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Document and Entity Information	3 Months Ended
Mar. 31, 2011	Apr. 29, 2011
Document and Entity Information
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar 31, 2011
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	Q1
Entity Registrant Name	STATE STREET Corp
Entity Central Index Key	0000093751
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		504,038,676

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Consolidated Statement of Income (USD $) In Millions, except Share data in Thousands, unless otherwise specified	3 Months Ended
Mar. 31, 2011	Mar. 31, 2010
Fee revenue:
Servicing fees	$ 1,095	$ 895
Management fees	236	211
Trading services	302	242
Securities finance	66	72
Processing fees and other	92	120
Total fee revenue	1,791	1,540
Net interest revenue:
Interest revenue	734	878
Interest expense	157	217
Net interest revenue	577	661
Gains (Losses) related to investment securities, net:
Net gains from sales of available-for-sale securities	4	192
Losses from other-than-temporary impairment	(35)	(240)
Losses not related to credit	24	143
Gains (Losses) related to investment securities, net	(7)	95
Total revenue	2,361	2,296
Provision for loan losses	(1)	15
Expenses:
Salaries and employee benefits	974	883
Information systems and communications	191	167
Transaction processing services	180	153
Occupancy	107	118
Acquisition and restructuring costs	19	13
Professional services	82	81
Amortization of other intangible assets	49	34
Other	100	130
Total expenses	1,702	1,579
Income before income tax expense	660	702
Income tax expense	189	207
Net income	471	495
Net income available to common shareholders	$ 466	$ 492
Earnings per common share:
Basic	$ 0.94	$ 0.99
Diluted	$ 0.93	$ 0.99
Average common shares outstanding (in thousands):
Basic	497,471	494,588
Diluted	500,980	498,056
Cash dividends declared per share	$ 0.18	$ 0.01

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Consolidated Statement of Condition (USD $) In Millions	3 Months Ended	12 Months Ended
Mar. 31, 2011	Dec. 31, 2010
Assets
Cash and due from banks	$ 2,637	$ 3,311
Interest-bearing deposits with banks	19,984	22,234
Securities purchased under resale agreements	2,253	2,928
Trading account assets	1,832	479
Investment securities available for sale	90,691	81,881
Investment securities held to maturity (fair value of $12,655 and $12,576)	12,253	12,249
Loans and leases (less allowance for losses of $80 and $100)	12,646	11,857
Premises and equipment (net of accumulated depreciation of $3,523 and $3,425)	1,845	1,843
Accrued income receivable	1,850	1,733
Goodwill	5,720	5,597
Other intangible assets	2,644	2,593
Other assets	17,441	13,800
Total assets	171,796	160,505
Deposits:
Noninterest-bearing	23,667	17,464
Interest-bearing-U.S.	2,581	6,957
Interest-bearing-Non-U.S.	81,166	73,924
Total deposits	107,414	98,345
Securities sold under repurchase agreements	7,133	7,599
Federal funds purchased	4,605	7,748
Other short-term borrowings	8,060	8,694
Accrued expenses and other liabilities	15,873	11,782
Long-term debt	9,531	8,550
Total liabilities	152,616	142,718
Commitments and contingencies (note 8)
Shareholders' equity
Preferred stock, no par: 3,500,000 shares authorized; 5,001 shares issued and outstanding	500
Common stock, $1 par: 750,000,000 shares authorized; 503,995,215 and 502,064,454 shares issued	504	502
Surplus	9,416	9,356
Retained earnings	9,013	8,634
Accumulated other comprehensive loss	(238)	(689)
Treasury stock, at cost (401,849 and 420,016 shares)	(15)	(16)
Total shareholders' equity	19,180	17,787
Total liabilities and shareholders' equity	$ 171,796	$ 160,505

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Consolidated Statement of Condition (Parenthetical) (USD $) In Millions, except Share data	Mar. 31, 2011	Dec. 31, 2010
Consolidated Statement of Condition
Investment securities held to maturity, fair value	$ 12,655	$ 12,576
Loans and leases, allowance for losses	80	100
Premises and equipment, accumulated depreciation	$ 3,523	$ 3,425
Preferred stock, no par
Preferred stock, shares authorized	3,500,000	3,500,000
Preferred stock, issued	5,001	0
Preferred stock, shares outstanding	5,001	0
Common stock, par	$ 1	$ 1
Common stock, shares authorized	750,000,000	750,000,000
Common stock, shares issued	503,995,215	502,064,454
Treasury stock, shares	401,849	420,016

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Consolidated Statement of Changes in Shareholders' Equity (USD $) In Millions, except Share data in Thousands	Preferred Stock [Member]	Common Stock [Member]	Surplus [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive (Loss) Income [Member]	Treasury Stock [Member]	Total
Beginning Balance (in shares) at Dec. 31, 2009		495,366				432
Beginning balance at Dec. 31, 2009		$ 495	$ 9,180	$ 7,071	$ (2,238)	$ (17)	$ 14,491
Adjustment for effect of application of provisions of new accounting standard				27	(27)
Balance at January 1, 2010 (in shares)		495,366				432
Balance at January 1, 2010		495	9,180	7,098	(2,265)	(17)	14,491
Comprehensive income:
Net income				495			495
Change in net unrealized loss on available-for-sale securities, net of reclassification adjustment, expected losses from other-than-temporary impairment related to factors other than credit and related taxes					659		659
Change in net unrealized loss on fair value hedges of available-for-sale securities, net of related taxes					(4)		(4)
Expected losses from other-than-temporary impairment on held-to-maturity securities related to factors other than credit, net of related taxes					(50)		(50)
Foreign currency translation, net of related taxes					(227)		(227)
Change in net unrealized losses on cash flow hedges, net of related taxes					2		2
Total comprehensive income				495	380		875
Cash dividends declared				(5)			(5)
Common stock awards and options exercised, including related taxes (in shares)		6,382
Common stock awards and options exercised, including related taxes		7	42				49
Other (in shares)						(3)
Balance (in shares) at Mar. 31, 2010		501,748				429
Balance at Mar. 31, 2010		502	9,222	7,588	(1,885)	(17)	15,410
Beginning Balance (in shares) at Dec. 31, 2010		502,064				420
Beginning balance at Dec. 31, 2010		502	9,356	8,634	(689)	(16)	17,787
Comprehensive income:
Net income				471			471
Change in net unrealized loss on available-for-sale securities, net of reclassification adjustment, expected losses from other-than-temporary impairment related to factors other than credit and related taxes					67		67
Change in net unrealized loss on fair value hedges of available-for-sale securities, net of related taxes					15		15
Expected losses from other-than-temporary impairment on held-to-maturity securities related to factors other than credit, net of related taxes					3		3
Foreign currency translation, net of related taxes					360		360
Change in net unrealized losses on cash flow hedges, net of related taxes					(1)		(1)
Change in minimum pension liability, net of related taxes					7		7
Total comprehensive income				471	451		922
Preferred stock issued	500						500
Cash dividends declared				(92)			(92)
Common stock awards and options exercised, including related taxes (in shares)		1,931
Common stock awards and options exercised, including related taxes		2	71				73
Other (in shares)						(18)
Other			(11)			1	(10)
Balance (in shares) at Mar. 31, 2011		503,995				402
Balance at Mar. 31, 2011	$ 500	$ 504	$ 9,416	$ 9,013	$ (238)	$ (15)	$ 19,180

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Consolidated Statement of Changes in Shareholders' Equity (Parenthetical) (USD $) In Millions, except Per Share data	3 Months Ended
Mar. 31, 2011	Mar. 31, 2010
Consolidated Statement of Changes in Shareholders' Equity
Change in net unrealized loss on available-for-sale securities, reclassification adjustment and expected losses from other-than-temporary impairment related to factors other than credit, related taxes	$ 48	$ 395
Change in net unrealized loss on fair value hedges of available-for-sale securities, related taxes	10	(5)
Expected losses from other-than-temporary impairment on held-to-maturity securities related to factors other than credit, related taxes	2	(30)
Foreign currency translation, related taxes	(23)	80
Change in net unrealized loss on cash flow hedges, related taxes	1	(1)
Change in minimum pension liability, taxes	4
Cash dividends, common stock per share	$ 0.18	$ 0.01
Common stock awards and options exercised, related taxes	$ (4)	$ (11)

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Consolidated Statement of Cash Flows (USD $) In Millions	3 Months Ended
Mar. 31, 2011	Mar. 31, 2010
Operating Activities:
Net income	$ 471	$ 495
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred income tax expense	10	109
Amortization of other intangible assets	49	34
Other non-cash adjustments for depreciation, amortization and accretion	10	(148)
(Gains) Losses related to investment securities, net	7	(95)
Change in trading account assets, net	(1,353)	1
Change in accrued income receivable	(117)	(66)
Change in collateral deposits	(1,981)	783
Change in trading liabilities, net	1,440
Other, net	116	690
Net cash (used in) provided by operating activities	(1,348)	1,803
Investing Activities:
Net decrease in interest-bearing deposits with banks	2,250	2,363
Net decrease in securities purchased under resale agreements	675	473
Proceeds from sales of available-for-sale securities	3,935	5,726
Proceeds from maturities of available-for-sale securities	7,329	11,371
Purchases of available-for-sale securities	(19,008)	(16,528)
Proceeds from maturities of held-to-maturity securities	629	1,185
Purchases of held-to-maturity securities	(452)	(178)
Net increase in loans	(775)	(1,578)
Business acquisitions, net of cash acquired	(77)
Purchases of equity investments and other long-term assets	(25)	(25)
Purchases of premises and equipment	(89)	(25)
Other, net	14	137
Net cash (used in) provided by investing activities	(5,594)	2,921
Financing Activities:
Net increase (decrease) in time deposits	(4,661)	1,970
Net increase (decrease) in all other deposits	13,730	(1,696)
Net decrease in short-term borrowings	(4,243)	(5,480)
Proceeds from issuance of long-term debt, net of issuance costs	1,986
Payments for long-term debt and obligations under capital leases	(1,012)	(23)
Proceeds from issuance of preferred stock	500
Proceeds from exercises of common stock options	30	5
Repurchases of common stock for employee tax withholding	(57)	(39)
Payments for cash dividends	(5)	(5)
Net cash (used in) provided by financing activities	6,268	(5,268)
Net decrease	(674)	(544)
Cash and due from banks at beginning of period	3,311	2,641
Cash and due from banks at end of period	$ 2,637	$ 2,097

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Basis of Presentation	3 Months Ended
Mar. 31, 2011
Basis of Presentation
Basis of Presentation	Note 1. Basis of Presentation The accounting and financial reporting policies of State Street Corporation conform to U.S. generally accepted accounting principles, referred to as GAAP. State Street Corporation, the parent company, is a financial holding company headquartered in Boston, Massachusetts. Unless otherwise indicated or unless the context requires otherwise, all references in these condensed notes to consolidated financial statements to "State Street," "we," "us," "our" or similar references mean State Street Corporation and its subsidiaries on a consolidated basis. Our principal banking subsidiary, State Street Bank and Trust Company, is referred to as State Street Bank. The consolidated financial statements accompanying these condensed notes are unaudited. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, which are necessary for a fair statement of the consolidated results of operations in these financial statements, have been made. Certain previously reported amounts have been reclassified to conform to current period classifications as presented in this Form 10-Q. Events occurring subsequent to the date of our consolidated statement of condition were evaluated for potential recognition or disclosure in our consolidated financial statements through the date we filed this Form 10-Q with the SEC. The preparation of consolidated financial statements requires management to make estimates and assumptions in the application of certain of our accounting policies that materially affect the reported amounts of assets, liabilities, revenue and expenses. As a result of unanticipated events or circumstances, actual results could differ from those estimates. Amounts dependent on subjective or complex judgments in the application of accounting policies considered by management to be relatively more significant in this regard are those associated with our accounting for fair value measurements; interest revenue recognition and other-than-temporary impairment; and goodwill and other intangible assets. Among other effects, unanticipated events or circumstances could result in future impairment of investment securities, goodwill or other intangible assets, and the recognition of lower amounts of interest revenue from discount accretion related to certain investment securities. Our consolidated statement of condition at December 31, 2010 has been derived from the audited financial statements at that date, but does not include all footnotes required by GAAP for a complete set of financial statements. The accompanying consolidated financial statements and these condensed notes should be read in conjunction with the financial and risk factors information included in our 2010 Form 10-K, which we previously filed with the SEC. In April 2011, the FASB issued an amendment to GAAP related to the identification and disclosure of troubled debt restructurings. The amendment clarifies that the inability of a borrower to access funds at a market rate for debt with characteristics similar to the restructured debt may be an indicator of a concession being granted. The amendment also clarifies that when evaluating whether a borrower is experiencing financial difficulty, a creditor must consider whether a borrower's default is probable on any of its debt in the foreseeable future, rather than wait for an actual default to occur. The amendment is effective, for State Street, as of July 1, 2011, and applies retroactively to restructurings occurring on or after January 1, 2011. Adoption of the amendment is not expected to have a material effect on our consolidated financial statements.

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Acquisitions	3 Months Ended
Mar. 31, 2011
Acquisitions
Acquisitions	Note 2. Acquisitions On January 10, 2011, we completed our acquisition of Bank of Ireland's asset management business, or BIAM, in a cash acquisition financed through available capital. We acquired BIAM to expand our overall presence in Ireland, where we already provide services to institutional clients, to provide a range of investment management products. In connection with our acquisition of BIAM, we recorded $31 million of goodwill and $27 million of other intangible assets in our consolidated statement of condition, and added approximately $23 billion to our assets under management as of March 31, 2011. The assets under management are not recorded in our consolidated financial statements. Our allocation of the purchase price was preliminary as of March 31, 2011, and is subject to future adjustment over the measurement period as information needed to measure the fair values of certain assets and liabilities is obtained. Results of operations of the acquired BIAM business are included in our consolidated financial statements beginning on January 10, 2011. In May 2010, we completed our acquisition of Intesa Sanpaolo's securities services business in a cash acquisition financed through available capital. Results of operations of the acquired Intesa business have been included in our consolidated financial statements from the date the acquisition was completed. We accounted for the Intesa transaction using the acquisition method of accounting, and the assets acquired, liabilities assumed and consideration paid were recorded in our consolidated statement of condition at their estimated fair values on the acquisition date. In connection with the acquisition, we recorded $932 million of goodwill and $848 million of intangible assets, including assets related to customer relationships and core deposits, in our consolidated statement of condition. The goodwill, substantially all of which is not expected to be tax deductible, represents the expected long-term value of cost savings, growth opportunities and business efficiencies created by the integration of the acquired Intesa business. In connection with the acquisition, we may be entitled to adjust the purchase price, to allow for a return of a portion of the purchase price, should we lose the business of certain key clients during a defined period subsequent to the closing of the transaction. This contingent asset, which was approximately $58 million as of March 31, 2011, compared to approximately $72 million as of December 31, 2010, will be re-measured to fair value at each reporting date through the end of the defined purchase price adjustment period, with any changes in its fair value recorded in our consolidated statement of income. During the fourth quarter of 2010, Italian tax authorities issued an assessment for taxes, penalties and interest of approximately €130 million to an Italian banking subsidiary acquired by us in connection with the acquisition. The assessment relates to a pre-acquisition tax year (2005). State Street is indemnified for this liability under the acquisition agreement, which further requires the indemnity obligation to be collateralized in the event of a tax assessment. We are negotiating the terms of the delivery and maintenance of the collateral. We have not accrued for the assessment as of March 31, 2011. The Italian banking subsidiary is also currently under audit by the Italian tax authorities for the 2006 tax year.

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Investment Securities

3 Months Ended

Mar. 31, 2011

Investment Securities

Investment Securities

Note 3. Investment Securities

The following table presents the amortized cost and fair value, and associated unrealized gains and losses, of investment securities as of the dates indicated:


	March 31, 2011		December 31, 2010
	Amortized Cost		Gross Unrealized			Fair Value		Amortized Cost	Gross Unrealized		Fair Value
(In millions)		Gains		Losses				Gains	Losses
Available for sale:
U.S. Treasury and federal agencies:
Direct obligations	$	7,440		$	19		$	2	$	7,457		$	7,505	$	74	$	2	$	7,577
Mortgage-backed securities		26,627			324			74		26,877			23,398		325		83		23,640
Asset-backed securities:
Student loans⁽¹⁾		16,442			99			617		15,924			14,975		93		652		14,416
Credit cards		8,500			57			18		8,539			7,429		53		31		7,451
Sub-prime		2,083			4			333		1,754			2,161		3		346		1,818
Other		1,484			186			73		1,597			1,508		174		94		1,588

Total asset-backed securities		28,509			346			1,041		27,814			26,073		323		1,123		25,273

Non-U.S. debt securities:
Mortgage-backed securities		8,105			81			46		8,140			6,258		82		46		6,294
Asset-backed securities		4,577			15			50		4,542			2,983		16		79		2,920
Government securities		2,770			—			—		2,770			2,913		—		—		2,913
Other		917			31			1		947			887		33		2		918

Total non-U.S. debt securities		16,369			127			97		16,399			13,041		131		127		13,045

State and political subdivisions		6,667			117			178		6,606			6,706		102		204		6,604
Collateralized mortgage obligations		1,996			55			17		2,034			1,828		49		16		1,861
Other U.S. debt securities		2,620			114			17		2,717			2,541		117		18		2,640
U.S. equity securities		631			3			—		634			1,115		—		—		1,115
Non-U.S. equity securities		150			3			—		153			122		5		1		126

Total	$	91,009		$	1,108		$	1,426	$	90,691		$	82,329	$	1,126	$	1,574	$	81,881

Held to maturity:
U.S. Treasury and federal agencies:
Mortgage-backed securities	$	364		$	24				$	388		$	413	$	26			$	439
Asset-backed securities		53			—		$	5		48			64		—	$	5		59
Non-U.S. debt securities:
Mortgage-backed securities		6,211			169			145		6,235			6,332		166		160		6,338
Asset-backed securities		644			20			4		660			646		18		3		661
Government securities		452			—			—		452			—		—		—		—
Other		217			—			1		216			208		—		2		206

Total non-U.S. debt securities		7,524			189			150		7,563			7,186		184		165		7,205

State and political subdivisions		126			3			—		129			134		3		—		137
Collateralized mortgage obligations		4,186			359			18		4,527			4,452		328		44		4,736

Total	$	12,253		$	575		$	173	$	12,655		$	12,249	$	541	$	214	$	12,576

⁽¹⁾	Substantially composed of securities guaranteed by the federal government with respect to the payment of principal and interest.

Aggregate investment securities carried at $44.50 billion and $44.81 billion at March 31, 2011 and December 31, 2010, respectively, were designated as pledged for public and trust deposits, short-term borrowings and for other purposes as provided by law.

The following table presents contractual maturities of debt investment securities as of March 31, 2011:

(In millions)

Under 1
Year

1 to 5
Years

6 to 10
Years

Over 10
Years

Available for sale:

U.S. Treasury and federal agencies:

Direct obligations

3,166

2,287

1,496

508

Mortgage-backed securities

1,258

10,898

14,709

Asset-backed securities:

Student loans

124

3,714

8,502

3,584

Credit cards

1,113

6,183

1,243

—

Sub-prime

959

451

331

Other

110

852

335

300

Total asset-backed securities

2,306

11,200

10,093

4,215

Non-U.S. debt securities

3,077

4,422

2,916

5,984

State and political subdivisions

331

2,145

2,558

1,572

Collateralized mortgage obligations

1,082

342

538

Other U.S. debt securities

148

1,871

657

Total

9,112

24,265

28,960

27,567

Held to maturity:

U.S. Treasury and federal agencies:

Mortgage-backed securities

136

187

Asset-backed securities

—

Non-U.S. debt securities

1,154

2,028

326

4,016

State and political subdivisions

102

—

Collateralized mortgage obligations

395

2,019

408

1,364

Total

1,585

4,184

870

5,614

The maturities of asset-backed securities, mortgage-backed securities and collateralized mortgage obligations are based on expected principal payments.

Impairment

We conduct periodic reviews of individual securities to assess whether other-than-temporary impairment exists. Impairment exists when the current fair value of an individual security is below its amortized cost basis. For debt securities available for sale and held to maturity, other-than-temporary impairment is recorded in our consolidated statement of income when management intends to sell (or may be required to sell) the securities before they recover in value, or when management expects the present value of cash flows expected to be collected from the securities to be less than the amortized cost of the impaired security (a credit loss).

Our review of impaired securities generally includes:

•

the identification and evaluation of securities that have indications of possible other-than-temporary impairment, such as issuer-specific concerns including deteriorating financial condition or bankruptcy;

•

the analysis of expected future cash flows of securities, based on quantitative and qualitative factors;

•

the analysis of the collectability of those future cash flows, including information about past events, current conditions and reasonable and supportable forecasts;

•

the analysis of individual impaired securities, including consideration of the length of time the security has been in an unrealized loss position, the anticipated recovery period, and the magnitude of the overall price decline;

•

discussion and evaluation of factors or triggers that could cause individual securities to be deemed other-than-temporarily impaired and those that would not support other-than-temporary impairment; and

•

documentation of the results of these analyses.

Factors considered in determining whether impairment is other than temporary include:

•

the length of time the security has been impaired;

•

the severity of the impairment;

•

the cause of the impairment and the financial condition and near-term prospects of the issuer;

•

activity in the market of the issuer which may indicate adverse credit conditions; and

•

our intention not to sell, and the likelihood that we will not be required to sell, the security for a period of time sufficient to allow for recovery in value.

The substantial majority of our investment securities portfolio is composed of debt securities. Debt securities that are not deemed to be credit-impaired are subject to additional management analysis to assess whether management intends to sell, or, more likely than not, would not be required to sell, the security before the expected recovery to its amortized cost basis. In most cases, management has no intent to sell, and believes that it is more likely than not that it will not be required to sell, the security before recovery to its amortized cost basis. Where the decline in the security's fair value is deemed to be other than temporary, the loss is recorded in our consolidated statement of income.

A critical component of the evaluation for other-than-temporary impairment of our debt securities is the identification of credit-impaired securities for which management does not expect to receive cash flows sufficient to recover the entire amortized cost basis of the security. The following describes our process for identifying credit impairment in security types with the most significant unrealized losses as of March 31, 2011.

Mortgage- and Asset-Backed Securities

For recent vintages of U.S. mortgage-backed securities (in particular, sub-prime first-lien mortgages, "Alt-A" mortgages and home equity lines of credit (2006 and 2007 originations) that have significant unrealized losses as a percentage of their amortized cost), credit impairment is assessed using cash flow models, tailored for each security, that estimate the future cash flows on the underlying mortgages, using the security-specific collateral and transaction structure. Estimates of future cash flows are subject to management judgment. The future cash flows and performance of our portfolio of U.S. mortgage-backed securities are a function of a number of factors, including, but not limited to, the condition of the U.S. economy, the condition of the U.S. residential mortgage markets, and the level of loan defaults, prepayments and loss severities. Management's estimates of future losses also consider the underwriting and historical performance of our specific securities.

Loss rates are determined for each security and take into consideration collateral type, vintage, borrower profile, third-party guarantees, current levels of subordination, geography and other factors. By using these factors, management develops a roll-rate analysis to gauge future expected credit losses based on current delinquencies and expected future loss trends. Based on management's analysis, we believe that the most significant exposure to credit losses resides in our 2006 and 2007 U.S. residential mortgage-backed securities portfolio. Critical assumptions with respect to the aforementioned 2006 and 2007 vintages included:


	Sub-Prime			Alt-A		Non-Agency Prime
March 31, 2011:
Prepayment rate		2-3	%		6-7	%	7-9	%
Cumulative loss estimates		33			22		13
Loss severity⁽¹⁾		67			50		49
Peak-to-trough housing price decline⁽²⁾		36-41			36-41		36-41

	Sub-Prime			Alt-A		Non-Agency Prime
December 31, 2010:
Prepayment rate		2-3	%		7	%	7-10	%
Cumulative loss estimates		33			21		13
Loss severity⁽¹⁾		67			49		49
Peak-to-trough housing price decline⁽²⁾		35-40			35-40		35-40

⁽¹⁾	Loss severity rates consider the initial loan-to-value ratio, lien position, geography, expected collateral value and other factors.

⁽²⁾	Management's expectation of the Case-Shiller National Home Price Index.

For securities that relate to these vintages, other-than-temporary impairment has been recorded on certain assets when both fair value was below carrying value and a credit loss existed. During the three months ended March 31, 2011, we recorded credit-related other-than-temporary impairment on securities in these vintages of $2 million, with $1 million related to sub-prime first-lien mortgages and $1 million related to "Alt-A" mortgages. During the three months ended March 31, 2010, we recorded credit-related other-than-temporary impairment on securities in these vintages of $66 million, with $1 million related to sub-prime first-lien mortgages, $20 million related to "Alt-A" mortgages and $45 million related to non-agency prime mortgages.

Asset-backed securities collateralized by student loans are primarily composed of securities collateralized by Federal Family Education Loan Program, or FFELP, loans. FFELP loans benefit from a federal government guarantee of at least 97%, with additional credit support provided in the form of overcollateralization, subordination and excess spread, which collectively total in excess of 100%. Accordingly, FFELP loan-backed securities are not exposed to traditional consumer credit risk. Other risk factors are considered in our evaluation of impairment.

Non-U.S. mortgage-backed securities are composed primarily of U.K., Dutch, Australian and other European securities collateralized by residential mortgages. Our evaluation of impairment considers the location of the underlying collateral, collateral enhancement and structural features, expected credit losses under stressed conditions and the outlook with respect to housing prices for the country in which the collateral resides. Where appropriate, any potential loss after consideration of the above-referenced factors is further evaluated to determine whether any other-than-temporary impairment exists.

In assessing other-than-temporary impairment, we may from time to time place reliance on support from third-party financial guarantors for certain asset-backed and municipal (state and political subdivisions) securities. Factors taken into consideration when determining the level of support include the guarantor's credit rating and management's assessment of the guarantor's financial condition. For those guarantors management deems to be under financial duress, we assume an immediate default by those guarantors, with a modest recovery of claimed amounts (up to 20%). In addition, for various forms of collateralized securities, management considers the liquidation value of the underlying collateral based on expected housing prices and other relevant factors.

The assumptions presented above are used by management to identify those securities which are subject to further analysis of potential credit losses. Since the assumptions are based on the unique characteristics of each security, management uses a range of point estimates for prepayment speeds and housing prices which reflect the collateral profile of the securities within each asset class. In addition, in measuring expected credit losses, the individual characteristics of each security are examined to determine whether any additional factors would increase or mitigate the expected loss. Once losses are determined, the timing of the loss will also affect the ultimate other-than-temporary impairment, since the loss is ultimately subject to a discount commensurate with the purchase yield of the security. Primarily as a result of rising delinquencies and management's continued expectation of declining housing prices, we recorded other-than-temporary impairment of $11 million during the three months ended March 31, 2011.

After a review of the investment portfolio, taking into consideration current economic conditions, adverse situations that might affect our ability to fully collect interest and principal, the timing of future payments, the credit quality and performance of the collateral underlying asset-backed securities and other relevant factors, and excluding the securities for which other-than-temporary impairment was recorded during the three months ended March 31, 2011, management considers the aggregate decline in fair value of the remaining securities and the resulting gross pre-tax unrealized losses of $1.60 billion related to 2,059 securities as of March 31, 2011 to be temporary and not the result of any material changes in the credit characteristics of the securities.

The following tables present the aggregate fair values of investment securities with a continuous unrealized loss position for less than 12 months and those that have been in a continuous unrealized loss position for longer than 12 months, as of the dates indicated:


	Less than 12 months		12 months or longer			Total
March 31, 2011 (In millions)	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses	Fair Value		Gross Unrealized Losses
Available for sale:
U.S. Treasury and federal agencies:
Direct obligations	$	1,058		$	1		$	100	$	1		$	1,158	$	2
Mortgage-backed securities		6,519			71			426		3			6,945		74
Asset-backed securities:
Student loans		1,681			18			9,461		599			11,142		617
Credit cards		972			4			2,063		14			3,035		18
Sub-prime		—			—			1,703		333			1,703		333
Other		35			4			453		69			488		73

Total asset-backed securities		2,688			26			13,680		1,015			16,368		1,041

Non-U.S. debt securities		3,949			26			1,234		71			5,183		97
State and political subdivisions		837			17			1,791		161			2,628		178
Collateralized mortgage obligations		422			6			33		11			455		17
Other U.S. debt securities		474			9			63		8			537		17

Total	$	15,947		$	156		$	17,327	$	1,270		$	33,274	$	1,426


Held to maturity:
Asset-backed securities							$	47	$	5		$	47	$	5
Non-U.S. debt securities	$	1,525		$	65			944		85			2,469		150
Collateralized mortgage obligations		133			3			300		15			433		18

Total	$	1,658		$	68		$	1,291	$	105		$	2,949	$	173


	Less than 12 months		12 months or longer			Total
December 31, 2010 (In millions)	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses	Fair Value		Gross Unrealized Losses
Available for sale:
U.S. Treasury and federal agencies:
Direct obligations							$	153	$	2		$	153	$	2
Mortgage-backed securities	$	6,637		$	81			431		2			7,068		83
Asset-backed securities:
Student loans		1,980			25			8,457		627			10,437		652
Credit cards		1,268			5			2,396		26			3,664		31
Sub-prime		—			—			1,768		346			1,768		346
Other		90			1			458		93			548		94

Total asset-backed securities		3,338			31			13,079		1,092			16,417		1,123

Non-U.S. debt securities		4,436			26			1,089		101			5,525		127
State and political subdivisions		1,097			19			1,967		185			3,064		204
Collateralized mortgage obligations		494			5			109		11			603		16
Other U.S. debt securities		360			8			61		10			421		18
U.S. equity securities		9			1			—		—			9		1

Total	$	16,371		$	171		$	16,889	$	1,403		$	33,260	$	1,574


Held to maturity:
Asset-backed securities							$	53	$	5		$	53	$	5
Non-U.S. debt securities	$	1,667		$	74			930		91			2,597		165
Collateralized mortgage obligations		125			3			575		41			700		44

Total	$	1,792		$	77		$	1,558	$	137		$	3,350	$	214

The following table presents realized gains and losses related to investment securities for the three months ended March 31:


(In millions)	2011			2010
Gross realized gains from sales of available-for-sale securities	$	7			$	198
Gross realized losses from sales of available-for-sale securities		(3	)			(6	)

Gross losses from other-than-temporary impairment		(35	)			(240	)
Losses not related to credit		24				143

Net impairment losses		(11	)			(97	)

Gains (Losses) related to investment securities, net	$	(7	)		$	95


Impairment associated with expected credit losses	$	(5	)		$	(89	)
Impairment associated with adverse changes in timing of expected future cash flows		(6	)			(8	)

Net impairment losses	$	(11	)		$	(97	)

The following summary presents activity with respect to credit-related losses recognized in our consolidated statement of income associated with securities considered other-than-temporarily impaired:


(In millions)
Balance at December 31, 2010	$	63
Plus expected credit-related losses for which other-than-temporary impairment was not previously recognized		3
Plus expected credit-related losses for which other-than-temporary impairment was previously recognized		8

Balance at March 31, 2011	$	74

The impairment losses were largely related to non-agency securities collateralized by mortgages, which management concluded had experienced credit losses based on the present value of the securities' expected future cash flows.

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Loans and Leases

3 Months Ended

Mar. 31, 2011

Loans and Leases

Loans and Leases

Note 4. Loans and Leases

The following table presents our recorded investment in loans and leases, by segment and class, as of the dates indicated:


(In millions)	March 31, 2011			December 31, 2010
Institutional:
Investment funds:
U.S.	$	6,158			$	5,316
Non-U.S.		1,498				1,478
Commercial and financial:
U.S.		703				540
Non-U.S.		213				190
Purchased receivables:
U.S.		631				728
Non-U.S.		1,351				1,471
Lease financing:
U.S.		415				417
Non-U.S.		1,061				1,053

Total institutional		12,030				11,193
Commercial real estate:
U.S.		696				764

Total loans and leases		12,726				11,957
Allowance for loan losses		(80	)			(100	)

Loans and leases, net of allowance for loan losses	$	12,646			$	11,857

Aggregate short-duration advances to our clients included in the institutional segment were $3.64 billion and $2.63 billion at March 31, 2011 and December 31, 2010, respectively. These advances, which we provide in support of clients' investment activities associated with securities settlement, fluctuate based on the volume of securities transactions, and are largely short-term in nature.

The following tables present our recorded investment in each class of loans and leases by credit quality indicator as of the dates indicated:


	Institutional		Commercial Real Estate
March 31, 2011 (In millions)	Investment Funds		Commercial and Financial			Purchased Receivables		Lease Financing	Property Development		Other Acquired Credit- Impaired			Other		Total Loans and Leases
Investment grade	$	7,628		$	821		$	1,982	$	1,304		$	2		$	3	$	49	$	11,789
Speculative		28			45			—		172			365			47		108		765
Substandard		—			50			—		—			—			—		—		50
Doubtful		—			—			—		—			82			40		—		122

Total	$	7,656		$	916		$	1,982	$	1,476		$	449		$	90	$	157	$	12,726


	Institutional		Commercial Real Estate
December 31, 2010 (In millions)	Investment Funds		Commercial and Financial			Purchased Receivables		Lease Financing	Property Development		Property Development Acquired- Credit Impaired			Other Acquired Credit- Impaired		Other	Total Loans and Leases
Investment grade	$	6,674		$	579		$	2,199	$	1,279		$	3				$	3	$	49	$	10,786
Speculative		120			101			—		191			362					47		108		929
Substandard		—			50			—		—			—					—		—		50
Doubtful		—			—			—		—			86		$	42		49		15		192

Total	$	6,794		$	730		$	2,199	$	1,470		$	451		$	42	$	99	$	172	$	11,957

Loans and leases are grouped in the tables presented above into the rating categories that align with our internal risk-rating framework. Management considers the ratings to be current as of March 31, 2011. We use an internal risk-rating system to assess the risk of credit loss for each loan or lease. This risk-rating process incorporates the use of risk-rating tools in conjunction with management judgment. Qualitative and quantitative inputs are captured in a systematic manner, and following a formal review and approval process, an internal credit rating based on our credit scale is assigned. In assessing the risk rating assigned to each individual loan or lease, among the factors considered are the borrower's debt capacity, collateral coverage, payment history and delinquency experience, financial flexibility and earnings strength, the expected amounts and sources of repayment, the level and nature of contingencies, if any, and the industry and geography in which the borrower operates. These factors are based on an evaluation of historical and current information, and involve subjective assessment and interpretation. Credit counterparties are evaluated and risk-rated on an individual basis at least annually.

During the three months ended March 31, 2011, we completed foreclosure on an acquired credit-impaired property development loan with a recorded investment of $42 million, and took possession of the underlying collateral, which consisted of undeveloped land. The property is recorded in other assets as other real estate owned in our consolidated statement of condition at its fair value of $22 million. This fair value is net of estimated costs to sell the property. When we took possession of the collateral, we charged off our recorded investment in the loan and the related allowance for loan losses of $19 million, and as a result this foreclosure had no impact on our first-quarter 2011 consolidated statement of income.

The following table presents our recorded investment in loans and leases and the related allowance for loan losses, disaggregated based on our impairment methodology, as of the dates indicated:


	Institutional		Commercial Real Estate			Total Loans and Leases
	March 31, 2011		December 31, 2010			March 31, 2011		December 31, 2010	March 31, 2011		December 31, 2010
(In millions)
Loans and leases:
Individually evaluated for impairment	$	113		$	112		$	606	$	623		$	719	$	735
Collectively evaluated for impairment		11,917			11,081			—		—			11,917		11,081
Loans acquired with deteriorated credit quality		—			—			90		141			90		141

Ending balance	$	12,030		$	11,193		$	696	$	764		$	12,726	$	11,957

Allowance for loan losses:
Individually evaluated for impairment							$	24	$	24		$	24	$	24
Collectively evaluated for impairment	$	31		$	31			—		—			31		31
Loans acquired with deteriorated credit quality		—			—			25		45			25		45

Total	$	31		$	31		$	49	$	69		$	80	$	100

The following table presents our recorded investment in impaired loans and leases for the dates or periods indicated:


	As of March 31, 2011		Three Months Ended March 31, 2011			As of December 31, 2010
(In millions)	Recorded Investment		Unpaid Principal Balance			Related Allowance⁽¹⁾		Average Recorded Investment	Interest Revenue Recognized		Recorded Investment			Unpaid Principal Balance		Related Allowance⁽¹⁾
With no related allowance recorded:
CRE—property development	$	204		$	235				$	205		$	4		$	209	$	240
CRE—property development—acquired credit-impaired		—			34					—			—			—		34
CRE—other—acquired credit-impaired		15			48					16			—			16		47
CRE—other		12			14					14			1			27		29

With an allowance recorded:
CRE—property development		80			116		$	24		79			—			79		113	$	24
CRE—property development—acquired credit-impaired		—			—			—		19			—			42		47		19
CRE—other—acquired credit-impaired		75			84			25		76			—			83		100		26
CRE—other		7			9			—		7			—			7		9		—

Total CRE	$	393		$	540		$	49	$	416		$	5		$	463	$	619	$	69

⁽¹⁾	As of both March 31, 2011 and December 31, 2010, there was an additional allowance for loan losses of $31 million associated with loans and leases that were not impaired.

As of March 31, 2011, we held an aggregate of approximately $302 million of commercial real estate, or CRE, loans which were modified in troubled debt restructurings, compared to $307 million as of December 31, 2010. No impairment loss was recognized upon restructuring of the loans, as the discounted cash flows of the modified loans exceeded the carrying amount of the original loans as of the modification date.

There were no institutional loans or leases 90 days or more contractually past-due as of March 31, 2011 or December 31, 2010. Although a portion of the CRE loans was 90 days or more contractually past-due as of March 31, 2011 and December 31, 2010, we do not report them as past-due loans pursuant to specialized GAAP.

The following table presents the components of our recorded investment in loans and leases on non-accrual status as of the dates indicated:


(In millions)	March 31, 2011		December 31, 2010
Commercial Real Estate:
Property development	$	80		$	79
Property development—acquired credit-impaired		—			42
Other—acquired credit-impaired		13			22
Other		—			15

Total	$	93		$	158

The loans presented in the table above were placed on non-accrual status by management because the yield associated with those loans was deemed to be non-accretable, based on the expected future collection of principal and interest from the loans.

The following table presents activity in the allowance for loan losses for the three months ended March 31:


(In millions)		2011			2010
	Institutional			Commercial Real Estate			Total Loans and Leases		Total Loans and Leases
Allowance for loan losses:
Beginning balance		$	31			$	69		$	100		$	79
Charge-offs			—				(19	)		(19	)		(3	)
Provisions			—				(1	)		(1	)		15

Ending balance		$	31			$	49		$	80		$	91

The charge-offs recorded in 2011 were related to the previously described foreclosure on an acquired credit-impaired loan. The majority of the provision for loan losses recorded in 2010 resulted from a revaluation of the collateral supporting a CRE loan.

Loans and leases are reviewed on a regular basis, and any provisions for loan losses that are recorded reflect management's estimate of the amount necessary to maintain the allowance for loan losses at a level considered appropriate to absorb estimated probable credit losses inherent in the loan and lease portfolio. With respect to CRE loans, which are reviewed quarterly, management also considers its expectations with respect to future cash flows from those loans. These expectations are based, among other things, on an assessment of economic conditions, including conditions in the commercial real estate market and other factors.

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Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2011

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

Note 5. Goodwill and Other Intangible Assets

The following table presents changes in the carrying amount of goodwill for the three months ended March 31, 2010 and 2011:


(In millions)	Investment Servicing			Investment Management			Total
Balance at December 31, 2009	$	4,544			$	6		$	4,550
Foreign currency translation, net		(35	)			—			(35	)

Balance at March 31, 2010	$	4,509			$	6		$	4,515

Balance at December 31, 2010	$	5,591			$	6		$	5,597
Acquisition of BIAM		—				31			31
Foreign currency translation, net		92				—			92

Balance at March 31, 2011	$	5,683			$	37		$	5,720

The following table presents changes in the net carrying amount of other intangible assets for the three months ended March 31:


	2011			2010
(In millions)	Investment Servicing			Investment Management			Total		Investment Servicing		Investment Management			Total
Beginning balance	$	2,559			$	34		$	2,593		$	1,760			$	50		$	1,810
Acquisition of BIAM		—				27			27			—				—			—
Amortization		(46	)			(3	)		(49	)		(32	)			(2	)		(34	)
Foreign currency translation, net		70				1			71			(14	)			(2	)		(16	)
Other		—				2			2			—				8			8

Ending balance	$	2,583			$	61		$	2,644		$	1,714			$	54		$	1,768

The following table presents the gross carrying amount, accumulated amortization and net carrying amount of other intangible assets as of March 31, 2011, and the net carrying amount as of December 31, 2010:


	March 31, 2011		December 31, 2010
(In millions)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Net Carrying Amount
Customer relationships	$	2,428		$	(565	)	$	1,863	$	1,821
Core deposits		724			(92	)		632		627
Other		219			(70	)		149		145

Total	$	3,371		$	(727	)	$	2,644	$	2,593

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Other Assets

3 Months Ended

Mar. 31, 2011

Other Assets

Other Assets

Note 6. Other Assets

The following table presents the components of other assets as of the dates indicated:


(In millions)	March 31, 2011		December 31, 2010
Unrealized gains on derivative financial instruments	$	6,365		$	5,255
Collateral deposits		5,232			3,251
Deferred tax assets, net of valuation allowance		1,725			1,786
Investments in joint ventures and other unconsolidated entities		966			927
Income taxes receivable		641			530
Accounts receivable		1,047			403
Prepaid expenses		374			382
Other		1,091			1,266

Total	$	17,441		$	13,800

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Long-Term Debt	3 Months Ended
Mar. 31, 2011
Long-Term Debt
Long-Term Debt	Note 7. Long-Term Debt In March 2011, we issued an aggregate of $2 billion of senior notes, composed of $1 billion of 2.875% notes due March 7, 2016, $750 million of 4.375% notes due March 7, 2021 and $250 million of floating-rate notes due March 7, 2014. Interest on the 2.875% notes and the 4.375% notes is payable semi-annually in arrears on March 7 and September 7 of each year, beginning on September 7, 2011. Interest on the floating-rate notes is payable quarterly in arrears on March 7, June 7, September 7 and December 7 of each year, beginning on June 7, 2011. In February 2011, we issued approximately $500 million of 4.956% junior subordinated debentures due March 15, 2018, in a remarketing of the 6.001% junior subordinated debentures due 2042 originally issued to State Street Capital Trust III in 2008. The original debentures were issued to Capital Trust III in connection with our concurrent offering of the trust's 8.25% fixed-to-floating rate normal APEX. The net proceeds from the sale of the remarketed 4.956% junior subordinated debentures were invested in U.S. Treasury securities, and in March 2011, the proceeds from the maturity of these securities were used by Capital Trust III to make a final distribution to the holders of the normal APEX with respect to the original 6.001% junior subordinated debentures and to satisfy the obligation of Capital Trust III to purchase $500 million of our non-cumulative perpetual preferred stock, series A, $100,000 liquidation preference per share. The preferred stock constitutes the principal asset of the trust. Additional information about the preferred stock is provided in note 10. As a result of the above-described transactions, as of March 31, 2011, we had outstanding the above-referenced $500 million of 4.956% junior subordinated debentures due March 15, 2018 and $500 million of non-cumulative perpetual preferred stock. The 4.956% debentures qualify for inclusion in tier 2 regulatory capital, and the perpetual preferred stock qualifies for inclusion in tier 1 regulatory capital, both under federal regulatory capital guidelines. The original 6.001% junior subordinated debentures, which qualified for inclusion in tier 1 regulatory capital as trust preferred securities, were redeemed as a result of the remarketing transaction. Interest on the 4.956% junior subordinated debentures will be payable semi-annually in arrears on March 15 and September 15 of each year, beginning on March 15, 2011. Simultaneous with the issuance of the subordinated debentures, we entered into an interest-rate swap to convert the fixed rate on the debentures to a floating rate; this interest-rate swap will be accounted for as a fair value hedge. The debentures will mature on March 15, 2018, and we will not have the right to redeem the debentures prior to maturity other than upon the occurrence of specified events. Redemption of the debentures will be subject to federal regulatory approval. Dividends on the perpetual preferred stock are non-cumulative, and will be accrued when declared.

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Commitments and Contingencies

3 Months Ended

Mar. 31, 2011

Commitments and Contingencies

Commitments and Contingencies

Note 8. Commitments and Contingencies

Off-Balance Sheet Commitments and Contingencies

On behalf of our clients, we lend their securities to brokers and other institutions. In most circumstances, we indemnify our clients for the fair market value of those securities against a failure of the borrower to return such securities. We require the borrowers to maintain collateral in an amount equal to or in excess of 100% of the fair market value of the securities borrowed. Information about these and other activities related to securities financing is provided in note 11 to the consolidated financial statements included in our 2010 Form 10-K.

The following table summarizes the fair values of indemnified securities financing and related collateral, as well as collateral invested in indemnified repurchase agreements, as of the dates indicated:


(In millions)	March 31, 2011		December 31, 2010
Aggregate fair value of indemnified securities financing	$	350,286		$	334,235
Aggregate fair value of cash and securities held as collateral for indemnified securities financing		360,922			343,410
Aggregate fair value of collateral for indemnified securities financing invested in indemnified repurchase agreements⁽¹⁾		94,856			89,069
Aggregate fair value of cash and securities held as collateral for indemnified repurchase agreements		99,434			93,294

⁽¹⁾	We require the counterparty to the indemnified repurchase agreement to provide collateral in an amount equal to or in excess of 100% of the amount of the repurchase obligation.

Legal Proceedings

In the ordinary course of business, we and our subsidiaries are involved in disputes, litigation and regulatory inquiries and investigations, both pending and threatened. These matters, if resolved adversely against us, may result in monetary damages, fines and penalties or require changes in our business practices. The resolution of these proceedings is inherently difficult to predict. However, we do not believe that the amount of any judgment, settlement or other action arising from any pending proceeding will have a material adverse effect on our consolidated financial condition, although the outcome of certain of the matters described below may have a material adverse effect on our consolidated results of operations for the period in which such matter is resolved or a reserve is determined to be required. To the extent that we have established reserves in our consolidated statement of condition for probable loss contingencies, such reserves may not be sufficient to cover our ultimate financial exposure associated with any settlements or judgments. We may be subject to proceedings in the future that, if adversely resolved, would have a material adverse effect on our businesses or on our future consolidated results of operations or financial condition. Except where otherwise noted below, we have not recorded a reserve with respect to the claims discussed and do not believe that potential exposure, if any, as to any matter discussed can be reasonably estimated.

As previously reported, the SEC has requested information regarding registered mutual funds managed by SSgA that invested in sub-prime securities. As of June 30, 2007, these funds had net assets of less than $300 million, and the net asset value per share of the funds experienced an average decline of approximately 7.23% during the third quarter of 2007. Average returns for industry peer funds were positive during the same period. During the course of our responding to such inquiry, certain potential compliance issues have been identified and are in the process of being resolved with the SEC staff. These funds were not covered by our regulatory settlement with the SEC, the Massachusetts Attorney General and the Massachusetts Securities Division of the Office of the Secretary of State announced in the first quarter of 2010, which concerned certain unregistered SSgA-managed funds that pursued active fixed-income strategies. Four lawsuits by individual investors in those active fixed-income strategies remain pending. The U.S. Attorney's office in Boston has also requested information in connection with our active-fixed income strategies.

We are currently defending a putative ERISA class action by investors in unregistered SSgA-managed funds which challenges the division of our securities lending-related revenue between the SSgA lending funds and State Street in its role as lending agent.

As previously reported, two related participants in our agency securities lending program have brought suit against us challenging actions taken by us in response to their withdrawal from the program. We believe that certain withdrawals by these participants were inconsistent with the redemption policy applicable to the agency lending collateral pools and, consequently, redeemed their remaining interests through an in-kind distribution that reflected the assets these participants would have received had they acted in accordance with the collateral pools' redemption policy. The participants have asserted damages of $120 million, an amount that plaintiffs have stated was the difference between the amortized cost and market value of the assets that State Street proposed to distribute to the plans in-kind in or about August 2009. While management does not believe that such difference is an appropriate measure of damages, as of September 30, 2010, the last date on which State Street acted as custodian for the participants, the difference between the amortized cost and market value of the in-kind distribution was approximately $49 million. In taking these actions, we believe that we acted in the best interests of all participants in the collateral pools. We have not established a reserve with respect to this litigation.

As previously reported, we instituted redemption restrictions with respect to our agency lending collateral pools in 2008 during the disruption in the financial markets, and in 2010 established a $75 million reserve to address potential inconsistencies in connection with our implementation of those redemption restrictions. The reserve, which still existed as of March 31, 2011, reflects our assessment, as of the same date, of the amount required to compensate clients for the dilutive effect of redemptions which may not have been consistent with the intent of the policy.

We continue to cooperate with the SEC in its investigation with respect to the SSgA lending funds and the agency lending program. Neither the civil proceedings described above nor the SEC investigation have been terminated as a result of our one-time $330 million cash contribution to the cash collateral pools and liquidating trusts underlying the SSgA lending funds in 2010 or the above-described establishment of the $75 million reserve, and the outcome of those matters cannot be assured.

As previously reported, the Attorney General of the State of California has commenced an action under the California False Claims Act and California Business and Professional Code related to services State Street provides to California state pension plans. The California Attorney General asserts that the pricing of certain foreign exchange transactions for these pension plans was governed by the custody contracts for these plans and that our pricing was not consistent with the terms of those contracts and related disclosures to the plans, and that, as a result, State Street made false claims and engaged in unfair competition. The Attorney General asserts actual damages of $56 million for periods from 2001 to 2007 and seeks additional penalties.

We provide custody and principal foreign exchange services to government pension plans in other jurisdictions, and attorneys general from a number of these other jurisdictions, as well as U.S. Attorney's offices, the SEC and other regulators, have made inquiries or issued subpoenas concerning our foreign exchange pricing. During the third quarter of 2010, we entered into a $12 million settlement with the State of Washington. This settlement resolves a contract dispute related to the manner in which we priced some foreign exchange transactions during our ten-year relationship with the State of Washington that ended in 2007. Our contractual obligations to the State of Washington were significantly different from those presented in our ongoing litigation in California. In addition, we are responding to information requests from other clients with respect to our foreign exchange services. Two clients have commenced litigation against us, including a putative class action filed in February 2011 in federal court in Boston that seeks unspecified damages, including treble damages, on behalf of all custodial clients that executed foreign exchange transactions through State Street. The putative class action alleges, among other things, that the rates at which State Street executed foreign currency trades constituted an unfair and deceptive practice and a breach of the duty of loyalty.

Three shareholder-related class action complaints are currently pending in federal court in Boston. One complaint purports to be brought on behalf of State Street shareholders. The two other complaints purport to be brought on behalf of participants and beneficiaries in the State Street Salary Savings Program who invested in the program's State Street common stock investment option. The complaints variously allege violations of the federal securities laws and ERISA in connection with our foreign exchange trading business, our investment securities portfolio and our asset-backed commercial paper conduit program.

As previously reported, we managed, through SSgA, four common trust funds for which, in our capacity as manager and trustee, we appointed various Lehman entities as prime broker. As of September 15, 2008 (the date two of the Lehman entities involved entered insolvency proceedings), these funds had cash and securities held by Lehman with net asset values of approximately $312 million. Some clients who invested in the funds managed by us brought litigation against us seeking compensation and additional damages, including double or treble damages, for their alleged losses in connection with our prime brokerage arrangements with Lehman's entities. A total of seven clients were invested in such funds, of which four currently have suits pending against us. Three cases are pending in federal court in Boston and the fourth is pending in Nova Scotia. We have entered into settlements with two clients, one of which was entered into after the client obtained a €42 million judgment from a Dutch court. As of September 15, 2008, the five clients with whom we have not entered into settlement agreements had approximately $170 million invested in the funds at issue.

Tax Contingencies

In the normal course of our business, we are subject to challenges from U.S. and non-U.S. income tax authorities regarding the amount of taxes due. These challenges may result in adjustments to the timing or amount of taxable income or deductions or the allocation of taxable income among tax jurisdictions.

The IRS has completed its review of our U.S. income tax returns for the tax years 2000—2006. In the course of that review, the IRS had challenged our treatment of leveraged leases known as sale-in, lease-out, or SILO, transactions. We recently reached an agreement with the IRS concerning our treatment of SILO transactions for all tax years, and closed the audit of the tax years 2000—2003 during the three months ended March 31, 2011. We expect to reach an agreement to close the IRS audit of the tax years 2004—2006 in 2011, and do not expect our ultimate exposure related to SILO transactions to differ materially from the amount accrued as of March 31, 2011.

Unrecognized tax benefits as of March 31, 2011 totaled approximately $271 million, compared to approximately $419 million as of December 31, 2010. Substantially all of the change was associated with the impact of our agreement with the IRS concerning our treatment of SILO transactions and the related closing of the IRS audit of tax years 2000—2003. It is reasonably possible that unrecognized tax benefits will further decrease by up to $185 million over the next 12 months as a result of the closing of the IRS audit of tax years 2004—2006 and related state filings.

The majority of the tax contingencies released as part of the SILO settlement related to tax years 2000—2003 were temporary items that did not affect our effective tax rate. Management believes that we have sufficiently accrued liabilities as of March 31, 2011 for tax exposures, including, but not limited to, exposures related to the IRS audit of the tax years 2004—2006, and related interest expense. Refer to note 2 for information with respect to tax assessments associated with our acquisition of Intesa.

Other Contingencies

In the normal course of our business, we offer products that provide book-value protection primarily to plan participants in stable value funds managed by non-affiliated investment managers of postretirement defined contribution benefit plans, particularly 401(k) plans. Information about these products and the related contingencies is provided in note 11 to the consolidated financial statements included in our 2010 Form 10-K.

As of March 31, 2011 and December 31, 2010, the aggregate notional amount of the contingencies associated with these products, which are individually accounted for as derivative financial instruments, totaled $44.92 billion and $46.76 billion, respectively. The notional amounts of these contingencies are presented as trading derivatives in the table of aggregate notional amounts of derivative financial instruments provided in note 12. As of March 31, 2011, we have not made a payment under these contingencies that we consider material to our consolidated financial condition, and management believes that the probability of payment under these contingencies in the future that we would consider material to our consolidated financial condition is remote.

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Variable Interest Entities	3 Months Ended
Mar. 31, 2011
Variable Interest Entities
Variable Interest Entities	Note 9. Variable Interest Entities We are involved with various types of variable interest entities, or VIEs, as defined by GAAP, some of which are recorded in our consolidated financial statements and all of which are described below. We also invest in various forms of asset-backed securities, which we carry in our investment securities portfolio. These asset-backed securities meet the GAAP definition of asset securitization entities, which entities are considered to be VIEs. We are not considered to be the primary beneficiary of these VIEs, as defined by GAAP, since we do not have control over their activities. Additional information about our asset-backed securities is provided in note 3. *Tax-Exempt Investment Program* In the normal course of our business, we structure and sell certificated interests in pools of tax-exempt investment-grade assets, principally to our mutual fund clients. We structure these pools as partnership trusts, and the trusts are recorded in our consolidated statement of condition as investment securities available for sale and other short-term borrowings. We may also provide liquidity and re-marketing services to the trusts. As of March 31, 2011 and December 31, 2010, we carried investment securities available for sale, composed of securities related to state and political subdivisions, with a fair value of $2.79 billion and $2.85 billion, respectively, and other short-term borrowings of $2.45 billion and $2.50 billion, respectively, in our consolidated statement of condition in connection with these trusts. We transfer assets to the trusts from our investment securities portfolio at adjusted book value, and the trusts finance the acquisition of these assets by selling certificated interests issued by the trusts to third-party investors and to State Street as residual holder. These transfers do not meet the de-recognition criteria defined by GAAP, and therefore are recorded in our consolidated financial statements. The trusts had a weighted-average life of approximately 7.6 years at March 31, 2011, compared to approximately 7.7 years at December 31, 2010. Under separate legal agreements, we provide standby bond purchase agreements to these trusts, which obligate State Street to acquire the certificated interests at par value in the event that the re-marketing agent is unable to place the certificated interests with investors. Our obligations as standby bond purchase agreement provider terminate in the event of the following credit events: payment default, bankruptcy of the issuer and the credit enhancer, if any, the imposition of taxability, or the downgrade of an asset held by the trust below investment grade. Our commitments to the trusts under these standby bond purchase agreements totaled $2.49 billion at March 31, 2011, none of which was utilized at period-end. In the event that our obligations under these agreements are triggered, no material impact to our consolidated results of operations or financial condition is expected to occur, because the securities are already recorded at fair value in our consolidated statement of condition. *Asset-Backed Commercial Paper Program* We sponsor and administer multi-seller asset-backed commercial paper programs, or conduits, which are recorded in our consolidated financial statements. These conduits, the first of which was established in 1992, were originally designed to satisfy the demand of our institutional clients, particularly mutual fund clients, for commercial paper. The conduits purchase financial assets with various asset classifications from a variety of independent third parties, and we consider the activities of the conduits in our liquidity management process. The conduits hold diversified investments, which are primarily asset-backed securities purchased from independent third parties, collateralized by student loans, automobile and equipment loans and credit card receivables, among other asset types. As of March 31, 2011 and December 31, 2010, we carried investment securities, composed primarily of asset-backed securities, with an aggregate carrying value of $6.03 billion and $6.11 billion, respectively, and loans, composed of purchased receivables, with a recorded investment of $1.98 billion and $2.20 billion, respectively, in our consolidated statement of condition in connection with the conduits. In addition, as of December 31, 2010 we carried aggregate short-term borrowings, composed of commercial paper, of $1.92 billion in connection with the conduits. There was no commercial paper outstanding as of March 31, 2011 associated with the conduits. *Collateralized Debt Obligations* We serve as collateral manager for a series of collateralized debt obligations, referred to as CDOs. A CDO is a structured investment vehicle which purchases a portfolio of assets funded through the issuance of several classes of debt and equity, the repayment of and return on which are linked to the performance of the underlying assets. We have determined that we are not the primary beneficiary of these VIEs, and do not record them in our consolidated financial statements. At both March 31, 2011 and December 31, 2010, the aggregate notional amount of these CDOs was $1.0 billion. At March 31, 2011 and December 31, 2010, the carrying amount of the underlying collateral was $308 million and $323 million, respectively. We have not acquired or transferred any investment securities to a CDO since 2005.

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Shareholders' Equity

3 Months Ended

Mar. 31, 2011

Shareholders' Equity

Shareholders' Equity

Note 10. Shareholders' Equity

During the three months ended March 31, 2011, we issued 5,001 shares, or $500 million, of our non-cumulative perpetual preferred stock, series A, $100,000 liquidation preference per share, in connection with the remarketing of our 6.001% junior subordinated debentures due 2042 originally issued to State Street Capital Trust III in 2008. The preferred stock was purchased by State Street Capital Trust III using the ultimate proceeds from the remarketing transaction, and now constitutes the principal asset of the trust. The preferred stock qualifies for inclusion in tier 1 regulatory capital under federal regulatory capital guidelines. Additional information about the remarketing transaction is provided in note 7 in this Form 10-Q and in note 9 to the consolidated financial statements included in our 2010 Form 10-K. Dividends on the perpetual preferred stock are non-cumulative, and will be accrued when declared.

During the three months ended March 31, 2011, our Board of Directors approved a new program authorizing the purchase by us of up to $675 million of our common stock in 2011. This new program supersedes the Board's prior authorization under which 13.25 million common shares were available for purchase as of December 31, 2010. We may employ third-party broker/dealers to acquire shares on the open market in connection with our common stock purchase programs.

The following table presents the after-tax components of accumulated other comprehensive loss as of the dates indicated:


(In millions)	March 31, 2011			December 31, 2010
Foreign currency translation	$	576			$	216
Net unrealized loss on hedges of net investments in non-U.S. subsidiaries		(14	)			(14	)

Net unrealized loss on available-for-sale securities portfolio		(49	)			(90	)
Net unrealized loss related to reclassified available-for-sale securities		(293	)			(317	)

Net unrealized loss on available-for-sale securities		(342	)			(407	)
Net unrealized loss on fair value hedges of available-for-sale securities		(120	)			(135	)
Expected losses from other-than-temporary impairment on available-for-sale securities related to factors other than credit		(15	)			(17	)
Expected losses from other-than-temporary impairment on held-to-maturity securities related to factors other than credit		(108	)			(111	)
Minimum pension liability		(203	)			(210	)
Net unrealized loss on cash flow hedges		(12	)			(11	)

Total	$	(238	)		$	(689	)

For the three months ended March 31, 2011, we realized net gains of $4 million from sales of available-for- sale securities. Unrealized pre-tax gains of $47 million were included in other comprehensive income, or OCI, at December 31, 2010, net of deferred taxes of $19 million, related to these sales. For the three months ended March 31, 2010, we realized net gains of $192 million from sales of available-for-sale securities. Unrealized pre-tax gains of $103 million were included in OCI at December 31, 2009, net of deferred taxes of $41 million, related to these sales.

The following table presents total comprehensive income for the three months ended March 31:


(In millions)	2011		2010
Net income	$	471		$	495
Other comprehensive income		451			380

Total comprehensive income	$	922		$	875

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Fair Value

3 Months Ended

Mar. 31, 2011

Fair Value

Fair Value

Note 11. Fair Value

Fair Value Measurements

We carry trading account assets, investment securities available for sale and various types of derivative financial instruments at fair value in our consolidated statement of condition on a recurring basis. Changes in the fair values of these financial assets and liabilities are recorded either as components of our consolidated statement of income or as components of OCI within shareholders' equity in our consolidated statement of condition.

We measure fair value for the above-described financial assets and liabilities in accordance with GAAP that governs the measurement of the fair value of financial instruments. Management believes that its valuation techniques and underlying assumptions used to measure fair value conform to the provisions of GAAP. We categorize the financial assets and liabilities that we carry at fair value based upon a prescribed three-level valuation hierarchy. The hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (level 1) and the lowest priority to valuation methods using significant unobservable inputs (level 3). If the inputs used to measure a financial asset or liability cross different levels of the hierarchy, categorization is based on the lowest-level input that is significant to the fair value measurement. Management's assessment of the significance of a particular input to the overall fair value measurement of a financial asset or liability requires judgment, and considers factors specific to that asset or liability. The three levels are described below.

Level 1. Financial assets and liabilities with values based on unadjusted quoted prices for identical assets or liabilities in an active market. Fair value is measured using unadjusted quoted prices in active markets for identical securities. Our level 1 financial assets and liabilities primarily included long and short positions in U.S. government securities and highly liquid U.S. and non-U.S. government fixed-income securities. We carry U.S. government securities in our available-for-sale portfolio in connection with our asset and liability management activities. We carry the long and short positions in highly liquid fixed-income securities in trading account assets and accrued expenses and other liabilities in connection with our trading activities. We assume these long and short positions in our role as a financial intermediary, which includes accommodating our clients' investment and risk management needs. Our level 1 financial assets also included active exchange-traded equity securities.

Level 2. Financial assets and liabilities with values based on quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. Level 2 inputs include the following:

Quoted prices for similar assets or liabilities in active markets;

Quoted prices for identical or similar assets or liabilities in non-active markets;

Pricing models whose inputs are observable for substantially the full term of the asset or liability; and

Pricing models whose inputs are derived principally from, or corroborated by, observable market information through correlation or other means for substantially the full term of the asset or liability.

The fair value of the investment securities categorized in level 2 is measured primarily using information obtained from independent third parties. This third-party information is subject to review by management as part of a validation process, which includes obtaining an understanding of the underlying assumptions and the level of market participant information used to support those assumptions. In addition, management compares significant assumptions used by third parties to available market information. Such information may include known trades or, to the extent that trading activity is limited, includes comparisons to market research information pertaining to credit expectations, execution prices and the timing of cash flows.

The fair value of the derivative instruments categorized in level 2 predominantly represents foreign exchange contracts used in our trading activities, for which fair value is measured using discounted cash flow techniques, with inputs consisting of observable spot and forward points, as well as observable interest rate curves. With respect to derivative instruments, we evaluated the impact on valuation of the credit risk of our counterparties and our own credit risk. We considered factors such as the likelihood of default by us and our counterparties, our current and potential future net exposures and remaining maturities in determining the appropriate measurements of fair value. Valuation adjustments associated with these factors were not significant for the three months ended March 31, 2011 or 2010.

Our level 2 financial assets and liabilities primarily included various types of interest-rate and foreign exchange derivative instruments, as well as trading account assets and fixed-income investment securities.

Level 3. Financial assets and liabilities with values based on prices or valuation techniques that require inputs that are both unobservable in the market and significant to the overall fair value measurement. These inputs reflect management's judgment about the assumptions that a market participant would use in pricing the asset or liability, and are based on the best available information, some of which is internally developed. The following provides a more detailed discussion of our financial assets and liabilities that we may categorize in level 3 and the related valuation methodology.

•

For certain investment securities available for sale, fair value was measured using information obtained from third-party sources or through the use of pricing models. Management evaluated its methodologies used to determine fair value, but considered the level of observable market information to be insufficient to categorize the securities in level 2.

•

Foreign exchange contracts carried in other assets and accrued expenses and other liabilities were primarily composed of forward contracts and options. The fair value of foreign exchange forward contracts was measured using discounted cash flow techniques. However, in certain circumstances, extrapolation was required to develop certain forward points which were not observable. The fair value of foreign exchange options was measured using an option pricing model. Because of a limited number of observable transactions, certain model inputs were unobservable, such as volatilities, and were based on historical experience.

•

The fair value of certain interest-rate caps with long-dated maturities, also carried in other assets and accrued expenses and other liabilities, was measured using a matrix pricing approach. Observable market prices were not available for these derivatives, so extrapolation was necessary to value these instruments, since they had a strike and/or maturity outside of the matrix.

The following tables present information with respect to our financial assets and liabilities carried at fair value in our consolidated statement of condition as of the dates indicated. No significant transfers of financial assets or liabilities between levels 1 and 2 occurred during the three months ended March 31, 2011.

Fair Value Measurements on a Recurring Basis
as of March 31, 2011

(In millions)

Quoted Market
Prices in Active
Markets
(Level 1)

Pricing Methods
with Significant
Observable Market
Inputs
(Level 2)

Pricing Methods
with Significant
Unobservable Market
Inputs
(Level 3)

Impact of
Netting⁽¹⁾

Total Net
Carrying Value
in Consolidated
Statement of
Condition

Assets:

Trading account assets

1,688

144

1,832

Investment securities available for sale:

U.S. Treasury and federal agencies:

Direct obligations

6,429

1,028

7,457

Mortgage-backed securities

—

25,979

898

26,877

Asset-backed securities:

Student loans

—

14,616

1,308

15,924

Credit cards

—

8,480

8,539

Sub-prime

—

1,754

—

1,754

Other

—

509

1,088

1,597

Total asset-backed securities

—

25,359

2,455

27,814

Non-U.S. debt securities

—

13,410

2,989

16,399

State and political subdivisions

—

6,555

6,606

Collateralized mortgage obligations

—

1,806

228

2,034

Other U.S. debt securities

—

2,714

2,717

U.S. equity securities

—

634

—

634

Non-U.S. equity securities

145

—

153

Total investment securities available for sale

6,437

77,630

6,624

90,691

Other assets

137

9,042

235

(2,912

)

6,502

Total assets carried at fair value

8,262

86,816

6,859

(2,912

)

99,025

Liabilities:

Accrued expenses and other liabilities

2,130

9,004

241

(2,912

)

8,463

Total liabilities carried at fair value

2,130

9,004

241

(2,912

)

8,463

⁽¹⁾	Represents counterparty netting against level 2 financial assets and liabilities, where a legally enforceable master netting agreement exists between State Street and the counterparty.


	Fair Value Measurements on a Recurring Basis as of December 31, 2010
(In millions)	Quoted Market Prices in Active Markets (Level 1)		Pricing Methods with Significant Observable Market Inputs (Level 2)			Pricing Methods with Significant Unobservable Market Inputs (Level 3)		Impact of Netting⁽¹⁾	Total Net Carrying Value in Consolidated Statement of Condition
Assets:
Trading account assets	$	357		$	122							$	479
Investment securities available for sale:
U.S. Treasury and federal agencies:
Direct obligations		6,529			1,048								7,577
Mortgage-backed securities		—			22,967		$	673					23,640
Asset-backed securities:
Student loans		—			13,182			1,234					14,416
Credit cards		—			7,423			28					7,451
Sub-prime		—			1,818			—					1,818
Other		—			568			1,020					1,588

Total asset-backed securities		—			22,991			2,282					25,273

Non-U.S. debt securities		—			10,905			2,140					13,045
State and political subdivisions		—			6,554			50					6,604
Collateralized mortgage obligations		—			1,502			359					1,861
Other U.S. debt securities		—			2,637			3					2,640
U.S. equity securities		—			1,115			—					1,115
Non-U.S. equity securities		7			119			—					126

Total investment securities available for sale		6,536			69,838			5,507					81,881
Other assets		168			7,971			254	$	(2,970	)		5,423

Total assets carried at fair value	$	7,061		$	77,931		$	5,761	$	(2,970	)	$	87,783

Liabilities:
Accrued expenses and other liabilities	$	723		$	8,557		$	269	$	(2,970	)	$	6,579

Total liabilities carried at fair value	$	723		$	8,557		$	269	$	(2,970	)	$	6,579

⁽¹⁾	Represents counterparty netting against level 2 financial assets and liabilities, where a legally enforceable master netting agreement exists between State Street and the counterparty.

The following tables present activity related to our financial assets and liabilities categorized in level 3 of the valuation hierarchy for the three months ended March 31, 2011 and 2010. For the three months ended March 31, 2011 and 2010, transfers out of level 3 were substantially related to certain mortgage- or asset-backed securities and non-U.S. debt securities, for which fair value was measured using prices for which observable market information became available.


	Fair Value Measurements Using Significant Unobservable Inputs Three Months Ended March 31, 2011
	Fair Value at December 31, 2010		Transfers into Level 3			Transfers out of Level 3		Total Realized and Unrealized Gains (Losses)		Purchases			Sales			Settlements		Fair Value at March 31, 2011	Change in Unrealized Gains (Losses) Related to Financial Instruments Held at March 31, 2011
(In millions)			Recorded in Revenue			Recorded in Other Comprehensive Income
Assets:
Investment securities available for sale:
U.S. Treasury and federal agencies:
Mortgage-backed securities	$	673					$	(403	)					$	1		$	636		$	(9	)	$	898
Asset-backed securities:
Student loans		1,234						(33	)	$	2				1			121			(17	)		1,308
Credit cards		28						—			1				(1	)		31			—			59
Other		1,020						—			6				22			98			(58	)		1,088

Total asset-backed securities		2,282						(33	)		9				22			250			(75	)		2,455

Non-U.S. debt securities		2,140						(258	)		2				34			1,141			(70	)		2,989
State and political subdivisions		50						—			—				1			—			—			51
Collateralized mortgage obligations		359						(132	)		133				(2	)		23			(153	)		228
Other U.S. debt securities		3						—			—				—			—			—			3

Total investment securities available for sale		5,507						(826	)		144				56			2,050			(307	)		6,624
Other assets		254		$	1			—			(87	)			—			125			(58	)		235	$	(46	)

Total assets carried at fair value	$	5,761		$	1		$	(826	)	$	57			$	56		$	2,175		$	(365	)	$	6,859	$	(46	)


	Fair Value Measurements Using Significant Unobservable Inputs Three Months Ended March 31, 2011
	Fair Value at December 31, 2010		Transfers into Level 3			Transfers out of Level 3	Total Realized and Unrealized (Gains) Losses	Purchases			Sales	Settlements	Fair Value at March 31, 2011	Change in Unrealized (Gains) Losses Related to Financial Instruments Held at March 31, 2011
(In millions)			Recorded in Revenue			Recorded in Other Comprehensive Income
Liabilities:
Accrued expenses and other liabilities	$	269		$	1			$	(78	)				$	117	$	(68	)	$	241	$	(47	)

Total liabilities carried at fair value	$	269		$	1			$	(78	)				$	117	$	(68	)	$	241	$	(47	)


	Fair Value Measurements Using Significant Unobservable Inputs Three Months Ended March 31, 2010
	Fair Value at December 31, 2009		Total Realized and Unrealized Gains (Losses)			Purchases, Issuances and Settlements, Net		Transfers Into and/ or Out of Level 3		Fair Value at March 31, 2010			Change in Unrealized Gains (Losses) Related to Financial Instruments Held at March 31, 2010
(In millions)		Recorded in Revenue		Recorded in Other Comprehensive Income
Assets:
Investment securities available for sale:
U.S. Treasury and federal agencies:
Mortgage-backed securities	$	58								$	167						$	225
Asset-backed securities:
Student loans		3,175		$	3		$	71			28			$	(164	)		3,113
Credit cards		327			14			(14	)		(28	)			(274	)		25
Sub-prime		3			—			—			—				—			3
Other		1,884			27			121			(87	)			(87	)		1,858

Total asset-backed securities		5,389			44			178			(87	)			(525	)		4,999

Non-U.S. debt securities		1,777			48			52			103				(99	)		1,881
State and political subdivisions		2			—			—			—				(2	)		—
Collateralized mortgage obligations		199			(209	)		7			198				—			195
Other U.S. debt securities		3			—			—			—				—			3

Total investment securities available for sale		7,428			(117	)		237			381				(626	)		7,303
Loans and leases		—			(6	)		—			(23	)			945			916
Other assets		128			(47	)		—			128				—			209	$	(39	)

Total assets carried at fair value	$	7,556		$	(170	)	$	237		$	486			$	319		$	8,428	$	(39	)


	Fair Value Measurements Using Significant Unobservable Inputs Three Months Ended March 31, 2010
(In millions)	Fair Value at December 31, 2009		Total Realized and Unrealized (Gains) Losses			Purchases, Issuances and Settlements, Net	Transfers Into and/ or Out of Level 3	Fair Value at March 31, 2010			Change in Unrealized (Gains) Losses Related to Financial Instruments Held at March 31, 2010
	Recorded in Revenue		Recorded in Other Comprehensive Income
Liabilities:
Other short-term borrowings				$	(11	)		$	(27	)		$	712	$	674
Accrued expenses and other liabilities	$	147			(55	)			120				—		212	$	(42	)

Total liabilities carried at fair value	$	147		$	(66	)		$	93			$	712	$	886	$	(42	)

For our financial assets and liabilities categorized in level 3, total realized and unrealized gains and losses for the three months ended March 31 were recorded in revenue as follows:


	Three Months Ended March 31, 2011			Three Months Ended March 31, 2010
(In millions)	Total Realized and Unrealized Gains (Losses) Recorded in Revenue			Change in Unrealized Gains (Losses) Related to Financial Instruments Held at March 31, 2011			Total Realized and Unrealized Gains (Losses) Recorded in Revenue		Change in Unrealized Gains (Losses) Related to Financial Instruments Held at March 31, 2010
Fee revenue:
Trading services	$	(9	)		$	1		$	8		$	3
Processing fees and other		—				—			5			—

Total fee revenue		(9	)			1			13			3
Net interest revenue		144				—			(117	)		—

Total revenue	$	135			$	1		$	(104	)	$	3

Fair Values of Financial Instruments

Estimates of fair value for financial instruments not carried at fair value on a recurring basis in our consolidated statement of condition, as defined by GAAP, are generally subjective in nature, and are made as of a specific point in time based on the characteristics of the financial instruments and relevant market information. Disclosure of fair value estimates is not required by GAAP for certain items, such as lease financing, equity method investments, obligations for pension and other post-retirement plans, premises and equipment, other intangible assets and income tax assets and liabilities. Accordingly, aggregate fair value estimates presented do not purport to represent, and should not be considered representative of, our underlying "market" or franchise value. In addition, because of potential differences in methodologies and assumptions used to estimate fair values, our estimates of fair value should not be compared to those of other financial institutions.

We use the following methods to estimate the fair values of our financial instruments:

•

For financial instruments that have quoted market prices, those quoted prices are used to estimate fair value.

•

Financial instruments that have no defined maturity, have a remaining maturity of 180 days or less, or reprice frequently to a market rate are assumed to have a fair value that approximates their reported value, after taking into consideration any applicable credit risk.

•

For financial instruments for which no quoted market prices are available, fair value is estimated using information obtained from independent third parties, or by discounting the expected cash flows using an estimated current market interest rate for the financial instrument.

The generally short duration of certain of our assets and liabilities results in a significant number of financial instruments for which fair value equals or closely approximates the amount reported in our consolidated statement of condition. These financial instruments are reported in the following captions in our consolidated statement of condition: cash and due from banks; interest-bearing deposits with banks; securities purchased under resale agreements; accrued income receivable; deposits; securities sold under repurchase agreements; federal funds purchased; and other short-term borrowings. In addition, due to the relatively short duration of certain of our net loans (excluding leases), we consider fair value for these loans to approximate their reported value. The fair value of other types of loans, such as purchased receivables and commercial real estate loans, is estimated by discounting expected future cash flows using current rates at which similar loans would be made to borrowers with similar credit ratings for the same remaining maturities. Loan commitments have no reported value because terms are at prevailing market rates.

The following table presents the reported amounts and estimated fair values of the financial instruments defined by GAAP, excluding the aforementioned short-term financial instruments and financial assets and liabilities carried at fair value on a recurring basis, as of the dates indicated:


(In millions)	Reported Amount		Fair Value
March 31, 2011:
Financial Assets:
Investment securities held to maturity	$	12,253		$	12,655
Net loans (excluding leases)		11,170			11,053

Financial Liabilities:
Long-term debt		9,531			9,553

December 31, 2010:
Financial Assets:
Investment securities held to maturity	$	12,249		$	12,576
Net loans (excluding leases)		10,387			10,242

Financial Liabilities:
Long-term debt		8,550			8,498

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Derivative Financial Instruments

3 Months Ended

Mar. 31, 2011

Derivative Financial Instruments

Derivative Financial Instruments

Note 12. Derivative Financial Instruments

We use derivative financial instruments to support our clients' needs, conduct our trading activities, and manage our interest-rate and currency risk.

As part of our trading activities, we assume positions in both the foreign exchange and interest-rate markets by buying and selling cash instruments and using derivative financial instruments, including foreign exchange forward contracts, foreign exchange and interest-rate options and interest-rate swaps, and interest-rate futures.

Interest-rate contracts involve an agreement with a counterparty to exchange cash flows based on the movement of an underlying interest-rate index. An interest-rate swap agreement involves the exchange of a series of interest payments, either at a fixed or variable rate, based on the notional amount without the exchange of the underlying principal amount. An interest-rate option contract provides the purchaser, for a premium, the right, but not the obligation, to receive an interest rate based upon a predetermined notional amount during a specified period. An interest-rate futures contract is a commitment to buy or sell, at a future date, a financial instrument at a contracted price; it may be settled in cash or through the delivery of the contracted instrument.

Foreign exchange contracts involve an agreement to exchange one currency for another currency at an agreed-upon rate and settlement date. Foreign exchange contracts generally consist of foreign exchange forward and spot contracts and option contracts.

Derivative financial instruments involve the management of interest-rate and foreign currency risk, and involve, to varying degrees, market risk and credit and counterparty risk (risk related to repayment). Market risk is defined as the risk of adverse financial impact due to fluctuations in interest rates, foreign exchange rates and other market-driven factors and prices. We use a variety of risk management tools and methodologies to measure, monitor and manage the market risk associated with our trading activities. One such risk-management measure is value-at-risk, or VaR. VaR is an estimate of potential loss for a given period within a stated statistical confidence interval. We use a risk-measurement system to estimate VaR daily. We have adopted standards for estimating VaR, and we maintain capital for market risk in accordance with federal regulatory capital guidelines.

Derivative financial instruments are also subject to credit and counterparty risk, which is defined as the risk of financial loss if a borrower or counterparty is either unable or unwilling to repay borrowings or settle a transaction in accordance with the underlying contractual terms. We manage credit and counterparty risk by performing credit reviews, maintaining individual counterparty limits, entering into netting arrangements and requiring the receipt of collateral. Collateral requirements are determined after a comprehensive review of the creditworthiness of each counterparty, and the requirements are monitored and adjusted daily. Collateral is generally held in the form of cash or highly liquid U.S. government securities. We may be required to provide collateral to the counterparty in connection with our entry into derivative financial instruments. Future cash requirements, if any, related to foreign exchange contracts are represented by the gross amount of currencies to be exchanged under each contract unless we and the counterparty have agreed to pay or to receive the net contractual settlement amount on the settlement date.

We enter into master netting agreements with many of our derivative counterparties. Certain of these agreements contain credit risk-related contingent features in which the counterparty has the option to declare State Street in default and accelerate cash settlement of our net derivative liabilities with the counterparty in the event our credit rating falls below specified levels. The aggregate fair value of all derivative instruments with credit risk-related contingent features that were in a net liability position as of March 31, 2011 totaled approximately $226 million, against which we had posted aggregate collateral of approximately $15 million. If State Street's credit rating was downgraded below levels specified in the agreements, the maximum additional amount of payments related to termination events that could have been required pursuant to these contingent features as of March 31, 2011 was approximately $211 million. Such accelerated settlement would not affect our consolidated results of operations.

Trading Activities

In connection with our trading activities, we use derivative financial instruments in our role as a financial intermediary and as both a manager and servicer of financial assets, in order to accommodate our clients' investment and risk management needs. In addition, we use derivative financial instruments in order to contribute to our overall corporate earnings and liquidity. These activities are designed to generate trading revenue and to hedge volatility in our net interest revenue. The level of market risk that we assume is a function of our overall objectives and liquidity needs, our clients' requirements and market volatility.

Our clients use derivative financial instruments to manage the financial risks associated with their investment goals and business activities. With respect to cross-border investing, clients have a need for foreign exchange forward contracts to convert currency for international investment and to manage the currency risk in their investment portfolios. As an active participant in the foreign exchange markets, we provide foreign exchange forward contracts and options in support of these client needs. We also participate in the interest-rate markets, and provide interest-rate swaps, interest-rate futures and other interest-rate contracts to our clients to enable them to mitigate or modify their interest-rate risk. As part of our trading activities, we may assume positions in both the foreign exchange and interest-rate markets by buying and selling cash instruments and using derivative financial instruments, including foreign exchange forward contracts, foreign exchange and interest-rate options and interest-rate swaps, and interest-rate futures. In the aggregate, positions are matched closely to minimize currency and interest-rate risk. Gains or losses in the fair values of trading derivatives are recorded in trading services revenue in our consolidated statement of income.

We offer products that provide book-value protection primarily to plan participants in stable value funds managed by non-affiliated investment managers of post-retirement defined contribution benefit plans, particularly 401(k) plans. We account for the associated contingencies, more fully described in note 8, individually as trading derivative financial instruments. These contracts are valued quarterly and unrealized losses, if any, are recorded in other expenses in our consolidated statement of income.

Asset and Liability Management Activities

In connection with our asset and liability management activities, we use derivative financial instruments to manage interest-rate risk. Interest-rate risk, defined as the sensitivity of income or financial condition to variations in interest rates, is a significant non-trading market risk to which our assets and liabilities are exposed. We manage interest-rate risk by identifying, quantifying and hedging our exposures, using fixed-rate portfolio securities and a variety of derivative financial instruments, most frequently interest-rate swaps and options (e.g., interest rate caps and floors). Interest-rate swap agreements alter the interest-rate characteristics of specific balance sheet assets or liabilities. When appropriate, forward rate agreements, options on swaps, and exchange-traded futures and options are also used.

Fair value hedges

Derivatives designated as fair value hedges are utilized to mitigate the risk of changes in fair value of recognized assets and liabilities. Gains and losses on fair value hedges are recorded in processing fees and other revenue in our consolidated statement of income along with the gain or loss on the asset or liability attributable to the hedged risk. Differences between the gains and losses on fair value hedges and the gains and losses on the asset or liability attributable to the hedged risk represent hedge ineffectiveness, which is recorded in net interest revenue or in processing fees and other revenue. We use interest-rate swap agreements in this manner to manage our exposure to changes in the fair value of hedged items caused by changes in interest rates.

We have entered into interest-rate swap agreements to modify our interest revenue from certain available-for-sale securities from a fixed rate to a floating rate. The securities hedged have a weighted-average life of approximately 7.6 years as of March 31, 2011, compared to 7.7 years as of December 31, 2010. These securities are hedged with interest-rate swap contracts of similar maturity, repricing and fixed-rate coupons. The interest-rate swap contracts convert the interest revenue from a fixed rate to a floating rate indexed to LIBOR, thereby mitigating our exposure to fluctuations in the fair value of the securities attributable to changes in the benchmark interest rate.

We have entered into interest-rate swap agreements to modify our interest expense on two subordinated notes from fixed rates to floating rates. The subordinated notes mature in 2018; one pays fixed interest at a 4.956% annual rate and the other pays fixed interest at a 5.25% annual rate. The subordinated notes are hedged with interest-rate swap contracts with notional amounts, maturities and fixed-rate coupon terms that align with the hedged subordinated notes. The interest-rate swap contracts convert the fixed-rate coupons to floating rates indexed to LIBOR, thereby mitigating our exposure to fluctuations in the fair values of the subordinated notes stemming from changes in the benchmark interest rates.

Cash flow hedges

Derivatives categorized as cash flow hedges are utilized to offset the variability of cash flows to be received from or paid on a floating-rate asset or liability. Gains and losses on cash flow hedges that are considered highly effective are recorded in accumulated OCI in our consolidated statement of condition until earnings are affected by the hedged item. When gains or losses are reclassified from accumulated OCI into earnings, they are recorded in net interest revenue in our consolidated statement of income. The ineffectiveness of cash flow hedges, defined as the extent to which the changes in fair value of the derivative exceeded the variability of cash flows of the forecasted transaction, is recorded in processing fees and other revenue.

We have entered into interest-rate swap agreements to modify our interest revenue from certain available-for-sale securities from a floating rate to a fixed rate. The securities hedged have a weighted-average life of approximately 3.6 years as of March 31, 2011, compared to 3.8 years as of December 31, 2010. These securities are hedged with interest-rate swap contracts of similar maturities, repricing and other characteristics. The interest-rate swap contracts convert the interest revenue from a floating rate to a fixed rate, thereby mitigating our exposure to fluctuations in the cash flows of the securities attributable to changes in the benchmark interest rate.

The following table presents the aggregate contractual, or notional, amounts of derivative financial instruments entered into in connection with trading and asset and liability management activities as of the dates indicated:


(In millions)	March 31, 2011		December 31, 2010
Trading:
Interest-rate contracts:
Swap agreements	$	106,478		$	52,383
Options and caps purchased		1,046			140
Options and caps written		604			130
Futures		101,481			25,253
Foreign exchange contracts:
Forward, swap and spot		798,688			637,847
Options purchased		15,669			14,299
Options written		15,337			14,587
Credit derivative contracts:
Credit default swap agreements		155			155
Other:
Stable value contracts		44,918			46,758

Asset and liability management:
Interest-rate contracts:
Swap agreements		2,302			1,886

In connection with our asset and liability management activities, we have entered into interest-rate swap agreements designated as fair value and cash flow hedges to manage our interest-rate risk. The following table presents the aggregate notional amounts of these interest-rate swap agreements and the related assets or liabilities being hedged as of the dates indicated.


	March 31, 2011		December 31, 2010
(In millions)	Fair Value Hedges		Cash Flow Hedges			Total		Fair Value Hedges	Cash Flow Hedges		Total
Investment securities available for sale	$	1,474		$	128		$	1,602	$	1,561		$	125	$	1,686
Long-term debt⁽¹⁾		700			—			700		200			—		200

Total	$	2,174		$	128		$	2,302	$	1,761		$	125	$	1,886

⁽¹⁾	As of March 31, 2011 and December 31, 2010, fair value hedges of long-term debt increased the carrying value of long-term debt presented in our consolidated statement of condition by $76 million and $81 million, respectively.

The following table presents the contractual and weighted-average interest rates, which include the effects of hedges related to these financial instruments, for the three months ended March 31:


	2011			2010
	Contractual Rates			Rate Including Impact of Hedges		Contractual Rates	Rate Including Impact of Hedges
Long-term debt		3.55	%		3.20	%	3.74	%	3.28	%

For cash flow hedges, any changes in the fair value of the derivative financial instruments remain in accumulated OCI and are generally recorded in our consolidated statement of income in future periods when earnings are affected by the variability of the hedged cash flow.

The following table presents the fair value of the derivative financial instruments, excluding the impact of master netting agreements, recorded in our consolidated statement of condition as of the dates indicated. The impact of master netting agreements is disclosed in note 11.

Asset Derivatives

Liability Derivatives

March 31, 2011

(In millions)

Balance Sheet
Location

Fair
Value

Balance Sheet
Location

Fair
Value

Derivatives utilized in trading activities:

Interest-rate contracts

Other assets

1,169

Other liabilities

1,156

Foreign exchange contracts

Other assets

8,071

Other liabilities

7,885

Credit derivative contracts

Other assets

—

Other liabilities

Equity derivative contracts

Other assets

Other liabilities

—

Total

9,241

9,042

Derivatives designated as hedges:

Interest-rate contracts

Other assets

Other liabilities

203

Total

203


	Asset Derivatives		Liability Derivatives
	December 31, 2010		December 31, 2010
(In millions)	Balance Sheet Location	Fair Value		Balance Sheet Location		Fair Value
Derivatives utilized in trading activities:
Interest-rate contracts	Other assets	$	412		Other liabilities		$	423
Foreign exchange contracts	Other assets		7,779		Other liabilities			8,174
Credit derivative contracts	Other assets		1		Other liabilities			1
Equity derivative contracts	Other assets		1		Other liabilities			—

Total		$	8,193				$	8,598

Derivatives designated as hedges:
Interest-rate contracts	Other assets	$	32		Other liabilities		$	228

Total		$	32				$	228

The following tables present the impact of our use of derivative financial instruments on our consolidated statement of income for the periods indicated:


	Location of Gain (Loss) on Derivative in Consolidated Statement of Income		Amount of Gain (Loss) on Derivative Recognized in Consolidated Statement of Income
(In millions)			Three Months Ended March 31, 2011			Three Months Ended March 31, 2010
Derivatives utilized in trading activities:
Interest-rate contracts		Trading services revenue		$	(10	)	$	(1	)
Interest-rate contracts		Processing fees and other revenue			—			11
Foreign exchange contracts		Trading services revenue			159			143
Foreign exchange contracts		Processing fees and other revenue			5			2

Total				$	154		$	155

Location of
Gain (Loss) on
Derivative in
Consolidated
Statement of Income

Amount of Gain
(Loss) on Derivative
Recognized in
Consolidated
Statement of Income

Hedged Item
in Fair
Value
Hedging
Relationship

Location of Gain
(Loss) on
Hedged Item in
Consolidated
Statement of
Income

Amount of Gain
(Loss) on Hedged
Item Recognized in
Consolidated
Statement of Income

(In millions)

Three Months
Ended
March 31, 2011

Derivatives designated as fair value hedges:

Interest-rate contracts

Processing fees and

other revenue

)

Long-term debt

Processing fees and
other revenue

Interest-rate contracts

Processing fees and

other revenue

Available-for-sale
securities

Processing fees and
other revenue

(25

)

Total

(22

)

Location of
Gain (Loss) on
Derivative in
Consolidated
Statement of Income

Amount of Gain
(Loss) on Derivative
Recognized in
Consolidated
Statement of Income

Hedged Item
in Fair
Value
Hedging
Relationship

Location of Gain
(Loss) on
Hedged Item in
Consolidated
Statement of
Income

Amount of Gain
(Loss) on Hedged
Item Recognized in
Consolidated
Statement of Income

(In millions)

Three Months
Ended
March 31, 2010

Derivatives designated as fair value hedges:

Interest-rate contracts

Processing fees and

other revenue

Long-term debt

Processing fees and
other revenue

Interest-rate contracts

Processing fees and

other revenue

)

Available-for-sale
securities

Processing fees and
other revenue

Total

)

Differences between the gains (losses) on the derivative and the gains (losses) on the hedged item represent hedge ineffectiveness


	Amount of Gain (Loss) on Derivative Recognized in Other Comprehensive Income		Location of Gain (Loss) Reclassified from OCI to Consolidated Statement of Income		Amount of Gain (Loss) Reclassified from OCI to Consolidated Statement of Income		Location of Gain (Loss) on Derivative Recognized in Consolidated Statement of Income		Amount of Gain (Loss) on Derivative Recognized in Consolidated Statement of Income
(In millions)	Three Months Ended March 31, 2011				Three Months Ended March 31, 2011				Three Months Ended March 31, 2011
Derivatives designated as cash flow hedges:
Interest-rate contracts		—		Net interest revenue		$	(2	)		Net interest revenue	$	1

Total		—				$	(2	)			$	1


		Amount of Gain (Loss) on Derivative Recognized in Other Comprehensive Income	Location of Gain (Loss) Reclassified from OCI to Consolidated Statement of Income			Amount of Gain (Loss) Reclassified from OCI to Consolidated Statement of Income			Location of Gain (Loss) on Derivative Recognized in Consolidated Statement of Income	Amount of Gain (Loss) on Derivative Recognized in Consolidated Statement of Income
(In millions)	Three Months Ended March 31, 2010				Three Months Ended March 31, 2010						Three Months Ended March 31, 2010
Derivatives designated as cash flow hedges:
Interest-rate contracts		—		Net interest revenue			$	(1	)			Net interest revenue	$	2

Total		—					$	(1	)				$	2

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Net Interest Revenue

3 Months Ended

Mar. 31, 2011

Net Interest Revenue

Net Interest Revenue

Note 13. Net Interest Revenue

The following table presents the components of interest revenue and interest expense, and related net interest revenue, for the three months ended March 31:


(In millions)	2011		2010
Interest revenue:
Deposits with banks	$	27		$	19
Investment securities:
U.S. Treasury and federal agencies		206			139
State and political subdivisions		56			54
Other investments		355			550
Securities purchased under resale agreements		10			4
Loans and leases⁽¹⁾		80			111
Other interest-earning assets		—			1

Total interest revenue		734			878

Interest expense:
Deposits		58			33
Short-term borrowings⁽¹⁾		27			111
Long-term debt		71			72
Other interest-bearing liabilities		1			1

Total interest expense		157			217

Net interest revenue	$	577		$	661

⁽¹⁾	Amounts for 2010 included $53 million related to the third-party asset-backed securitization trusts consolidated into our financial statements on January 1, 2010 in connection with our adoption of new GAAP. These trusts were de-consolidated in June 2010.

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Other Expenses

3 Months Ended

Mar. 31, 2011

Other Expenses

Other Expenses

Note 14. Other Expenses

For the three months ended March 31, 2011 and 2010, we recorded acquisition and restructuring costs of $19 million and $13 million, respectively. The 2011 costs were composed of $14 million of merger and integration costs related to the acquired Intesa, Mourant International Finance Administration and BIAM businesses, and $5 million of restructuring charges related to the business operations and information technology transformation program described below. The 2010 costs were composed of merger and integration costs associated with acquisitions.

In November 2010, we announced a global multi-year program designed to enhance service excellence and innovation, deliver increased efficiencies in our operating model and position us for accelerated growth. The program includes operational and information technology enhancements and targeted cost initiatives, including planned reductions in both staff and occupancy costs. We initiated the first reduction in force in December 2010, which we expect to be substantially completed by the end of 2011. In connection with our efforts associated with the reduction in force, during the first three months of 2011, approximately 150 employees were involuntarily terminated and left State Street.

The following table presents activity related to restructuring-related accruals:


(In millions)	Employee- Related Costs			Real Estate Consolidation			Total
Balance at December 31, 2010	$	90			$	47		$	137
Payments and adjustments		(23	)			(2	)		(25	)

Balance at March 31, 2011	$	67			$	45		$	112

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Earnings Per Common Share

3 Months Ended

Mar. 31, 2011

Earnings Per Common Share

Earnings Per Common Share

Note 15. Earnings Per Common Share

The following table presents the computation of basic and diluted earnings per common share for the three months ended March 31:


(Dollars in millions, except per share amounts)	2011			2010
Net income	$	471			$	495
Less dividends and undistributed earnings allocated to participating securities⁽¹⁾		(5	)			(3	)

Net income available to common shareholders	$	466			$	492


Average shares outstanding (in thousands):
Basic average shares		497,471				494,588
Effect of dilutive securities: stock options and stock awards		3,509				3,468

Diluted average shares		500,980				498,056

Anti-dilutive securities⁽²⁾		1,311				10,316

Earnings per share:
Basic	$	.94			$	.99
Diluted⁽³⁾	$	.93			$	.99

⁽¹⁾

Represented the portion of net income available to common equity allocated to participating securities; participating securities, composed of unvested restricted stock and director stock, have non-forfeitable rights to dividends during the vesting period on a basis equivalent to dividends paid to common shareholders.

⁽²⁾	Represented stock options, restricted stock and other securities outstanding but not included in the computation of diluted average shares because their effect was anti-dilutive.

⁽³⁾	Calculation for 2011 reflected the allocation of earnings to participating securities using the two-class method, as this computation was more dilutive than the calculation using the treasury stock method.

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Line of Business Information

3 Months Ended

Mar. 31, 2011

Line of Business Information

Line of Business Information

Note 16. Line of Business Information

We report two lines of business: Investment Servicing and Investment Management. Given our services and management organization, the results of operations for these lines of business are not necessarily comparable with those of other companies, including companies in the financial services industry. Information about revenue, expense and capital allocation methodologies is provided in note 24 to the consolidated financial statements included in our 2010 Form 10-K.

The following table presents our line-of-business results. The amount presented in the "Other" column for 2011 represents merger and integration costs associated with acquisitions and restructuring charges related to the business operations and information technology transformation program. The amount presented in the "Other" column for 2010 represents merger and integration costs. The amounts presented in both "Other" columns were not allocated to State Street's business lines. During the first quarter of 2011, management revised its methodology with respect to funds transfer pricing, which is used in the measurement of business unit net interest revenue. Prior-year net interest revenue and average assets have been restated for comparative purposes to reflect the revised methodology.


	Three Months Ended March 31,
	Investment Servicing			Investment Management			Other		Total
(Dollars in millions, except where otherwise noted)	2011			2010			2011		2010		2011			2010			2011		2010
Fee revenue:
Servicing fees	$	1,095			$	895															$	1,095		$	895
Management fees		—				—		$	236		$	211										236			211
Trading services		302				242			—			—										302			242
Securities finance		59				58			7			14										66			72
Processing fees and other		69				90			23			30										92			120

Total fee revenue		1,525				1,285			266			255										1,791			1,540
Net interest revenue		535				627			42			34										577			661
Gains (Losses) related to investment securities, net		(7	)			95			—			—										(7	)		95

Total revenue		2,053				2,007			308			289										2,361			2,296
Provision for loan losses		(1	)			15			—			—										(1	)		15
Expenses from operations		1,453				1,348			230			218										1,683			1,566
Acquisition and restructuring costs		—				—			—			—			$	19		$	13			19			13

Total expenses		1,453				1,348			230			218				19			13			1,702			1,579

Income from continuing operations before income taxes	$	601			$	644		$	78		$	71			$	(19	)	$	(13	)	$	660		$	702

Pre-tax margin		29	%			32	%		25	%		25	%
Average assets (in billions)	$	153.5			$	137.9		$	5.1		$	5.0									$	158.6		$	142.9

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Non-U.S. Activities

3 Months Ended

Mar. 31, 2011

Non-U.S. Activities

Non-U.S. Activities

Note 17. Non-U.S. Activities

We define non-U.S. activities as those revenue-producing assets and business activities that arise from clients domiciled outside the U.S. Due to the nature of our business, precise segregation of U.S. and non-U.S. activities is not possible. Subjective judgments have been applied to determine results of operations related to our non-U.S. activities, including our application of transfer pricing and our asset and liability management policies. Interest expense allocations are based on the average cost of short-term borrowings.

The following table presents our non-U.S. operating results for the three months ended March 31:


(In millions)	2011			2010
Total fee revenue	$	743			$	635
Net interest revenue		155				155
Gains (Losses) related to investment securities, net		(6	)			63

Total revenue		892				853
Expenses		789				655

Income before income taxes		103				198
Income tax expense		26				75

Net income	$	77			$	123

The following table presents the significant components of our non-U.S. assets as of the dates indicated, based on the domicile of the underlying counterparties:


(In millions)	March 31, 2011		December 31, 2010
Interest-bearing deposits with banks	$	8,252		$	9,443
Non-U.S. investment securities		24,076			20,357
Other assets		19,686			17,212

Total assets	$	52,014		$	47,012

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Variable Interest Entities (Policy)	3 Months Ended
Mar. 31, 2011
Variable Interest Entities
Asset-Backed Securitization Trusts	We are involved with various types of variable interest entities, or VIEs, as defined by GAAP, some of which are recorded in our consolidated financial statements and all of which are described below. We also invest in various forms of asset-backed securities, which we carry in our investment securities portfolio. These asset-backed securities meet the GAAP definition of asset securitization entities, which entities are considered to be VIEs. We are not considered to be the primary beneficiary of these VIEs, as defined by GAAP, since we do not have control over their activities. Additional information about our asset-backed securities is provided in note 3.
Components of Tax-Exempt Investment Program Policy	*Tax-Exempt Investment Program* In the normal course of our business, we structure and sell certificated interests in pools of tax-exempt investment-grade assets, principally to our mutual fund clients. We structure these pools as partnership trusts, and the trusts are recorded in our consolidated statement of condition as investment securities available for sale and other short-term borrowings. We may also provide liquidity and re-marketing services to the trusts. As of March 31, 2011 and December 31, 2010, we carried investment securities available for sale, composed of securities related to state and political subdivisions, with a fair value of $2.79 billion and $2.85 billion, respectively, and other short-term borrowings of $2.45 billion and $2.50 billion, respectively, in our consolidated statement of condition in connection with these trusts. We transfer assets to the trusts from our investment securities portfolio at adjusted book value, and the trusts finance the acquisition of these assets by selling certificated interests issued by the trusts to third-party investors and to State Street as residual holder. These transfers do not meet the de-recognition criteria defined by GAAP, and therefore are recorded in our consolidated financial statements. The trusts had a weighted-average life of approximately 7.6 years at March 31, 2011, compared to approximately 7.7 years at December 31, 2010. Under separate legal agreements, we provide standby bond purchase agreements to these trusts, which obligate State Street to acquire the certificated interests at par value in the event that the re-marketing agent is unable to place the certificated interests with investors. Our obligations as standby bond purchase agreement provider terminate in the event of the following credit events: payment default, bankruptcy of the issuer and the credit enhancer, if any, the imposition of taxability, or the downgrade of an asset held by the trust below investment grade. Our commitments to the trusts under these standby bond purchase agreements totaled $2.49 billion at March 31, 2011, none of which was utilized at period-end. In the event that our obligations under these agreements are triggered, no material impact to our consolidated results of operations or financial condition is expected to occur, because the securities are already recorded at fair value in our consolidated statement of condition.
Asset-Backed Commercial Paper Program Policy	*Asset-Backed Commercial Paper Program* We sponsor and administer multi-seller asset-backed commercial paper programs, or conduits, which are recorded in our consolidated financial statements. These conduits, the first of which was established in 1992, were originally designed to satisfy the demand of our institutional clients, particularly mutual fund clients, for commercial paper. The conduits purchase financial assets with various asset classifications from a variety of independent third parties, and we consider the activities of the conduits in our liquidity management process. The conduits hold diversified investments, which are primarily asset-backed securities purchased from independent third parties, collateralized by student loans, automobile and equipment loans and credit card receivables, among other asset types. As of March 31, 2011 and December 31, 2010, we carried investment securities, composed primarily of asset-backed securities, with an aggregate carrying value of $6.03 billion and $6.11 billion, respectively, and loans, composed of purchased receivables, with a recorded investment of $1.98 billion and $2.20 billion, respectively, in our consolidated statement of condition in connection with the conduits. In addition, as of December 31, 2010 we carried aggregate short-term borrowings, composed of commercial paper, of $1.92 billion in connection with the conduits. There was no commercial paper outstanding as of March 31, 2011 associated with the conduits.
Collateralized Debt Obligations Policy	*Collateralized Debt Obligations* We serve as collateral manager for a series of collateralized debt obligations, referred to as CDOs. A CDO is a structured investment vehicle which purchases a portfolio of assets funded through the issuance of several classes of debt and equity, the repayment of and return on which are linked to the performance of the underlying assets. We have determined that we are not the primary beneficiary of these VIEs, and do not record them in our consolidated financial statements. At both March 31, 2011 and December 31, 2010, the aggregate notional amount of these CDOs was $1.0 billion. At March 31, 2011 and December 31, 2010, the carrying amount of the underlying collateral was $308 million and $323 million, respectively. We have not acquired or transferred any investment securities to a CDO since 2005.

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Investment Securities (Tables)

3 Months Ended

Mar. 31, 2011

Investment Securities

Schedule of Marketable Securities


	March 31, 2011		December 31, 2010
	Amortized Cost		Gross Unrealized			Fair Value		Amortized Cost	Gross Unrealized		Fair Value
(In millions)		Gains		Losses				Gains	Losses
Available for sale:
U.S. Treasury and federal agencies:
Direct obligations	$	7,440		$	19		$	2	$	7,457		$	7,505	$	74	$	2	$	7,577
Mortgage-backed securities		26,627			324			74		26,877			23,398		325		83		23,640
Asset-backed securities:
Student loans⁽¹⁾		16,442			99			617		15,924			14,975		93		652		14,416
Credit cards		8,500			57			18		8,539			7,429		53		31		7,451
Sub-prime		2,083			4			333		1,754			2,161		3		346		1,818
Other		1,484			186			73		1,597			1,508		174		94		1,588

Total asset-backed securities		28,509			346			1,041		27,814			26,073		323		1,123		25,273

Non-U.S. debt securities:
Mortgage-backed securities		8,105			81			46		8,140			6,258		82		46		6,294
Asset-backed securities		4,577			15			50		4,542			2,983		16		79		2,920
Government securities		2,770			—			—		2,770			2,913		—		—		2,913
Other		917			31			1		947			887		33		2		918

Total non-U.S. debt securities		16,369			127			97		16,399			13,041		131		127		13,045

State and political subdivisions		6,667			117			178		6,606			6,706		102		204		6,604
Collateralized mortgage obligations		1,996			55			17		2,034			1,828		49		16		1,861
Other U.S. debt securities		2,620			114			17		2,717			2,541		117		18		2,640
U.S. equity securities		631			3			—		634			1,115		—		—		1,115
Non-U.S. equity securities		150			3			—		153			122		5		1		126

Total	$	91,009		$	1,108		$	1,426	$	90,691		$	82,329	$	1,126	$	1,574	$	81,881

Held to maturity:
U.S. Treasury and federal agencies:
Mortgage-backed securities	$	364		$	24				$	388		$	413	$	26			$	439
Asset-backed securities		53			—		$	5		48			64		—	$	5		59
Non-U.S. debt securities:
Mortgage-backed securities		6,211			169			145		6,235			6,332		166		160		6,338
Asset-backed securities		644			20			4		660			646		18		3		661
Government securities		452			—			—		452			—		—		—		—
Other		217			—			1		216			208		—		2		206

Total non-U.S. debt securities		7,524			189			150		7,563			7,186		184		165		7,205

State and political subdivisions		126			3			—		129			134		3		—		137
Collateralized mortgage obligations		4,186			359			18		4,527			4,452		328		44		4,736

Total	$	12,253		$	575		$	173	$	12,655		$	12,249	$	541	$	214	$	12,576

⁽¹⁾	Substantially composed of securities guaranteed by the federal government with respect to the payment of principal and interest.

Schedule of Contractual Maturities of Debt Securities

(In millions)

Under 1
Year

1 to 5
Years

6 to 10
Years

Over 10
Years

Available for sale:

U.S. Treasury and federal agencies:

Direct obligations

3,166

2,287

1,496

508

Mortgage-backed securities

1,258

10,898

14,709

Asset-backed securities:

Student loans

124

3,714

8,502

3,584

Credit cards

1,113

6,183

1,243

—

Sub-prime

959

451

331

Other

110

852

335

300

Total asset-backed securities

2,306

11,200

10,093

4,215

Non-U.S. debt securities

3,077

4,422

2,916

5,984

State and political subdivisions

331

2,145

2,558

1,572

Collateralized mortgage obligations

1,082

342

538

Other U.S. debt securities

148

1,871

657

Total

9,112

24,265

28,960

27,567

Held to maturity:

U.S. Treasury and federal agencies:

Mortgage-backed securities

136

187

Asset-backed securities

—

Non-U.S. debt securities

1,154

2,028

326

4,016

State and political subdivisions

102

—

Collateralized mortgage obligations

395

2,019

408

1,364

Total

1,585

4,184

870

5,614

Critical Estimates Used in Roll Rate Analysis


	Sub-Prime			Alt-A		Non-Agency Prime
March 31, 2011:
Prepayment rate		2-3	%		6-7	%	7-9	%
Cumulative loss estimates		33			22		13
Loss severity⁽¹⁾		67			50		49
Peak-to-trough housing price decline⁽²⁾		36-41			36-41		36-41

	Sub-Prime			Alt-A		Non-Agency Prime
December 31, 2010:
Prepayment rate		2-3	%		7	%	7-10	%
Cumulative loss estimates		33			21		13
Loss severity⁽¹⁾		67			49		49
Peak-to-trough housing price decline⁽²⁾		35-40			35-40		35-40

⁽¹⁾	Loss severity rates consider the initial loan-to-value ratio, lien position, geography, expected collateral value and other factors.

⁽²⁾	Management's expectation of the Case-Shiller National Home Price Index.

Schedule of Gross Pretax Unrealized Losses on Investment Securities


	Less than 12 months		12 months or longer			Total
March 31, 2011 (In millions)	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses	Fair Value		Gross Unrealized Losses
Available for sale:
U.S. Treasury and federal agencies:
Direct obligations	$	1,058		$	1		$	100	$	1		$	1,158	$	2
Mortgage-backed securities		6,519			71			426		3			6,945		74
Asset-backed securities:
Student loans		1,681			18			9,461		599			11,142		617
Credit cards		972			4			2,063		14			3,035		18
Sub-prime		—			—			1,703		333			1,703		333
Other		35			4			453		69			488		73

Total asset-backed securities		2,688			26			13,680		1,015			16,368		1,041

Non-U.S. debt securities		3,949			26			1,234		71			5,183		97
State and political subdivisions		837			17			1,791		161			2,628		178
Collateralized mortgage obligations		422			6			33		11			455		17
Other U.S. debt securities		474			9			63		8			537		17

Total	$	15,947		$	156		$	17,327	$	1,270		$	33,274	$	1,426


Held to maturity:
Asset-backed securities							$	47	$	5		$	47	$	5
Non-U.S. debt securities	$	1,525		$	65			944		85			2,469		150
Collateralized mortgage obligations		133			3			300		15			433		18

Total	$	1,658		$	68		$	1,291	$	105		$	2,949	$	173


	Less than 12 months		12 months or longer			Total
December 31, 2010 (In millions)	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses	Fair Value		Gross Unrealized Losses
Available for sale:
U.S. Treasury and federal agencies:
Direct obligations							$	153	$	2		$	153	$	2
Mortgage-backed securities	$	6,637		$	81			431		2			7,068		83
Asset-backed securities:
Student loans		1,980			25			8,457		627			10,437		652
Credit cards		1,268			5			2,396		26			3,664		31
Sub-prime		—			—			1,768		346			1,768		346
Other		90			1			458		93			548		94

Total asset-backed securities		3,338			31			13,079		1,092			16,417		1,123

Non-U.S. debt securities		4,436			26			1,089		101			5,525		127
State and political subdivisions		1,097			19			1,967		185			3,064		204
Collateralized mortgage obligations		494			5			109		11			603		16
Other U.S. debt securities		360			8			61		10			421		18
U.S. equity securities		9			1			—		—			9		1

Total	$	16,371		$	171		$	16,889	$	1,403		$	33,260	$	1,574


Held to maturity:
Asset-backed securities							$	53	$	5		$	53	$	5
Non-U.S. debt securities	$	1,667		$	74			930		91			2,597		165
Collateralized mortgage obligations		125			3			575		41			700		44

Total	$	1,792		$	77		$	1,558	$	137		$	3,350	$	214

Gains and Losses Related to Investment Securities


(In millions)	2011			2010
Gross realized gains from sales of available-for-sale securities	$	7			$	198
Gross realized losses from sales of available-for-sale securities		(3	)			(6	)

Gross losses from other-than-temporary impairment		(35	)			(240	)
Losses not related to credit		24				143

Net impairment losses		(11	)			(97	)

Gains (Losses) related to investment securities, net	$	(7	)		$	95


Impairment associated with expected credit losses	$	(5	)		$	(89	)
Impairment associated with adverse changes in timing of expected future cash flows		(6	)			(8	)

Net impairment losses	$	(11	)		$	(97	)

Schedule of Credit Related Loss Activity Recognized in Earnings


(In millions)
Balance at December 31, 2010	$	63
Plus expected credit-related losses for which other-than-temporary impairment was not previously recognized		3
Plus expected credit-related losses for which other-than-temporary impairment was previously recognized		8

Balance at March 31, 2011	$	74

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Loans and Leases (Tables)

3 Months Ended

Mar. 31, 2011

Loans and Leases

Net Loans


(In millions)	March 31, 2011			December 31, 2010
Institutional:
Investment funds:
U.S.	$	6,158			$	5,316
Non-U.S.		1,498				1,478
Commercial and financial:
U.S.		703				540
Non-U.S.		213				190
Purchased receivables:
U.S.		631				728
Non-U.S.		1,351				1,471
Lease financing:
U.S.		415				417
Non-U.S.		1,061				1,053

Total institutional		12,030				11,193
Commercial real estate:
U.S.		696				764

Total loans and leases		12,726				11,957
Allowance for loan losses		(80	)			(100	)

Loans and leases, net of allowance for loan losses	$	12,646			$	11,857

Recorded Investment in Each Class of Total Loans and Leases by Credit Quality Indicator


	Institutional		Commercial Real Estate
March 31, 2011 (In millions)	Investment Funds		Commercial and Financial			Purchased Receivables		Lease Financing	Property Development		Other Acquired Credit- Impaired			Other		Total Loans and Leases
Investment grade	$	7,628		$	821		$	1,982	$	1,476		$	2		$	3	$	49	$	11,961
Speculative		28			45			—		—			365			47		108		593
Substandard		—			50			—		—			—			—		—		50
Doubtful		—			—			—		—			82			40		—		122

Total	$	7,656		$	916		$	1,982	$	1,476		$	449		$	90	$	157	$	12,726


	Institutional		Commercial Real Estate
December 31, 2010 (In millions)	Investment Funds		Commercial and Financial			Purchased Receivables		Lease Financing	Property Development		Property Development Acquired- Credit Impaired			Other Acquired Credit- Impaired		Other	Total Loans and Leases
Investment grade	$	6,674		$	579		$	2,199	$	1,470		$	3				$	3	$	49	$	10,977
Speculative		120			101			—		—			362					47		108		738
Substandard		—			50			—		—			—					—		—		50
Doubtful		—			—			—		—			86		$	42		49		15		192

Total	$	6,794		$	730		$	2,199	$	1,470		$	451		$	42	$	99	$	172	$	11,957

Schedule Of Allowance For Loan Losses


	Institutional		Commercial Real Estate			Total Loans and Leases
	March 31, 2011		December 31, 2010			March 31, 2011		December 31, 2010	March 31, 2011		December 31, 2010
(In millions)
Loans and leases:
Individually evaluated for impairment	$	113		$	112		$	606	$	623		$	719	$	735
Collectively evaluated for impairment		11,917			11,081			—		—			11,917		11,081
Loans acquired with deteriorated credit quality		—			—			90		141			90		141

Ending balance	$	12,030		$	11,193		$	696	$	764		$	12,726	$	11,957

Allowance for loan losses:
Individually evaluated for impairment							$	24	$	24		$	24	$	24
Collectively evaluated for impairment	$	31		$	31			—		—			31		31
Loans acquired with deteriorated credit quality		—			—			25		45			25		45

Total	$	31		$	31		$	49	$	69		$	80	$	100

Impaired Loans


	As of March 31, 2011		Three months ended March 31, 2011			As of December 31, 2010
(In millions)	Recorded Investment		Unpaid Principal Balance			Related Allowance⁽¹⁾		Average Recorded Investment	Interest Revenue Recognized	Recorded Investment			Unpaid Principal Balance		Related Allowance⁽¹⁾
With no related allowance recorded:
CREproperty development	$	204		$	235				$		$	4		$	209	$	240
CREproperty developmentacquired credit-impaired					3												34
CREotheracquired credit-impaired		15			48										16		47
CREother		12			14							1			27		29

With an allowance recorded:
CREproperty development		80			116		$	24							79		113	$	24
CREproperty developmentacquired credit-impaired															42		47		19
CREotheracquired credit-impaired		75			84			25							83		100		26
CREother		7			9												9

Total CRE	$	393		$	509		$	49	$		$	5		$	463	$	619	$	69

⁽¹⁾	As of both March 31, 2011 and December 31, 2010, there was an additional allowance for loan losses of $31 million associated with loans and leases that were not impaired.

Financing Receivables on Non-accrual Status


(In millions)	March 31, 2011		December 31, 2010
Commercial Real Estate:
Property development	$	80		$	79
Property development—acquired credit-impaired		—			42
Other—acquired credit-impaired		13			22
Other		—			15

Total	$	93		$	158

Schedule of Activity in the Allowance for Loan Losses


(In millions)		2011			2010
	Institutional			Commercial Real Estate			Total Loans and Leases		Total Loans and Leases
Allowance for loan losses:
Beginning balance		$	31			$	69		$	100		$	79
Charge-offs			—				(19	)		(19	)		(3	)
Provisions			—				(1	)		(1	)		15

Ending balance		$	31			$	49		$	80		$	91

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Goodwill and Other Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2011

Goodwill and Other Intangible Assets

Changes in the Carrying Amount of Goodwill


(In millions)	Investment Servicing			Investment Management			Total
Balance at December 31, 2009	$	4,544			$	6		$	4,550
Foreign currency translation, net		(35	)			—			(35	)

Balance at March 31, 2010	$	4,509			$	6		$	4,515

Balance at December 31, 2010	$	5,591			$	6		$	5,597
Acquisition of BIAM		—				31			31
Foreign currency translation, net		92				—			92

Balance at March 31, 2011	$	5,683			$	37		$	5,720

Changes in the Carrying Amount of Other Intangible Assets


	2011			2010
(In millions)	Investment Servicing			Investment Management			Total		Investment Servicing		Investment Management			Total
Beginning balance	$	2,559			$	34		$	2,593		$	1,760			$	50		$	1,810
Acquisition of BIAM		—				27			27			—				—			—
Amortization		(46	)			(3	)		(49	)		(32	)			(2	)		(34	)
Foreign currency translation, net		70				1			71			(14	)			(2	)		(16	)
Other		—				2			2			—				8			8

Ending balance	$	2,583			$	61		$	2,644		$	1,714			$	54		$	1,768

Gross Carrying Amount and Accumulated Amortization of Other Intangible Assets


	March 31, 2011		December 31, 2010
(In millions)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Net Carrying Amount
Customer relationships	$	2,428		$	(565	)	$	1,863	$	1,821
Core deposits		724			(92	)		632		627
Other		219			(70	)		149		145

Total	$	3,371		$	(727	)	$	2,644	$	2,593

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Other Assets (Tables)

3 Months Ended

Mar. 31, 2011

Other Assets

Components of Other Assets


(In millions)	March 31, 2011		December 31, 2010
Unrealized gains on derivative financial instruments	$	6,365		$	5,255
Collateral deposits		5,232			3,251
Deferred tax assets, net of valuation allowance		1,725			1,786
Investments in joint ventures and other unconsolidated entities		966			927
Income taxes receivable		641			530
Accounts receivable		1,047			403
Prepaid expenses		374			382
Other		1,091			1,266

Total	$	17,441		$	13,800

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Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2011

Commitments and Contingencies

Schedule of Repurchase Agreements


(In millions)	March 31, 2011		December 31, 2010
Aggregate fair value of indemnified securities financing	$	350,286		$	334,235
Aggregate fair value of cash and securities held as collateral for indemnified securities financing		360,922			343,410
Aggregate fair value of collateral for indemnified securities financing invested in indemnified repurchase agreements⁽¹⁾		94,856			89,069
Aggregate fair value of cash and securities held as collateral for indemnified repurchase agreements		99,434			93,294

⁽¹⁾	We require the counterparty to the indemnified repurchase agreement to provide collateral in an amount equal to or in excess of 100% of the amount of the repurchase obligation.

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Shareholders' Equity (Tables)

3 Months Ended

Mar. 31, 2011

Shareholders' Equity

Schedule of Accumulated Other Comprehensive Loss


(In millions)	March 31, 2011			December 31, 2010
Foreign currency translation	$	576			$	216
Net unrealized loss on hedges of net investments in non-U.S. subsidiaries		(14	)			(14	)

Net unrealized loss on available-for-sale securities portfolio		(49	)			(90	)
Net unrealized loss related to reclassified available-for-sale securities		(293	)			(317	)

Net unrealized loss on available-for-sale securities		(342	)			(407	)
Net unrealized loss on fair value hedges of available-for-sale securities		(120	)			(135	)
Expected losses from other-than-temporary impairment on available-for-sale securities related to factors other than credit		(15	)			(17	)
Expected losses from other-than-temporary impairment on held-to-maturity securities related to factors other than credit		(108	)			(111	)
Minimum pension liability		(203	)			(210	)
Net unrealized loss on cash flow hedges		(12	)			(11	)

Total	$	(238	)		$	(689	)

Total Comprehensive Income


(In millions)	2011		2010
Net income	$	471		$	495
Other comprehensive income		451			380

Total comprehensive income	$	922		$	875

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Fair Value (Tables)

3 Months Ended

Mar. 31, 2011

Fair Value

Schedule of Fair Value Measurements on a Recurring Basis

Fair Value Measurements on a Recurring Basis
as of March 31, 2011

(In millions)

Quoted Market
Prices in Active
Markets
(Level 1)

Pricing Methods
with Significant
Observable Market
Inputs
(Level 2)

Pricing Methods
with Significant
Unobservable Market
Inputs
(Level 3)

Impact of
Netting⁽¹⁾

Total Net
Carrying Value
in Consolidated
Statement of
Condition

Assets:

Trading account assets

1,688

144

1,832

Investment securities available for sale:

U.S. Treasury and federal agencies:

Direct obligations

6,429

1,028

7,457

Mortgage-backed securities

—

25,979

898

26,877

Asset-backed securities:

Student loans

—

14,616

1,308

15,924

Credit cards

—

8,480

8,539

Sub-prime

—

1,754

—

1,754

Other

—

509

1,088

1,597

Total asset-backed securities

—

25,359

2,455

27,814

Non-U.S. debt securities

—

13,410

2,989

16,399

State and political subdivisions

—

6,555

6,606

Collateralized mortgage obligations

—

1,806

228

2,034

Other U.S. debt securities

—

2,714

2,717

U.S. equity securities

—

634

—

634

Non-U.S. equity securities

145

—

153

Total investment securities available for sale

6,437

77,630

6,624

90,691

Other assets

137

9,042

235

(2,912

)

6,502

Total assets carried at fair value

8,262

86,816

6,859

(2,912

)

99,025

Liabilities:

Accrued expenses and other liabilities

2,130

9,004

241

(2,912

)

8,463

Total liabilities carried at fair value

2,130

9,004

241

(2,912

)

8,463

⁽¹⁾	Represents counterparty netting against level 2 financial assets and liabilities, where a legally enforceable master netting agreement exists between State Street and the counterparty.


	Fair Value Measurements on a Recurring Basis as of December 31, 2010
(In millions)	Quoted Market Prices in Active Markets (Level 1)		Pricing Methods with Significant Observable Market Inputs (Level 2)			Pricing Methods with Significant Unobservable Market Inputs (Level 3)		Impact of Netting⁽¹⁾	Total Net Carrying Value in Consolidated Statement of Condition
Assets:
Trading account assets	$	357		$	122							$	479
Investment securities available for sale:
U.S. Treasury and federal agencies:
Direct obligations		6,529			1,048								7,577
Mortgage-backed securities		—			22,967		$	673					23,640
Asset-backed securities:
Student loans		—			13,182			1,234					14,416
Credit cards		—			7,423			28					7,451
Sub-prime		—			1,818			—					1,818
Other		—			568			1,020					1,588

Total asset-backed securities		—			22,991			2,282					25,273

Non-U.S. debt securities		—			10,905			2,140					13,045
State and political subdivisions		—			6,554			50					6,604
Collateralized mortgage obligations		—			1,502			359					1,861
Other U.S. debt securities		—			2,637			3					2,640
U.S. equity securities		—			1,115			—					1,115
Non-U.S. equity securities		7			119			—					126

Total investment securities available for sale		6,536			69,838			5,507					81,881
Other assets		168			7,971			254	$	(2,970	)		5,423

Total assets carried at fair value	$	7,061		$	77,931		$	5,761	$	(2,970	)	$	87,783

Liabilities:
Accrued expenses and other liabilities	$	723		$	8,557		$	269	$	(2,970	)	$	6,579

Total liabilities carried at fair value	$	723		$	8,557		$	269	$	(2,970	)	$	6,579

⁽¹⁾	Represents counterparty netting against level 2 financial assets and liabilities, where a legally enforceable master netting agreement exists between State Street and the counterparty.

Schedule of Fair Value Measurements Using Significant Unobservable Inputs


	Fair Value Measurements Using Significant Unobservable Inputs Three Months Ended March 31, 2011
	Fair Value at December 31, 2010		Transfers into Level 3			Transfers out of Level 3		Total Realized and Unrealized Gains (Losses)		Purchases			Sales			Settlements		Fair Value at March 31, 2011	Change in Unrealized Gains (Losses) Related to Financial Instruments Held at March 31, 2011
(In millions)			Recorded in Revenue			Recorded in Other Comprehensive Income
Assets:
Investment securities available for sale:
U.S. Treasury and federal agencies:
Mortgage-backed securities	$	673					$	(403	)					$	1		$	636		$	(9	)	$	898
Asset-backed securities:
Student loans		1,234						(33	)	$	2				1			121			(17	)		1,308
Credit cards		28						—			1				(1	)		31			—			59
Other		1,020						—			6				22			98			(58	)		1,088

Total asset-backed securities		2,282						(33	)		9				22			250			(75	)		2,455

Non-U.S. debt securities		2,140						(258	)		2				34			1,141			(70	)		2,989
State and political subdivisions		50						—			—				1			—			—			51
Collateralized mortgage obligations		359						(132	)		133				(2	)		23			(153	)		228
Other U.S. debt securities		3						—			—				—			—			—			3

Total investment securities available for sale		5,507						(826	)		144				56			2,050			(307	)		6,624
Other assets		254		$	1			—			(87	)			—			125			(58	)		235	$	(46	)

Total assets carried at fair value	$	5,761		$	1		$	(826	)	$	57			$	56		$	2,175		$	(365	)	$	6,859	$	(46	)


	Fair Value Measurements Using Significant Unobservable Inputs Three Months Ended March 31, 2011
	Fair Value at December 31, 2010		Transfers into Level 3			Transfers out of Level 3	Total Realized and Unrealized (Gains) Losses	Purchases			Sales	Settlements	Fair Value at March 31, 2011	Change in Unrealized (Gains) Losses Related to Financial Instruments Held at March 31, 2011
(In millions)			Recorded in Revenue			Recorded in Other Comprehensive Income
Liabilities:
Accrued expenses and other liabilities	$	269		$	1			$	(78	)				$	117	$	(68	)	$	241	$	(47	)

Total liabilities carried at fair value	$	269		$	1			$	(78	)				$	117	$	(68	)	$	241	$	(47	)


	Fair Value Measurements Using Significant Unobservable Inputs Three Months Ended March 31, 2010
	Fair Value at December 31, 2009		Total Realized and Unrealized Gains (Losses)			Purchases, Issuances and Settlements, Net		Transfers Into and/ or Out of Level 3		Fair Value at March 31, 2010			Change in Unrealized Gains (Losses) Related to Financial Instruments Held at March 31, 2010
(In millions)		Recorded in Revenue		Recorded in Other Comprehensive Income
Assets:
Investment securities available for sale:
U.S. Treasury and federal agencies:
Mortgage-backed securities	$	58								$	167						$	225
Asset-backed securities:
Student loans		3,175		$	3		$	71			28			$	(164	)		3,113
Credit cards		327			14			(14	)		(28	)			(274	)		25
Sub-prime		3			—			—			—				—			3
Other		1,884			27			121			(87	)			(87	)		1,858

Total asset-backed securities		5,389			44			178			(87	)			(525	)		4,999

Non-U.S. debt securities		1,777			48			52			103				(99	)		1,881
State and political subdivisions		2			—			—			—				(2	)		—
Collateralized mortgage obligations		199			(209	)		7			198				—			195
Other U.S. debt securities		3			—			—			—				—			3

Total investment securities available for sale		7,428			(117	)		237			381				(626	)		7,303
Loans and leases		—			(6	)		—			(23	)			945			916
Other assets		128			(47	)		—			128				—			209	$	(39	)

Total assets carried at fair value	$	7,556		$	(170	)	$	237		$	486			$	319		$	8,428	$	(39	)


	Fair Value Measurements Using Significant Unobservable Inputs Three Months Ended March 31, 2010
(In millions)	Fair Value at December 31, 2009		Total Realized and Unrealized (Gains) Losses			Purchases, Issuances and Settlements, Net	Transfers Into and/ or Out of Level 3	Fair Value at March 31, 2010			Change in Unrealized (Gains) Losses Related to Financial Instruments Held at March 31, 2010
	Recorded in Revenue		Recorded in Other Comprehensive Income
Liabilities:
Other short-term borrowings				$	(11	)		$	(27	)		$	712	$	674
Accrued expenses and other liabilities	$	147			(55	)			120				—		212	$	(42	)

Total liabilities carried at fair value	$	147		$	(66	)		$	93			$	712	$	886	$	(42	)

Level 3 Total Realized and Unrealized Gains and Losses Recorded in Revenue


	Three Months Ended March 31, 2011			Three Months Ended March 31, 2010
(In millions)	Total Realized and Unrealized Gains (Losses) Recorded in Revenue			Change in Unrealized Gains (Losses) Related to Financial Instruments Held at March 31, 2011			Total Realized and Unrealized Gains (Losses) Recorded in Revenue		Change in Unrealized Gains (Losses) Related to Financial Instruments Held at March 31, 2010
Fee revenue:
Trading services	$	(9	)		$	1		$	8		$	3
Processing fees and other		—				—			5			—

Total fee revenue		(9	)			1			13			3
Net interest revenue		144				—			(117	)		—

Total revenue	$	135			$	1		$	(104	)	$	3

Reported Amounts and Estimated Fair Values for Financial Instruments


(In millions)	Reported Amount		Fair Value
March 31, 2011:
Financial Assets:
Investment securities held to maturity	$	12,253		$	12,655
Net loans (excluding leases)		11,170			11,053

Financial Liabilities:
Long-term debt		9,531			9,553

December 31, 2010:
Financial Assets:
Investment securities held to maturity	$	12,249		$	12,576
Net loans (excluding leases)		10,387			10,242

Financial Liabilities:
Long-term debt		8,550			8,498

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Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2011

Derivative Financial Instruments

Schedule of Outstanding Hedges: (Notional Amount)


(In millions)	March 31, 2011		December 31, 2010
Trading:
Interest-rate contracts:
Swap agreements	$	106,478		$	52,383
Options and caps purchased		1,046			140
Options and caps written		604			130
Futures		101,481			25,253
Foreign exchange contracts:
Forward, swap and spot		798,688			637,847
Options purchased		15,669			14,299
Options written		15,337			14,587
Credit derivative contracts:
Credit default swap agreements		155			155
Other:
Stable value contracts		44,918			46,758

Asset and liability management:
Interest-rate contracts:
Swap agreements		2,302			1,886

Notional Amount of Interest Rate Swap Agreements Designated as Fair Value and Cash Flow Hedges


	March 31, 2011		December 31, 2010
(In millions)	Fair Value Hedges		Cash Flow Hedges			Total		Fair Value Hedges	Cash Flow Hedges		Total
Investment securities available for sale	$	1,474		$	128		$	1,602	$	1,561		$	125	$	1,686
Long-term debt⁽¹⁾		700			—			700		200			—		200

Total	$	2,174		$	128		$	2,302	$	1,761		$	125	$	1,886

⁽¹⁾	As of March 31, 2011 and December 31, 2010, fair value hedges of long-term debt increased the carrying value of long-term debt presented in our consolidated statement of condition by $76 million and $81 million, respectively.

Contractual and Weighted-Average Interest Rates, Which Include the Effects of Hedges Related to Financial Instruments


	2011			2010
	Contractual Rates			Rate Including Impact of Hedges		Contractual Rates	Rate Including Impact of Hedges
Long-term debt		3.55	%		3.20	%	3.74	%	3.28	%

Schedule of the Fair Values of Derivative Financial Instruments

Asset Derivatives

Liability Derivatives

March 31, 2011

(In millions)

Balance Sheet
Location

Fair
Value

Balance Sheet
Location

Fair
Value

Derivatives utilized in trading activities:

Interest-rate contracts

Other assets

1,169

Other liabilities

1,156

Foreign exchange contracts

Other assets

8,071

Other liabilities

7,885

Credit derivative contracts

Other assets

—

Other liabilities

Equity derivative contracts

Other assets

Other liabilities

—

Total

9,241

9,042

Derivatives designated as hedges:

Interest-rate contracts

Other assets

Other liabilities

203

Total

203


	Asset Derivatives		Liability Derivatives
	December 31, 2010		December 31, 2010
(In millions)	Balance Sheet Location	Fair Value		Balance Sheet Location		Fair Value
Derivatives utilized in trading activities:
Interest-rate contracts	Other assets	$	412		Other liabilities		$	423
Foreign exchange contracts	Other assets		7,779		Other liabilities			8,174
Credit derivative contracts	Other assets		1		Other liabilities			1
Equity derivative contracts	Other assets		1		Other liabilities			—

Total		$	8,193				$	8,598

Derivatives designated as hedges:
Interest-rate contracts	Other assets	$	32		Other liabilities		$	228

Total		$	32				$	228

Impact of Derivatives on Consolidated Statement of Income


	Location of Gain (Loss) on Derivative in Consolidated Statement of Income		Amount of Gain (Loss) on Derivative Recognized in Consolidated Statement of Income
(In millions)			Three Months Ended March 31, 2011			Three Months Ended March 31, 2010
Derivatives utilized in trading activities:
Interest-rate contracts		Trading services revenue		$	(10	)	$	(1	)
Interest-rate contracts		Processing fees and other revenue			—			11
Foreign exchange contracts		Trading services revenue			159			143
Foreign exchange contracts		Processing fees and other revenue			5			2

Total				$	154		$	155

Location of
Gain (Loss) on
Derivative in
Consolidated
Statement of Income

Amount of Gain
(Loss) on Derivative
Recognized in
Consolidated
Statement of Income

Hedged Item
in Fair
Value
Hedging
Relationship

Location of Gain
(Loss) on
Hedged Item in
Consolidated
Statement of
Income

Amount of Gain
(Loss) on Hedged
Item Recognized in
Consolidated
Statement of Income

(In millions)

Three Months
Ended
March 31, 2011

Derivatives designated as fair value hedges:

Interest-rate contracts

Processing fees and

other revenue

)

Long-term debt

Processing fees and
other revenue

Interest-rate contracts

Processing fees and

other revenue

Available-for-sale
securities

Processing fees and
other revenue

(25

)

Total

(22

)

Location of
Gain (Loss) on
Derivative in
Consolidated
Statement of Income

Amount of Gain
(Loss) on Derivative
Recognized in
Consolidated
Statement of Income

Hedged Item
in Fair
Value
Hedging
Relationship

Location of Gain
(Loss) on
Hedged Item in
Consolidated
Statement of
Income

Amount of Gain
(Loss) on Hedged
Item Recognized in
Consolidated
Statement of Income

(In millions)

Three Months
Ended
March 31, 2010

Derivatives designated as fair value hedges:

Interest-rate contracts

Processing fees and

other revenue

Long-term debt

Processing fees and
other revenue

Interest-rate contracts

Processing fees and

other revenue

)

Available-for-sale
securities

Processing fees and
other revenue

Total

)

Schedule of Differences Between the Gains (Losses) on the Derivative and the Gains (Losses) on the Hedged Item


	Amount of Gain (Loss) on Derivative Recognized in Other Comprehensive Income		Location of Gain (Loss) Reclassified from OCI to Consolidated Statement of Income		Amount of Gain (Loss) Reclassified from OCI to Consolidated Statement of Income		Location of Gain (Loss) on Derivative Recognized in Consolidated Statement of Income		Amount of Gain (Loss) on Derivative Recognized in Consolidated Statement of Income
(In millions)	Three Months Ended March 31, 2011				Three Months Ended March 31, 2011				Three Months Ended March 31, 2011
Derivatives designated as cash flow hedges:
Interest-rate contracts		—		Net interest revenue		$	(2	)		Net interest revenue	$	1

Total		—				$	(2	)			$	1


		Amount of Gain (Loss) on Derivative Recognized in Other Comprehensive Income	Location of Gain (Loss) Reclassified from OCI to Consolidated Statement of Income			Amount of Gain (Loss) Reclassified from OCI to Consolidated Statement of Income			Location of Gain (Loss) on Derivative Recognized in Consolidated Statement of Income	Amount of Gain (Loss) on Derivative Recognized in Consolidated Statement of Income
(In millions)	Three Months Ended March 31, 2010				Three Months Ended March 31, 2010						Three Months Ended March 31, 2010
Derivatives designated as cash flow hedges:
Interest-rate contracts		—		Net interest revenue			$	(1	)			Net interest revenue	$	2

Total		—					$	(1	)				$	2

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Net Interest Revenue (Tables)

3 Months Ended

Mar. 31, 2011

Net Interest Revenue

Components of Interest Revenue and Interest Expenses


(In millions)	2011		2010
Interest revenue:
Deposits with banks	$	27		$	19
Investment securities:
U.S. Treasury and federal agencies		206			139
State and political subdivisions		56			54
Other investments		355			550
Securities purchased under resale agreements		10			4
Loans and leases⁽¹⁾		80			111
Other interest-earning assets		—			1

Total interest revenue		734			878

Interest expense:
Deposits		58			33
Short-term borrowings⁽¹⁾		27			111
Long-term debt		71			72
Other interest-bearing liabilities		1			1

Total interest expense		157			217

Net interest revenue	$	577		$	661

⁽¹⁾	Amounts for 2010 included $53 million related to the third-party asset-backed securitization trusts consolidated into our financial statements on January 1, 2010 in connection with our adoption of new GAAP. These trusts were de-consolidated in June 2010.

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Other Expenses (Tables)

3 Months Ended

Mar. 31, 2011

Other Expenses

Activity Related to Restructuring Related Accruals


(In millions)	Employee- Related Costs			Real Estate Consolidation			Total
Balance at December 31, 2010	$	90			$	47		$	137
Payments and adjustments		(23	)			(2	)		(25	)

Balance at March 31, 2011	$	67			$	45		$	112

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Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2011

Earnings Per Common Share

Computation of Basic and Diluted Earnings Per Share


(Dollars in millions, except per share amounts)	2011			2010
Net income	$	471			$	495
Less dividends and undistributed earnings allocated to participating securities⁽¹⁾		(5	)			(3	)

Net income available to common shareholders	$	466			$	492


Average shares outstanding (in thousands):
Basic average shares		497,471				494,588
Effect of dilutive securities: stock options and stock awards		3,509				3,468

Diluted average shares		500,980				498,056

Anti-dilutive securities⁽²⁾		1,311				10,316

Earnings per share:
Basic	$	.94			$	.99
Diluted⁽³⁾	$	.93			$	.99

⁽¹⁾

⁽²⁾	Represented stock options, restricted stock and other securities outstanding but not included in the computation of diluted average shares because their effect was anti-dilutive.

⁽³⁾	Calculation for 2011 reflected the allocation of earnings to participating securities using the two-class method, as this computation was more dilutive than the calculation using the treasury stock method.

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Line of Business Information (Tables)

3 Months Ended

Mar. 31, 2011

Line of Business Information

Summary of Line of Business Results


	Three Months Ended March 31,
	Investment Servicing			Investment Management			Other		Total
(Dollars in millions, except where otherwise noted)	2011			2010			2011		2010		2011			2010			2011		2010
Fee revenue:
Servicing fees	$	1,095			$	895															$	1,095		$	895
Management fees		—				—		$	236		$	211										236			211
Trading services		302				242			—			—										302			242
Securities finance		59				58			7			14										66			72
Processing fees and other		69				90			23			30										92			120

Total fee revenue		1,525				1,285			266			255										1,791			1,540
Net interest revenue		535				627			42			34										577			661
Gains (Losses) related to investment securities, net		(7	)			95			—			—										(7	)		95

Total revenue		2,053				2,007			308			289										2,361			2,296
Provision for loan losses		(1	)			15			—			—										(1	)		15
Expenses from operations		1,453				1,348			230			218										1,683			1,566
Acquisition and restructuring costs		—				—			—			—			$	19		$	13			19			13

Total expenses		1,453				1,348			230			218				19			13			1,702			1,579

Income from continuing operations before income taxes	$	601			$	644		$	78		$	71			$	(19	)	$	(13	)	$	660		$	702

Pre-tax margin		29	%			32	%		25	%		25	%
Average assets (in billions)	$	153.5			$	137.9		$	5.1		$	5.0									$	158.6		$	142.9

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Non-U.S. Activities (Tables)

3 Months Ended

Mar. 31, 2011

Non-U.S. Activities

Schedule of Results From Non-U.S. Operations


(In millions)	2011			2010
Total fee revenue	$	743			$	635
Net interest revenue		155				155
Gains (Losses) related to investment securities, net		(6	)			63

Total revenue		892				853
Expenses		789				655

Income before income taxes		103				198
Income tax expense		26				75

Net income	$	77			$	123

Summary of Non-U.S. Assets


(In millions)	March 31, 2011		December 31, 2010
Interest-bearing deposits with banks	$	8,252		$	9,443
Non-U.S. investment securities		24,076			20,357
Other assets		19,686			17,212

Total assets	$	52,014		$	47,012

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Acquisitions (Narrative) (Details) In Millions	3 Months Ended	12 Months Ended
Mar. 31, 2011 USD ( $)	Dec. 31, 2010 EUR ( €)	Dec. 31, 2010 USD ( $)	Mar. 31, 2010 USD ( $)	Dec. 31, 2009 USD ( $)	Mar. 31, 2011 Bank of Ireland Asset Management [Member] USD ( $)	Mar. 31, 2011 Intesa Sanpaolo's Securities Services [Member] USD ( $)
Assessment for taxes, penalties and interest		€ 130
Goodwill resulting from acquisition						31	932
Other intangible assets	2,644		2,593	1,768	1,810	27	848
Contingent asset	58		72
Acquired BIAM assets under management						$ 23

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Investment Securities (Narrative) (Details) (USD $)	3 Months Ended	12 Months Ended
Mar. 31, 2011	Mar. 31, 2010	Dec. 31, 2010
Aggregate investment securities carried	$ 44,500,000,000		$ 44,810,000,000
Net impairment losses	11,000,000	97,000,000
Recovery of claimed amounts	20.00%
Unrealized loss on available-for-sale securities	1,426,000,000		1,574,000,000
Gross pre-tax unrealized losses on securities	(1,600,000,000)
Number of investment securities	2,059
Asset-Backed Securities [Member]
Unrealized loss on available-for-sale securities	1,041,000,000		1,123,000,000
Credit-related other-than-temporary impairment	2,000,000	66,000,000
Sub-Prime [Member]
Unrealized loss on available-for-sale securities	333,000,000		346,000,000
Credit-related other-than-temporary impairment	1,000,000	1,000,000
Alt-A [Member]
Credit-related other-than-temporary impairment	1,000,000	20,000,000
Non-Agency Prime [Member]
Credit-related other-than-temporary impairment		$ 45,000,000
Federal Family Education Loan Program [Member]
Federal government credit support guarantee, percentage minimum	97.00%
Collective credit support, percentage minimum	100.00%

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Investment Securities (Schedule of Marketable Securities) (Details) (USD $) In Millions	3 Months Ended	12 Months Ended
Mar. 31, 2011	Dec. 31, 2010
Available for sale, Amortized Cost	$ 91,009		$ 82,329
Available for sale, Unrealized Gains Gross	1,108		1,126
Available for sale, Unrealized losses Gross	1,426		1,574
Available for sale, Fair Value	90,691		81,881
Held to maturity, Amortized Cost	12,253		12,249
Held to maturity, Gross Unrealized Gains	575		541
Held to maturity, Gross Unrealized Losses	173		214
Held to maturity, Fair Value	12,655		12,576
US Treasury and Federal Agencies [Member] \| Mortgage-Backed Securities [Member]
Available for sale, Amortized Cost	26,627		23,398
Available for sale, Unrealized Gains Gross	324		325
Available for sale, Unrealized losses Gross	74		83
Available for sale, Fair Value	26,877		23,640
Held to maturity, Amortized Cost	364		413
Held to maturity, Gross Unrealized Gains	24		26
Held to maturity, Fair Value	388		439
Asset-Backed Securities [Member] \| Non-U.S. Debt Securities [Member]
Available for sale, Amortized Cost	4,577		2,983
Available for sale, Unrealized Gains Gross	15		16
Available for sale, Unrealized losses Gross	50		79
Available for sale, Fair Value	4,542		2,920
Held to maturity, Amortized Cost	644		646
Held to maturity, Gross Unrealized Gains	20		18
Held to maturity, Gross Unrealized Losses	4		3
Held to maturity, Fair Value	660		661
Non-U.S. Debt Securities [Member] \| Mortgage-Backed Securities [Member]
Available for sale, Amortized Cost	8,105		6,258
Available for sale, Unrealized Gains Gross	81		82
Available for sale, Unrealized losses Gross	46		46
Available for sale, Fair Value	8,140		6,294
Held to maturity, Amortized Cost	6,211		6,332
Held to maturity, Gross Unrealized Gains	169		166
Held to maturity, Gross Unrealized Losses	145		160
Held to maturity, Fair Value	6,235		6,338
Non-U.S. Debt Securities [Member]
Available for sale, Amortized Cost	16,369		13,041
Available for sale, Unrealized Gains Gross	127		131
Available for sale, Unrealized losses Gross	97		127
Available for sale, Fair Value	16,399		13,045
Held to maturity, Amortized Cost	7,524		7,186
Held to maturity, Gross Unrealized Gains	189		184
Held to maturity, Gross Unrealized Losses	150		165
Held to maturity, Fair Value	7,563		7,205
Direct Obligations [Member]
Available for sale, Amortized Cost	7,440		7,505
Available for sale, Unrealized Gains Gross	19		74
Available for sale, Unrealized losses Gross	2		2
Available for sale, Fair Value	7,457		7,577
Student Loans [Member]
Available for sale, Amortized Cost	16,442	^[1]	14,975	^[1]
Available for sale, Unrealized Gains Gross	99	^[1]	93	^[1]
Available for sale, Unrealized losses Gross	617	^[1]	652	^[1]
Available for sale, Fair Value	15,924	^[1]	14,416	^[1]
Credit Cards [Member]
Available for sale, Amortized Cost	8,500		7,429
Available for sale, Unrealized Gains Gross	57		53
Available for sale, Unrealized losses Gross	18		31
Available for sale, Fair Value	8,539		7,451
Sub-Prime [Member]
Available for sale, Amortized Cost	2,083		2,161
Available for sale, Unrealized Gains Gross	4		3
Available for sale, Unrealized losses Gross	333		346
Available for sale, Fair Value	1,754		1,818
Other Asset-Backed Securities [Member]
Available for sale, Amortized Cost	1,484		1,508
Available for sale, Unrealized Gains Gross	186		174
Available for sale, Unrealized losses Gross	73		94
Available for sale, Fair Value	1,597		1,588
Asset-Backed Securities [Member]
Available for sale, Amortized Cost	28,509		26,073
Available for sale, Unrealized Gains Gross	346		323
Available for sale, Unrealized losses Gross	1,041		1,123
Available for sale, Fair Value	27,814		25,273
Held to maturity, Amortized Cost	53		64
Held to maturity, Gross Unrealized Gains
Held to maturity, Gross Unrealized Losses	5		5
Held to maturity, Fair Value	48		59
Other Non-U.S. Debt Securities [Member]
Available for sale, Amortized Cost	917		887
Available for sale, Unrealized Gains Gross	31		33
Available for sale, Unrealized losses Gross	1		2
Available for sale, Fair Value	947		918
Held to maturity, Amortized Cost	217		208
Held to maturity, Gross Unrealized Losses	1		2
Held to maturity, Fair Value	216		206
Government Securities [Member]
Available for sale, Amortized Cost	2,770		2,913
Available for sale, Fair Value	2,770		2,913
Held to maturity, Amortized Cost	452
Held to maturity, Fair Value	452
State and Political Subdivisions [Member]
Available for sale, Amortized Cost	6,667		6,706
Available for sale, Unrealized Gains Gross	117		102
Available for sale, Unrealized losses Gross	178		204
Available for sale, Fair Value	6,606		6,604
Held to maturity, Amortized Cost	126		134
Held to maturity, Gross Unrealized Gains	3		3
Held to maturity, Gross Unrealized Losses
Held to maturity, Fair Value	129		137
Collateralized Mortgage Obligations [Member]
Available for sale, Amortized Cost	1,996		1,828
Available for sale, Unrealized Gains Gross	55		49
Available for sale, Unrealized losses Gross	17		16
Available for sale, Fair Value	2,034		1,861
Held to maturity, Amortized Cost	4,186		4,452
Held to maturity, Gross Unrealized Gains	359		328
Held to maturity, Gross Unrealized Losses	18		44
Held to maturity, Fair Value	4,527		4,736
Other U.S. Debt Securities [Member]
Available for sale, Amortized Cost	2,620		2,541
Available for sale, Unrealized Gains Gross	114		117
Available for sale, Unrealized losses Gross	17		18
Available for sale, Fair Value	2,717		2,640
U.S. Equity Securities [Member]
Available for sale, Amortized Cost	631		1,115
Available for sale, Unrealized Gains Gross	3
Available for sale, Unrealized losses Gross
Available for sale, Fair Value	634		1,115
Non-U.S. Equity Securities [Member]
Available for sale, Amortized Cost	150		122
Available for sale, Unrealized Gains Gross	3		5
Available for sale, Unrealized losses Gross			1
Available for sale, Fair Value	$ 153		$ 126

[1]	Substantially composed of securities guaranteed by the federal government with respect to the payment of principal and interest.

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Investment Securities (Schedule of Contractual Maturities of Debt Securities) (Details) (USD $) In Millions	Mar. 31, 2011
Available for sale, Under 1 Year	$ 9,112
Available for sale, 1 to 5 Years	24,265
Available for sale, 6 to 10 Years	28,960
Available for sale, Over 10 Years	27,567
Held to maturity, Under 1 Year	1,585
Held to maturity, 1 to 5 Years	4,184
Held to maturity, 6 to 10 Years	870
Held to maturity, Over 10 Years	5,614
Direct Obligations [Member]
Available for sale, Under 1 Year	3,166
Available for sale, 1 to 5 Years	2,287
Available for sale, 6 to 10 Years	1,496
Available for sale, Over 10 Years	508
Mortgage-Backed Securities [Member]
Available for sale, Under 1 Year	12
Available for sale, 1 to 5 Years	1,258
Available for sale, 6 to 10 Years	10,898
Available for sale, Over 10 Years	14,709
Held to maturity, Under 1 Year	6
Held to maturity, 1 to 5 Years	35
Held to maturity, 6 to 10 Years	136
Held to maturity, Over 10 Years	187
Student Loans [Member]
Available for sale, Under 1 Year	124
Available for sale, 1 to 5 Years	3,714
Available for sale, 6 to 10 Years	8,502
Available for sale, Over 10 Years	3,584
Credit Cards [Member]
Available for sale, Under 1 Year	1,113
Available for sale, 1 to 5 Years	6,183
Available for sale, 6 to 10 Years	1,243
Available for sale, Over 10 Years
Sub-Prime [Member]
Available for sale, Under 1 Year	959
Available for sale, 1 to 5 Years	451
Available for sale, 6 to 10 Years	13
Available for sale, Over 10 Years	331
Other Asset-Backed Securities [Member]
Available for sale, Under 1 Year	110
Available for sale, 1 to 5 Years	852
Available for sale, 6 to 10 Years	335
Available for sale, Over 10 Years	300
Asset-Backed Securities [Member]
Available for sale, Under 1 Year	2,306
Available for sale, 1 to 5 Years	11,200
Available for sale, 6 to 10 Years	10,093
Available for sale, Over 10 Years	4,215
Held to maturity, Under 1 Year	7
Held to maturity, 1 to 5 Years
Held to maturity, 6 to 10 Years
Held to maturity, Over 10 Years	46
Non-U.S. Debt Securities [Member]
Available for sale, Under 1 Year	3,077
Available for sale, 1 to 5 Years	4,422
Available for sale, 6 to 10 Years	2,916
Available for sale, Over 10 Years	5,984
Held to maturity, Under 1 Year	1,154
Held to maturity, 1 to 5 Years	2,028
Held to maturity, 6 to 10 Years	326
Held to maturity, Over 10 Years	4,016
State and Political Subdivisions [Member]
Available for sale, Under 1 Year	331
Available for sale, 1 to 5 Years	2,145
Available for sale, 6 to 10 Years	2,558
Available for sale, Over 10 Years	1,572
Held to maturity, Under 1 Year	23
Held to maturity, 1 to 5 Years	102
Held to maturity, 6 to 10 Years
Held to maturity, Over 10 Years	1
Collateralized Mortgage Obligations [Member]
Available for sale, Under 1 Year	72
Available for sale, 1 to 5 Years	1,082
Available for sale, 6 to 10 Years	342
Available for sale, Over 10 Years	538
Held to maturity, Under 1 Year	395
Held to maturity, 1 to 5 Years	2,019
Held to maturity, 6 to 10 Years	408
Held to maturity, Over 10 Years	1,364
Other U.S. Debt Securities [Member]
Available for sale, Under 1 Year	148
Available for sale, 1 to 5 Years	1,871
Available for sale, 6 to 10 Years	657
Available for sale, Over 10 Years	$ 41

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Investment Securities (Critical Estimates Used in Roll Rate Analysis) (Details)	Mar. 31, 2011	Dec. 31, 2010
Sub-Prime [Member]
Prepayment rate minimum	2.00%		2.00%
Prepayment rate maximum	3.00%		3.00%
Cumulative loss estimates	33.00%		33.00%
Loss severity	67.00%	^[1]	67.00%	^[1]
Peak-to-trough housing price decline minimum	36.00%	^[2]	35.00%	^[2]
Peak-to-trough housing price decline maximum	41.00%	^[2]	40.00%	^[2]
Alt-A [Member]
Prepayment rate			7.00%
Prepayment rate minimum	6.00%
Prepayment rate maximum	7.00%
Cumulative loss estimates	22.00%		21.00%
Loss severity	50.00%	^[1]	49.00%	^[1]
Peak-to-trough housing price decline minimum	36.00%	^[2]	35.00%	^[2]
Peak-to-trough housing price decline maximum	41.00%	^[2]	40.00%	^[2]
Non-Agency Prime [Member]
Prepayment rate minimum	7.00%		7.00%
Prepayment rate maximum	9.00%		10.00%
Cumulative loss estimates	13.00%		13.00%
Loss severity	49.00%	^[1]	49.00%	^[1]
Peak-to-trough housing price decline minimum	36.00%	^[2]	35.00%	^[2]
Peak-to-trough housing price decline maximum	41.00%	^[2]	40.00%	^[2]

[1]	Loss severity rates consider the initial loan-to-value ratio, lien position, geography, expected collateral value and other factors.
[2]	Management's expectation of the Case-Shiller National Home Price Index.

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Investment Securities (Schedule of Gross Pre-Tax Unrealized Losses on Investment Securities) (Details) (USD $) In Millions	3 Months Ended	12 Months Ended
Mar. 31, 2011	Dec. 31, 2010
Direct Obligations [Member]
Available for sale, Fair Value Less than 12 Months	$ 1,058
Available for sale, Gross Unrealized Losses Less than 12 Months	1
Available for sale, Fair Value 12 Months or Longer	100	153
Available for sale, Gross Unrealized Losses 12 Months or Longer	1	2
Available for sale, Fair Value Total	1,158	153
Available for sale, Gross Unrealized Losses Total	2	2
Mortgage-Backed Securities [Member]
Available for sale, Fair Value Less than 12 Months	6,519	6,637
Available for sale, Gross Unrealized Losses Less than 12 Months	71	81
Available for sale, Fair Value 12 Months or Longer	426	431
Available for sale, Gross Unrealized Losses 12 Months or Longer	3	2
Available for sale, Fair Value Total	6,945	7,068
Available for sale, Gross Unrealized Losses Total	74	83
Student Loans [Member]
Available for sale, Fair Value Less than 12 Months	1,681	1,980
Available for sale, Gross Unrealized Losses Less than 12 Months	18	25
Available for sale, Fair Value 12 Months or Longer	9,461	8,457
Available for sale, Gross Unrealized Losses 12 Months or Longer	599	627
Available for sale, Fair Value Total	11,142	10,437
Available for sale, Gross Unrealized Losses Total	617	652
Credit Cards [Member]
Available for sale, Fair Value Less than 12 Months	972	1,268
Available for sale, Gross Unrealized Losses Less than 12 Months	4	5
Available for sale, Fair Value 12 Months or Longer	2,063	2,396
Available for sale, Gross Unrealized Losses 12 Months or Longer	14	26
Available for sale, Fair Value Total	3,035	3,664
Available for sale, Gross Unrealized Losses Total	18	31
Sub-Prime [Member]
Available for sale, Fair Value Less than 12 Months
Available for sale, Gross Unrealized Losses Less than 12 Months
Available for sale, Fair Value 12 Months or Longer	1,703	1,768
Available for sale, Gross Unrealized Losses 12 Months or Longer	333	346
Available for sale, Fair Value Total	1,703	1,768
Available for sale, Gross Unrealized Losses Total	333	346
Other Asset-Backed Securities [Member]
Available for sale, Fair Value Less than 12 Months	35	90
Available for sale, Gross Unrealized Losses Less than 12 Months	4	1
Available for sale, Fair Value 12 Months or Longer	453	458
Available for sale, Gross Unrealized Losses 12 Months or Longer	69	93
Available for sale, Fair Value Total	488	548
Available for sale, Gross Unrealized Losses Total	73	94
Total Asset-Backed Securities [Member]
Available for sale, Fair Value Less than 12 Months	2,688	3,338
Available for sale, Gross Unrealized Losses Less than 12 Months	26	31
Available for sale, Fair Value 12 Months or Longer	13,680	13,079
Available for sale, Gross Unrealized Losses 12 Months or Longer	1,015	1,092
Available for sale, Fair Value Total	16,368	16,417
Available for sale, Gross Unrealized Losses Total	1,041	1,123
Held to maturity, Fair Value 12 Months or Longer	47	53
Held to maturity, Gross Unrealized Losses 12 Months or Longer	5	5
Held to maturity, Fair Value Total	47	53
Held to maturity, Gross Unrealized Losses Total	5	5
Non-U.S. Debt Securities [Member]
Available for sale, Fair Value Less than 12 Months	3,949	4,436
Available for sale, Gross Unrealized Losses Less than 12 Months	26	26
Available for sale, Fair Value 12 Months or Longer	1,234	1,089
Available for sale, Gross Unrealized Losses 12 Months or Longer	71	101
Available for sale, Fair Value Total	5,183	5,525
Available for sale, Gross Unrealized Losses Total	97	127
Held to maturity, Fair Value Less than 12 Months	1,525	1,667
Held to maturity, Gross Unrealized Losses Less than 12 Months	65	74
Held to maturity, Fair Value 12 Months or Longer	944	930
Held to maturity, Gross Unrealized Losses 12 Months or Longer	85	91
Held to maturity, Fair Value Total	2,469	2,597
Held to maturity, Gross Unrealized Losses Total	150	165
State and Political Subdivisions [Member]
Available for sale, Fair Value Less than 12 Months	837	1,097
Available for sale, Gross Unrealized Losses Less than 12 Months	17	19
Available for sale, Fair Value 12 Months or Longer	1,791	1,967
Available for sale, Gross Unrealized Losses 12 Months or Longer	161	185
Available for sale, Fair Value Total	2,628	3,064
Available for sale, Gross Unrealized Losses Total	178	204
Collateralized Mortgage Obligations [Member]
Available for sale, Fair Value Less than 12 Months	422	494
Available for sale, Gross Unrealized Losses Less than 12 Months	6	5
Available for sale, Fair Value 12 Months or Longer	33	109
Available for sale, Gross Unrealized Losses 12 Months or Longer	11	11
Available for sale, Fair Value Total	455	603
Available for sale, Gross Unrealized Losses Total	17	16
Held to maturity, Fair Value Less than 12 Months	133	125
Held to maturity, Gross Unrealized Losses Less than 12 Months	3	3
Held to maturity, Fair Value 12 Months or Longer	300	575
Held to maturity, Gross Unrealized Losses 12 Months or Longer	15	41
Held to maturity, Fair Value Total	433	700
Held to maturity, Gross Unrealized Losses Total	18	44
Other U.S. Debt Securities [Member]
Available for sale, Fair Value Less than 12 Months	474	360
Available for sale, Gross Unrealized Losses Less than 12 Months	9	8
Available for sale, Fair Value 12 Months or Longer	63	61
Available for sale, Gross Unrealized Losses 12 Months or Longer	8	10
Available for sale, Fair Value Total	537	421
Available for sale, Gross Unrealized Losses Total	17	18
U.S. Equity Securities [Member]
Available for sale, Fair Value Less than 12 Months		9
Available for sale, Gross Unrealized Losses Less than 12 Months		1
Available for sale, Fair Value 12 Months or Longer
Available for sale, Gross Unrealized Losses 12 Months or Longer
Available for sale, Fair Value Total		9
Available for sale, Gross Unrealized Losses Total		1
Total AFS Securities [Member]
Available for sale, Fair Value Less than 12 Months	15,947	16,371
Available for sale, Gross Unrealized Losses Less than 12 Months	156	171
Available for sale, Fair Value 12 Months or Longer	17,327	16,889
Available for sale, Gross Unrealized Losses 12 Months or Longer	1,270	1,403
Available for sale, Fair Value Total	33,274	33,260
Available for sale, Gross Unrealized Losses Total	1,426	1,574
Total HTM Securities [Member]
Held to maturity, Fair Value Less than 12 Months	1,658	1,792
Held to maturity, Gross Unrealized Losses Less than 12 Months	68	77
Held to maturity, Fair Value 12 Months or Longer	1,291	1,558
Held to maturity, Gross Unrealized Losses 12 Months or Longer	105	137
Held to maturity, Fair Value Total	2,949	3,350
Held to maturity, Gross Unrealized Losses Total	$ 173	$ 214

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Investment Securities (Gains and Losses Related to Investment Securities) (Details) (USD $) In Millions	3 Months Ended
Mar. 31, 2011	Mar. 31, 2010
Investment Securities
Gross realized gains from sales of available-for-sale securities	$ 7	$ 198
Gross realized losses from sales of available-for-sale securities	(3)	(6)
Losses from other-than-temporary impairment	(35)	(240)
Losses not related to credit	24	143
Gains (Losses) related to investment securities, net	(7)	95
Impairment associated with expected credit losses	(5)	(89)
Impairment associated with adverse changes in timing of expected future cash flows	(6)	(8)
Net impairment losses	$ (11)	$ (97)

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Investment Securities (Schedule of Credit-Related Loss Activity Recognized in Earnings) (Details) (USD $) In Millions	3 Months Ended
Mar. 31, 2011
Investment Securities
Balance at December 31, 2010	$ 63
Plus expected credit-related losses for which other-than-temporary impairment was not previously recognized	3
Plus expected credit-related losses for which other-than-temporary impairment was previously recognized	8
Balance at March 31, 2011	$ 74

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Loans and Leases (Narrative) (Details) (USD $)	3 Months Ended	12 Months Ended
Mar. 31, 2011	Mar. 31, 2010	Dec. 31, 2010
Aggregate short-duration advances	$ 3,640,000,000		$ 2,630,000,000
Aggregate of debt restructurings	302,000,000		307,000,000
Impairment loss on restructuring of loans	0
Loans or leases contractually past-due days	90
Allowance for loan losses, charge-offs	19,000,000	3,000,000
Property Development - Acquired Credit-Impaired [Member]
Recorded investment of property	42,000,000
Property carried at cost	22,000,000
Allowance for loan losses, charge-offs	$ 19,000,000

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Loans and Leases (Net Loans) (Details) (USD $) In Millions	Mar. 31, 2011	Dec. 31, 2010	Mar. 31, 2010	Dec. 31, 2009
Total loans and leases	$ 12,726	$ 11,957
Allowance for loan losses	(80)	(100)	(91)	(79)
Loans and leases, net of allowance for loan losses	12,646	11,857
Institutional [Member]
Total loans and leases	12,030	11,193
Allowance for loan losses	(31)	(31)
U.S. [Member]
Investment funds	6,158	5,316
Commercial and financial	703	540
Commercial real estate	696	764
Purchased receivables	631	728
Lease financing	415	417
Non-U.S. [Member]
Investment funds	1,498	1,478
Commercial and financial	213	190
Purchased receivables	1,351	1,471
Lease financing	$ 1,061	$ 1,053

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Loans and Leases (Recorded Investment in Each Class of Total Loans and Leases by Credit Quality Indicator) (Details) (USD $) In Millions	Mar. 31, 2011	Dec. 31, 2010
Total Loans and Leases	$ 12,726	$ 11,957
Investment Grade [Member]
Total Loans and Leases	11,789	10,786
Investment Grade [Member] \| Institutional [Member] \| Investment Funds [Member]
Total Loans and Leases	7,628	6,674
Investment Grade [Member] \| Institutional [Member] \| Commercial and Financial [Member]
Total Loans and Leases	821	579
Investment Grade [Member] \| Institutional [Member] \| Purchased Receivables [Member]
Total Loans and Leases	1,982	2,199
Investment Grade [Member] \| Institutional [Member] \| Lease Financing [Member]
Total Loans and Leases	1,304	1,279
Investment Grade [Member] \| Property Development [Member] \| Commercial Real Estate [Member]
Total Loans and Leases	2	3
Investment Grade [Member] \| Other - Acquired Credit-Impaired [Member] \| Commercial Real Estate [Member]
Total Loans and Leases	3	3
Investment Grade [Member] \| Other [Member] \| Commercial Real Estate [Member]
Total Loans and Leases	49	49
Speculative [Member]
Total Loans and Leases	765	929
Speculative [Member] \| Institutional [Member] \| Investment Funds [Member]
Total Loans and Leases	28	120
Speculative [Member] \| Institutional [Member] \| Commercial and Financial [Member]
Total Loans and Leases	45	101
Speculative [Member] \| Institutional [Member] \| Lease Financing [Member]
Total Loans and Leases	172	191
Speculative [Member] \| Property Development [Member] \| Commercial Real Estate [Member]
Total Loans and Leases	365	362
Speculative [Member] \| Other - Acquired Credit-Impaired [Member] \| Commercial Real Estate [Member]
Total Loans and Leases	47	47
Speculative [Member] \| Other [Member] \| Commercial Real Estate [Member]
Total Loans and Leases	108	108
Substandard [Member]
Total Loans and Leases	50	50
Substandard [Member] \| Institutional [Member] \| Commercial and Financial [Member]
Total Loans and Leases	50	50
Doubtful [Member]
Total Loans and Leases	122	192
Doubtful [Member] \| Property Development [Member] \| Commercial Real Estate [Member]
Total Loans and Leases	82	86
Doubtful [Member] \| Property Development - Acquired Credit-Impaired [Member] \| Commercial Real Estate [Member]
Total Loans and Leases		42
Doubtful [Member] \| Other - Acquired Credit-Impaired [Member] \| Commercial Real Estate [Member]
Total Loans and Leases	40	49
Doubtful [Member] \| Other [Member] \| Commercial Real Estate [Member]
Total Loans and Leases		15
Institutional [Member] \| Investment Funds [Member]
Total Loans and Leases	7,656	6,794
Institutional [Member] \| Commercial and Financial [Member]
Total Loans and Leases	916	730
Institutional [Member] \| Purchased Receivables [Member]
Total Loans and Leases	1,982	2,199
Institutional [Member] \| Lease Financing [Member]
Total Loans and Leases	1,476	1,470
Property Development [Member] \| Commercial Real Estate [Member]
Total Loans and Leases	449	451
Property Development - Acquired Credit-Impaired [Member] \| Commercial Real Estate [Member]
Total Loans and Leases		42
Other - Acquired Credit-Impaired [Member] \| Commercial Real Estate [Member]
Total Loans and Leases	90	99
Other [Member] \| Commercial Real Estate [Member]
Total Loans and Leases	157	172
Institutional [Member]
Total Loans and Leases	12,030	11,193
Commercial Real Estate [Member]
Total Loans and Leases	$ 696	$ 764

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Loans and Leases (Impaired Loans) (Details) (USD $) In Millions	3 Months Ended	12 Months Ended
Mar. 31, 2011	Dec. 31, 2010
Additional allowance for loan losses	$ 31	$ 31
With No Related Allowance Recorded [Member] \| CRE - Property Development [Member]
Recorded Investment	204	209
Unpaid Principal Balance	235	240
Average Recorded Investment	205
Interest Revenue Recognized	4
With No Related Allowance Recorded [Member] \| CRE - Property Development - Acquired Credit-Impaired [Member]
Unpaid Principal Balance	34	34
Average Recorded Investment
With No Related Allowance Recorded [Member] \| CRE - Other - Acquired Credit-Impaired [Member]
Recorded Investment	15	16
Unpaid Principal Balance	48	47
Average Recorded Investment	16
With No Related Allowance Recorded [Member] \| CRE - Other [Member]
Recorded Investment	12	27
Unpaid Principal Balance	14	29
Average Recorded Investment	14
Interest Revenue Recognized	1
With an Allowance Recorded [Member] \| CRE - Property Development [Member]
Recorded Investment	80	79
Unpaid Principal Balance	116	113
Related Allowance	24	24	^[1]
Average Recorded Investment	79
With an Allowance Recorded [Member] \| CRE - Property Development - Acquired Credit-Impaired [Member]
Recorded Investment		42
Unpaid Principal Balance		47
Related Allowance		19	^[1]
Average Recorded Investment	19
With an Allowance Recorded [Member] \| CRE - Other - Acquired Credit-Impaired [Member]
Recorded Investment	75	83
Unpaid Principal Balance	84	100
Related Allowance	25	26	^[1]
Average Recorded Investment	76
With an Allowance Recorded [Member] \| CRE - Other [Member]
Recorded Investment	7	7
Unpaid Principal Balance	9	9
Average Recorded Investment	7
Commercial Real Estate [Member]
Recorded Investment	393	463
Unpaid Principal Balance	540	619
Related Allowance	49	69	^[1]
Average Recorded Investment	416
Interest Revenue Recognized	$ 5

[1]	(1) As of both March 31, 2011 and December 31, 2010, there was an additional allowance for loan losses of $31 million associated with loans and leases that were not impaired.

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Loans and Leases (Financing Receivables on Non-Accrual Status) (Details) (Commercial Real Estate [Member], USD $) In Millions	Mar. 31, 2011	Dec. 31, 2010
Loans and Leases Receivable, Impaired, Nonperforming, Non-accrual of Interest	$ 93	$ 158
Property Development [Member]
Loans and Leases Receivable, Impaired, Nonperforming, Non-accrual of Interest	80	79
Property Development - Acquired Credit-Impaired [Member]
Loans and Leases Receivable, Impaired, Nonperforming, Non-accrual of Interest		42
Other - Acquired Credit-Impaired [Member]
Loans and Leases Receivable, Impaired, Nonperforming, Non-accrual of Interest	13	22
Other [Member]
Loans and Leases Receivable, Impaired, Nonperforming, Non-accrual of Interest		$ 15

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Loans and Leases (Recorded Investment in Loans and Leases and the Related Allowance for Loan Losses (Details) (USD $) In Millions	3 Months Ended	12 Months Ended
Mar. 31, 2011	Dec. 31, 2010	Mar. 31, 2010	Dec. 31, 2009
Individually evaluated for impairment	$ 24	$ 24
Collectively evaluated for impairment	11,917	11,081
Loans acquired with deteriorated credit quality	90	141
Ending balance	12,726	11,957
Closing balance	80	100	91	79
Institutional [Member] \| Loans and Leases [Member]
Individually evaluated for impairment	113	112
Loans and Leases [Member]
Individually evaluated for impairment	719	735
Loans and Leases [Member] \| Commercial Real Estate [Member]
Individually evaluated for impairment	606	623
Institutional [Member] \| Allowance for Credit Losses [Member]
Collectively evaluated for impairment	31	31
Allowance for Credit Losses [Member]
Collectively evaluated for impairment	31	31
Loans acquired with deteriorated credit quality	25	45
Allowance for Credit Losses [Member] \| Commercial Real Estate [Member]
Loans acquired with deteriorated credit quality	25	45
Institutional [Member]
Collectively evaluated for impairment	11,917	11,081
Ending balance	12,030	11,193
Closing balance	31	31
Commercial Real Estate [Member]
Individually evaluated for impairment	24	24
Loans acquired with deteriorated credit quality	90	141
Ending balance	696	764
Closing balance	$ 49	$ 69

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Loans and Leases (Schedule of Activity in the Allowance for Loan Losses) (Details) (USD $) In Millions	3 Months Ended
Mar. 31, 2011	Mar. 31, 2010
Beginning balance	$ 100	$ 79
Charge-offs	(19)	(3)
Provision for loan losses	(1)	15
Closing balance	80	91
Institutional [Member]
Beginning balance	31
Charge-offs
Provision for loan losses
Closing balance	31
Commercial Real Estate [Member]
Beginning balance	69
Charge-offs	(19)
Provision for loan losses	(1)
Closing balance	$ 49

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Goodwill and Other Intangible Assets (Changes in the Carrying Amount of Goodwill) (Details) (USD $) In Millions	3 Months Ended
Mar. 31, 2011	Mar. 31, 2010
Beginning balance	$ 5,597	$ 4,550
Acquisition of BIAM	31
Foreign currency translation, net	92	(35)
Ending balance	5,720	4,515
Investment Servicing [Member]
Beginning balance	5,591	4,544
Acquisition of BIAM
Foreign currency translation, net	92	(35)
Ending balance	5,683	4,509
Investment Management [Member]
Beginning balance	6	6
Acquisition of BIAM	31
Foreign currency translation, net
Ending balance	$ 37	$ 6

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Goodwill and Other Intangible Assets (Changes in the Carrying Amount of Other Intangible Assets) (Details) (USD $) In Millions	3 Months Ended
Mar. 31, 2011	Mar. 31, 2010
Beginning balance	$ 2,593	$ 1,810
Acquisition of BIAM	27
Amortization	(49)	(34)
Foreign currency translation, net	71	(16)
Other	2	8
Ending balance	2,644	1,768
Investment Servicing [Member]
Beginning balance	2,559	1,760
Acquisition of BIAM
Amortization	(46)	(32)
Foreign currency translation, net	70	(14)
Other
Ending balance	2,583	1,714
Investment Management [Member]
Beginning balance	34	50
Acquisition of BIAM	27
Amortization	(3)	(2)
Foreign currency translation, net	1	(2)
Other	2	8
Ending balance	$ 61	$ 54

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Goodwill and Other Intangible Assets (Gross Carrying Amount and Accumulated Amortization of Other Intangible Assets) (Details) (USD $) In Millions	Mar. 31, 2011	Dec. 31, 2010	Mar. 31, 2010	Dec. 31, 2009
Gross Carrying Amount	$ 3,371
Accumulated Amortization	(727)
Net Carrying Amount	2,644	2,593	1,768	1,810
Customer Relationships [Member]
Gross Carrying Amount	2,428
Accumulated Amortization	(565)
Net Carrying Amount	1,863	1,821
Core Deposits [Member]
Gross Carrying Amount	724
Accumulated Amortization	(92)
Net Carrying Amount	632	627
Other Intangible Asset [Member]
Gross Carrying Amount	219
Accumulated Amortization	(70)
Net Carrying Amount	$ 149	$ 145

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Other Assets (Components of Other Assets) (Details) (USD $) In Millions	Mar. 31, 2011	Dec. 31, 2010
Income taxes receivable	$ 1,850	$ 1,733
Total	17,441	13,800
Reported Amount [Member] \| Other Assets [Member]
Unrealized gains on derivative financial instruments	6,365	5,255
Collateral deposits	5,232	3,251
Deferred tax assets, net of valuation allowance	1,725	1,786
Investments in joint ventures and other unconsolidated entities	966	927
Income taxes receivable	641	530
Accounts receivable	1,047	403
Prepaid expenses	374	382
Other	$ 1,091	$ 1,266

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Long-Term Debt (Narrative) (Details) (USD $)	Mar. 31, 2011	Mar. 31, 2011 Junior Subordinated Debentures [Member]	Mar. 31, 2011 4.956% Junior Subordinated Debenture Due 2018 [Member]	Feb. 28, 2011 4.956% Junior Subordinated Debenture Due 2018 [Member]	Mar. 31, 2011 8.25% Fixed-to-Floating-Rate Subordinated Notes Due to State Street Capital Trust III in 2042 [Member]	Mar. 31, 2011 2.875% Senior Notes [Member]	Mar. 31, 2011 4.375% Senior Notes [Member]	Mar. 31, 2011 Floating-Rate Senior Notes [Member]	Mar. 31, 2011 Series A Preferred Stock [Member]	Mar. 31, 2011 State Street Capital Trust III [Member ]
Senior notes issued	$ 2,000,000,000					$ 1,000,000,000	$ 750,000,000	$ 250,000,000
Notes issued by Parent company and non-banking subsidiaries, maturity date			Mar 15, 2018			Mar 7, 2016	Mar 7, 2021	Mar 7, 2014
Non-cumulative perpetual preferred stock	500,000,000								500,000,000
Preferred stock liquidation preference per share									100,000
Issued junior subordinated debentures				$ 500,000,000
Subordinated borrowing interest rate		4.96%	4.96%		8.25%					6.00%
Original junior subordinated debentures interest rate		6.00%

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Commitments and Contingencies (Narrative) (Details)	3 Months Ended	12 Months Ended	84 Months Ended
Mar. 31, 2011 USD ( $)	Sep. 30, 2010 USD ( $)	Sep. 30, 2007	Dec. 31, 2007	Dec. 31, 2007 USD ( $)	Mar. 31, 2011 EUR ( €)	Dec. 31, 2010 USD ( $)	Aug. 31, 2009 USD ( $)	Sep. 15, 2008 USD ( $)	Jun. 30, 2007 USD ( $)
Commitments and Contingencies
Percent of fair market value that must be maintained in collateral	100.00%
Net assets of registered sub-prime funds										$ 300,000,000
Average decline in net asset value per share			7.23%
Actual damages asserted by attorney general					56,000,000
Litigation reserve							75,000,000
Settlement with State of Washington		12,000,000
Number of years of relationships with State of Washington				ten
Net assets of a fund held by Lehman									312,000,000
Number of customer not entered into settlement agreements									5
Settlements with Dutch customers						42,000,000
Investment in funds by customers not settled									170,000,000
Unrecognized tax benefits	271,000,000						419,000,000
Decrease in unrecognized tax benefit over the next 12 months	185,000,000
Notional amount of contingencies accounted for as derivative financial instruments	44,920,000,000						46,760,000,000
Asserted damages by two participants in the agency securities lending program								120,000,000
The difference between the amortized cost and market value of the in-kind distribution		49,000,000
Cash contribution to the cash collateral pools and liquidity trusts							$ 330,000,000

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Commitments and Contingencies (Schedule of Repurchase Agreements) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
Mar. 31, 2011	Dec. 31, 2010
Commitments and Contingencies
Aggregate fair value of indemnified securities financing	$ 350,286		$ 334,235
Aggregate fair value of cash and securities held as collateral for indemnified securities financing	360,922		343,410
Aggregate fair value of collateral for indemnified securities financing invested in indemnified repurchase agreements	94,856	^[1]	89,069	^[1]
Aggregate fair value of cash and securities held as collateral for indemnified repurchase agreements	$ 99,434		$ 93,294
Percent of fair market value that must be maintained in collateral	100.00%

[1]	We require the counterparty to the indemnified repurchase agreement to provide collateral in an amount equal to or in excess of 100% of the amount of the repurchase obligation.

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Variable Interest Entities (Narrative) (Details) (USD $)	3 Months Ended	12 Months Ended
Mar. 31, 2011	Dec. 31, 2010
Variable Interest Entities
Investment securities related to state and political subdivisions	$ 2,790,000,000	$ 2,850,000,000
Variable interest entity, other short-term borrowings	2,450,000,000	2,500,000,000
Weighted-average life of trusts, years	7.6	7.7
Total standby bond purchase agreement committed to trusts	2,490,000,000
Asset-backed securities, fair value	6,030,000,000	6,110,000,000
Purchase receivable loans	1,980,000,000	2,200,000,000
Commercial paper		1,920,000,000
Aggregate notional value of CDOs	1,000,000,000	1,000,000,000
Carrying value of the underlying collateral	$ 308,000,000	$ 323,000,000

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Shareholders' Equity (Narrative) (Details) (USD $) In Millions, except Share data, unless otherwise specified	3 Months Ended	12 Months Ended
Mar. 31, 2011	Mar. 31, 2010	Dec. 31, 2010	Dec. 31, 2009
Non-cumulative perpetual preferred stock, shares	5,001		0
Non-cumulative perpetual preferred stock	$ 500
Series A, liquidation preference per share	$ 100,000
Common stock purchase program, authorized amount	675
Common shares available for purchase			13,250,000
Realized (losses) gains from sales of investment securities	4	192
Unrealized pre-tax losses included in other comprehensive income			47	103
Deferred taxes related to unrealized pre-tax gains			$ 19	$ 41
State Street Capital Trust III [Member ]
Subordinated borrowing, interest rate	6.00%
Junior subordinated debentures, due date	2042

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Shareholders' Equity (Schedule of Accumulated Other Comprehensive Loss) (Details) (USD $) In Millions	Mar. 31, 2011	Dec. 31, 2010
Shareholders' Equity
Foreign currency translation	$ 576	$ 216
Net unrealized loss on hedges of net investments in non-U.S. subsidiaries	(14)	(14)
Net unrealized loss on available-for-sale securities portfolio	(49)	(90)
Net unrealized loss related to reclassified available-for-sale securities	(293)	(317)
Net unrealized loss on available-for-sale securities	(342)	(407)
Net unrealized loss on fair value hedges of available-for-sale securities	(120)	(135)
Expected losses from other-than-temporary impairment on available-for-sale securities related to factors other than credit	(15)	(17)
Expected losses from other-than-temporary impairment on held-to-maturity securities related to factors other than credit	(108)	(111)
Minimum pension liability	(203)	(210)
Net unrealized loss on cash flow hedges	(12)	(11)
Total	$ (238)	$ (689)

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Shareholders' Equity (Total Comprehensive Income) (Details) (USD $) In Millions	3 Months Ended
Mar. 31, 2011	Mar. 31, 2010
Shareholders' Equity
Net income	$ 471	$ 495
Other comprehensive income	451	380
Total comprehensive income	$ 922	$ 875

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Fair Value (Schedule of Fair Value Measurements on a Recurring Basis) (Details) (USD $) In Millions	Mar. 31, 2011	Dec. 31, 2010
Quoted Market Prices in Active Markets (Level 1) [Member]
Trading account assets	$ 1,688		$ 357
Direct obligations	6,429		6,529
Mortgage-backed securities
Student loans
Credit cards
Sub-prime
Other
Total asset-backed securities
Non-U.S. debt securities
State and political subdivisions
Collateralized mortgage obligations
Other U.S. debt securities
U.S. equity securities
Non-U.S. equity securities	8		7
Total investment securities available for sale	6,437		6,536
Other assets	137		168
Total assets carried at fair value	8,262		7,061
Accrued expenses and other liabilities	2,130		723
Total liabilities carried at fair value	2,130		723
Pricing Methods with Significant Observable Market Inputs (Level 2) [Member]
Trading account assets	144		122
Direct obligations	1,028		1,048
Mortgage-backed securities	25,979		22,967
Student loans	14,616		13,182
Credit cards	8,480		7,423
Sub-prime	1,754		1,818
Other	509		568
Total asset-backed securities	25,359		22,991
Non-U.S. debt securities	13,410		10,905
State and political subdivisions	6,555		6,554
Collateralized mortgage obligations	1,806		1,502
Other U.S. debt securities	2,714		2,637
U.S. equity securities	634		1,115
Non-U.S. equity securities	145		119
Total investment securities available for sale	77,630		69,838
Other assets	9,042		7,971
Total assets carried at fair value	86,816		77,931
Accrued expenses and other liabilities	9,004		8,557
Total liabilities carried at fair value	9,004		8,557
Pricing Methods with Significant Unobservable Market Inputs (Level 3) [Member]
Mortgage-backed securities	898		673
Student loans	1,308		1,234
Credit cards	59		28
Other	1,088		1,020
Total asset-backed securities	2,455		2,282
Non-U.S. debt securities	2,989		2,140
State and political subdivisions	51		50
Collateralized mortgage obligations	228		359
Other U.S. debt securities	3		3
Total investment securities available for sale	6,624		5,507
Other assets	235		254
Total assets carried at fair value	6,859		5,761
Accrued expenses and other liabilities	241		269
Total liabilities carried at fair value	241		269
Impact of Netting [Member]
Other assets	(2,912)	^[1]	(2,970)	^[1]
Total assets carried at fair value	(2,912)	^[1]	(2,970)	^[1]
Accrued expenses and other liabilities	(2,912)	^[1]	(2,970)	^[1]
Total liabilities carried at fair value	(2,912)	^[1]	(2,970)	^[1]
Total Net Carrying Value in Consolidated Statement of Condition [Member]
Trading account assets	1,832		479
Direct obligations	7,457		7,577
Mortgage-backed securities	26,877		23,640
Student loans	15,924		14,416
Credit cards	8,539		7,451
Sub-prime	1,754		1,818
Other	1,597		1,588
Total asset-backed securities	27,814		25,273
Non-U.S. debt securities	16,399		13,045
State and political subdivisions	6,606		6,604
Collateralized mortgage obligations	2,034		1,861
Other U.S. debt securities	2,717		2,640
U.S. equity securities	634		1,115
Non-U.S. equity securities	153		126
Total investment securities available for sale	90,691		81,881
Other assets	6,502		5,423
Total assets carried at fair value	99,025		87,783
Accrued expenses and other liabilities	8,463		6,579
Total liabilities carried at fair value	$ 8,463		$ 6,579

[1]	Represents counterparty netting against level 2 financial assets and liabilities, where a legally enforceable master netting agreement exists between State Street and the counterparty.

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Fair Value (Fair Value Measurements Using Significant Unobservable Inputs) (Details) (USD $) In Millions	3 Months Ended
Mar. 31, 2011	Mar. 31, 2010
Mortgage-Backed Securities [Member]
Fair value, beginning balance, Assets	$ 673	$ 58
Transfers into Level 3, Assets
Transfers out of Level 3, Assets	(403)
Recorded in Revenue, Assets
Recorded in Other Comprehensive Income, Assets	1
Purchases, Assets	636
Settlements, Assets	(9)
Purchases, Issuances and Settlements, Net, Assets		167
Fair value, ending balance, Assets	898	225
Change in Unrealized Gains (Losses) Related to Financial Instruments
Student Loans [Member]
Fair value, beginning balance, Assets	1,234	3,175
Transfers into Level 3, Assets
Transfers into and/or out of Level 3, Assets		(164)
Transfers out of Level 3, Assets	(33)
Recorded in Revenue, Assets	2	3
Recorded in Other Comprehensive Income, Assets	1	71
Purchases, Assets	121
Settlements, Assets	(17)
Purchases, Issuances and Settlements, Net, Assets		28
Fair value, ending balance, Assets	1,308	3,113
Change in Unrealized Gains (Losses) Related to Financial Instruments
Credit Cards [Member]
Fair value, beginning balance, Assets	28	327
Transfers into Level 3, Assets
Transfers into and/or out of Level 3, Assets		(274)
Recorded in Revenue, Assets	1	14
Recorded in Other Comprehensive Income, Assets	(1)	(14)
Purchases, Assets	31
Purchases, Issuances and Settlements, Net, Assets		(28)
Fair value, ending balance, Assets	59	25
Change in Unrealized Gains (Losses) Related to Financial Instruments
Sub-Prime [Member]
Fair value, beginning balance, Assets		3
Recorded in Revenue, Assets
Fair value, ending balance, Assets		3
Change in Unrealized Gains (Losses) Related to Financial Instruments
Other Asset-Backed Securities [Member]
Fair value, beginning balance, Assets	1,020	1,884
Transfers into Level 3, Assets
Transfers into and/or out of Level 3, Assets		(87)
Recorded in Revenue, Assets	6	27
Recorded in Other Comprehensive Income, Assets	22	121
Purchases, Assets	98
Settlements, Assets	(58)
Purchases, Issuances and Settlements, Net, Assets		(87)
Fair value, ending balance, Assets	1,088	1,858
Change in Unrealized Gains (Losses) Related to Financial Instruments
Total Asset-Backed Securities [Member]
Fair value, beginning balance, Assets	2,282	5,389
Transfers into Level 3, Assets
Transfers into and/or out of Level 3, Assets		(525)
Transfers out of Level 3, Assets	(33)
Recorded in Revenue, Assets	9	44
Recorded in Other Comprehensive Income, Assets	22	178
Purchases, Assets	250
Settlements, Assets	(75)
Purchases, Issuances and Settlements, Net, Assets		(87)
Fair value, ending balance, Assets	2,455	4,999
Change in Unrealized Gains (Losses) Related to Financial Instruments
Non-U.S. Debt Securities [Member]
Fair value, beginning balance, Assets	2,140	1,777
Transfers into Level 3, Assets
Transfers into and/or out of Level 3, Assets		(99)
Transfers out of Level 3, Assets	(258)
Recorded in Revenue, Assets	2	48
Recorded in Other Comprehensive Income, Assets	34	52
Purchases, Assets	1,141
Settlements, Assets	(70)
Purchases, Issuances and Settlements, Net, Assets		103
Fair value, ending balance, Assets	2,989	1,881
Change in Unrealized Gains (Losses) Related to Financial Instruments
State and Political Subdivisions [Member]
Fair value, beginning balance, Assets	50	2
Transfers into Level 3, Assets
Transfers into and/or out of Level 3, Assets		(2)
Recorded in Revenue, Assets
Recorded in Other Comprehensive Income, Assets	1
Fair value, ending balance, Assets	51
Change in Unrealized Gains (Losses) Related to Financial Instruments
Collateralized Mortgage Obligations [Member]
Fair value, beginning balance, Assets	359	199
Transfers into Level 3, Assets
Transfers out of Level 3, Assets	(132)
Recorded in Revenue, Assets	133	(209)
Recorded in Other Comprehensive Income, Assets	(2)	7
Purchases, Assets	23
Settlements, Assets	(153)
Purchases, Issuances and Settlements, Net, Assets		198
Fair value, ending balance, Assets	228	195
Change in Unrealized Gains (Losses) Related to Financial Instruments
Other U.S. Debt Securities [Member]
Fair value, beginning balance, Assets	3	3
Transfers into Level 3, Assets
Recorded in Revenue, Assets
Fair value, ending balance, Assets	3	3
Change in Unrealized Gains (Losses) Related to Financial Instruments
Total Investment Securities Available for Sale [Member]
Fair value, beginning balance, Assets	5,507	7,428
Transfers into Level 3, Assets
Transfers into and/or out of Level 3, Assets		(626)
Transfers out of Level 3, Assets	(826)
Recorded in Revenue, Assets	144	(117)
Recorded in Other Comprehensive Income, Assets	56	237
Purchases, Assets	2,050
Settlements, Assets	(307)
Purchases, Issuances and Settlements, Net, Assets		381
Fair value, ending balance, Assets	6,624	7,303
Change in Unrealized Gains (Losses) Related to Financial Instruments
Loans and Leases [Member]
Transfers into and/or out of Level 3, Assets		945
Recorded in Revenue, Assets		(6)
Purchases, Issuances and Settlements, Net, Assets		(23)
Fair value, ending balance, Assets		916
Change in Unrealized Gains (Losses) Related to Financial Instruments
Other Assets [Member]
Fair value, beginning balance, Assets	254	128
Transfers into Level 3, Assets	1
Recorded in Revenue, Assets	(87)	(47)
Purchases, Assets	125
Settlements, Assets	(58)
Purchases, Issuances and Settlements, Net, Assets		128
Fair value, ending balance, Assets	235	209
Change in Unrealized Gains (Losses) Related to Financial Instruments	(46)	(39)
Total Assets Carried at Fair Value [Member]
Fair value, beginning balance, Assets	5,761	7,556
Transfers into Level 3, Assets	1
Transfers into and/or out of Level 3, Assets		319
Transfers out of Level 3, Assets	(826)
Recorded in Revenue, Assets	57	(170)
Recorded in Other Comprehensive Income, Assets	56	237
Purchases, Assets	2,175
Settlements, Assets	(365)
Purchases, Issuances and Settlements, Net, Assets		486
Fair value, ending balance, Assets	6,859	8,428
Change in Unrealized Gains (Losses) Related to Financial Instruments	(46)	(39)
Other Short-Term Borrowings [Member]
Transfers into and/or out of Level 3, Liabilities		712
Recorded in Revenue, Liabilities		(11)
Recorded in Other Comprehensive Income, Liabilities
Purchases, Issuances and Settlements, Net, Liabilities		(27)
Fair Value, ending balance, Liabilities		674
Accrued Expenses and Other Liabilities [Member]
Fair Value, beginning balance, Liabilities	269	147
Transfers into Level 3, Liabilities	1
Transfers out of Level 3, Liabilities
Recorded in Revenue, Liabilities	(78)	(55)
Recorded in Other Comprehensive Income, Liabilities
Purchases, Liabilities
Sales, Liabilities	117
Settlements, Liabilities	(68)
Purchases, Issuances and Settlements, Net, Liabilities		120
Fair Value, ending balance, Liabilities	241	212
Change in Unrealized Gains (Losses) Related to Financial Instruments	(47)	(42)
Total Liabilities Carried at Fair Value [Member]
Fair Value, beginning balance, Liabilities	269	147
Transfers into Level 3, Liabilities	1
Transfers into and/or out of Level 3, Liabilities		712
Transfers out of Level 3, Liabilities
Recorded in Revenue, Liabilities	(78)	(66)
Recorded in Other Comprehensive Income, Liabilities
Purchases, Liabilities
Sales, Liabilities	117
Settlements, Liabilities	(68)
Purchases, Issuances and Settlements, Net, Liabilities		93
Fair Value, ending balance, Liabilities	241	886
Change in Unrealized Gains (Losses) Related to Financial Instruments	$ (47)	$ (42)

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Fair Value (Level 3 Total Realized and Unrealized Gains and Losses Recorded in Revenue) (Details) (USD $) In Millions	3 Months Ended
Mar. 31, 2011	Mar. 31, 2010
Trading Services [Member]
Total Realized and Unrealized Gains (Losses) Recorded in Revenue	$ (9)	$ 8
Change in Unrealized Gains (Losses) Related to Financial Instruments Held	1	3
Processing Fees and Other [Member]
Total Realized and Unrealized Gains (Losses) Recorded in Revenue		5
Change in Unrealized Gains (Losses) Related to Financial Instruments Held
Total Fee Revenue [Member]
Total Realized and Unrealized Gains (Losses) Recorded in Revenue	(9)	13
Change in Unrealized Gains (Losses) Related to Financial Instruments Held	1	3
Net Interest Revenue [Member]
Total Realized and Unrealized Gains (Losses) Recorded in Revenue	144	(117)
Change in Unrealized Gains (Losses) Related to Financial Instruments Held
Total Revenue [Member]
Total Realized and Unrealized Gains (Losses) Recorded in Revenue	135	(104)
Change in Unrealized Gains (Losses) Related to Financial Instruments Held	$ 1	$ 3

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Fair Value (Reported Amounts and Estimated Fair Values for Financial Instruments) (Details) (USD $) In Millions	Mar. 31, 2011	Dec. 31, 2010
Fair Value
Investment securities held to maturity, fair value	$ 12,655	$ 12,576
Investment securities held to maturity, reported amount	12,253	12,249
Net loans (excluding leases), fair value	11,053	10,242
Net loans (excluding leases), reported amount	11,170	10,387
Long-term debt, fair value	9,553	8,498
Long-term debt, reported amount	$ 9,531	$ 8,550

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Derivative Financial Instruments (Narrative) (Details) (USD $) In Millions, unless otherwise specified	Mar. 31, 2011	Mar. 31, 2011 4.956% Subordinated Note [Member] Fair Value Hedges [Member]	Mar. 31, 2011 5.25% Subordinated Note [Member] Fair Value Hedges [Member]	Mar. 31, 2011 Fair Value Hedges [Member]	Dec. 31, 2010 Fair Value Hedges [Member]	Mar. 31, 2011 Cash Flow Hedge [Member]	Dec. 31, 2010 Cash Flow Hedge [Member]
Derivative liability, fair value	$ 226
Collateral already posted, aggregate fair value	15
Maximum additional amount of payments related to termination events	$ 211
Securities weighted-average life, years				7.6	7.7	3.6	3.8
Subordinated note matures				2018
Fixed interest rate		4.96%	5.25%

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Derivative Financial Instruments (Schedule of Outstanding Hedges (Notional Amount)) (Details) (USD $) In Millions	Mar. 31, 2011	Dec. 31, 2010
Notional Amount of Derivatives	$ 2,302	$ 1,886
Trading [Member] \| Interest-Rate Contracts [Member] \| Swap Agreements [Member]
Notional Amount of Derivatives	106,478	52,383
Trading [Member] \| Interest-Rate Contracts [Member] \| Options and Caps Purchased [Member]
Notional Amount of Derivatives	1,046	140
Trading [Member] \| Interest-Rate Contracts [Member] \| Options and Caps Written [Member]
Notional Amount of Derivatives	604	130
Trading [Member] \| Interest-Rate Contracts [Member] \| Futures [Member]
Notional Amount of Derivatives	101,481	25,253
Trading [Member] \| Foreign Exchange Contracts [Member] \| Forward Swap and Spot [Member]
Notional Amount of Derivatives	798,688	637,847
Trading [Member] \| Foreign Exchange Contracts [Member] \| Options Purchased [Member]
Notional Amount of Derivatives	15,669	14,299
Trading [Member] \| Foreign Exchange Contracts [Member] \| Options Written [Member]
Notional Amount of Derivatives	15,337	14,587
Trading [Member] \| Credit Derivative Contracts [Member] \| Credit Default Swap Agreements [Member]
Notional Amount of Derivatives	155	155
Trading [Member] \| Other Contracts [Member] \| Stable Value Contracts [Member]
Notional Amount of Derivatives	44,918	46,758
Asset and Liability Management [Member] \| Interest-Rate Contracts [Member] \| Swap Agreements [Member]
Notional Amount of Derivatives	$ 2,302	$ 1,886

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Derivative Financial Instruments (Notional Amount of Interest-Rate Swap Agreements Designated as Fair Value and Cash Flow Hedges) (Details) (USD $) In Millions	3 Months Ended	12 Months Ended
Mar. 31, 2011	Dec. 31, 2010
Notional Amount of Fair Value Hedges	$ 2,174		$ 1,761
Notional Amount of Cash Flow Hedges	128		125
Notional Amount of Derivatives	2,302		1,886
Increase in carrying value of long-term debt	76		81
Total Investment Securities Available for Sale [Member]
Notional Amount of Fair Value Hedges	1,474		1,561
Notional Amount of Cash Flow Hedges	128		125
Notional Amount of Derivatives	1,602		1,686
Long-Term Debt [Member]
Notional Amount of Fair Value Hedges	700	^[1]	200	^[1]
Notional Amount of Cash Flow Hedges		^[1]		^[1]
Notional Amount of Derivatives	$ 700	^[1]	$ 200	^[1]

[1]	As of March 31, 2011 and December 31, 2010, fair value hedges of long-term debt increased the carrying value of long-term debt presented in our consolidated statement of condition by $76 million and $81 million, respectively.

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Derivative Financial Instruments (Contractual and Weighted-Average Interest Rates, Which Include the Effects of Hedges Related to Financial Instruments) (Details) (Long-Term Debt [Member])	Mar. 31, 2011	Mar. 31, 2010
Contractual Rates	3.55%	3.74%
Rate Including Impact of Hedges	3.20%	3.28%

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Derivative Financial Instruments (Schedule of the Fair Values of Derivative Financial Instruments) (Details) (USD $) In Millions	Mar. 31, 2011	Dec. 31, 2010
Derivatives Utilized in Trading Activities [Member] \| Fair Value Hedges [Member]
Derivative Asset Designated as Hedging Instrument, Fair Value	$ 9,241	$ 8,193
Derivative Liability Designated as Hedging Instrument, Fair Value	9,042	8,598
Derivatives Utilized in Trading Activities [Member] \| Interest-Rate Contracts [Member]
Derivative Asset Designated as Hedging Instrument, Fair Value	1,169	412
Derivative Liability Designated as Hedging Instrument, Fair Value	1,156	423
Derivatives Utilized in Trading Activities [Member] \| Foreign Exchange Contracts [Member]
Derivative Asset Designated as Hedging Instrument, Fair Value	8,071	7,779
Derivative Liability Designated as Hedging Instrument, Fair Value	7,885	8,174
Derivatives Utilized in Trading Activities [Member] \| Credit Derivative Contracts [Member]
Derivative Asset Designated as Hedging Instrument, Fair Value		1
Derivative Liability Designated as Hedging Instrument, Fair Value	1	1
Derivatives Utilized in Trading Activities [Member] \| Equity Derivative Contracts [Member]
Derivative Asset Designated as Hedging Instrument, Fair Value	1	1
Derivative Liability Designated as Hedging Instrument, Fair Value
Derivatives Designated as Hedges [Member] \| Fair Value Hedges [Member]
Derivative Asset Designated as Hedging Instrument, Fair Value	36	32
Derivative Liability Designated as Hedging Instrument, Fair Value	203	228
Derivatives Designated as Hedges [Member] \| Interest-Rate Contracts [Member]
Derivative Asset Designated as Hedging Instrument, Fair Value	36	32
Derivative Liability Designated as Hedging Instrument, Fair Value	$ 203	$ 228

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Derivative Financial Instruments (Impact of Derivatives on Consolidated Statement of Income) (Details) (USD $) In Millions	3 Months Ended
Mar. 31, 2011	Mar. 31, 2010
Derivatives Utilized in Trading Activities [Member]
Amount of Gain (Loss) on Derivative Recognized in Consolidated Statement of Income	$ 154	$ 155
Derivatives Utilized in Trading Activities [Member] \| Processing Fees and Other Revenue [Member] \| Interest-Rate Contracts [Member]
Amount of Gain (Loss) on Derivative Recognized in Consolidated Statement of Income		11
Derivatives Utilized in Trading Activities [Member] \| Processing Fees and Other Revenue [Member] \| Foreign Exchange Contracts [Member]
Amount of Gain (Loss) on Derivative Recognized in Consolidated Statement of Income	5	2
Derivatives Utilized in Trading Activities [Member] \| Trading Services Revenue [Member] \| Interest-Rate Contracts [Member]
Amount of Gain (Loss) on Derivative Recognized in Consolidated Statement of Income	(10)	(1)
Derivatives Utilized in Trading Activities [Member] \| Trading Services Revenue [Member] \| Foreign Exchange Contracts [Member]
Amount of Gain (Loss) on Derivative Recognized in Consolidated Statement of Income	159	143
Long-Term Debt [Member] \| Derivatives Designated as Fair Value Hedges [Member] \| Processing Fees and Other Revenue [Member] \| Interest-Rate Contracts [Member]
Amount of Gain (Loss) on Derivative Recognized in Consolidated Statement of Income	(3)	2
Amount of Gain (Loss) on Hedged Item Recognized in Consolidated Statement of Income	3	1
Derivatives Designated as Fair Value Hedges [Member]
Amount of Gain (Loss) on Derivative Recognized in Consolidated Statement of Income	23	(7)
Amount of Gain (Loss) on Hedged Item Recognized in Consolidated Statement of Income	(22)	10
Derivatives Designated as Fair Value Hedges [Member] \| Processing Fees and Other Revenue [Member] \| Interest-Rate Contracts [Member] \| Total Investment Securities Available for Sale [Member]
Amount of Gain (Loss) on Derivative Recognized in Consolidated Statement of Income	26	(9)
Amount of Gain (Loss) on Hedged Item Recognized in Consolidated Statement of Income	$ (25)	$ 9

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Derivative Financial Instruments (Schedule of Differences Between the Gains (Losses) on the Derivative and the Gains (Losses) on the Hedged Item) (Details) (Derivatives Designated as Cash Flow Value Hedges [Member], USD $) In Millions	3 Months Ended
Mar. 31, 2011	Mar. 31, 2010
Amount of Gain (Loss) on Derivative Recognized in Other Comprehensive Income
Amount of Gain (Loss) Reclassified from OCI to Consolidated Statement of Income	(2)	(1)
Amount of Gain (Loss) on Derivative Recognized in Consolidated Statement of Income	1	2
Net Interest Revenue [Member] \| Interest-Rate Contracts [Member]
Amount of Gain (Loss) on Derivative Recognized in Other Comprehensive Income
Amount of Gain (Loss) Reclassified from OCI to Consolidated Statement of Income	(2)	(1)
Amount of Gain (Loss) on Derivative Recognized in Consolidated Statement of Income	$ 1	$ 2

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Net Interest Revenue (Details) (USD $) In Millions	3 Months Ended	12 Months Ended
Mar. 31, 2011	Mar. 31, 2010	Dec. 31, 2010
Net Interest Revenue
Deposits with banks	$ 27		$ 19
U.S. Treasury and federal agencies	206		139
State and political subdivisions	56		54
Other investments	355		550
Securities purchased under resale agreements	10		4
Loans and leases	80	^[1]	111	^[1]
Other interest-earning assets			1
Total interest revenue	734		878
Deposits	58		33
Short-term borrowings	27	^[1]	111	^[1]
Long-term debt	71		72
Other interest-bearing liabilities	1		1
Total interest expense	157		217
Net interest revenue	577		661
Interest expense included in short-term borrowings relating to third-party asset-backed securitization trusts					$ 53

[1]	Amounts for 2010 included $53 million related to the third-party asset-backed securitization trusts consolidated into our financial statements on January 1, 2010 in connection with our adoption of new GAAP. These trusts were de-consolidated in June 2010.

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Other Expenses (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
Mar. 31, 2011	Mar. 31, 2010
Acquisition and restructuring costs	$ 19	$ 13
Beginning balance	137
Payments and adjustments	(25)
Ending balance	112
Intesa, Mourant International Finance Administration and BIAM [Member]
Acquisition and restructuring costs	14
Business Operations and Information Technology Transformation Program [Member]
Acquisition and restructuring costs	5
Number of employees involuntarily terminated	150
Employee-Related Costs [Member]
Beginning balance	90
Payments and adjustments	(23)
Ending balance	67
Real Estate Consolidation [Member]
Beginning balance	47
Payments and adjustments	(2)
Ending balance	$ 45

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Earnings Per Common Share (Details) (USD $) In Millions, except Share data in Thousands, unless otherwise specified	3 Months Ended
Mar. 31, 2011	Mar. 31, 2010
Earnings Per Common Share
Net income	$ 471		$ 495
Less dividends and undistributed earnings allocated to participating securities	(5)	^[1]	(3)	^[1]
Net income available to common shareholders	$ 466		$ 492
Basic average shares	497,471		494,588
Effect of dilutive securities: stock options and stock awards	3,509		3,468
Diluted average shares	500,980		498,056
Anti-dilutive securities	1,311	^[2]	10,316	^[2]
Earnings per share: Basic	$ 0.94		$ 0.99
Earnings per share: Diluted	$ 0.93	^[3]	$ 0.99	^[3]

[1]	Represented the portion of net income available to common equity allocated to participating securities; participating securities, composed of unvested restricted stock and director stock, have non-forfeitable rights to dividends during the vesting period on a basis equivalent to dividends paid to common shareholders.
[2]	Represented stock options, restricted stock and other securities outstanding but not included in the computation of diluted average shares because their effect was anti-dilutive.
[3]	Calculation for 2011 reflected the allocation of earnings to participating securities using the two-class method, as this computation was more dilutive than the calculation using the treasury stock method.

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Line of Business Information (Details) (USD $)	3 Months Ended
Mar. 31, 2011	Mar. 31, 2010
Servicing fees	$ 1,095,000,000	$ 895,000,000
Management fees	236,000,000	211,000,000
Trading services	302,000,000	242,000,000
Securities finance	66,000,000	72,000,000
Processing fees and other	92,000,000	120,000,000
Total fee revenue	1,791,000,000	1,540,000,000
Net interest revenue	577,000,000	661,000,000
Gains (Losses) related to investment securities, net	(7,000,000)	95,000,000
Total revenue	2,361,000,000	2,296,000,000
Provision for loan losses	(1,000,000)	15,000,000
Expenses from operations	1,683,000,000	1,566,000,000
Acquisition and restructuring costs	19,000,000	13,000,000
Total expenses	1,702,000,000	1,579,000,000
Income (Loss) from continuing operations before income taxes	660,000,000	702,000,000
Average assets	158,600,000,000	142,900,000,000
Investment Servicing [Member]
Servicing fees	1,095,000,000	895,000,000
Trading services	302,000,000	242,000,000
Securities finance	59,000,000	58,000,000
Processing fees and other	69,000,000	90,000,000
Total fee revenue	1,525,000,000	1,285,000,000
Net interest revenue	535,000,000	627,000,000
Gains (Losses) related to investment securities, net	(7,000,000)	95,000,000
Total revenue	2,053,000,000	2,007,000,000
Provision for loan losses	(1,000,000)	15,000,000
Expenses from operations	1,453,000,000	1,348,000,000
Total expenses	1,453,000,000	1,348,000,000
Income (Loss) from continuing operations before income taxes	601,000,000	644,000,000
Pre-tax margin	29.00%	32.00%
Average assets	153,500,000,000	137,900,000,000
Investment Management [Member]
Management fees	236,000,000	211,000,000
Securities finance	7,000,000	14,000,000
Processing fees and other	23,000,000	30,000,000
Total fee revenue	266,000,000	255,000,000
Net interest revenue	42,000,000	34,000,000
Total revenue	308,000,000	289,000,000
Expenses from operations	230,000,000	218,000,000
Total expenses	230,000,000	218,000,000
Income (Loss) from continuing operations before income taxes	78,000,000	71,000,000
Pre-tax margin	25.00%	25.00%
Average assets	5,100,000,000	5,000,000,000
Other [Member]
Acquisition and restructuring costs	19,000,000	13,000,000
Total expenses	19,000,000	13,000,000
Income (Loss) from continuing operations before income taxes	$ (19,000,000)	$ (13,000,000)

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Non-U.S. Activities (Schedule of Results from Non-U.S. Operations) (Details) (USD $) In Millions	3 Months Ended
Mar. 31, 2011	Mar. 31, 2010
Total fee revenue	$ 1,791	$ 1,540
Net interest revenue	577	661
Gains (Losses) related to investment securities, net	(7)	95
Total revenue	2,361	2,296
Expenses	1,702	1,579
Income before income tax expense	660	702
Income tax expense	189	207
Net income	471	495
Non-U.S. Operations Activities [Member]
Total fee revenue	743	635
Net interest revenue	155	155
Gains (Losses) related to investment securities, net	(6)	63
Total revenue	892	853
Expenses	789	655
Income before income tax expense	103	198
Income tax expense	26	75
Net income	$ 77	$ 123

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Non-U.S. Activities (Summary of Non-U.S. Assets) (Details) (USD $) In Millions	Mar. 31, 2011	Dec. 31, 2010
Interest-bearing deposits with banks	$ 19,984	$ 22,234
Other assets	17,441	13,800
Total assets	171,796	160,505
Non-U.S. Assets [Member]
Interest-bearing deposits with banks	8,252	9,443
Non-U.S. investment securities	24,076	20,357
Other assets	19,686	17,212
Total assets	$ 52,014	$ 47,012

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