BOSTON, Sept 11 State Street Corp said
Tuesday it expects its net interest margin to decline by 10 to
12 basis points in 2013, assuming interest rates remain at
Net interest margin, or NIM, is closely watched by analysts
and investors because it largely represents the difference
between what the bank pays on deposits and what it earns on the
money through investing. A decline in the NIM could weigh down
the Boston-based custody bank's results.
State Street provided the details in a presentation filed
with the U.S. Securities and Exchange Commission. State Street
Chief Executive Jay Hooley is scheduled to discuss the
presentation Tuesday at the Barclays Financial Services
Meanwhile, State Street said its 2012 net interest margin
forecast remains the same at 145 basis points to 155 basis
points on an operating basis.