道富 2025年季度报告

Form10-Q MA(State or other jurisdiction of incorporation)One Congress StreetBoston,MA(Address of principal executive offices) Depositary Shares, each representing a 1/4,000th ownership interest in a share ofFixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series G, without par valueper share Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of 1934during the preceding 12months (or for such shorter period that the registrant was required to file such reports) and (2)has been subject to such filingrequirements for the past 90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit suchfiles).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 anemerging growth company. See the definitions of "large accelerated filer", "accelerated filer", "smaller reporting company", and "emerging growth company" inRule 12b-2 of the Exchange Act. Large accelerated filer☒Accelerated filer☐Non-accelerated filer☐SmallerreportingcompanyEmerging 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 newor 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 Rule12b-2 of the Exchange Act).Yes☐No☒The number of shares of the registrant’s common stock outstanding as of April 29, 2025 was285,181,612. STATE STREET CORPORATIONQUARTERLY REPORT ON FORM 10-Q FOR THE QUARTERLY PERIOD ENDEDMarch31, 2025 TABLE OF CONTENTS FINANCIAL INFORMATION Management's Discussion and Analysis of Financial Condition and Results of Operations4General4Overview of Financial Results8Consolidated Results of Operations10Total Revenue10Net Interest Income16Provision for Credit Losses19Expenses19Repositioning Charges20Income Tax Expense20Line of Business Information20Investment Servicing20Investment Management21Financial Condition21Investment Securities22Loans25Risk Management26Credit and Counterparty Risk Management26Liquidity Risk Management27Operational Risk Management30Information Technology Risk Management30Market Risk Management30Model Risk Management34Strategic Risk Management35Capital35Off-Balance Sheet Arrangements42Recent Accounting Developments43Quantitative and Qualitative Disclosures About Market Risk44Controls and Procedures44Consolidated Financial Statements45Consolidated Statement of Income (unaudited)45Consolidated Statement of Comprehensive Income (unaudited)46Consolidated Statement of Condition47Consolidated Statement of Changes in Shareholders' Equity (unaudited)48Consolidated Statement of Cash Flows (unaudited)49Note 1. Summary of Significant Accounting Policies50Note 2. Fair Value50Note 3. Investment Securities53Note 4. Loans and Allowance for Credit Losses57Note5. Goodwill and Other Intangible Assets62Note6. Other Assets63Note 7. Derivative Financial Instruments63 Note 8. Offsetting Arrangements66Note 9. Commitments and Guarantees69Note 10. Contingencies69Note 11. Variable Interest Entities71Note 12. Shareholders' Equity72Note 13. Regulatory Capital74Note 14. Net Interest Income76Note 15. Expenses76Note 16. Earnings Per Common Share77Note 17. Line of Business Information77Note 18. Revenue from Contracts with Customers78Note 19. Non-U.S. Activities79Note 20. Subsequent Events79Review Report of Independent Registered Public Accounting Firm80 PART IIItem 2Item 5Item 6 OTHER INFORMATION Unregistered Sales of Equity Securities and Use of ProceedsOther InformationExhibitsSignatures 83838485 We use acronyms and other defined terms for certain business terms and abbreviations, as defined in the acronyms listand glossary following the consolidated financial statements in this Form 10-Q. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONAND RESULTS OF OPERATIONS PART I. FINANCIAL INFORMATION GENERAL contained in this Management's Discussion and Analysisandelsewhere in this Form 10-Q should be read inconjunctionwith the financial and other informationcontainedin our 2024 Form 10-K.Certain previouslyreported amounts presented in this Form 10-Q have beenreclassified to conform to current-period presentation. State Street Corporation is one of the world’s leadingprovidersof financial services to institutional investors,includinginvestment services,markets and financingsolutions and investment management. Our clients - assetmanagersand owners,insurance companies,wealthmanagers, official institutions, and central banks - rely onusto