道富集团 2025年度报告

Form10-K 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 1934 during the preceding 12months (orfor such shorter period that the registrant was required to file such reports) and (2)has been subject to such filing requirements 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 of Regulation S-T (§ 232.405 of thischapter) 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 thedefinitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act. 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 accountingstandards provided pursuant to Section 13(a) of the Exchange Act. If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of anerror to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant'sexecutive officers during the relevant recovery period pursuant to § 240.10D-1(b).☐ The aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the per share price ($106.34) at which the common equity was lastsold as of the last business day of the registrant’s most recently completed second fiscal quarter (June30, 2025) was approximately $30.31 billion. STATE STREET CORPORATIONANNUAL REPORT ON FORM 10-K FOR THE YEAR ENDEDDecember31, 2025TABLE OF CONTENTSPageForward-Looking Statements4Risk Factors Summary4PART IItem 1Business6Item 1ARisk Factors21Item 1BUnresolved Staff Comments52Item 1CCybersecurity52Item 2Properties53Item 3Legal Proceedings53Item 4Mine Safety Disclosures53Supplemental ItemInformation about our Executive Officers54PART IIItem 5Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of EquitySecurities56Item 6[Reserved]59Item 7Management’s Discussion and Analysis of Financial Condition and Results of Operations59General59Financial Results and Highlights60Consolidated Results of Operations61Total Revenue61Net Interest Income68Provision for Credit Losses71Expenses71Repositioning Charges72Income Tax Expense72Line of Business Information72Investment Servicing72Investment Management73Financial Condition73Investment Securities74Loans77Risk Management79Credit and Counterparty Risk Management82Liquidity Risk Management87Operational Risk Management92Information Technology Risk Management93Market Risk Management94Model Risk Management101Strategic Risk Management102Capital102Off-Balance Sheet Arrangements112Significant Accounting Estimates112Recent Accounting Developments113Item 7AQuantitative and Qualitative Disclosures About Market Risk114Item 8Financial Statements and Supplementary Data114Report of Independent Registered Public Accounting Firm (PCAOB ID: 42)115Consolidated Statement of Income117Consolidated Statement of Comprehensive Income118Consolidated Statement of Condition119 Consolidated Statement of Changes in Shareholders’ Equity120Consolidated Statement of Cash Flows121Note 1. Summary of Significant Accounting Policies122Note 2. Fair Value124Note 3. Investment Securities130Note 4. Loans and Allowance for Credit Losses135Note5. Goodwill and Other Intangible Assets140Note6. Other Assets142Note7. Deposits142Note 8. Short-Term Borrowings142Note 9. Long-Term Debt144Note 10. Derivative Financial Instruments145Note 11. Offsetting Arrangements149Note 12. Commitments and Guarantees152Note 13. Contingencies153Note 14. Variable Interest Entities154Note 15. Shareholders’ Equity156Note 16. Regulatory Capital158Note 17. Net Interest Income160Note 18. Equity-Based Compensation160Note 19. Employee Benefits162Note 20. Occupancy Expense and Information Systems and Communications Expense162Note 21. Expenses163Note 22. Income Taxes164Note 23. Earnings Per Common Share166Note 24. Line of Business Information166Note 25. Revenue from Contracts with Customers169Note 26. Non-U.S. Activities171Note 27. Parent Company Financial Statements172Supplemental Financial Data174Changes in and Disagreements with Accountants on Accounting and Financial Disclosure178Controls and Procedures178Other Information181Disclosure Regarding Foreign Jurisdictions that Prevent Inspec