State Street and Northern Trust offload riskless assets in Q3

Combined $40bn plunge sees both banks hit four-year lows

Northern Trust and State Street offloaded a combined $40.3 billion in riskless assets in the third quarter, resulting in both banks recording their lowest figures for the category since 2019. 

State Street saw its riskless assets – those assigned a 0% risk-weighting under the regulator-set capital model – fall from $164.7 billion to $135.1 billion, an 18% drop and its lowest point since Q4 2019. As a proportion of total assets, riskless assets fell by 4.7 percentage points to 58.8%.

It was a

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