Long-Term Debt

12 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

Long-Term Debt

Long-Term Debt

(Dollars in millions)						As of December 31,
Issuance Date	Maturity Date	Coupon Rate		Seniority	Interest Due Dates	2025		2024
Parent Company and Non-Banking Subsidiary Issuances
February 28, 2025	February 28, 2028	4.536	%	Senior notes	2/28; 8/28	$	1,346	$	—
October 22, 2024	October 22, 2027	4.330	%	Senior notes	4/22, 10/22(2)	1,208		1,189
August 3, 2023	August 3, 2026	5.272	%	Senior notes	2/3; 8/3(2)	1,204		1,203
November 21, 2023	November 21, 2029	5.684	%	Fixed-to-floating rate senior notes	5/21; 11/21(2)	1,009		986
August 20, 2024	February 20, 2029	4.530	%	Fixed-to-floating rate senior notes	2/20; 8/20(2)	1,007		989
March 18, 2024	March 18, 2027	4.993	%	Senior notes	3/18, 9/18(2)	1,004		993
April 24, 2025	April 24, 2030	4.834	%	Senior notes	4/24; 10/24(2)	1,002		—
May 18, 2023	May 18, 2034	5.159	%	Fixed-to-floating rate senior notes	5/18; 11/18	996		995
October 23, 2025	October 23, 2036	4.784	%	Fixed-to-floating rate senior notes	4/23; 10/23(2)	973		—
March 3, 2021	March 3, 2031(1)(3)	2.200	%	Senior subordinated notes	3/3; 9/3	846		845
October 22, 2024	October 22, 2032	4.675	%	Fixed-to-floating rate senior notes	4/22; 10/22(2)	813		789
January 24, 2020	January 24, 2030(1)	2.400	%	Senior notes	1/24, 7/24(2)	777		784
February 28, 2025	February 28, 2036	5.146	%	Fixed-to-floating rate senior notes	2/28; 8/28	746		—
May 19, 2016	May 19, 2026(1)	2.650	%	Senior notes	5/19; 11/19(2)	745		728
January 26, 2023	January 26, 2034	4.821	%	Fixed-to-floating rate senior notes	1/26, 7/26(2)	728		702
April 24, 2025	April 24, 2028	4.543	%	Fixed-to-floating rate senior notes	4/24; 10/24(2)	699		—
August 4, 2022	August 4, 2033	4.164	%	Fixed-to-floating rate senior notes	2/4; 8/4(2)	695		665
February 28, 2025	February 28, 2030	4.729	%	Senior notes	2/28; 8/28	647		—
February 7, 2022	February 7, 2028	2.203	%	Fixed-to-floating rate senior notes	2/7; 8/7(2)	634		619
December 3, 2018	December 3, 2029	4.141	%	Fixed-to-floating rate senior notes	6/3; 12/3(2)	536		535
November 1, 2019	November 1, 2034(3)	3.031	%	Fixed-to-floating rate senior subordinated notes	5/1; 11/1(2)	518		523
November 21, 2023	November 21, 2034(3)	6.123	%	Fixed-to-floating rate senior subordinated notes	5/21; 11/21(2)	507		492
November 4, 2022	November 4, 2028	5.820	%	Fixed-to-floating rate senior notes	5/4; 11/4(2)	503		495
April 30, 2007	June 15, 2047	Floating-rate		Junior subordinated debentures	3/15; 6/15; 9/15; 12/15	500		500
October 29, 2020	March 30, 2031	3.152	%	Fixed-to-floating rate senior notes	3/30, 9/30	499		498
May 13, 2022	May 13, 2033	4.421	%	Fixed-to-floating rate senior notes	5/13; 11/13	498		498
November 18, 2021	November 18, 2027	1.684	%	Fixed-to-floating rate senior notes	5/18; 11/18(2)	498		497
February 7, 2022	February 7, 2033	2.623	%	Fixed-to-floating rate senior notes	2/7; 8/7(2)	490		465
August 3, 2023	August 3, 2026	Floating-rate		Senior notes	2/3; 5/3; 8/3; 11/3	300		299
October 22, 2024	October 22, 2027	Floating-rate		Senior notes	1/22; 4/22; 7/22; 10/22	299		299
April 24, 2025	April 24, 2028	Floating-rate		Senior notes	1/24; 4/24; 7/24; 10/24	299		—
June 21, 1996	June 15, 2026(1)	7.350	%	Senior notes	6/15; 12/15	150		150
May 15, 1998	May 15, 2028	Floating-rate		Junior subordinated debentures	2/15; 5/15; 8/15; 11/15	100		100
August 18, 2015	August 18, 2025(1)	3.550	%	Senior notes	2/18; 8/18(2)	—		1,285
May 18, 2023	May 18, 2026(4)	5.104	%	Fixed-to-floating rate senior notes	5/18; 11/18	—		999
January 26, 2023	January 26, 2026(4)	4.857	%	Fixed-to-floating rate senior notes	1/26, 7/26(2)	—		499
November 4, 2022	November 4, 2026(4)	5.751	%	Fixed-to-floating rate senior notes	5/4; 11/4(2)	—		498
March 30, 2020	March 30, 2026(4)	2.901	%	Fixed-to-floating rate senior notes	3/30; 9/30(2)	—		497
February 7, 2022	February 6, 2026(4)	1.746	%	Fixed-to-floating rate senior notes	2/6; 8/6(2)	—		299
State Street Bank issuances and lease obligations
November 25, 2024	November 25, 2026(1)	4.594	%	Senior notes	5/25, 11/25	1,148		1,146
November 25, 2024	November 23, 2029(1)	4.782	%	Senior notes	5/23, 11/23	797		796
November 25, 2024	November 25, 2026(1)	Floating-rate		Senior notes	2/25; 5/25; 8/25; 11/25	300		299
Long-term finance leases and equipment financing						122		116
Total long-term debt						$	25,143	$	23,272

(1) We may not redeem notes prior to their maturity.

(2) We have entered into interest rate swap agreements, recorded as fair value hedges, to modify our interest expense on these senior and subordinated notes from a fixed rate to a floating rate. As of December 31, 2025 and 2024, these fair value hedges decreased the carrying value of long-term debt by $3 million and $220 million, respectively. Refer to Note 10 for additional information about fair value hedges.

(3) The subordinated notes qualify for inclusion in tier 2 regulatory capital under current federal regulatory capital guidelines.

(4) We redeemed the notes prior to original maturity date.

State Street Bank

As of December 31, 2025 and 2024, $106 million and $79 million, respectively, of long-term finance leases was related to information technology equipment. Refer to Note 20 for additional information.