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| Brief Excerpt: | ...High Ratings Owe to Strong Business Model: Trust and processing banks in the U.S. -- Bank of New York Mellon (BNY), State Street Corporation (State Street), Northern Trust Corporation (Northern), and Brown Brothers Harriman (Brown Brothers), collectively, trust banks -- are some of Fitch's highest ratings globally for financial institutions. Their business models possess large barriers to entry due to their size and scale. The high fixed costs, sticky customer relationships, and low marginal costs have created large economies of scale, and therefore driven consolidation into a few large players that dominate the industry. State Street's IDR Upgraded: Fitch recently upgraded State Street's long-term IDR and viability rating to `AA¡' and `aa¡' respectively, up from `A+' and `a+'. The upgrade reflects the company's improved and more seasoned risk management practices and procedures, continued relatively conservative balance sheet posture and continued efforts to streamline its business, which... |
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| Report Type: | |
| Company(ies) | State Street Corporation
, State Street Bank and Trust Company
, Bank of New York Mellon Corp/The
, BNY Mellon National Association
, The Bank of New York Mellon
, Mellon Funding Corporation
, State Street Capital Trust I
, Northern Trust Corporation
, The Northern Trust Company
, BNY Institutional Capital Trust A
, Bank of New York Mellon Trust Company, National Association
, Brown Brothers Harriman & Company
, The Bank of New York Mellon Corporation
, The Bank Of New York Mellon (International) Ltd
, NTC Capital I
, NTC Capital II
, Mellon Capital III
, The Bank of New York Mellon (Luxembourg) S.A.
, Bank Of New York Mellon Sa/Nv (Luxembourg Branch)
, State Street Capital Trust IV |
| Ticker(s) | |
| Issuer | The Bank of New York Mellon (Luxembourg) S.A. |
| Format: | | PDF |  |
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