You can now read 10 articles in a month for free on BostonGlobe.com. Read as much as you want anywhere and anytime for just 99¢.

The Boston Globe

Business

Bank deposits at State Street nearly double

Low interest rates, unlimited FDIC coverage are cited

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.

Loading comments...

You have reached the limit of 10 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week