk Metrics 6

Forward-Looking Statements

‌In this Liquidity Coverage Ratio ("LCR") Disclosure, "our," "we," "us," and "State Street" refer to State Street Corporation ("SSC") and "SSBT" refers to State Street Bank and Trust Company, SSC's principal

banking subsidiary, each on a consolidated basis. Please read this Disclosure with the "Forward-Looking Statements" section.

State Street Corporation is one of the world's leading providers of financial services to institutional investors, including investment services, markets and financing solutions and investment management. Our clients-asset managers and owners, insurance companies, wealth managers, official institutions, and central banks-rely on us to deliver solutions that support their business objectives across the investment life cycle.

The U.S. Liquidity Coverage Ratio rule ("LCR rule") requires certain large U.S. banking organizations, such as State Street and its bank subsidiaries, to maintain an amount of high-quality liquid assets ("HQLA") that is sufficient to meet their estimated total net cash outflows over a prospective 30

calendar-day period of significant stress. The LCR is calculated by dividing HQLA by estimated net outflows over the stress period determined by standardized stress outflow and inflow rate assumptions prescribed in the LCR rule. Similar to outflows, the inflows are calculated based on prescribed factors to various asset categories. The minimum LCR requirement is 100%.

The LCR rule also requires us to publicly disclose certain qualitative and quantitative information related to the LCR calculations and our liquidity management practices on a quarterly basis. Accordingly, we have developed this Disclosure, which contains the required public disclosures prepared in accordance with the LCR rule and covering

the period beginning January 1, 2026 and ending March 31, 2026.

The LCR rule requires us to present certain components of HQLA, cash inflows, and cash outflows on both a weighted and unweighted basis. With respect to HQLA, weighted basis refers to the application of prescribed haircuts and caps applicable to otherwise eligible HQLA; unweighted basis refers to HQLA before application of those haircuts and caps. With respect to cash inflows and outflows, weighted basis refers to the application of specified inflow and outflow rates applicable to certain types of cash inflows and outflows; unweighted basis refers to inflows and outflows before the application of those rates. Averages are calculated as simple averages of daily amounts over the calendar quarter.

SSC's average daily LCR remained stable at 106% in the first quarter of 2026 when compared to the previous quarter. State Street retains the majority of its liquidity resources at SSBT, as SSC conducts minimal business activity at the corporate holding company level. We calculate and monitor LCR at the subsidiary level as well as the corporate holding company level in order to assess the HQLA held by subsidiaries that are eligible for inclusion in the consolidated SSC LCR. SSBT's average daily LCR decreased from 143% in the fourth quarter of 2025 to 139% in the first quarter of 2026, driven by an increase in net cash outflows, partially offset by an increase in HQLA.

We expect our average LCR to vary from period to period due to typical fluctuations in our client activity, business mix, and the overall market environment.

Client deposits are the main funding source for State Street and are the most significant driver of weighted outflows in the LCR. State Street provides custody and clearing

solutions to a wide range of clients including asset managers, asset owners, insurance companies, official institutions, and central banks. These service relationships generate substantial operational deposit balances, which are generally considered to be a stable source of liquidity due to their importance to our clients' investment and related activities.

The HQLA that State Street holds is

adequate to cover the deposit outflows, as well as other outflows (e.g., unsecured

wholesale funding, secured funding, derivatives), under the hypothetical LCR rule's liquidity stress calculation.

HQLA primarily consists of cash and certain high-quality liquid securities as defined in the LCR rule.

In the first quarter of 2026, SSC's average HQLA was $105.7 billion1, composed primarily of level 1 liquid assets ($86.4 billion) and level 2A liquid assets ($19.3 billion), within the meaning of the LCR rule. The majority of HQLA is held in cash balances at central

banks, U.S. Treasuries, and U.S. Agency Mortgage-Backed Securities (inclusive of pass-throughs, CMOs and CMBS).

For additional information about State Street's HQLA, see State Street's 2025 Form 10-K and our subsequent filings with the Securities and Exchange Commission

("SEC").

During the first quarter of 2026, calculated weighted average outflows of $139.7 billion were primarily driven by deposit outflows of approximately $96.4 billion, outflows of undrawn committed credit and liquidity facilities of approximately $14.8 billion, and outflows related to derivative exposures and other collateral requirements totaling $14.6 billion.

SSC's calculated weighted average inflows of

$43.4 billion in the first quarter of 2026, were primarily driven by the contractual unwind of securities borrowing and lending transactions as cash and securities are returned to SSC.

Placements and nostro balances held at

unaffiliated banks and loans maturing within 30 days make up the remaining of those cash inflows.

1 Excludes average excess eligible HQLA at SSBT that are not transferable to SSC

The following table presents further detail on the Firm's LCR as required by the LCR rule regarding

the averages of daily observations over the first quarter of 2026.

1Q26 SSC Quarterly Average LCR Quantitative Disclosure

January 1, 2026 to March 31, 2026

$ in Millions

Average Unweighted Amount

Average Weighted Amount

High-Quality Liquid Assets

1 Total eligible high-quality liquid assets (HQLA), of which:

109,097

105,683

2 Eligible level 1 liquid assets

86,397

3 Eligible level 2A liquid assets

22,675

19,274

4 Eligible level 2B liquid assets

Cash Outflow Amounts

5 Deposit outflow from retail customers and counterparties, of which:

14,314

3,578

6 Stable retail deposit outflow

7 Other retail funding

8 Brokered deposit outflow

14,314

3,578

9 Unsecured wholesale funding outflow, of which:

244,532

93,129

10 Operational deposit outflow

198,337

49,519

11 Non-operational funding outflow

45,919

43,334

12 Unsecured debt outflow

276

13 Secured wholesale funding and asset exchange outflow

73,705

12,330

14 Additional outflow requirements, of which:

53,398

29,421

15 Outflow related to derivative exposures and other collateral requirements

15,002

14,620

16 Outflow related to credit and liquidity facilities including unconsolidated structured transactions and mortgage commitments

38,396

14,801

17 Other contractual funding obligation outflow

1,202

18 Other contingent funding obligation outflow

19 Total Cash Outflow

387,152

139,661

Cash Inflow Amounts

20 Secured lending and asset exchange cash inflow

97,004

29,925

21 Retail cash inflow

22 Unsecured cash inflows

7,744

7,602

23 Other cash inflows, of which:

5,869

24 Net derivative cash inflow

5,629

25 Securities cash inflow

240

26 Broker-dealer segregated account inflow

27 Other cash inflow

28 Total Cash Inflow

110,617

43,396

Average Amount1

29 HQLA Amount

105,683

30 Total Net Cash Outflow Amount Excluding the Maturity Mismatch Add-On

96,265

31 Maturity Mismatch Add-On

2,994

32 Total Unadjusted Net Cash Outflow Amount

99,258

33 Outflow Adjustment Percentage

100%

34 Total Adjusted Net Cash Outflow Amount

99,258

35 Liquidity Coverage Ratio (%)

106%

1 The amounts reporting in this column may not equal the calculation of those amounts using component amounts reported in rows 1-28 due to technical factors such as the application of the level 2 liquid asset caps and the total inflow cap.

Global Treasury is responsible for our management of liquidity. This includes the day-to-day management of our global

liquidity position, development and

monitoring of early warning indicators and key liquidity risk metrics, creation and

execution of liquidity stress tests, evaluation and implementation of regulatory requirements, maintenance and execution of our contingency funding plan ("CFP"), and routine management reporting to Asset

Liability Committee ("ALCO"), Enterprise Risk Committee ("ERC") and the Risk Committee of the Board ("RC").

Global Treasury Risk Management, part of Enterprise Risk Management ("ERM"), provides separate oversight over the identification, communication and management of Global Treasury's risks in support of our business strategy. Global Treasury Risk Management reports to the Chief Risk Office ("CRO"). Global Treasury

Risk Management's responsibilities relative to liquidity risk management include the development and review of liquidity risk policies and guidelines, and development and monitoring of limits related to adherence to the liquidity risk guidelines and associated reporting.

We manage liquidity according to several principles that are equally important to our overall liquidity risk management framework:

Structural liquidity management

addresses liquidity by monitoring and directing the composition of our consolidated statement of condition. In addition, on a regular basis and as described below, our structural

liquidity is evaluated under various stress scenarios.

Tactical liquidity management

addresses our day-to-day funding requirements and is largely driven by changes in our primary source of funding, which are client deposits.

Fluctuations in client deposits may be supplemented with short-term borrowings, repurchase agreements, Federal Home Loan Bank ("FHLB") products and certificates of deposit.

Stress testing includes internal and external liquidity stress testing to support our strategic liquidity risk management practices. Internal regular and ad hoc liquidity stress testing are performed under various severe but plausible scenarios at the consolidated level and at significant subsidiaries, including SSBT. These tests contemplate severe market and idiosyncratic events specific to us under various time horizons and severities. Tests contemplate the impact of material changes in key funding sources, credit ratings, additional collateral requirements, contingent uses of funding, systemic shocks to the financial markets and operational failures based on market and other assumptions specific to us. These stress tests evaluate the expected required level of funding versus available sources in an adverse environment. In addition to internal stress testing performed, we also monitor and perform regulatory stress testing through the LCR and NSFR. As stress testing contemplates potential forward-looking scenarios, results also serve as a trigger to activate specific liquidity stress levels and contingent funding actions.

The CFP is designed to assist senior management with decision-making

associated with any contingency funding response to a possible or actual crisis scenario. The CFP defines roles, responsibilities and

management actions to be taken in the event of deterioration of our liquidity profile caused by either an event specific to us or a broader disruption in the capital markets.

Specific actions are linked to the level of stress indicated by these measures or by management judgment of market conditions.

In managing our liquidity, we employ early warning indicators and metrics intended to detect emerging risks which may result in a liquidity stress, including changes in our stock price and spreads on our long-term debt. Additional metrics that are critical to the management of our consolidated statement of condition and monitored as part of our routine liquidity management include measures of our fungible cash position, purchased wholesale funds, unencumbered liquid assets, deposits and the total of investment securities and loans as a percentage of total client deposits.

Please see State Street's 2025 Form 10-K and our subsequent filings with the SEC for additional information.

‌This Disclosure contains forward-looking statements within the meaning of United States securities laws, including statements about our expectations and plans regarding SSC's and SSBT's liquidity coverage ratio, factors influencing those ratios and their components and our management of those ratios and their components. Forward-looking statements are often, but not always, identified by such forward-looking terminology as "expect," "outlook," "will," "goal," "target," "strategy" "may," "estimate,"

"plan," "intend," "objective," "forecast," "believe," "priority," "anticipate," "seek," and "trend," or similar statements or variations of such terms. These statements are not guarantees of future performance, are inherently uncertain, are based on current assumptions that are difficult to predict and involve a number of risks and uncertainties. Therefore, actual outcomes and results may differ materially from what is expressed in those statements, and those statements should not be relied upon as representing our expectations or assumptions as of any time subsequent to the time this public disclosure is first issued. Important factors that may affect future results and outcomes include, but are not limited to:

We are subject to intense competition, which could negatively affect our profitability;

We are subject to significant pricing pressure and variability in our financial results and our AUC/A and AUM;

We could be adversely affected by political, geopolitical, economic and market conditions, including, for example, as a result of liquidity or capital deficiencies (actual or perceived) by other financial institutions and related market and government actions, changes in U.S.

trade or other policies or those policies of other nations, the ongoing conflicts in Ukraine and in the Middle East, major political shifts domestically or internationally (including the potential for retaliatory actions by governments, market participants or clients based on diverging perspectives or otherwise and, separately, the recent shutdown of the U.S. federal government), actions taken by central banks in an attempt to address prevailing economic conditions, changes in monetary policy or periods of significant volatility in the markets for equity, fixed income and other asset classes globally or within specific markets;

Our investment securities portfolio, consolidated financial condition and consolidated results of operations could be adversely affected by changes in the financial markets, governmental action or monetary policy. For example, among other risks, changes in prevailing interest rates or market conditions have led, and were they to persist or occur in the future could further lead, to decreases in our NII or to portfolio management decisions resulting in reductions in our capital or liquidity ratios;

Our business activities expose us to interest rate risk;

We assume significant credit risk of counterparties, who may also have substantial financial dependencies on other financial institutions, and these credit exposures and concentrations could expose us to financial loss;

If we are unable to effectively manage our capital and liquidity, our financial condition, capital ratios, results of operations and business

prospects could be adversely affected;

Our return of capital to shareholders through common share repurchases and common stock dividends may be variable and is subject to various business and financial factors and regulatory requirements and approvals of our Board of Directors;

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;

Our business and capital-related activities, including common share repurchases, may be adversely affected by regulatory requirements and considerations, including capital, credit and liquidity;

We face extensive and changing government regulation and supervision in the U.S. and Non-U.S. jurisdictions in which we operate, which may increase our costs and compliance risks and may affect our business activities and strategies;

Our businesses may be adversely affected by government enforcement and litigation;

Our risk management framework, models and processes may not be effective in identifying or mitigating risk and reducing the potential for related losses, and a failure or circumvention of our controls and procedures, or errors or delays in our operational and transaction processing, or those of third parties, could have an adverse effect on our business, financial condition, operating results and reputation;

The quantitative models we use to manage our business may contain errors that could adversely impact

our business, financial condition, operating results and regulatory compliance, and lapses in disclosure controls and procedures or internal control over financial reporting could occur, any of which could result in material harm;

Our reputation and business prospects may be damaged if investors in the collective investment pools we sponsor or manage incur substantial losses in these investment pools or are restricted in redeeming their interests in these investment pools;

The impacts of global regulatory requirements and expectations, shifting client preferences, and disclosure requirements related to climate risks and sustainability standards could adversely affect us; and

We may incur losses or face negative impacts on our business as a result of unforeseen events, including terrorist attacks, geopolitical events, acute or chronic physical risk events, including natural disasters, pandemics, global conflicts, or a banking crisis, which may have a negative impact on our business and operations.

Other important factors that could cause actual results to differ materially from those indicated by any forward-looking statements are set forth in our 2025 Annual Report on Form 10-K and our subsequent SEC filings.

We encourage investors to read these filings, particularly the sections on risk factors, for additional information with respect to any forward-looking statements and prior to making any investment decision. The forward-looking statements contained in this Disclosure should not be relied on as representing our expectations or beliefs as of any time subsequent to the time this

Disclosure is first issued, and we do not undertake efforts to revise those forward-looking statements to reflect events after that time.

Disclaimer

State Street Corporation published this content on May 11, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 11, 2026 at 18:06 UTC.