State Street has begun selling $1.5bn in stock and will sell at least $500m in senior debt as part of the financial services group's plan to repay money received under the US's troubled asset relief programme (Tarp).
It is the latest in the big round of capital-raising by financial institutions following the Treasury-administered “stress tests”.
Some are hoping repay to Tarp money and others are raising capital because they have been told they need to.
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