securities and exchange commission

Washington, D.C. 20549


FORM T-1

STATEMENT OF ELIGIBILITY UNDER
THE TRUST INDENTURE ACT OF 1939 OF A
CORPORATION DESIGNATED TO ACT AS TRUSTEE
Check if an Application to Determine Eligibility of
a Trustee Pursuant to Section 305(b)(2)


U.S. BANK NATIONAL ASSOCIATION

(Exact name of Trustee as specified in its charter)

31-0841368

I.R.S. Employer Identification No.

800 Nicollet Mall

 

 

Minneapolis, Minnesota

 

55402

(Address of principal executive offices)

 

(Zip Code)

 

Earl W. Dennison Jr.
U.S. Bank National Association
One Federal Street, 3
rd Floor
Boston, MA  02110
 (617) 603-6567

(Name, address and telephone number of agent for service)

STATE STREET CORPORATION

(Issuer with respect to the Securities)

Massachusetts

 

04-2456637

(State or other jurisdiction of incorporation or organization)

 

(I.R.S. Employer Identification No.)

 

One Lincoln Street, Boston, MA

 

02111

(Address of Principal Executive Offices)

 

(Zip Code)

 

Guarantee of Payment by State Street Corporation for the State Street
Capital Trust IV Floating Rate Capital Securities

(Title of the Indenture Securities)

 




FORM T-1

Item 1.      GENERAL INFORMATION.  Furnish the following information as to the Trustee.

a)                        Name and address of each examining or supervising authority to which it is subject.

Comptroller of the Currency
Washington, D.C.

b)                       Whether it is authorized to exercise corporate trust powers.

Yes

Item 2.     AFFILIATIONS WITH OBLIGOR.  If the obligor is an affiliate of the Trustee, describe each such affiliation.

None

Items 3-15                                      Items 3-15 are not applicable because to the best of the Trustee’s knowledge, the obligor is not in default under any Indenture for which the Trustee acts as Trustee.

Item 16.                                                    LIST OF EXHIBITS:  List below all exhibits filed as a part of this statement of eligibility and qualification.

1.   A copy of the Articles of Association of the Trustee.*

2.   A copy of the certificate of authority of the Trustee to commence business.*

3.   A copy of the certificate of authority of the Trustee to exercise corporate trust powers.*

4.   A copy of the existing bylaws of the Trustee.*

5.   A copy of each Indenture referred to in Item 4.  Not applicable.

6.   The consent of the Trustee required by Section 321(b) of the Trust Indenture Act of 1939, attached as Exhibit 6.

7.   Report of Condition of the Trustee as of March 31, 2006 published pursuant to law or the requirements of its supervising or examining authority, attached as Exhibit 7.

*                    Incorporated by reference to Exhibit 25.1 to Amendment No. 2 to registration statement on S-4, Registration Number 333-128217 filed on November 15, 2005.

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SIGNATURE

Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the Trustee, U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility and qualification to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Boston, Commonwealth of Massachusetts, on April 24, 2007.

 

By:

/s/ Earl W. Dennison Jr.

 

 

Earl W. Dennison Jr.

 

 

Vice President

 

By:

/s/ David J. Ganss

 

 

David J. Ganss
Vice President

 

 

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Exhibit 6

CONSENT

In accordance with Section 321(b) of the Trust Indenture Act of 1939, the undersigned, U.S. BANK NATIONAL ASSOCIATION hereby consents that reports of examination of the undersigned by Federal, State, Territorial or District authorities may be furnished by such authorities to the Securities and Exchange Commission upon its request therefor.

Dated:  April 24, 2007

 

By:

/s/ Earl W. Dennison Jr.

 

 

Earl W. Dennison Jr.

 

 

Vice President

 

By:

/s/ David J. Ganss

 

 

David J. Ganss
Vice President

 

 

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Exhibit 7

U.S. Bank National Association
Statement of Financial Condition
As of 12/31/2006

($000’s)

 

 

12/31/2006

 

Assets

 

 

 

Cash and Due From Depository Institutions

 

$

8,644,951

 

Securities

 

39,699,269

 

Federal Funds

 

3,512,083

 

Loans & Lease Financing Receivables

 

141,159,825

 

Fixed Assets

 

2,300,043

 

Intangible Assets

 

12,048,875

 

Other Assets

 

10,437,280

 

Total Assets

 

$

217,802,326

 

 

 

 

 

Liabilities

 

 

 

Deposits

 

$

135,903,121

 

Fed Funds

 

12,316,778

 

Treasury Demand Notes

 

0

 

Trading Liabilities

 

139,984

 

Other Borrowed Money

 

33,217,524

 

Acceptances

 

0

 

Subordinated Notes and Debentures

 

7,384,026

 

Other Liabilities

 

6,677,926

 

Total Liabilities

 

$

195,639,359

 

 

 

 

 

Equity

 

 

 

Minority Interest in Subsidiaries

 

$

1,544,842

 

Common and Preferred Stock

 

18,200

 

Surplus

 

11,976,937

 

Undivided Profits

 

8,622,988

 

Total Equity Capital

 

$

22,162,967

 

 

 

 

 

Total Liabilities and Equity Capital

 

$

217,802,326

 

 


To the best of the undersigned’s determination, as of the date hereof, the above financial information is true and correct.

U.S. Bank National Association

By:

/s/ Earl W. Dennison Jr.

 

 

Vice President

 

Date:

April 24, 2007

 

 

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