Exhibit 23.1

                        [Consent of Independent Auditors]

We consent to the reference to our firm under the caption "Experts" in the
Registration Statement (Form S-3 No. 333-98267) and the related prospectus of
State Street Corporation for the registration of up to $1,500,000,000 of its
debt securities, preferred stock, depositary shares, common stock, warrants,
stock purchase contracts, stock purchase units and guarantees and the
registration of capital securities by affiliated Delaware business trusts, and
to the incorporation by reference therein of our report dated January 16, 2002
with respect to the consolidated financial statements of State Street
Corporation included in its Annual Report (Form 10-K) for the year ended
December 31, 2001, filed with the Securities and Exchange Commission.

                                                     Ernst & Young LLP

Boston, Massachusetts
August 26, 2002