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.

 

Earl W. Dennison Jr.

U.S. Bank National Association

One Federal Street, 3rd 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)

 

State Street Corporation Floating Rate Junior Subordinated Debentures

(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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