An enforcement action against Boston-based State Street Corp. over Bank Secrecy Act (BSA) and anti-money laundering (AML) regulations was terminated Thursday by the Federal Reserve Board.

State Street and its subsidiary, State Street Bank and Trust Co., had agreed to the enforcement action in May 2015 with the Federal Reserve Bank of Boston and the Massachusetts Division of Banks. The agencies at the time said recent inspections had found deficiencies firm-wide in State Street’s compliance with BSA and AML regulations. The enforcement action also found deficiencies “with respect to internal controls, customer due diligence procedures and transaction monitoring processes.”

The agreement required State Street to improve its compliance risk management program for BSA and AML requirements, strengthen the board of director’s oversight of the compliance program and install an effective automated transaction monitoring system. The bank was also required to submit quarterly progress reports to the agencies.

The enforcement action did not detail the deficiencies it found with State Street’s compliance.