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State Street hit by off-balance sheet concerns

State Street Corporation has been hit by concerns over the size of its credit lines to off-balance sheet vehicles in the wake of moves by owners of similar funds to step in with debt financing when the commercial paper market seized up.

The Boston-based bank has $22.1bn (€16bn) in credit lines to at least six of its asset-backed commercial paper conduits, worth 17% of its total assets, according to analysts' studying regulatory filings.

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