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Boston, MA — State Street Corporation (NYSE: STT), the world's leading provider of financial services to institutional investors, announced today it received top ranking in International Security Finance (ISF) magazine's 2008 Equity Lending Survey. The 2008 survey marks the fifth consecutive year State Street has received superior rankings for equity securities lending.
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| State Street ranked No. 1 in the two major categories, Overall and Weighted by Importance to Counterparty, attained the top spots, Overall and Weighted by Importance to Counterparty, for all three regional categories (The Americas, Europe/Middle-East/Africa and Asia/Pacific) and also finished first in six service categories. The survey asked securities borrowers to evaluate lending agents according to several business factors. |
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| In the service categories, State Street was top-ranked in Consistency of Approach to Pricing, Market Knowledge (developed markets), Breadth of Balance (ability to deal in bulk amounts/breadth of supply), Global Coordination (effective communications between teams, globally), Relationship Management (information sharing/availability/problem solving/market knowledge) and Stability of Supply (recalls/consistency of supply). |
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| "In what has been a difficult year, it is clear that State Street has been making substantial efforts to achieve the rank they have," ISF editors commented in an analysis of the poll results. "Last year the bank ranked fourth in the all important relationship management category. This year they have topped it. Relationship management has always been a strong category for State Street considering that since 2004, they have not fallen out of the top five." |
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| The ISF Equity Lending Survey, a key independent benchmark for the securities lending industry, drew more than 250 responses from securities lenders and borrowers. |
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| "Amid very challenging market conditions in 2008, we have kept our focus on delivering innovative solutions and superior service," said Craig Starble, head of State Street's securities finance team. "The top rankings in the ISF survey reflect our commitment to continually enhance our products, services and operational capabilities and to deliver results for our customers, globally." |
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| With more than $2.5 trillion in lendable assets and approximately $600 billion in assets on-loan, State Street is a market leader in securities finance. The company has been providing securities lending services since 1974, and currently lends securities for customers in more than 45 markets around the world through a global network of trading locations. |
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| State Street Corporation (NYSE: STT) is the world's leading provider of financial services to institutional investors, including investment servicing, investment management and investment research and trading. With $14.0 trillion in assets under custody and $1.7 trillion in assets under management at September 30, 2008, State Street operates in 26 countries and more than 100 geographic markets worldwide. For more information, visit State Street's
website at www.statestreet.com.
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