SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: October 1, 1999
State Street Corporation
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(Exact name of registrant as specified in its charter)
Massachusetts 0-5108 04-2456637
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(State of Incorporation) (Commission File Number) (IRS Employer
Identification
Number)
225 Franklin Street, Boston, Massachusetts 02110
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (617)786-3000
Item 5. Other Events.
On October 4, 1999, Registrant announced that it had completed the sale
on October 1, 1999 of its commercial banking business and its associated four
branches, to Citizens Financial Group, a financial services group owned by the
Royal Bank of Scotland. Registrant's commercial banking business loans total
approximately $2.4 billion, and Registrant will report a gain, after tax and
net of exit and associated costs, of approximately $164 million in the fourth
quarter of 1999 from the sale.
The press release issued by Registrant in connection with the
announcement is filed herewith as Exhibit 99 and is incorporated herein by
reference.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
99 Form of press release dated October 4, 1999.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
STATE STREET CORPORATION
By: /s/Rex S. Schuette
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Name: Rex S. Schuette
Title: Senior Vice President and
Chief Accounting Officer
Dated: October 4, 1999
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EXHIBIT INDEX
EXHIBIT
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99 Form of press release dated October 4, 1999.
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