State Street Corp. (STT), the third- biggest custody bank, revised its estimated tier one common capital ratio under the new Basel III rules to 11 percent from 9.8 percent.

Joseph Hooley, State Street’s chief executive officer, announced the change during a presentation today at the Barclays Capital Global Financial Services Conference in New York.

To contact the reporter on this story: Christopher Condon in Boston at ccondon4@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net