by Calculated Risk on 1/20/2009 09:37:00 AM

From Bloomberg: State Street Net Falls 71% on Costs to Support Funds

State Street Corp ... Results included costs of more than $800 million to offset losses in its stable value funds, cut jobs and write down the value of investment securities.

Here is the State Street presentation (hat tip Mike in Long Island)

Check out the acceleration in the Unrealized after-tax MTM losses on page 4.

Also Mike suggests looking at page 18 and the exposure to RMBS in Spain and Italy.

And from the WSJ: Regions Financial Swings to Loss on $6 Billion Write-Down

Regions Financial Corp. swung to a fourth-quarter loss as it took a $6 billion goodwill write-down and sharply raised loan-loss provisions, although non-performing assets fell slightly amid the continuing disposal of problem assets.

The bad news continues ...