Sentences and paragraphs of STT's Risk Factors and MD&A, 10-K 2026-02-19 against 10-K 2025-02-13.
Each links to the text at sec.gov.
RemovedRisk Factors
Economic conditions across the world face continued uncertainty due to, among other things, elevated geopolitical risks in multiple regions, including Ukraine, Israel and the Middle East, among others, an uncertain monetary policy environment, and slowing growth and heightened volatility in key emerging markets. New or continued economic deterioration may increase concerns about sovereign debt sustainability, interdependencies among financial institutions and sovereigns, and political and other risks. Continued uncertainty in the external environment has led to increased concern around the near- to medium-term outlook for economic progress in the regions in which we operate, including the United States, Europe, the Middle East and Asia.
Read it in 10-K 2025-02-13 at sec.gov ↗
RemovedRisk Factors
Given the scope of our global operations, economic or market uncertainty, volatility, illiquidity or disruption resulting from these and related factors could have a material adverse impact on our consolidated results of operations or financial condition, with a greater relative impact as compared to our peers.
Read it in 10-K 2025-02-13 at sec.gov ↗
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RemovedRisk Factors
•Subcustodian risks: With the exception of the United States, Canada, Germany and the United Kingdom, we maintain subcustodian relationships in all jurisdictions in which our clients invest, including emerging and other underdeveloped markets, and markets subject to sanctions. Our use of unaffiliated subcustodians exposes us to operational, reputational and regulatory risk, as we are dependent upon the subcustodians in performing several of our services to clients in those markets. Operational risk includes risks of the legal and regulatory systems and market practices of the jurisdictions in which
Read it in 10-K 2025-02-13 at sec.gov ↗
RemovedRisk Factors
lending and repurchase agreements, we, rather than our client, are exposed to the risks associated with collateral value.
Read it in 10-K 2025-02-13 at sec.gov ↗
RemovedRisk Factors
•Leveraged loans: We invest in leveraged loans, both in the United States and in Europe. We invest in these loans to non-investment grade borrowers through participation in loan syndications in the non-investment grade lending market. We rate
Read it in 10-K 2025-02-13 at sec.gov ↗
RemovedRisk Factors
In addition, our advanced systems are subject to update and periodic revalidation in response to
Read it in 10-K 2025-02-13 at sec.gov ↗
RemovedMD&A
•Operating leverage was 9.4% points, largely reflecting the net impact of notable items in the current and prior year periods, which represented 7.4% points of operating leverage. Operating leverage represents the difference between the percentage change in total revenue and the percentage change in total expenses, in each case relative to the prior year period.
Read it in 10-K 2025-02-13 at sec.gov ↗
RemovedMD&A
•Fee operating leverage was 7.7% points, largely reflecting the net impact of notable items in the current and prior year periods, which represented 5.6% points of fee operating leverage. Fee operating leverage represents the difference between the percentage change in total fee revenue and the percentage change in total expenses, in each case relative to the prior year period.
Read it in 10-K 2025-02-13 at sec.gov ↗
RemovedMD&A
•Completed the consolidation of our final joint venture in India, further advancing the plan to transform our operating model to unlock efficiency savings and improve client experience. The joint venture consolidation in 2024 increased our headcount by approximately 17% as of December 31, 2024, compared to December 31, 2023. Associated headcount cost was previously reflected in compensation and employee benefits expenses.
Read it in 10-K 2025-02-13 at sec.gov ↗
RemovedMD&A
◦Deferred compensation expense acceleration of approximately $79 million, related to prior period incentive compensation awards to align our deferred pay mix with peers.
Read it in 10-K 2025-02-13 at sec.gov ↗
RemovedMD&A
◦Revenue-related recovery of $15 million from settlement proceeds associated with a 2018 FX benchmark litigation resolution, which is reflected in foreign exchange trading services.
Read it in 10-K 2025-02-13 at sec.gov ↗
RemovedMD&A
◦FDIC special assessment of $387 million recorded in other expenses, related to FDIC’s recovery of estimated losses to the Deposit Insurance Fund associated with the
Read it in 10-K 2025-02-13 at sec.gov ↗
RemovedMD&A
•Servicing fee revenue increased 2% compared to 2023, as higher average market levels and net new business, excluding a previously disclosed client transition, were partially offset by pricing headwinds, a previously disclosed client transition and lower client activity and adjustments, including asset mix shift.
Read it in 10-K 2025-02-13 at sec.gov ↗
RemovedMD&A
•Securities finance revenue increased 3% compared to 2023, mainly due to higher client lending balances, partially offset by lower spreads primarily resulting from muted industry specials activity.
Read it in 10-K 2025-02-13 at sec.gov ↗
RemovedMD&A
•NII increased 6% compared to 2023, primarily due to higher investment securities yields and loan growth, partially offset by deposit mix shift towards interest-bearing deposits.
Read it in 10-K 2025-02-13 at sec.gov ↗
RemovedMD&A
•On March 15, 2024, we redeemed an aggregate $1.0 billion, or all 7,500 outstanding shares, of our non-cumulative perpetual preferred stock, Series D, for a cash redemption price of $100,000 per share (equivalent to $25 per depository share), and all 2,500 of the outstanding shares of our noncumulative perpetual preferred stock, Series F (represented by 250,000 depository shares), for a cash redemption price of $100,000 per share (equivalent to $1,000 per
Read it in 10-K 2025-02-13 at sec.gov ↗
RemovedMD&A
•On September 16, 2024, we redeemed an aggregate $500 million, or all 5,000 outstanding shares, of our non-cumulative perpetual preferred stock, Series H (represented by 500,000 depository shares), for a cash redemption price of $100,000 per share (equivalent to $1,000 per depository share), plus all declared and unpaid dividends.
Read it in 10-K 2025-02-13 at sec.gov ↗
RemovedMD&A
(1) The index names listed in the table are service marks of their respective owners.
Read it in 10-K 2025-02-13 at sec.gov ↗