State Street sees Q3 NII down 12%-18% on a sequential basis

Says investment management franchise remains well-positioned. Says continues to see strong demand for Money Market funds. Says sales pipeline remains strong for Charles River Development. Says operational deposits as a percent of total deposits remained consistent. Says carefully invested in strategic elements of the company. Says continue to navigate operating environment with strong capital levels. Says plans another $1B buyback in Q3. Says pleased with durability of business. Says expects equity markets to remain flat through quarter end. Sees Q3 fee revenue down 1%-1.5% sequentially. Expects Q4 NII down 3%-6% vs. Q3 and expects NII to stabilize in quarters after. Sees expenses down 0.5%-1% on sequential basis. Sees Q3 effective tax rate 21%-22%.