COMMONWEALTH OF MASSACHUSETTS		04-2456637
(State or other jurisdiction		(I.R.S. Employer
of incorporation)		Identification No.)
225 Franklin Street		02110
Boston, Massachusetts		(Zip Code)
(Address of principal
executive office)

		Page
PART I.    FINANCIAL INFORMATION
Item 1.    Financial Statements
Consolidated Statements of Income		1
Consolidated Statement of Condition		3
Consolidated Statement of Changes in Stockholders’ Equity		4
Consolidated Statement of Cash Flows		5
Notes to Consolidated Financial Statements		6
Independent Accountants’ Review Report		15
Item 2.    Management’s Discussion and Analysis of Financial Condition and Results of Operations		16
Item 3.    Quantitative and Qualitative Disclosure About Market Risk		25
PART II.    OTHER INFORMATION
Item 2.    Changes in Securities and Use of Proceeds		26
Item 6.    Exhibits and Reports on Form 8-K		26
Signatures		27
Exhibits

(Dollars in millions, except per share data) Three months ended June 30,		2002			2001
Fee Revenue
Servicing fees		$	440		$	426
Management fees			141			135
Foreign exchange trading			91			99
Processing fees and other			83			77
Total fee revenue			755			737
Net Interest Revenue
Interest revenue			510			732
Interest expense			261			493
Net interest revenue			249			239
Provision for loan losses			1			3
Net interest revenue after provision for loan losses			248			236
Total Revenue			1,003			973
Operating Expenses
Salaries and employee benefits			440			416
Information systems and communications			91			90
Transaction processing services			59			60
Occupancy			60			56
Other			88			103
Total operating expenses			738			725
Income before income taxes			265			248
Income taxes			87			81
Net Income		$	178		$	167
Earnings Per Share
Basic		$	.55		$	.51
Diluted			.54			.50
Average Shares Outstanding (in thousands)
Basic			323,858			325,214
Diluted			328,262			330,537
Cash Dividends Declared Per Share		$	.12		$	.10

(Dollars in millions, except per share data) Six months ended June 30,		2002			2001
Fee Revenue
Servicing fees		$	862		$	822
Management fees			276			262
Foreign exchange trading			159			198
Processing fees and other			159			98
Total fee revenue			1,456			1,380
Net Interest Revenue
Interest revenue			1,034			1,587
Interest expense			504			1,101
Net interest revenue			530			486
Provision for loan losses			2			4
Net interest revenue after provision for loan losses			528			482
Total Revenue			1,984			1,862
Operating Expenses
Salaries and employee benefits			861			808
Information systems and communications			187			177
Transaction processing services			118			124
Occupancy			120			109
Other			167			213
Total operating expenses			1,453			1,431
Income before income taxes			531			431
Income taxes			175			143
Net Income		$	356		$	288
Earnings Per Share
Basic		$	1.10		$	.89
Diluted			1.08			.87
Average Shares Outstanding (in thousands)
Basic			323,774			324,949
Diluted			328,450			330,361
Cash Dividends Declared Per Share		$	.23		$	.195

		June 30,				December 31,
(Dollars in millions, except per share data)		2002				2001
		(Unaudited)				(Note A)
Assets
Cash and due from banks		$	1,960			$	1,651
Interest-bearing deposits with banks			25,602				20,317
Securities purchased under resale agreements and securities borrowed			17,771				16,680
Federal funds sold			2,550
Trading account assets			872				994
Investment securities (including securities pledged of $7,835 and $9,006)			20,016				20,781
Loans (less allowance of $63 and $58)			5,368				5,283
Premises and equipment			863				829
Accrued income receivable			853				880
Goodwill			477				470
Other intangible assets			139				142
Other assets			3,857				1,823
Total Assets		$	80,328			$	69,850
Liabilities
Deposits:
Interest-bearing—U.S.		$	8,657			$	2,753
Noninterest-bearing			10,031				9,390
Interest-bearing—Non-U.S.			28,284				26,416
Total deposits			46,972				38,559
Securities sold under repurchase agreements			20,122				19,006
Federal funds purchased			1,972				3,315
Other short-term borrowings			1,131				1,012
Accrued taxes and other expenses			1,649				1,582
Other liabilities			3,023				1,314
Long-term debt			1,272				1,217
Total Liabilities			76,141				66,005
Stockholders’ Equity
Preferred stock, no par: authorized 3,500,000; issued none
Common stock, $1 par: authorized 500,000,000; issued 329,994,000 and 329,999,000			330				330
Surplus			103				110
Retained earnings			3,893				3,612
Other unrealized comprehensive income			117				70
Treasury stock, at cost (5,949,000 and 6,329,000 shares)			(256	)			(277	)
Total Stockholders’ Equity			4,187				3,845
Total Liabilities and Stockholders’ Equity		$	80,328			$	69,850

Common Stock

Retained

Other Unrealized Comprehensive

Treasury Stock

(Dollars in millions, shares in thousands)

Shares

Amount

Surplus

Earnings

Income (Loss)

Shares

Amount

Total

Balance at December 31, 2000

167,219

$

167

$

69

$

3,278

$