State Street Corp., one of the state’s largest financial institutions, is swimming in billions of dollars in additional deposits as clients are giving up on alternatives that pay almost no interest.
The Boston firm had $52.1 billion in bank deposits as of the end of June, nearly double the $28.6 billion the amount from a year ago, according to the Federal Deposit Insurance Corp.
Comments
Thank goodness Mayor Menino and the BRA just gave State Street Corp an $11,5 million tax break from the pockets of all of the property owners in the City oif Boston, it looks like the firm really needed it! I am so happy that the property taxes I am paying on my two family in Brighton are now being used to train INDIAN nationals on the third floor of the john Hancock Tower to take Massachusetts jobs and return to INDIA Jay Hooley and Allen Greene are in the process of off-shoring Boston's Fund Administration divion - 750 middle calss jobs) with them so my neighbors kids or my kids will not get a chance to work in the financial services industry.
http://www.wgbh.org/programs/Greater-Boston-11/episodes/July-19-2012State-Street-outsourcing-40276