State Street Corporation · NYSE:STT
State Street — Q1 2008 Earnings Presentation
8 slides from State Street's earnings presentation, Apr 15, 2008
Slide 1: Investment Portfolio As of March 31, 2008
1 Investment Portfolio As of March 31. 2008
Slide 2: Investment Portfolio Detail: 94.3% AAA/AA rated
2 94.3% AAA / AA rated at 3/31/08 Constructed to perform well through periods of economic weakness Unrealized pre-tax AFS MTM = $(3.1)B at 3/31/08 Assets selected using rigorous credit process Performing within expectations at 3/31/08 Diversified by asset class and geography Minimal downgrades in Q1
Slide 3: Investment Portfolio (End of Period)
3 INVESTMENT PORTFOLIO (END OF PERIOD) Portfolio amounts are expressed at book value and exclude AFS unrealized gains/losses Balance Sheet
Slide 4: Asset-Backed Securities Collateralized by Sub-Prime Mortgages
4 Balance Sheet Assets selected using a rigorous, independent credit process First-lien mortgage pools Performing within range of expectations Well diversified by issue, geography and servicer Seasoned portfolio: nearly half of our holdings were issued 2005 or earlier 86% of 2006 issue is AAA rated
Slide 5: Asset-Backed Securities Collateralized by Sub-Prime Mortgages (End of Period)
5 Balance Sheet ASSET- BACKED SECURITIES COLLATERALIZED BY SUB - PRIME MORTGAGES (END OF PERIOD)
Slide 6: Investment Portfolio—Monoline Insurance Coverage
6 Balance Sheet Philosophy: Assets are purchased based on an independent assessment of their underlying credit quality, not based on the insurance “wrap” provided As a result, our exposure to “wraps” for protection is secondary and is relatively small Diversified by monoline insurer $2.3B provided t
Slide 7: Investment Portfolio—Monoline Insurance Coverage as of 3/31/08
7 Balance Sheet As of 3/31/08 INVESTMENT PORTFOLIO—MONOLINE INSURANCE COVERAGE
Slide 8: Total Monoline Exposure as of 3/31/08
8 Balance Sheet Total Monoline Exposure as of 3/31/08
State Street — Q1 2008 Earnings Presentation on 6ix