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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CashCollateralDepositedWithNotOffsetAgainstDerivativeLiabilities_lbl" xml:lang="en-US" id="id_379234_598885_3_1">Additional cash collateral deposited with derivative counterparties not offset against derivative liabilities on the consolidated balance sheet as amounts exceed the net derivative positions with the counterparties.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CashCollateralDepositedWithNotOffsetAgainstDerivativeLiabilities_lbl" xml:lang="en-US" id="id_379234_598885_2_1">This amount represents additional cash collateral deposited with derivative counterparties not offset against derivative liabilities</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CashCollateralReceivedAndDeposited_lbl" xml:lang="en-US" id="id_379234_522547_3_1">Reduction in derivative assets (liabilities) due to cash collateral received from (deposited with) derivative counterparties.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CashCollateralReceivedAndDeposited_lbl" xml:lang="en-US" id="id_379234_522547_2_1">Reduction in derivatives due to cash collateral received from and deposited with derivative counterparties</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CashCollateralReceivedFromNotOffsetAgainstDerivativeAssets_lbl" xml:lang="en-US" id="id_379234_598884_3_1">This amount represents additional cash collateral received from derivative counterparties not offset against derivative assets on the consolidated balance sheet as amounts exceed the net derivative positions with the counterparties.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CashCollateralReceivedFromNotOffsetAgainstDerivativeAssets_lbl" xml:lang="en-US" id="id_379234_598884_1_1">Cash Collateral Received From Not Offset Against Derivative Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CashCollateralReceivedFromNotOffsetAgainstDerivativeAssets_lbl" xml:lang="en-US" id="id_379234_598884_2_1">This amount represents additional cash collateral received from derivative counterparties not offset against derivative assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CashCollateralReceivedFromNotOffsetAgainstDerivativeAssets" xlink:to="ntrs_CashCollateralReceivedFromNotOffsetAgainstDerivativeAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_CashFlowHedgeGainLossReclassifiedToCompensationExpenseNet" xlink:label="ntrs_CashFlowHedgeGainLossReclassifiedToCompensationExpenseNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CashFlowHedgeGainLossReclassifiedToCompensationExpenseNet_lbl" xml:lang="en-US" id="id_379234_522155_3_1">Cash Flow Hedge Gain (Loss) Reclassified to Compensation Expense, Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CashFlowHedgeGainLossReclassifiedToCompensationExpenseNet_lbl" xml:lang="en-US" id="id_379234_522155_1_1">Cash Flow Hedge Gain Loss Reclassified To Compensation Expense Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CashFlowHedgeGainLossReclassifiedToCompensationExpenseNet_lbl" xml:lang="en-US" id="id_379234_522155_2_1">Compensation</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_CashFlowHedgeGainLossReclassifiedToEmployeeBenefitsNet" xlink:label="ntrs_CashFlowHedgeGainLossReclassifiedToEmployeeBenefitsNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CashFlowHedgeGainLossReclassifiedToEmployeeBenefitsNet_lbl" xml:lang="en-US" id="id_379234_522156_3_1">Cash Flow Hedge Gain (Loss) Reclassified to Employee Benefits, Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CashFlowHedgeGainLossReclassifiedToEmployeeBenefitsNet_lbl" xml:lang="en-US" id="id_379234_522156_1_1">Cash Flow Hedge Gain Loss Reclassified To Employee Benefits Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CashFlowHedgeGainLossReclassifiedToEmployeeBenefitsNet_lbl" xml:lang="en-US" id="id_379234_522156_2_1">Employee Benefits</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_CashFlowHedgeGainLossReclassifiedToEquipmentAndSoftwareExpenseNet" xlink:label="ntrs_CashFlowHedgeGainLossReclassifiedToEquipmentAndSoftwareExpenseNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CashFlowHedgeGainLossReclassifiedToEquipmentAndSoftwareExpenseNet_lbl" xml:lang="en-US" id="id_379234_522157_3_1">Cash Flow Hedge Gain (Loss) Reclassified to Equipment and Software Expense, Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CashFlowHedgeGainLossReclassifiedToEquipmentAndSoftwareExpenseNet_lbl" xml:lang="en-US" id="id_379234_522157_1_1">Cash Flow Hedge Gain Loss Reclassified To Equipment And Software Expense Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CashFlowHedgeGainLossReclassifiedToEquipmentAndSoftwareExpenseNet_lbl" xml:lang="en-US" id="id_379234_522157_2_1">Equipment and Software</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CashFlowHedgeGainLossReclassifiedToEquipmentAndSoftwareExpenseNet" xlink:to="ntrs_CashFlowHedgeGainLossReclassifiedToEquipmentAndSoftwareExpenseNet_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CashFlowHedgeGainLossReclassifiedToInterestExpenseNet" xlink:label="us-gaap_CashFlowHedgeGainLossReclassifiedToInterestExpenseNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashFlowHedgeGainLossReclassifiedToInterestExpenseNet_lbl" xml:lang="en-US" id="id_379234_514762_1_1">Cash Flow Hedge Gain Loss Reclassified To Interest Expense Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CashFlowHedgeGainLossReclassifiedToInterestExpenseNet_lbl" xml:lang="en-US" id="id_379234_514762_2_1">Interest Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashFlowHedgeGainLossReclassifiedToInterestExpenseNet" xlink:to="us-gaap_CashFlowHedgeGainLossReclassifiedToInterestExpenseNet_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_CashFlowHedgeGainLossReclassifiedToInterestIncomeNet" xlink:label="ntrs_CashFlowHedgeGainLossReclassifiedToInterestIncomeNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CashFlowHedgeGainLossReclassifiedToInterestIncomeNet_lbl" xml:lang="en-US" id="id_379234_522154_3_1">Cash Flow Hedge Gain (Loss) Reclassified to Interest Income, Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CashFlowHedgeGainLossReclassifiedToInterestIncomeNet_lbl" xml:lang="en-US" id="id_379234_522154_1_1">Cash Flow Hedge Gain Loss Reclassified To Interest Income Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CashFlowHedgeGainLossReclassifiedToInterestIncomeNet_lbl" xml:lang="en-US" id="id_379234_522154_2_1">Interest Income</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_CashFlowHedgeGainLossReclassifiedToOccupancyExpenseNet" xlink:label="ntrs_CashFlowHedgeGainLossReclassifiedToOccupancyExpenseNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CashFlowHedgeGainLossReclassifiedToOccupancyExpenseNet_lbl" xml:lang="en-US" id="id_379234_522158_3_1">Cash Flow Hedge Gain (Loss) Reclassified to Occupancy Expense, Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CashFlowHedgeGainLossReclassifiedToOccupancyExpenseNet_lbl" xml:lang="en-US" id="id_379234_522158_1_1">Cash Flow Hedge Gain Loss Reclassified To Occupancy Expense Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CashFlowHedgeGainLossReclassifiedToOccupancyExpenseNet_lbl" xml:lang="en-US" id="id_379234_522158_2_1">Occupancy Expense</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CashFlowHedgeGainLossReclassifiedToOtherExpenseNet" xlink:label="us-gaap_CashFlowHedgeGainLossReclassifiedToOtherExpenseNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashFlowHedgeGainLossReclassifiedToOtherExpenseNet_lbl" xml:lang="en-US" id="id_379234_501006_1_1">Cash Flow Hedge Gain Loss Reclassified To Other Expense Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CashFlowHedgeGainLossReclassifiedToOtherExpenseNet_lbl" xml:lang="en-US" id="id_379234_501006_2_1">Other Operating Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashFlowHedgeGainLossReclassifiedToOtherExpenseNet" xlink:to="us-gaap_CashFlowHedgeGainLossReclassifiedToOtherExpenseNet_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CashFlowHedgeGainLossReclassifiedToOtherIncomeNet" xlink:label="us-gaap_CashFlowHedgeGainLossReclassifiedToOtherIncomeNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashFlowHedgeGainLossReclassifiedToOtherIncomeNet_lbl" xml:lang="en-US" id="id_379234_506026_1_1">Cash Flow Hedge Gain Loss Reclassified To Other Income Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CashFlowHedgeGainLossReclassifiedToOtherIncomeNet_lbl" xml:lang="en-US" id="id_379234_506026_2_1">Other Operating Income</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CashFlowHedgeGainLossReclassifiedToRevenueNet" xlink:label="us-gaap_CashFlowHedgeGainLossReclassifiedToRevenueNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashFlowHedgeGainLossReclassifiedToRevenueNet_lbl" xml:lang="en-US" id="id_379234_500570_1_1">Cash Flow Hedge Gain Loss Reclassified To Revenue Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CashFlowHedgeGainLossReclassifiedToRevenueNet_lbl" xml:lang="en-US" id="id_379234_500570_2_1">Net Gain/(Loss) Reclassified from AOCI to Earnings Trust, Investment and Other Servicing Fees</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashFlowHedgingMember" xlink:to="us-gaap_CashFlowHedgingMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_CategoriesOfLoanAndCommitmentsAxis" xlink:label="ntrs_CategoriesOfLoanAndCommitmentsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CategoriesOfLoanAndCommitmentsAxis_lbl" xml:lang="en-US" id="id_379234_530572_3_1">Categories Of Loan And Commitments [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CategoriesOfLoanAndCommitmentsAxis_lbl" xml:lang="en-US" id="id_379234_530572_1_1">Categories Of Loan And Commitments [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CategoriesOfLoanAndCommitmentsAxis_lbl" xml:lang="en-US" id="id_379234_530572_2_1">Categories Of Loan And Commitments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CategoriesOfLoanAndCommitmentsAxis" xlink:to="ntrs_CategoriesOfLoanAndCommitmentsAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_CategoriesOfLoanAndCommitmentsDomain" xlink:label="ntrs_CategoriesOfLoanAndCommitmentsDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CategoriesOfLoanAndCommitmentsDomain_lbl" xml:lang="en-US" id="id_379234_533873_3_1">Categories Of Loan And Commitments [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CategoriesOfLoanAndCommitmentsDomain_lbl" xml:lang="en-US" id="id_379234_533873_1_1">Categories Of Loan And Commitments [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CategoriesOfLoanAndCommitmentsDomain_lbl" xml:lang="en-US" id="id_379234_533873_2_1">Categories Of Loan And Commitments [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CategoriesOfLoanAndCommitmentsDomain" xlink:to="ntrs_CategoriesOfLoanAndCommitmentsDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CertificatesOfDepositMember" xlink:label="us-gaap_CertificatesOfDepositMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CertificatesOfDepositMember_lbl" xml:lang="en-US" id="id_379234_501363_1_1">Certificates Of Deposit [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CertificatesOfDepositMember_lbl" xml:lang="en-US" id="id_379234_501363_2_1">Certificates of Deposit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CertificatesOfDepositMember" xlink:to="us-gaap_CertificatesOfDepositMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge" xlink:label="us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge_lbl" xml:lang="en-US" id="id_379234_498675_1_1">Change In Unrealized Gain Loss On Hedged Item In Fair Value Hedge</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge_lbl" xml:lang="en-US" id="id_379234_498675_2_1">Changes recorded in the fair value of the hedged items in a fair value hedge</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge" xlink:to="us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ClassOfFinancingReceivableMember" xlink:label="us-gaap_ClassOfFinancingReceivableMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ClassOfFinancingReceivableMember_lbl" xml:lang="en-US" id="id_379234_511871_1_1">Class Of Financing Receivable [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ClassOfFinancingReceivableMember_lbl" xml:lang="en-US" id="id_379234_511871_2_1">Class of Financing Receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfFinancingReceivableMember" xlink:to="us-gaap_ClassOfFinancingReceivableMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:label="us-gaap_ClassOfStockDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ClassOfStockDomain_lbl" xml:lang="en-US" id="id_379234_508615_1_1">Class Of Stock [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ClassOfStockDomain_lbl" xml:lang="en-US" id="id_379234_508615_2_1">Class of Stock [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfStockDomain" xlink:to="us-gaap_ClassOfStockDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_ClientRelatedAndTradingMember" xlink:label="ntrs_ClientRelatedAndTradingMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_ClientRelatedAndTradingMember_lbl" xml:lang="en-US" id="id_379234_532652_3_1">Client Related And Trading [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_ClientRelatedAndTradingMember_lbl" xml:lang="en-US" id="id_379234_532652_1_1">Client Related And Trading [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_ClientRelatedAndTradingMember_lbl" xml:lang="en-US" id="id_379234_532652_2_1">Client Related and Trading</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_ClientRelatedAndTradingMember" xlink:to="ntrs_ClientRelatedAndTradingMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_ClientSecuritySettlementReceivables" xlink:label="ntrs_ClientSecuritySettlementReceivables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_ClientSecuritySettlementReceivables_lbl" xml:lang="en-US" id="id_379234_519794_3_1">This represents other collection items presented on behalf of custody clients.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_ClientSecuritySettlementReceivables_lbl" xml:lang="en-US" id="id_379234_519794_1_1">Client Security Settlement Receivables</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_ClientSecuritySettlementReceivables_lbl" xml:lang="en-US" id="id_379234_519794_2_1">Client Security Settlement Receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_ClientSecuritySettlementReceivables" xlink:to="ntrs_ClientSecuritySettlementReceivables_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CollateralAlreadyPostedAggregateFairValue" xlink:label="us-gaap_CollateralAlreadyPostedAggregateFairValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CollateralAlreadyPostedAggregateFairValue_lbl" xml:lang="en-US" id="id_379234_509358_1_1">Collateral Already Posted Aggregate Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CollateralAlreadyPostedAggregateFairValue_lbl" xml:lang="en-US" id="id_379234_509358_2_1">Collateral deposited with derivative counterparties for derivatives instruments with credit-risk-related contingent features that are in a liability position</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CollateralAlreadyPostedAggregateFairValue" xlink:to="us-gaap_CollateralAlreadyPostedAggregateFairValue_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_CollateralRequirementsMember" xlink:label="ntrs_CollateralRequirementsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CollateralRequirementsMember_lbl" xml:lang="en-US" id="id_379234_531250_3_1">Collateral Requirements [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CollateralRequirementsMember_lbl" xml:lang="en-US" id="id_379234_531250_1_1">Collateral Requirements [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CollateralRequirementsMember_lbl" xml:lang="en-US" id="id_379234_531250_2_1">Collateral Requirements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CollateralRequirementsMember" xlink:to="ntrs_CollateralRequirementsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CollateralSecuritiesRepledgedDeliveredOrUsed" xlink:label="us-gaap_CollateralSecuritiesRepledgedDeliveredOrUsed"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CollateralSecuritiesRepledgedDeliveredOrUsed_lbl" xml:lang="en-US" id="id_379234_513091_1_1">Collateral Securities Repledged Delivered Or Used</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CollateralSecuritiesRepledgedDeliveredOrUsed_lbl" xml:lang="en-US" id="id_379234_513091_2_1">Amount of securities repledged or sold collateral</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CollateralSecuritiesRepledgedDeliveredOrUsed" xlink:to="us-gaap_CollateralSecuritiesRepledgedDeliveredOrUsed_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_CommercialAndInstitutionalLoansMember" xlink:label="ntrs_CommercialAndInstitutionalLoansMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CommercialAndInstitutionalLoansMember_lbl" xml:lang="en-US" id="id_379234_532829_3_1">Commercial And Institutional Loans [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CommercialAndInstitutionalLoansMember_lbl" xml:lang="en-US" id="id_379234_532829_1_1">Commercial And Institutional Loans [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CommercialAndInstitutionalLoansMember_lbl" xml:lang="en-US" id="id_379234_532829_2_1">Commercial and Institutional</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CommercialAndInstitutionalLoansMember" xlink:to="ntrs_CommercialAndInstitutionalLoansMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommercialLoanMember" xlink:label="us-gaap_CommercialLoanMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommercialLoanMember_lbl" xml:lang="en-US" id="id_379234_501321_1_1">Commercial Loan [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommercialLoanMember_lbl" xml:lang="en-US" id="id_379234_501321_2_1">Commercial Loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommercialLoanMember" xlink:to="us-gaap_CommercialLoanMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_CommercialLoansAndLoanCommitmentsMember" xlink:label="ntrs_CommercialLoansAndLoanCommitmentsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CommercialLoansAndLoanCommitmentsMember_lbl" xml:lang="en-US" id="id_379234_531560_3_1">Commercial Loans and Loan Commitments [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CommercialLoansAndLoanCommitmentsMember_lbl" xml:lang="en-US" id="id_379234_531560_1_1">Commercial Loans And Loan Commitments [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CommercialLoansAndLoanCommitmentsMember_lbl" xml:lang="en-US" id="id_379234_531560_2_1">Commercial Loans and Loan Commitments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CommercialLoansAndLoanCommitmentsMember" xlink:to="ntrs_CommercialLoansAndLoanCommitmentsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_CommercialOtherFinancingReceivableMember" xlink:label="ntrs_CommercialOtherFinancingReceivableMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CommercialOtherFinancingReceivableMember_lbl" xml:lang="en-US" id="id_379234_533210_3_1">Commercial Other Financing Receivable [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CommercialOtherFinancingReceivableMember_lbl" xml:lang="en-US" id="id_379234_533210_1_1">Commercial Other Financing Receivable [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CommercialOtherFinancingReceivableMember_lbl" xml:lang="en-US" id="id_379234_533210_2_1">Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CommercialOtherFinancingReceivableMember" xlink:to="ntrs_CommercialOtherFinancingReceivableMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommercialPortfolioSegmentMember" xlink:label="us-gaap_CommercialPortfolioSegmentMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommercialPortfolioSegmentMember_lbl" xml:lang="en-US" id="id_379234_500632_1_1">Commercial Portfolio Segment [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommercialPortfolioSegmentMember_lbl" xml:lang="en-US" id="id_379234_500632_2_1">Commercial</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommercialPortfolioSegmentMember" xlink:to="us-gaap_CommercialPortfolioSegmentMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommercialRealEstateConstructionFinancingReceivableMember" xlink:label="us-gaap_CommercialRealEstateConstructionFinancingReceivableMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommercialRealEstateConstructionFinancingReceivableMember_lbl" xml:lang="en-US" id="id_379234_514560_1_1">Commercial Real Estate Construction Financing Receivable [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommercialRealEstateConstructionFinancingReceivableMember_lbl" xml:lang="en-US" id="id_379234_514560_2_1">Commercial Real Estate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommercialRealEstateConstructionFinancingReceivableMember" xlink:to="us-gaap_CommercialRealEstateConstructionFinancingReceivableMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommercialRealEstatePortfolioSegmentMember" xlink:label="us-gaap_CommercialRealEstatePortfolioSegmentMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommercialRealEstatePortfolioSegmentMember_lbl" xml:lang="en-US" id="id_379234_500174_1_1">Commercial Real Estate Portfolio Segment [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommercialRealEstatePortfolioSegmentMember_lbl" xml:lang="en-US" id="id_379234_500174_2_1">Commercial Real Estate Portfolio Segment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommercialRealEstatePortfolioSegmentMember" xlink:to="us-gaap_CommercialRealEstatePortfolioSegmentMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_CommitmentsAndContingenciesDisclosureLineItems" xlink:label="ntrs_CommitmentsAndContingenciesDisclosureLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CommitmentsAndContingenciesDisclosureLineItems_lbl" xml:lang="en-US" id="id_379234_518744_3_1">Commitments and Contingencies Disclosure [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CommitmentsAndContingenciesDisclosureLineItems_lbl" xml:lang="en-US" id="id_379234_518744_1_1">Commitments And Contingencies Disclosure [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CommitmentsAndContingenciesDisclosureLineItems_lbl" xml:lang="en-US" id="id_379234_518744_2_1">Commitments and Contingencies Disclosure [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CommitmentsAndContingenciesDisclosureLineItems" xlink:to="ntrs_CommitmentsAndContingenciesDisclosureLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_CommitmentsAndContingenciesDisclosureTable" xlink:label="ntrs_CommitmentsAndContingenciesDisclosureTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CommitmentsAndContingenciesDisclosureTable_lbl" xml:lang="en-US" id="id_379234_541670_3_1">Commitments and Contingencies Disclosure [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CommitmentsAndContingenciesDisclosureTable_lbl" xml:lang="en-US" id="id_379234_541670_1_1">Commitments And Contingencies Disclosure [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CommitmentsAndContingenciesDisclosureTable_lbl" xml:lang="en-US" id="id_379234_541670_2_1">Commitments and Contingencies Disclosure [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CommitmentsAndContingenciesDisclosureTable" xlink:to="ntrs_CommitmentsAndContingenciesDisclosureTable_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommitmentsFairValueDisclosure" xlink:label="us-gaap_CommitmentsFairValueDisclosure"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommitmentsFairValueDisclosure_lbl" xml:lang="en-US" id="id_379234_511663_1_1">Commitments Fair Value Disclosure</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommitmentsFairValueDisclosure_lbl" xml:lang="en-US" id="id_379234_511663_2_1">Loan Commitments</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockMember" xlink:label="us-gaap_CommonStockMember"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CommonStockValue" xlink:label="us-gaap_CommonStockValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockValue_lbl" xml:lang="en-US" id="id_379234_512456_1_1">Common Stock Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockValue_lbl" xml:lang="en-US" id="id_379234_512456_2_1">Common Stock, $1.66 2/3 Par Value; Authorized 560,000,000 shares; Outstanding shares of 239,799,129 and 241,008,509</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_CommunityReinvestmentActMember" xlink:label="ntrs_CommunityReinvestmentActMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CommunityReinvestmentActMember_lbl" xml:lang="en-US" id="id_379234_516525_3_1">Community Reinvestment Act CRA [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CommunityReinvestmentActMember_lbl" xml:lang="en-US" id="id_379234_516525_1_1">Community Reinvestment Act [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CommunityReinvestmentActMember_lbl" xml:lang="en-US" id="id_379234_516525_2_1">Community Reinvestment Act CRA</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CommunityReinvestmentActMember" xlink:to="ntrs_CommunityReinvestmentActMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_ComponentsofAccumulatedOtherComprehensiveIncomeAxis" xlink:label="ntrs_ComponentsofAccumulatedOtherComprehensiveIncomeAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_ComponentsofAccumulatedOtherComprehensiveIncomeAxis_lbl" xml:lang="en-US" id="id_379234_530585_3_1">Components of Accumulated Other Comprehensive Income [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_ComponentsofAccumulatedOtherComprehensiveIncomeAxis_lbl" xml:lang="en-US" id="id_379234_530585_1_1">Componentsof Accumulated Other Comprehensive Income [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_ComponentsofAccumulatedOtherComprehensiveIncomeAxis_lbl" xml:lang="en-US" id="id_379234_530585_2_1">Components of Accumulated Other Comprehensive Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_ComponentsofAccumulatedOtherComprehensiveIncomeAxis" xlink:to="ntrs_ComponentsofAccumulatedOtherComprehensiveIncomeAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_ComponentsofAccumulatedOtherComprehensiveIncomeDomain" xlink:label="ntrs_ComponentsofAccumulatedOtherComprehensiveIncomeDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_ComponentsofAccumulatedOtherComprehensiveIncomeDomain_lbl" xml:lang="en-US" id="id_379234_533879_3_1">Components of Accumulated Other Comprehensive Income [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_ComponentsofAccumulatedOtherComprehensiveIncomeDomain_lbl" xml:lang="en-US" id="id_379234_533879_1_1">Componentsof Accumulated Other Comprehensive Income [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_ComponentsofAccumulatedOtherComprehensiveIncomeDomain_lbl" xml:lang="en-US" id="id_379234_533879_2_1">Components of Accumulated Other Comprehensive Income [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_ComponentsofAccumulatedOtherComprehensiveIncomeDomain" xlink:to="ntrs_ComponentsofAccumulatedOtherComprehensiveIncomeDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax" xlink:label="us-gaap_ComprehensiveIncomeNetOfTax"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ComprehensiveIncomeNetOfTax_lbl" xml:lang="en-US" id="id_379234_500373_1_1">Comprehensive Income Net Of Tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_ComprehensiveIncomeNetOfTax_lbl" xml:lang="en-US" id="id_379234_500373_6_1">Comprehensive Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ComprehensiveIncomeNetOfTax" xlink:to="us-gaap_ComprehensiveIncomeNetOfTax_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ComprehensiveIncomeNoteTextBlock" xlink:label="us-gaap_ComprehensiveIncomeNoteTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ComprehensiveIncomeNoteTextBlock_lbl" xml:lang="en-US" id="id_379234_506810_1_1">Comprehensive Income Note [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ComprehensiveIncomeNoteTextBlock_lbl" xml:lang="en-US" id="id_379234_506810_2_1">Accumulated Other Comprehensive Income (Loss)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ComprehensiveIncomeNoteTextBlock" xlink:to="us-gaap_ComprehensiveIncomeNoteTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ComputerSoftwareIntangibleAssetMember" xlink:label="us-gaap_ComputerSoftwareIntangibleAssetMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ComputerSoftwareIntangibleAssetMember_lbl" xml:lang="en-US" id="id_379234_511509_1_1">Computer Software Intangible Asset [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ComputerSoftwareIntangibleAssetMember_lbl" xml:lang="en-US" id="id_379234_511509_2_1">Computer Software</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ComputerSoftwareIntangibleAssetMember" xlink:to="us-gaap_ComputerSoftwareIntangibleAssetMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_ContingentConsiderationMember" xlink:label="ntrs_ContingentConsiderationMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_ContingentConsiderationMember_lbl" xml:lang="en-US" id="id_379234_531551_3_1">Contingent Consideration [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_ContingentConsiderationMember_lbl" xml:lang="en-US" id="id_379234_531551_1_1">Contingent Consideration [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_ContingentConsiderationMember_lbl" xml:lang="en-US" id="id_379234_531551_2_1">Contingent Consideration</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_ContingentConsiderationMember" xlink:to="ntrs_ContingentConsiderationMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_CorporateAndInstitutionalServiceMember" xlink:label="ntrs_CorporateAndInstitutionalServiceMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CorporateAndInstitutionalServiceMember_lbl" xml:lang="en-US" id="id_379234_532619_3_1">Corporate and Institutional Service [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CorporateAndInstitutionalServiceMember_lbl" xml:lang="en-US" id="id_379234_532619_1_1">Corporate And Institutional Service [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CorporateAndInstitutionalServiceMember_lbl" xml:lang="en-US" id="id_379234_532619_2_1">Corporate and Institutional Services</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CorporateAndInstitutionalServiceMember" xlink:to="ntrs_CorporateAndInstitutionalServiceMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CorporateDebtSecuritiesMember" xlink:label="us-gaap_CorporateDebtSecuritiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CorporateDebtSecuritiesMember_lbl" xml:lang="en-US" id="id_379234_504111_1_1">Corporate Debt Securities [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CorporateDebtSecuritiesMember_lbl" xml:lang="en-US" id="id_379234_504111_2_1">Corporate Debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CorporateDebtSecuritiesMember" xlink:to="us-gaap_CorporateDebtSecuritiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_CostAndFairValueOfMarketableSecuritiesTextBlock" xlink:label="ntrs_CostAndFairValueOfMarketableSecuritiesTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CostAndFairValueOfMarketableSecuritiesTextBlock_lbl" xml:lang="en-US" id="id_379234_538524_3_1">Cost and Fair Value of Marketable Securities [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CostAndFairValueOfMarketableSecuritiesTextBlock_lbl" xml:lang="en-US" id="id_379234_538524_1_1">Cost And Fair Value Of Marketable Securities [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CostAndFairValueOfMarketableSecuritiesTextBlock_lbl" xml:lang="en-US" id="id_379234_538524_2_1">Amortized Cost to Fair Values of Securities Available for Sale</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CostAndFairValueOfMarketableSecuritiesTextBlock" xlink:to="ntrs_CostAndFairValueOfMarketableSecuritiesTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CostMethodInvestments" xlink:label="us-gaap_CostMethodInvestments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CostMethodInvestments_lbl" xml:lang="en-US" id="id_379234_509135_1_1">Cost Method Investments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CostMethodInvestments_lbl" xml:lang="en-US" id="id_379234_509135_2_1">Remaining Visa shares held by Northern Trust, original cost basis</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostMethodInvestments" xlink:to="us-gaap_CostMethodInvestments_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_CoveredBondsMember" xlink:label="ntrs_CoveredBondsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CoveredBondsMember_lbl" xml:lang="en-US" id="id_379234_548341_3_1">Covered Bonds [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CoveredBondsMember_lbl" xml:lang="en-US" id="id_379234_548341_1_1">Covered Bonds [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CoveredBondsMember_lbl" xml:lang="en-US" id="id_379234_548341_2_1">Covered Bonds</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CoveredBondsMember" xlink:to="ntrs_CoveredBondsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_CreditDefaultSwapMember" xlink:label="us-gaap_CreditDefaultSwapMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CreditDefaultSwapMember_lbl" xml:lang="en-US" id="id_379234_511600_1_1">Credit Default Swap [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CreditDefaultSwapMember_lbl" xml:lang="en-US" id="id_379234_511600_2_1">Credit Default Swap Contracts</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CreditDefaultSwapMember" xlink:to="us-gaap_CreditDefaultSwapMember_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CreditLossLiability_lbl" xml:lang="en-US" id="id_379234_523891_3_1">Exposure to indemnifications on credit losses from securities custody activities as of balance sheet date.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CreditLossLiability_lbl" xml:lang="en-US" id="id_379234_523891_1_1">Credit Loss Liability</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CreditLossLiability_lbl" xml:lang="en-US" id="id_379234_523891_2_1">Credit loss liability</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CreditLossLiability" xlink:to="ntrs_CreditLossLiability_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_CreditRiskRelatedContingentFeaturesCollateralThreshold" xlink:label="ntrs_CreditRiskRelatedContingentFeaturesCollateralThreshold"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CreditRiskRelatedContingentFeaturesCollateralThreshold_lbl" xml:lang="en-US" id="id_379234_522390_3_1">Net maximum amount of termination payments that could have been required for derivative instruments with credit risk-related contingent features that were in a liability position.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CreditRiskRelatedContingentFeaturesCollateralThreshold_lbl" xml:lang="en-US" id="id_379234_522390_1_1">Credit Risk Related Contingent Features Collateral Threshold</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CreditRiskRelatedContingentFeaturesCollateralThreshold_lbl" xml:lang="en-US" id="id_379234_522390_2_1">Termination payments that could have been required for derivative instruments with credit-risk-related contingent features</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_CumulativeOtherThanTemporaryImpairmentForDebtSecuritiesTextBlock" xlink:label="ntrs_CumulativeOtherThanTemporaryImpairmentForDebtSecuritiesTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CumulativeOtherThanTemporaryImpairmentForDebtSecuritiesTextBlock_lbl" xml:lang="en-US" id="id_379234_538734_3_1">Available For Sale Debt Securities Held for Which Other-Than-Temporary-Impairment Loss Had been Recognized In the Year or Previously.</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CumulativeOtherThanTemporaryImpairmentForDebtSecuritiesTextBlock" xlink:to="ntrs_CumulativeOtherThanTemporaryImpairmentForDebtSecuritiesTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_DebtIssuanceCostsLineItems_lbl" xml:lang="en-US" id="id_379234_558572_3_1">Debt Issuance Costs [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_DebtIssuanceCostsLineItems_lbl" xml:lang="en-US" id="id_379234_558572_1_1">Debt Issuance Costs [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_DebtIssuanceCostsLineItems_lbl" xml:lang="en-US" id="id_379234_558572_2_1">Debt Issuance Costs [Line Items]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_DebtIssuanceCostsTable_lbl" xml:lang="en-US" id="id_379234_561494_3_1">Debt Issuance Costs [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_DebtIssuanceCostsTable_lbl" xml:lang="en-US" id="id_379234_561494_1_1">Debt Issuance Costs [Table]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_EquipmentAndSoftwareExpense_lbl" xml:lang="en-US" id="id_379234_519803_3_1">This element represents furniture and equipment expense including depreciation, repairs, rentals, and service contract costs. This item also includes equipment purchases which do not qualify for capitalization in accordance with accounting policy. In addition, this item includes the amount charged to expense for amortization of capitalized computer software costs as well as amounts incurred for software development activities that were not capitalized.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_FairValueAssetsAndLiabilitiesComponentDomain_lbl" xml:lang="en-US" id="id_379234_530756_3_1">Fair Value, Assets and Liabilities Component Domain</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_FairValueAssetsAndLiabilitiesComponentDomain_lbl" xml:lang="en-US" id="id_379234_530756_1_1">Fair Value Assets And Liabilities Component [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_FairValueAssetsAndLiabilitiesComponentDomain_lbl" xml:lang="en-US" id="id_379234_530756_2_1">Fair Value, Assets and Liabilities Component Domain</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_FinancingReceivableNinetyDaysAndGreaterPastDueMember" xlink:label="ntrs_FinancingReceivableNinetyDaysAndGreaterPastDueMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_FinancingReceivableNinetyDaysAndGreaterPastDueMember_lbl" xml:lang="en-US" id="id_379234_515995_3_1">Financing Receivable, 90 Days and Greater Past Due [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_FinancingReceivableNinetyDaysAndGreaterPastDueMember_lbl" xml:lang="en-US" id="id_379234_515995_1_1">Financing Receivable Ninety Days And Greater Past Due [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_FinancingReceivableNinetyDaysAndGreaterPastDueMember_lbl" xml:lang="en-US" id="id_379234_515995_2_1">Financing Receivable, 90 Days and Greater Past Due</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_FinancingReceivableNinetyDaysAndGreaterPastDueMember" xlink:to="ntrs_FinancingReceivableNinetyDaysAndGreaterPastDueMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FinancingReceivableRecordedInvestment30To59DaysPastDue" xlink:label="us-gaap_FinancingReceivableRecordedInvestment30To59DaysPastDue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivableRecordedInvestment30To59DaysPastDue_lbl" xml:lang="en-US" id="id_379234_502357_1_1">Financing Receivable Recorded Investment 30 To 59 Days Past Due</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancingReceivableRecordedInvestment30To59DaysPastDue_lbl" xml:lang="en-US" id="id_379234_502357_2_1">30-59 Days Past Due</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivableRecordedInvestment30To59DaysPastDue" xlink:to="us-gaap_FinancingReceivableRecordedInvestment30To59DaysPastDue_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FinancingReceivableRecordedInvestment60To89DaysPastDue" xlink:label="us-gaap_FinancingReceivableRecordedInvestment60To89DaysPastDue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivableRecordedInvestment60To89DaysPastDue_lbl" xml:lang="en-US" id="id_379234_508250_1_1">Financing Receivable Recorded Investment 60 To 89 Days Past Due</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancingReceivableRecordedInvestment60To89DaysPastDue_lbl" xml:lang="en-US" id="id_379234_508250_2_1">60-89 Days Past Due</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivableRecordedInvestment60To89DaysPastDue" xlink:to="us-gaap_FinancingReceivableRecordedInvestment60To89DaysPastDue_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:label="us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis_lbl" xml:lang="en-US" id="id_379234_505580_1_1">Financing Receivable Recorded Investment By Class Of Financing Receivable [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis_lbl" xml:lang="en-US" id="id_379234_505580_2_1">Impaired Financing Receivable with No Related Allowance (Axis)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:to="us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:label="us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain_lbl" xml:lang="en-US" id="id_379234_499644_1_1">Financing Receivable Recorded Investment Class Of Financing Receivable [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain_lbl" xml:lang="en-US" id="id_379234_499644_2_1">Class of Financing Receivable [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:to="us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FinancingReceivableRecordedInvestmentCurrent" xlink:label="us-gaap_FinancingReceivableRecordedInvestmentCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivableRecordedInvestmentCurrent_lbl" xml:lang="en-US" id="id_379234_506866_1_1">Financing Receivable Recorded Investment Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancingReceivableRecordedInvestmentCurrent_lbl" xml:lang="en-US" id="id_379234_506866_2_1">Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivableRecordedInvestmentCurrent" xlink:to="us-gaap_FinancingReceivableRecordedInvestmentCurrent_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FinancingReceivableRecordedInvestmentEqualToGreaterThan90DaysPastDue" xlink:label="us-gaap_FinancingReceivableRecordedInvestmentEqualToGreaterThan90DaysPastDue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivableRecordedInvestmentEqualToGreaterThan90DaysPastDue_lbl" xml:lang="en-US" id="id_379234_508577_1_1">Financing Receivable Recorded Investment Equal To Greater Than 90 Days Past Due</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancingReceivableRecordedInvestmentEqualToGreaterThan90DaysPastDue_lbl" xml:lang="en-US" id="id_379234_508577_2_1">90 Days or More Past Due</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivableRecordedInvestmentEqualToGreaterThan90DaysPastDue" xlink:to="us-gaap_FinancingReceivableRecordedInvestmentEqualToGreaterThan90DaysPastDue_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FinancingReceivableRecordedInvestmentLineItems" xlink:label="us-gaap_FinancingReceivableRecordedInvestmentLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivableRecordedInvestmentLineItems_lbl" xml:lang="en-US" id="id_379234_500934_1_1">Financing Receivable Recorded Investment [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancingReceivableRecordedInvestmentLineItems_lbl" xml:lang="en-US" id="id_379234_500934_2_1">Financing Receivable, Recorded Investment [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivableRecordedInvestmentLineItems" xlink:to="us-gaap_FinancingReceivableRecordedInvestmentLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_FinancingReceivableSixtyToEightyNineDaysPastDueMember" xlink:label="ntrs_FinancingReceivableSixtyToEightyNineDaysPastDueMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_FinancingReceivableSixtyToEightyNineDaysPastDueMember_lbl" xml:lang="en-US" id="id_379234_516430_3_1">Financing Receivable, 60 to 89 Days Past Due [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_FinancingReceivableSixtyToEightyNineDaysPastDueMember_lbl" xml:lang="en-US" id="id_379234_516430_1_1">Financing Receivable Sixty To Eighty Nine Days Past Due [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_FinancingReceivableSixtyToEightyNineDaysPastDueMember_lbl" xml:lang="en-US" id="id_379234_516430_2_1">Financing Receivable, 60 to 89 Days Past Due</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_FinancingReceivableSixtyToEightyNineDaysPastDueMember" xlink:to="ntrs_FinancingReceivableSixtyToEightyNineDaysPastDueMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FinancingReceivablesTextBlock" xlink:label="us-gaap_FinancingReceivablesTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivablesTextBlock_lbl" xml:lang="en-US" id="id_379234_500519_1_1">Financing Receivables [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancingReceivablesTextBlock_lbl" xml:lang="en-US" id="id_379234_500519_2_1">Loans and Leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivablesTextBlock" xlink:to="us-gaap_FinancingReceivablesTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_FinancingReceivableThirtyToFiftyNineDaysPastDueMember" xlink:label="ntrs_FinancingReceivableThirtyToFiftyNineDaysPastDueMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_FinancingReceivableThirtyToFiftyNineDaysPastDueMember_lbl" xml:lang="en-US" id="id_379234_516338_3_1">Financing Receivable, 30 to 59 Days Past Due [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_FinancingReceivableThirtyToFiftyNineDaysPastDueMember_lbl" xml:lang="en-US" id="id_379234_516338_1_1">Financing Receivable Thirty To Fifty Nine Days Past Due [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_FinancingReceivableThirtyToFiftyNineDaysPastDueMember_lbl" xml:lang="en-US" id="id_379234_516338_2_1">Financing Receivable, 30 to 59 Days Past Due</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_FinancingReceivableThirtyToFiftyNineDaysPastDueMember" xlink:to="ntrs_FinancingReceivableThirtyToFiftyNineDaysPastDueMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FinancingReceivableTroubledDebtRestructuringAxis" xlink:label="us-gaap_FinancingReceivableTroubledDebtRestructuringAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivableTroubledDebtRestructuringAxis_lbl" xml:lang="en-US" id="id_379234_514331_1_1">Financing Receivable Troubled Debt Restructuring [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancingReceivableTroubledDebtRestructuringAxis_lbl" xml:lang="en-US" id="id_379234_514331_2_1">Financing Receivable, Troubled Debt Restructuring</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivableTroubledDebtRestructuringAxis" xlink:to="us-gaap_FinancingReceivableTroubledDebtRestructuringAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FinancingReceivableTroubledDebtRestructuringDomain" xlink:label="us-gaap_FinancingReceivableTroubledDebtRestructuringDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivableTroubledDebtRestructuringDomain_lbl" xml:lang="en-US" id="id_379234_506039_1_1">Financing Receivable Troubled Debt Restructuring [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancingReceivableTroubledDebtRestructuringDomain_lbl" xml:lang="en-US" id="id_379234_506039_2_1">Financing Receivable, Troubled Debt Restructuring [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivableTroubledDebtRestructuringDomain" xlink:to="us-gaap_FinancingReceivableTroubledDebtRestructuringDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_FinancingRelatedCharges" xlink:label="ntrs_FinancingRelatedCharges"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_FinancingRelatedCharges_lbl" xml:lang="en-US" id="id_379234_526411_3_1">Charge incurred in connection with purchase of securities from funds.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_FinancingRelatedCharges_lbl" xml:lang="en-US" id="id_379234_526411_1_1">Financing Related Charges</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_FinancingRelatedCharges_lbl" xml:lang="en-US" id="id_379234_526411_2_1">Pre-tax charge</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_FinancingRelatedCharges" xlink:to="ntrs_FinancingRelatedCharges_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_lbl" xml:lang="en-US" id="id_379234_513029_1_1">Finite Lived Intangible Assets Accumulated Amortization</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_lbl" xml:lang="en-US" id="id_379234_513029_2_1">Less: Accumulated Amortization</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_lbl" xml:lang="en-US" id="id_379234_506324_1_1">Finite Lived Intangible Assets Amortization Expense Next Twelve Months</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_lbl" xml:lang="en-US" id="id_379234_506324_2_1">Estimated future amortization expense for 2013</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_lbl" xml:lang="en-US" id="id_379234_513611_1_1">Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_lbl" xml:lang="en-US" id="id_379234_513611_2_1">Estimated future amortization expense for 2012</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_lbl" xml:lang="en-US" id="id_379234_511582_1_1">Finite Lived Intangible Assets Amortization Expense Year Four</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_lbl" xml:lang="en-US" id="id_379234_511582_2_1">Estimated future amortization expense for 2016</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_lbl" xml:lang="en-US" id="id_379234_500492_1_1">Finite Lived Intangible Assets Amortization Expense Year Three</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_lbl" xml:lang="en-US" id="id_379234_500492_2_1">Estimated future amortization expense for 2015</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_ForecastedForeignDenominatedTransactionsMember_lbl" xml:lang="en-US" id="id_379234_532638_1_1">Forecasted Foreign Denominated Transactions [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_ForecastedForeignDenominatedTransactionsMember_lbl" xml:lang="en-US" id="id_379234_532638_2_1">Forecasted Foreign Currency Denominated Transactions</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_ForecastedTransactionsDomain_lbl" xml:lang="en-US" id="id_379234_533875_1_1">Forecasted Transactions [Domain]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_GoodwillAndIntangibleAssetsDisclosureLineItems_lbl" xml:lang="en-US" id="id_379234_518746_1_1">Goodwill And Intangible Assets Disclosure [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_GoodwillAndIntangibleAssetsDisclosureLineItems_lbl" xml:lang="en-US" id="id_379234_518746_2_1">Goodwill and Intangible Assets Disclosure [Line Items]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_GoodwillAndIntangibleAssetsDisclosureTable_lbl" xml:lang="en-US" id="id_379234_541755_3_1">Goodwill and Intangible Assets Disclosure [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_GoodwillAndIntangibleAssetsDisclosureTable_lbl" xml:lang="en-US" id="id_379234_541755_1_1">Goodwill And Intangible Assets Disclosure [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_GoodwillAndIntangibleAssetsDisclosureTable_lbl" xml:lang="en-US" id="id_379234_541755_2_1">Goodwill and Intangible Assets Disclosure [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_GoodwillAndIntangibleAssetsDisclosureTable" xlink:to="ntrs_GoodwillAndIntangibleAssetsDisclosureTable_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock_lbl" xml:lang="en-US" id="id_379234_507422_1_1">Goodwill And Intangible Assets Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock_lbl" xml:lang="en-US" id="id_379234_507422_2_1">Goodwill and Other Intangibles</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GoodwillLineItems_lbl" xml:lang="en-US" id="id_379234_502143_1_1">Goodwill [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_GoodwillLineItems_lbl" xml:lang="en-US" id="id_379234_502143_2_1">Goodwill [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GoodwillLineItems" xlink:to="us-gaap_GoodwillLineItems_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_GrossRealizedInvestmentGains_lbl" xml:lang="en-US" id="id_379234_556171_3_1">Gross Realized Investment Gains</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_GrossRealizedInvestmentGains_lbl" xml:lang="en-US" id="id_379234_556171_1_1">Gross Realized Investment Gains</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_GrossRealizedInvestmentGains_lbl" xml:lang="en-US" id="id_379234_556171_2_1">Gross realized securities gains</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_GrossRealizedInvestmentLosses_lbl" xml:lang="en-US" id="id_379234_556172_3_1">Gross Realized Investment Losses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_GrossRealizedInvestmentLosses_lbl" xml:lang="en-US" id="id_379234_556172_1_1">Gross Realized Investment Losses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_GrossRealizedInvestmentLosses_lbl" xml:lang="en-US" id="id_379234_556172_2_1">Gross realized securities losses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_GrossRealizedInvestmentLosses" xlink:to="ntrs_GrossRealizedInvestmentLosses_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_GroupOneMember_lbl" xml:lang="en-US" id="id_379234_537106_3_1">Group One [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_GroupOneMember_lbl" xml:lang="en-US" id="id_379234_537106_1_1">Group One [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_GroupOneMember_lbl" xml:lang="en-US" id="id_379234_537106_2_1">Group One</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_GroupTwoMember_lbl" xml:lang="en-US" id="id_379234_537107_3_1">Group Two [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_GroupTwoMember_lbl" xml:lang="en-US" id="id_379234_537107_1_1">Group Two [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_GroupTwoMember_lbl" xml:lang="en-US" id="id_379234_537107_2_1">Group Two</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_HedgedItemAxis_lbl" xml:lang="en-US" id="id_379234_530625_3_1">Hedged Item [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_HedgedItemAxis_lbl" xml:lang="en-US" id="id_379234_530625_1_1">Hedged Item [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_HedgedItemAxis_lbl" xml:lang="en-US" id="id_379234_530625_2_1">Hedged Item</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_HedgedItemAxis" xlink:to="ntrs_HedgedItemAxis_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_HedgedItemDomain_lbl" xml:lang="en-US" id="id_379234_531707_3_1">Hedged Item [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_HedgedItemDomain_lbl" xml:lang="en-US" id="id_379234_531707_1_1">Hedged Item [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_HedgedItemDomain_lbl" xml:lang="en-US" id="id_379234_531707_2_1">Hedged Item [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_HedgedItemDomain" xlink:to="ntrs_HedgedItemDomain_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_HedgingDesignationDomain_lbl" xml:lang="en-US" id="id_379234_509933_1_1">Hedging Designation [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_HedgingDesignationDomain_lbl" xml:lang="en-US" id="id_379234_509933_2_1">Hedging Designation [Domain]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_HedgingRelationshipDomain_lbl" xml:lang="en-US" id="id_379234_511595_1_1">Hedging Relationship [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_HedgingRelationshipDomain_lbl" xml:lang="en-US" id="id_379234_511595_2_1">Hedging Relationship [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_HedgingRelationshipDomain" xlink:to="us-gaap_HedgingRelationshipDomain_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:label="us-gaap_HeldToMaturitySecurities_lbl" xml:lang="en-US" id="id_379234_502690_32_1">Held to Maturity (Fair value of $1,064.2 and $817.1)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_HeldToMaturitySecurities_lbl" xml:lang="en-US" id="id_379234_502690_2_1">Amortized Cost</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_HeldToMaturitySecurities_lbl" xml:lang="en-US" id="id_379234_502690_6_1">Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_HeldToMaturitySecurities_lbl" xml:lang="en-US" id="id_379234_502690_12_1">Held to Maturity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_HeldToMaturitySecurities" xlink:to="us-gaap_HeldToMaturitySecurities_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_lbl" xml:lang="en-US" id="id_379234_502435_1_1">Held To Maturity Securities Debt Maturities After Five Through Ten Years Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_lbl" xml:lang="en-US" id="id_379234_502435_2_1">Due After Five Years Through Ten Years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue" xlink:to="us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsNetCarryingAmount" xlink:label="us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsNetCarryingAmount"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsNetCarryingAmount_lbl" xml:lang="en-US" id="id_379234_502099_2_1">Due After Five Years Through Ten Years</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance" xlink:label="us-gaap_ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_IndemnificationGuaranteeMember" xlink:label="us-gaap_IndemnificationGuaranteeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IndemnificationGuaranteeMember_lbl" xml:lang="en-US" id="id_379234_514486_1_1">Indemnification Guarantee [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IndemnificationGuaranteeMember_lbl" xml:lang="en-US" id="id_379234_514486_2_1">Indemnification Agreement</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InterestAndDividendIncomeOperating_lbl" xml:lang="en-US" id="id_379234_507592_2_1">Interest Income</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InterestAndDividendIncomeOperatingAbstract" xlink:label="us-gaap_InterestAndDividendIncomeOperatingAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestAndDividendIncomeOperatingAbstract_lbl" xml:lang="en-US" id="id_379234_509697_1_1">Interest And Dividend Income Operating [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InterestAndDividendIncomeOperatingAbstract_lbl" xml:lang="en-US" id="id_379234_509697_2_1">Interest Income</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InterestAndFeeIncomeLoansAndLeases_lbl" xml:lang="en-US" id="id_379234_501038_2_1">Loans and Leases</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestBearingDepositLiabilitiesForeign_lbl" xml:lang="en-US" id="id_379234_510915_1_1">Interest Bearing Deposit Liabilities Foreign</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InterestBearingDepositLiabilitiesForeign_lbl" xml:lang="en-US" id="id_379234_510915_2_1">- Interest-Bearing</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestBearingDepositsInBanks_lbl" xml:lang="en-US" id="id_379234_505461_1_1">Interest Bearing Deposits In Banks</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InterestBearingDepositsInBanks_lbl" xml:lang="en-US" id="id_379234_505461_2_1">Interest-Bearing Deposits with Banks</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_InterestBearingDepositsInFederalReserveAndOtherCentralBanks_lbl" xml:lang="en-US" id="id_379234_520320_3_1">Includes balances with the Federal Reserve Banks and central Banks and other interest-bearing deposits.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_InterestBearingDepositsInFederalReserveAndOtherCentralBanks_lbl" xml:lang="en-US" id="id_379234_520320_1_1">Interest Bearing Deposits In Federal Reserve And Other Central Banks</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_InterestBearingDepositsInFederalReserveAndOtherCentralBanks_lbl" xml:lang="en-US" id="id_379234_520320_2_1">Federal Reserve Deposits and Other Interest-Bearing</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InterestExpense" xlink:label="us-gaap_InterestExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestExpense_lbl" xml:lang="en-US" id="id_379234_514855_1_1">Interest Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InterestExpense_lbl" xml:lang="en-US" id="id_379234_514855_2_1">Interest Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_InterestExpense_lbl" xml:lang="en-US" id="id_379234_514855_6_1">Total Interest Expense</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InterestExpenseAbstract" xlink:label="us-gaap_InterestExpenseAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestExpenseAbstract_lbl" xml:lang="en-US" id="id_379234_506422_1_1">Interest Expense [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InterestExpenseAbstract_lbl" xml:lang="en-US" id="id_379234_506422_2_1">Interest Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpenseAbstract" xlink:to="us-gaap_InterestExpenseAbstract_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestExpenseDeposits_lbl" xml:lang="en-US" id="id_379234_498396_1_1">Interest Expense Deposits</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InterestExpenseDeposits_lbl" xml:lang="en-US" id="id_379234_498396_2_1">Deposits</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InterestExpenseFederalFundsPurchased" xlink:label="us-gaap_InterestExpenseFederalFundsPurchased"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InterestExpenseJuniorSubordinatedDebentures_lbl" xml:lang="en-US" id="id_379234_505479_2_1">Floating Rate Capital Debt</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestExpenseMember_lbl" xml:lang="en-US" id="id_379234_513218_1_1">Interest Expense [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InterestExpenseMember_lbl" xml:lang="en-US" id="id_379234_513218_2_1">Interest Expense</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_InvestmentSecurityGainsLossesNet_lbl" xml:lang="en-US" id="id_379234_522801_1_1">Investment Security Gains Losses Net</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InvestmentsFairValueDisclosure" xlink:label="us-gaap_InvestmentsFairValueDisclosure"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentsFairValueDisclosure_lbl" xml:lang="en-US" id="id_379234_510176_1_1">Investments Fair Value Disclosure</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentsFairValueDisclosure_lbl" xml:lang="en-US" id="id_379234_510176_2_1">Total Available for Sale and Trading</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentsFairValueDisclosure" xlink:to="us-gaap_InvestmentsFairValueDisclosure_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock" xlink:label="us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock_lbl" xml:lang="en-US" id="id_379234_514498_1_1">Investments In Debt And Marketable Equity Securities And Certain Trading Assets Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock_lbl" xml:lang="en-US" id="id_379234_514498_2_1">Securities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock" xlink:to="us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_InvestmentsUnrealizedLossPositionLineItems" xlink:label="ntrs_InvestmentsUnrealizedLossPositionLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_InvestmentsUnrealizedLossPositionLineItems_lbl" xml:lang="en-US" id="id_379234_518747_3_1">Investments, Unrealized Loss Position [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_InvestmentsUnrealizedLossPositionLineItems_lbl" xml:lang="en-US" id="id_379234_518747_1_1">Investments Unrealized Loss Position [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_InvestmentsUnrealizedLossPositionLineItems_lbl" xml:lang="en-US" id="id_379234_518747_2_1">Investments, Unrealized Loss Position [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_InvestmentsUnrealizedLossPositionLineItems" xlink:to="ntrs_InvestmentsUnrealizedLossPositionLineItems_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_InvestmentsUnrealizedLossPositionTable_lbl" xml:lang="en-US" id="id_379234_541979_3_1">Investments, Unrealized Loss Position [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_InvestmentsUnrealizedLossPositionTable_lbl" xml:lang="en-US" id="id_379234_541979_1_1">Investments Unrealized Loss Position [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_InvestmentsUnrealizedLossPositionTable_lbl" xml:lang="en-US" id="id_379234_541979_2_1">Investments, Unrealized Loss Position [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_InvestmentsUnrealizedLossPositionTable" xlink:to="ntrs_InvestmentsUnrealizedLossPositionTable_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InvestmentTypeAxis" xlink:label="us-gaap_InvestmentTypeAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentTypeAxis_lbl" xml:lang="en-US" id="id_379234_511531_1_1">Investment Type [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentTypeAxis_lbl" xml:lang="en-US" id="id_379234_511531_2_1">Investment Type</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentTypeAxis" xlink:to="us-gaap_InvestmentTypeAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_InvestmentTypeCategorizationMember" xlink:label="us-gaap_InvestmentTypeCategorizationMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentTypeCategorizationMember_lbl" xml:lang="en-US" id="id_379234_508658_1_1">Investment Type Categorization [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentTypeCategorizationMember_lbl" xml:lang="en-US" id="id_379234_508658_2_1">Investment Type Categorization [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentTypeCategorizationMember" xlink:to="us-gaap_InvestmentTypeCategorizationMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_JuniorSubordinatedDebentureOwedToUnconsolidatedSubsidiaryTrust" xlink:label="us-gaap_JuniorSubordinatedDebentureOwedToUnconsolidatedSubsidiaryTrust"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_JuniorSubordinatedDebentureOwedToUnconsolidatedSubsidiaryTrust_lbl" xml:lang="en-US" id="id_379234_511118_1_1">Junior Subordinated Debenture Owed To Unconsolidated Subsidiary Trust</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_JuniorSubordinatedDebentureOwedToUnconsolidatedSubsidiaryTrust_lbl" xml:lang="en-US" id="id_379234_511118_2_1">Floating Rate Capital Debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_JuniorSubordinatedDebentureOwedToUnconsolidatedSubsidiaryTrust" xlink:to="us-gaap_JuniorSubordinatedDebentureOwedToUnconsolidatedSubsidiaryTrust_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LeasesReceivableCommercialLeaseFinancing" xlink:label="us-gaap_LeasesReceivableCommercialLeaseFinancing"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LeasesReceivableCommercialLeaseFinancing_lbl" xml:lang="en-US" id="id_379234_503686_1_1">Leases Receivable Commercial Lease Financing</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LeasesReceivableCommercialLeaseFinancing_lbl" xml:lang="en-US" id="id_379234_503686_2_1">Lease Financing, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeasesReceivableCommercialLeaseFinancing" xlink:to="us-gaap_LeasesReceivableCommercialLeaseFinancing_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_LegalEntityAxis_lbl" xml:lang="en-US" id="id_379234_497730_1_1">Legal Entity [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_LegalEntityAxis_lbl" xml:lang="en-US" id="id_379234_497730_2_1">Legal Entity [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LegalEntityAxis" xlink:to="dei_LegalEntityAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LettersOfCreditOutstandingAmount" xlink:label="us-gaap_LettersOfCreditOutstandingAmount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LettersOfCreditOutstandingAmount_lbl" xml:lang="en-US" id="id_379234_510967_1_1">Letters Of Credit Outstanding Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LettersOfCreditOutstandingAmount_lbl" xml:lang="en-US" id="id_379234_510967_2_1">Standby letters of credit outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LettersOfCreditOutstandingAmount" xlink:to="us-gaap_LettersOfCreditOutstandingAmount_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_LeveragedLeasesAxis" xlink:label="ntrs_LeveragedLeasesAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_LeveragedLeasesAxis_lbl" xml:lang="en-US" id="id_379234_530580_3_1">Leveraged Leases [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_LeveragedLeasesAxis_lbl" xml:lang="en-US" id="id_379234_530580_1_1">Leveraged Leases [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_LeveragedLeasesAxis_lbl" xml:lang="en-US" id="id_379234_530580_2_1">Leveraged Leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_LeveragedLeasesAxis" xlink:to="ntrs_LeveragedLeasesAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_LeveragedLeasesDomain" xlink:label="ntrs_LeveragedLeasesDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_LeveragedLeasesDomain_lbl" xml:lang="en-US" id="id_379234_533884_3_1">Leveraged Leases [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_LeveragedLeasesDomain_lbl" xml:lang="en-US" id="id_379234_533884_1_1">Leveraged Leases [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_LeveragedLeasesDomain_lbl" xml:lang="en-US" id="id_379234_533884_2_1">Leveraged Leases [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_LeveragedLeasesDomain" xlink:to="ntrs_LeveragedLeasesDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_LeveragedLeasesMember" xlink:label="ntrs_LeveragedLeasesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_LeveragedLeasesMember_lbl" xml:lang="en-US" id="id_379234_532843_3_1">Leveraged Leases [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_LeveragedLeasesMember_lbl" xml:lang="en-US" id="id_379234_532843_1_1">Leveraged Leases [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_LeveragedLeasesMember_lbl" xml:lang="en-US" id="id_379234_532843_2_1">Leveraged Leasing Transactions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_LeveragedLeasesMember" xlink:to="ntrs_LeveragedLeasesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_Liabilities" xlink:label="us-gaap_Liabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Liabilities_lbl" xml:lang="en-US" id="id_379234_506022_1_1">Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Liabilities_lbl" xml:lang="en-US" id="id_379234_506022_6_1">Total Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_Liabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesAbstract" xlink:label="us-gaap_LiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAbstract_lbl" xml:lang="en-US" id="id_379234_501731_1_1">Liabilities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LiabilitiesAbstract_lbl" xml:lang="en-US" id="id_379234_501731_2_1">Liabilities</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US" id="id_379234_508780_1_1">Liabilities And Stockholders Equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US" id="id_379234_508780_6_1">Total Liabilities and Stockholders' Equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LineOfCredit" xlink:label="us-gaap_LineOfCredit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCredit_lbl" xml:lang="en-US" id="id_379234_502298_1_1">Line Of Credit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LineOfCredit_lbl" xml:lang="en-US" id="id_379234_502298_2_1">Equity credit lines</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCredit" xlink:to="us-gaap_LineOfCredit_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_LineOfCreditDrawDownPeriod" xlink:label="ntrs_LineOfCreditDrawDownPeriod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_LineOfCreditDrawDownPeriod_lbl" xml:lang="en-US" id="id_379234_557967_3_1">Line Of Credit Draw Down Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_LineOfCreditDrawDownPeriod_lbl" xml:lang="en-US" id="id_379234_557967_1_1">Line Of Credit Draw Down Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_LineOfCreditDrawDownPeriod_lbl" xml:lang="en-US" id="id_379234_557967_2_1">Draw period for credit line products</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LoansAndLeasesReceivableAllowance" xlink:label="us-gaap_LoansAndLeasesReceivableAllowance"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LoansAndLeasesReceivableAllowance_lbl" xml:lang="en-US" id="id_379234_504294_1_1">Loans And Leases Receivable Allowance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LoansAndLeasesReceivableAllowance_lbl" xml:lang="en-US" id="id_379234_504294_6_1">Allowance Assigned to Loans and Leases</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_LoansAndLeasesReceivableAllowance_lbl" xml:lang="en-US" id="id_379234_504294_8_1">Allowance for Credit Losses Assigned to Loans and Leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LoansAndLeasesReceivableAllowance" xlink:to="us-gaap_LoansAndLeasesReceivableAllowance_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_LoansAndLeasesReceivableAllowanceForLosses" xlink:label="ntrs_LoansAndLeasesReceivableAllowanceForLosses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_LoansAndLeasesReceivableAllowanceForLosses_lbl" xml:lang="en-US" id="id_379234_521724_3_1">This represents total allowance for credit losses established to cover probable credit losses related to loans and leases as well as off-balance sheet instruments including unfunded commitments and standby letters of credit. This differs from the US XBRL taxonomy tag in that the taxonomy tag does not include the allowance for off-balance sheet instruments in its scope.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_LoansAndLeasesReceivableAllowanceForLosses_lbl" xml:lang="en-US" id="id_379234_521724_1_1">Loans And Leases Receivable Allowance For Losses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ntrs_LoansAndLeasesReceivableAllowanceForLosses_lbl" xml:lang="en-US" id="id_379234_521724_4_1">Balance at End of Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ntrs_LoansAndLeasesReceivableAllowanceForLosses_lbl" xml:lang="en-US" id="id_379234_521724_5_1">Balance at Beginning of Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ntrs_LoansAndLeasesReceivableAllowanceForLosses_lbl" xml:lang="en-US" id="id_379234_521724_6_1">Total Allowance for Credit Losses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_LoansAndLeasesReceivableAllowanceForLosses" xlink:to="ntrs_LoansAndLeasesReceivableAllowanceForLosses_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LoansAndLeasesReceivableCommercial" xlink:label="us-gaap_LoansAndLeasesReceivableCommercial"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LoansAndLeasesReceivableCommercial_lbl" xml:lang="en-US" id="id_379234_507419_1_1">Loans And Leases Receivable Commercial</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LoansAndLeasesReceivableCommercial_lbl" xml:lang="en-US" id="id_379234_507419_2_1">Commercial</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LoansAndLeasesReceivableCommercial" xlink:to="us-gaap_LoansAndLeasesReceivableCommercial_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_LoansAndLeasesReceivableCommitmentToLend" xlink:label="ntrs_LoansAndLeasesReceivableCommitmentToLend"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_LoansAndLeasesReceivableCommitmentToLend_lbl" xml:lang="en-US" id="id_379234_522642_3_1">Loans and Leases Receivable, Commitment to Lend</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_LoansAndLeasesReceivableCommitmentToLend_lbl" xml:lang="en-US" id="id_379234_522642_1_1">Loans And Leases Receivable Commitment To Lend</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_LoansAndLeasesReceivableCommitmentToLend_lbl" xml:lang="en-US" id="id_379234_522642_2_1">Unfunded loan commitments and standby letters of credit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_LoansAndLeasesReceivableCommitmentToLend" xlink:to="ntrs_LoansAndLeasesReceivableCommitmentToLend_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LoansAndLeasesReceivableConsumer" xlink:label="us-gaap_LoansAndLeasesReceivableConsumer"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LoansAndLeasesReceivableConsumer_lbl" xml:lang="en-US" id="id_379234_511660_1_1">Loans And Leases Receivable Consumer</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LoansAndLeasesReceivableConsumer_lbl" xml:lang="en-US" id="id_379234_511660_2_1">Personal</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LoansAndLeasesReceivableConsumer" xlink:to="us-gaap_LoansAndLeasesReceivableConsumer_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LoansAndLeasesReceivableDeferredIncome" xlink:label="us-gaap_LoansAndLeasesReceivableDeferredIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LoansAndLeasesReceivableDeferredIncome_lbl" xml:lang="en-US" id="id_379234_512010_1_1">Loans And Leases Receivable Deferred Income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LoansAndLeasesReceivableDeferredIncome_lbl" xml:lang="en-US" id="id_379234_512010_2_1">Total Loans and Leases, unearned income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LoansAndLeasesReceivableDeferredIncome" xlink:to="us-gaap_LoansAndLeasesReceivableDeferredIncome_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LoansAndLeasesReceivableForeignNetOfDeferredIncome" xlink:label="us-gaap_LoansAndLeasesReceivableForeignNetOfDeferredIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LoansAndLeasesReceivableForeignNetOfDeferredIncome_lbl" xml:lang="en-US" id="id_379234_499593_1_1">Loans And Leases Receivable Foreign Net Of Deferred Income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LoansAndLeasesReceivableForeignNetOfDeferredIncome_lbl" xml:lang="en-US" id="id_379234_499593_2_1">Non-U.S.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LoansAndLeasesReceivableForeignNetOfDeferredIncome" xlink:to="us-gaap_LoansAndLeasesReceivableForeignNetOfDeferredIncome_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome" xlink:label="us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_lbl" xml:lang="en-US" id="id_379234_513794_1_1">Loans And Leases Receivable Net Of Deferred Income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_lbl" xml:lang="en-US" id="id_379234_513794_2_1">Nonperforming</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_lbl" xml:lang="en-US" id="id_379234_513794_6_1">Total Loans and Leases</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_lbl" xml:lang="en-US" id="id_379234_513794_12_1">Total Loans and Leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome" xlink:to="us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LoansAndLeasesReceivableNetOfDeferredIncomeAbstract" xlink:label="us-gaap_LoansAndLeasesReceivableNetOfDeferredIncomeAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LoansAndLeasesReceivableNetOfDeferredIncomeAbstract_lbl" xml:lang="en-US" id="id_379234_509373_1_1">Loans And Leases Receivable Net Of Deferred Income [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LoansAndLeasesReceivableNetOfDeferredIncomeAbstract_lbl" xml:lang="en-US" id="id_379234_509373_2_1">Loans and Leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LoansAndLeasesReceivableNetOfDeferredIncomeAbstract" xlink:to="us-gaap_LoansAndLeasesReceivableNetOfDeferredIncomeAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LoansAndLeasesReceivableNetReportedAmount" xlink:label="us-gaap_LoansAndLeasesReceivableNetReportedAmount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LoansAndLeasesReceivableNetReportedAmount_lbl" xml:lang="en-US" id="id_379234_498986_1_1">Loans And Leases Receivable Net Reported Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LoansAndLeasesReceivableNetReportedAmount_lbl" xml:lang="en-US" id="id_379234_498986_6_1">Net Loans and Leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LoansAndLeasesReceivableNetReportedAmount" xlink:to="us-gaap_LoansAndLeasesReceivableNetReportedAmount_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_LoansAndLeasesReceivableNonPerformingLoansInterestThatWouldHaveBeenRecognized" xlink:label="ntrs_LoansAndLeasesReceivableNonPerformingLoansInterestThatWouldHaveBeenRecognized"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_LoansAndLeasesReceivableNonPerformingLoansInterestThatWouldHaveBeenRecognized_lbl" xml:lang="en-US" id="id_379234_527194_3_1">Loans and Leases Receivable, Non Performing Loans, Interest That Would Have Been Recognized</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_LoansAndLeasesReceivableNonPerformingLoansInterestThatWouldHaveBeenRecognized_lbl" xml:lang="en-US" id="id_379234_527194_1_1">Loans And Leases Receivable Non Performing Loans Interest That Would Have Been Recognized</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_LoansAndLeasesReceivableNonPerformingLoansInterestThatWouldHaveBeenRecognized_lbl" xml:lang="en-US" id="id_379234_527194_2_1">Interest income recorded for nonperforming loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_LoansAndLeasesReceivableNonPerformingLoansInterestThatWouldHaveBeenRecognized" xlink:to="ntrs_LoansAndLeasesReceivableNonPerformingLoansInterestThatWouldHaveBeenRecognized_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LoansAndLeasesReceivableOther" xlink:label="us-gaap_LoansAndLeasesReceivableOther"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LoansAndLeasesReceivableOther_lbl" xml:lang="en-US" id="id_379234_498421_1_1">Loans And Leases Receivable Other</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LoansAndLeasesReceivableOther_lbl" xml:lang="en-US" id="id_379234_498421_2_1">Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LoansAndLeasesReceivableOther" xlink:to="us-gaap_LoansAndLeasesReceivableOther_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_LoansAndLeasesReceivablePrivateClient" xlink:label="ntrs_LoansAndLeasesReceivablePrivateClient"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_LoansAndLeasesReceivablePrivateClient_lbl" xml:lang="en-US" id="id_379234_521081_3_1">Loans and Leases Receivable, Private Client</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_LoansAndLeasesReceivablePrivateClient_lbl" xml:lang="en-US" id="id_379234_521081_1_1">Loans And Leases Receivable Private Client</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_LoansAndLeasesReceivablePrivateClient_lbl" xml:lang="en-US" id="id_379234_521081_2_1">Private Client</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_LoansAndLeasesReceivablePrivateClient" xlink:to="ntrs_LoansAndLeasesReceivablePrivateClient_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_LoansAndLeasesReceivableResidentialRealEstate" xlink:label="ntrs_LoansAndLeasesReceivableResidentialRealEstate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_LoansAndLeasesReceivableResidentialRealEstate_lbl" xml:lang="en-US" id="id_379234_521082_3_1">Loans and Leases Receivable, Residential, Real Estate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_LoansAndLeasesReceivableResidentialRealEstate_lbl" xml:lang="en-US" id="id_379234_521082_1_1">Loans And Leases Receivable Residential Real Estate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_LoansAndLeasesReceivableResidentialRealEstate_lbl" xml:lang="en-US" id="id_379234_521082_2_1">Residential Real Estate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_LoansAndLeasesReceivableResidentialRealEstate" xlink:to="ntrs_LoansAndLeasesReceivableResidentialRealEstate_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LoansHeldForSaleMortgages" xlink:label="us-gaap_LoansHeldForSaleMortgages"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LoansHeldForSaleMortgages_lbl" xml:lang="en-US" id="id_379234_512698_1_1">Loans Held For Sale Mortgages</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LoansHeldForSaleMortgages_lbl" xml:lang="en-US" id="id_379234_512698_2_1">Loans held for sale</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LoansHeldForSaleMortgages" xlink:to="us-gaap_LoansHeldForSaleMortgages_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LoansMember" xlink:label="us-gaap_LoansMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LoansMember_lbl" xml:lang="en-US" id="id_379234_507708_1_1">Loans [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LoansMember_lbl" xml:lang="en-US" id="id_379234_507708_2_1">Loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LoansMember" xlink:to="us-gaap_LoansMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LoansReceivableCommercialFinancialAndAgricultural" xlink:label="us-gaap_LoansReceivableCommercialFinancialAndAgricultural"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LoansReceivableCommercialFinancialAndAgricultural_lbl" xml:lang="en-US" id="id_379234_503437_1_1">Loans Receivable Commercial Financial And Agricultural</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LoansReceivableCommercialFinancialAndAgricultural_lbl" xml:lang="en-US" id="id_379234_503437_2_1">Commercial and Institutional</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LoansReceivableCommercialFinancialAndAgricultural" xlink:to="us-gaap_LoansReceivableCommercialFinancialAndAgricultural_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LoansReceivableCommercialRealEstate" xlink:label="us-gaap_LoansReceivableCommercialRealEstate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LoansReceivableCommercialRealEstate_lbl" xml:lang="en-US" id="id_379234_505556_1_1">Loans Receivable Commercial Real Estate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LoansReceivableCommercialRealEstate_lbl" xml:lang="en-US" id="id_379234_505556_2_1">Commercial Real Estate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LoansReceivableCommercialRealEstate" xlink:to="us-gaap_LoansReceivableCommercialRealEstate_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LoansReceivableHeldForSaleNet" xlink:label="us-gaap_LoansReceivableHeldForSaleNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LoansReceivableHeldForSaleNet_lbl" xml:lang="en-US" id="id_379234_505871_1_1">Loans Receivable Held For Sale Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LoansReceivableHeldForSaleNet_lbl" xml:lang="en-US" id="id_379234_505871_2_1">Held for Sale</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LoansReceivableHeldForSaleNet" xlink:to="us-gaap_LoansReceivableHeldForSaleNet_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_LoansReceivableHeldToMaturity" xlink:label="ntrs_LoansReceivableHeldToMaturity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_LoansReceivableHeldToMaturity_lbl" xml:lang="en-US" id="id_379234_522169_3_1">This represents loans receivable that will be held to maturity.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_LoansReceivableHeldToMaturity_lbl" xml:lang="en-US" id="id_379234_522169_1_1">Loans Receivable Held To Maturity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_LoansReceivableHeldToMaturity_lbl" xml:lang="en-US" id="id_379234_522169_2_1">Loans Held for Investment (excluding Leases)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_LoansReceivableHeldToMaturity" xlink:to="ntrs_LoansReceivableHeldToMaturity_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_LoansReceivableOverdraftAdvances" xlink:label="ntrs_LoansReceivableOverdraftAdvances"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_LoansReceivableOverdraftAdvances_lbl" xml:lang="en-US" id="id_379234_522167_3_1">This element represents short duration advances, primarily related to overdrafts associated with the timing of custody client's investments included in other U.S. and non-U.S. loans.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_LoansReceivableOverdraftAdvances_lbl" xml:lang="en-US" id="id_379234_522167_1_1">Loans Receivable Overdraft Advances</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_LoansReceivableOverdraftAdvances_lbl" xml:lang="en-US" id="id_379234_522167_2_1">Other U.S. loans and non-U.S. loans, short duration advances</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_LoansReceivableOverdraftAdvances" xlink:to="ntrs_LoansReceivableOverdraftAdvances_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LongTermDebtAbstract" xlink:label="us-gaap_LongTermDebtAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtAbstract_lbl" xml:lang="en-US" id="id_379234_509287_1_1">Long Term Debt [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LongTermDebtAbstract_lbl" xml:lang="en-US" id="id_379234_509287_2_1">Long Term Debt (excluding Leases)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtAbstract" xlink:to="us-gaap_LongTermDebtAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_LongtermDebtTypeAxis" xlink:label="us-gaap_LongtermDebtTypeAxis"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US" id="id_379234_505595_1_1">Net Cash Provided By Used In Operating Activities [Abstract]</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_NetChangeInClientSecuritySettlementReceivables" xlink:label="ntrs_NetChangeInClientSecuritySettlementReceivables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_NetChangeInClientSecuritySettlementReceivables_lbl" xml:lang="en-US" id="id_379234_519781_3_1">Net increase (decrease) in collection items presented on behalf of custody clients.</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_NetImpairmentLossesOnAvailableForSaleSecurities" xlink:label="ntrs_NetImpairmentLossesOnAvailableForSaleSecurities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_NetImpairmentLossesOnAvailableForSaleSecurities_lbl" xml:lang="en-US" id="id_379234_522527_3_1">Net Impairment Losses On Available For Sale Securities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_NetImpairmentLossesOnAvailableForSaleSecurities_lbl" xml:lang="en-US" id="id_379234_522527_1_1">Net Impairment Losses On Available For Sale Securities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_NetImpairmentLossesOnAvailableForSaleSecurities_lbl" xml:lang="en-US" id="id_379234_522527_2_1">Impairment losses</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="us-gaap_NetIncomeLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US" id="id_379234_513055_1_1">Net Income Loss</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US" id="id_379234_513055_2_1">Net Income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US" id="id_379234_513055_6_1">Net Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_NetIncomeLossAllocatedToCommonStockholdersBasic" xlink:label="ntrs_NetIncomeLossAllocatedToCommonStockholdersBasic"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_NetIncomeLossAllocatedToCommonStockholdersBasic_lbl" xml:lang="en-US" id="id_379234_522381_3_1">Net Income (Loss) Allocated to Common Stockholders, Basic</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_NetIncomeLossAllocatedToCommonStockholdersBasic_lbl" xml:lang="en-US" id="id_379234_522381_1_1">Net Income Loss Allocated To Common Stockholders Basic</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ntrs_NetIncomeLossAllocatedToCommonStockholdersBasic_lbl" xml:lang="en-US" id="id_379234_522381_6_1">Earnings Allocated to Common Shares Outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_NetIncomeLossAllocatedToCommonStockholdersBasic" xlink:to="ntrs_NetIncomeLossAllocatedToCommonStockholdersBasic_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_lbl" xml:lang="en-US" id="id_379234_513871_1_1">Net Income Loss Available To Common Stockholders Basic</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_lbl" xml:lang="en-US" id="id_379234_513871_2_1">Net Income Applicable to Common Stock</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_lbl" xml:lang="en-US" id="id_379234_513871_6_1">Net Income Applicable to Common Stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:to="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_lbl" xml:lang="en-US" id="id_379234_514857_1_1">Net Income Loss Available To Common Stockholders Diluted</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_lbl" xml:lang="en-US" id="id_379234_514857_2_1">Earnings Allocated to Common and Potential Common Shares</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_NetInterestIncomeLineItems" xlink:label="ntrs_NetInterestIncomeLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_NetInterestIncomeLineItems_lbl" xml:lang="en-US" id="id_379234_518927_3_1">Net Interest Income [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_NetInterestIncomeLineItems_lbl" xml:lang="en-US" id="id_379234_518927_1_1">Net Interest Income [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_NetInterestIncomeLineItems_lbl" xml:lang="en-US" id="id_379234_518927_2_1">Net Interest Income [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_NetInterestIncomeLineItems" xlink:to="ntrs_NetInterestIncomeLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_NetInterestIncomeTable" xlink:label="ntrs_NetInterestIncomeTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_NetInterestIncomeTable_lbl" xml:lang="en-US" id="id_379234_541999_3_1">Net Interest Income [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_NetInterestIncomeTable_lbl" xml:lang="en-US" id="id_379234_541999_1_1">Net Interest Income [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_NetInterestIncomeTable_lbl" xml:lang="en-US" id="id_379234_541999_2_1">Net Interest Income [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_NetInterestIncomeTable" xlink:to="ntrs_NetInterestIncomeTable_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_NetInvestmentHedgeGainLossMember" xlink:label="ntrs_NetInvestmentHedgeGainLossMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_NetInvestmentHedgeGainLossMember_lbl" xml:lang="en-US" id="id_379234_548630_3_1">Net Investment Hedge Gain Loss [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_NetInvestmentHedgeGainLossMember_lbl" xml:lang="en-US" id="id_379234_548630_1_1">Net Investment Hedge Gain Loss [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_NetInvestmentHedgeGainLossMember_lbl" xml:lang="en-US" id="id_379234_548630_2_1">Net Investment Hedge Gains (Losses)</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NetInvestmentHedgingMember" xlink:label="us-gaap_NetInvestmentHedgingMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetInvestmentHedgingMember_lbl" xml:lang="en-US" id="id_379234_511194_1_1">Net Investment Hedging [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetInvestmentHedgingMember_lbl" xml:lang="en-US" id="id_379234_511194_2_1">NET INVESTMENT HEDGES</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_NetInvestmentsInForeignAffiliatesMember" xlink:label="ntrs_NetInvestmentsInForeignAffiliatesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_NetInvestmentsInForeignAffiliatesMember_lbl" xml:lang="en-US" id="id_379234_532640_3_1">Net Investments In Foreign Affiliates [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_NetInvestmentsInForeignAffiliatesMember_lbl" xml:lang="en-US" id="id_379234_532640_1_1">Net Investments In Foreign Affiliates [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_NetInvestmentsInForeignAffiliatesMember_lbl" xml:lang="en-US" id="id_379234_532640_2_1">Net Investments in Non-U.S. Affiliates</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NettingAndCollateralMember" xlink:label="us-gaap_NettingAndCollateralMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NettingAndCollateralMember_lbl" xml:lang="en-US" id="id_379234_502611_1_1">Netting And Collateral [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NettingAndCollateralMember_lbl" xml:lang="en-US" id="id_379234_502611_2_1">Netting and Collateral</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_NonAgencyResidentialMortgageBackedSecuritiesMember" xlink:label="ntrs_NonAgencyResidentialMortgageBackedSecuritiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_NonAgencyResidentialMortgageBackedSecuritiesMember_lbl" xml:lang="en-US" id="id_379234_532527_3_1">Non Agency Residential Mortgage Backed Securities [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_NonAgencyResidentialMortgageBackedSecuritiesMember_lbl" xml:lang="en-US" id="id_379234_532527_1_1">Non Agency Residential Mortgage Backed Securities [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_NonAgencyResidentialMortgageBackedSecuritiesMember_lbl" xml:lang="en-US" id="id_379234_532527_2_1">Non-Agency RMBS</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_NoncreditRelatedUnrealizedLossesOnSecuritiesOtherThanTemporarilyImpairmentMember" xlink:label="ntrs_NoncreditRelatedUnrealizedLossesOnSecuritiesOtherThanTemporarilyImpairmentMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_NoncreditRelatedUnrealizedLossesOnSecuritiesOtherThanTemporarilyImpairmentMember_lbl" xml:lang="en-US" id="id_379234_515730_3_1">Noncredit Related Unrealized Losses on Securities OTTI [Member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NoninterestIncome_lbl" xml:lang="en-US" id="id_379234_500599_1_1">Noninterest Income</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NoninterestIncomeAbstract" xlink:label="us-gaap_NoninterestIncomeAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NoninterestIncomeAbstract_lbl" xml:lang="en-US" id="id_379234_509869_1_1">Noninterest Income [Abstract]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NoninterestIncomeOtherOperatingIncome_lbl" xml:lang="en-US" id="id_379234_508788_2_1">Other Operating Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoninterestIncomeOtherOperatingIncome" xlink:to="us-gaap_NoninterestIncomeOtherOperatingIncome_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_NonperformingAssets_lbl" xml:lang="en-US" id="id_379234_524695_3_1">Total nonperforming assets, which is the sum of nonperforming loans and other real estate and foreclosed assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_NonperformingAssets_lbl" xml:lang="en-US" id="id_379234_524695_1_1">Nonperforming Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_NonperformingAssets_lbl" xml:lang="en-US" id="id_379234_524695_2_1">Total Nonperforming Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_NonperformingAssets" xlink:to="ntrs_NonperformingAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_NonPerformingDelinquentLoansAndLeasesSummaryDescriptionDisclosureTextBlock" xlink:label="ntrs_NonPerformingDelinquentLoansAndLeasesSummaryDescriptionDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_NonPerformingDelinquentLoansAndLeasesSummaryDescriptionDisclosureTextBlock_lbl" xml:lang="en-US" id="id_379234_538368_3_1">Non Performing Delinquent Loans and Leases Summary Description Disclosure [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_NonPerformingDelinquentLoansAndLeasesSummaryDescriptionDisclosureTextBlock_lbl" xml:lang="en-US" id="id_379234_538368_1_1">Non Performing Delinquent Loans And Leases Summary Description Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_NonPerformingDelinquentLoansAndLeasesSummaryDescriptionDisclosureTextBlock_lbl" xml:lang="en-US" id="id_379234_538368_2_1">Number of Loans and Leases which became Nonperforming and Modified in Proceeding 12-Month Period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_NonPerformingDelinquentLoansAndLeasesSummaryDescriptionDisclosureTextBlock" xlink:to="ntrs_NonPerformingDelinquentLoansAndLeasesSummaryDescriptionDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NonperformingFinancingReceivableMember" xlink:label="us-gaap_NonperformingFinancingReceivableMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NonperformingFinancingReceivableMember_lbl" xml:lang="en-US" id="id_379234_510914_1_1">Nonperforming Financing Receivable [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NonperformingFinancingReceivableMember_lbl" xml:lang="en-US" id="id_379234_510914_2_1">Nonperforming Financing Receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NonperformingFinancingReceivableMember" xlink:to="us-gaap_NonperformingFinancingReceivableMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_NonUnitedStatesMember" xlink:label="ntrs_NonUnitedStatesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_NonUnitedStatesMember_lbl" xml:lang="en-US" id="id_379234_532694_3_1">Non United States [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_NonUnitedStatesMember_lbl" xml:lang="en-US" id="id_379234_532694_1_1">Non United States [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_NonUnitedStatesMember_lbl" xml:lang="en-US" id="id_379234_532694_2_1">Non-U.S.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_NonUnitedStatesMember" xlink:to="ntrs_NonUnitedStatesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_NotionalAmountOfNonderivativeInstrumentsDesignatedAsNetInvestmentHedges" xlink:label="us-gaap_NotionalAmountOfNonderivativeInstrumentsDesignatedAsNetInvestmentHedges"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NotionalAmountOfNonderivativeInstrumentsDesignatedAsNetInvestmentHedges_lbl" xml:lang="en-US" id="id_379234_500951_1_1">Notional Amount Of Nonderivative Instruments Designated As Net Investment Hedges</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NotionalAmountOfNonderivativeInstrumentsDesignatedAsNetInvestmentHedges_lbl" xml:lang="en-US" id="id_379234_500951_2_1">Sterling denominated debt designated as hedges of foreign exchange risk</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_NumberOfSecuritiesContinuousUnrealizedLossPositionMoreThanTwelveMonths_lbl" xml:lang="en-US" id="id_379234_529446_3_1">Number of Securities, Continuous Unrealized Loss Position More Than Twelve Months</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_NumberOfSecuritiesContinuousUnrealizedLossPositionMoreThanTwelveMonths_lbl" xml:lang="en-US" id="id_379234_529446_1_1">Number Of Securities Continuous Unrealized Loss Position More Than Twelve Months</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_NumberOfSecuritiesUnrealizedLossesPosition_lbl" xml:lang="en-US" id="id_379234_529444_3_1">Number of Securities, Unrealized Losses Position</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OccupancyNet" xlink:label="us-gaap_OccupancyNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OccupancyNet_lbl" xml:lang="en-US" id="id_379234_506438_1_1">Occupancy Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OccupancyNet_lbl" xml:lang="en-US" id="id_379234_506438_2_1">Occupancy</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_OtherAssetBackedSecuritiesMember_lbl" xml:lang="en-US" id="id_379234_530917_3_1">Other Asset Backed Securities [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_OtherAssetBackedSecuritiesMember_lbl" xml:lang="en-US" id="id_379234_530917_1_1">Other Asset Backed Securities [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_OtherAssetBackedSecuritiesMember_lbl" xml:lang="en-US" id="id_379234_530917_2_1">Other Asset-Backed</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_OtherAssetBackedSecuritiesMember" xlink:to="ntrs_OtherAssetBackedSecuritiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherAssets" xlink:label="us-gaap_OtherAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherAssets_lbl" xml:lang="en-US" id="id_379234_501334_1_1">Other Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherAssets_lbl" xml:lang="en-US" id="id_379234_501334_2_1">Other Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAssets" xlink:to="us-gaap_OtherAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherAssetsAbstract" xlink:label="us-gaap_OtherAssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherAssetsAbstract_lbl" xml:lang="en-US" id="id_379234_499844_1_1">Other Assets [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherAssetsAbstract_lbl" xml:lang="en-US" id="id_379234_499844_2_1">Other Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAssetsAbstract" xlink:to="us-gaap_OtherAssetsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherAssetsMember" xlink:label="us-gaap_OtherAssetsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherAssetsMember_lbl" xml:lang="en-US" id="id_379234_503706_1_1">Other Assets [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherAssetsMember_lbl" xml:lang="en-US" id="id_379234_503706_2_1">Other Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAssetsMember" xlink:to="us-gaap_OtherAssetsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherBorrowings" xlink:label="us-gaap_OtherBorrowings"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherBorrowings_lbl" xml:lang="en-US" id="id_379234_503359_1_1">Other Borrowings</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherBorrowings_lbl" xml:lang="en-US" id="id_379234_503359_2_1">Other Borrowings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherBorrowings" xlink:to="us-gaap_OtherBorrowings_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherComprehensiveIncomeLocationAxis" xlink:label="us-gaap_OtherComprehensiveIncomeLocationAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherComprehensiveIncomeLocationAxis_lbl" xml:lang="en-US" id="id_379234_505026_1_1">Other Comprehensive Income Location [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherComprehensiveIncomeLocationAxis_lbl" xml:lang="en-US" id="id_379234_505026_2_1">Other Comprehensive Income Location</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherComprehensiveIncomeLocationAxis" xlink:to="us-gaap_OtherComprehensiveIncomeLocationAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherComprehensiveIncomeLocationDomain" xlink:label="us-gaap_OtherComprehensiveIncomeLocationDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherComprehensiveIncomeLocationDomain_lbl" xml:lang="en-US" id="id_379234_504766_1_1">Other Comprehensive Income Location [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherComprehensiveIncomeLocationDomain_lbl" xml:lang="en-US" id="id_379234_504766_2_1">Other Comprehensive Income Location [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherComprehensiveIncomeLocationDomain" xlink:to="us-gaap_OtherComprehensiveIncomeLocationDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossBeforeTax" xlink:label="us-gaap_OtherComprehensiveIncomeLossBeforeTax"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherComprehensiveIncomeLossBeforeTax_lbl" xml:lang="en-US" id="id_379234_499429_1_1">Other Comprehensive Income Loss Before Tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherComprehensiveIncomeLossBeforeTax_lbl" xml:lang="en-US" id="id_379234_499429_2_1">Before Tax</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:to="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsForSoftware" xlink:label="us-gaap_PaymentsForSoftware"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsForSoftware_lbl" xml:lang="en-US" id="id_379234_511698_1_1">Payments For Software</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_PaymentsForSoftware_lbl" xml:lang="en-US" id="id_379234_511698_8_1">Purchases and Development of Computer Software</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForSoftware" xlink:to="us-gaap_PaymentsForSoftware_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsOfDividendsCommonStock" xlink:label="us-gaap_PaymentsOfDividendsCommonStock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsOfDividendsCommonStock_lbl" xml:lang="en-US" id="id_379234_506471_1_1">Payments Of Dividends Common Stock</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_PaymentsOfDividendsCommonStock_lbl" xml:lang="en-US" id="id_379234_506471_8_1">Cash Dividends Paid on Common Stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsOfDividendsCommonStock" xlink:to="us-gaap_PaymentsOfDividendsCommonStock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsToAcquireAssetsInvestingActivities" xlink:label="us-gaap_PaymentsToAcquireAssetsInvestingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireAssetsInvestingActivities_lbl" xml:lang="en-US" id="id_379234_501972_1_1">Payments To Acquire Assets Investing Activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PaymentsToAcquireAssetsInvestingActivities_lbl" xml:lang="en-US" id="id_379234_501972_2_1">Purchase of securities at par from three investment funds</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireAssetsInvestingActivities" xlink:to="us-gaap_PaymentsToAcquireAssetsInvestingActivities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsToAcquireAvailableForSaleSecurities" xlink:label="us-gaap_PaymentsToAcquireAvailableForSaleSecurities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireAvailableForSaleSecurities_lbl" xml:lang="en-US" id="id_379234_508892_1_1">Payments To Acquire Available For Sale Securities</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_PaymentsToAcquireAvailableForSaleSecurities_lbl" xml:lang="en-US" id="id_379234_508892_8_1">Purchases of Securities - Available for Sale</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireAvailableForSaleSecurities" xlink:to="us-gaap_PaymentsToAcquireAvailableForSaleSecurities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired" xlink:label="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_lbl" xml:lang="en-US" id="id_379234_499811_1_1">Payments To Acquire Businesses Net Of Cash Acquired</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_lbl" xml:lang="en-US" id="id_379234_499811_8_1">Decrease in Cash Due to Acquisitions, net of Cash Acquired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired" xlink:to="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsToAcquireHeldToMaturitySecurities" xlink:label="us-gaap_PaymentsToAcquireHeldToMaturitySecurities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireHeldToMaturitySecurities_lbl" xml:lang="en-US" id="id_379234_499659_1_1">Payments To Acquire Held To Maturity Securities</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_PaymentsToAcquireHeldToMaturitySecurities_lbl" xml:lang="en-US" id="id_379234_499659_8_1">Purchases of Securities - Held to Maturity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireHeldToMaturitySecurities" xlink:to="us-gaap_PaymentsToAcquireHeldToMaturitySecurities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xml:lang="en-US" id="id_379234_505828_1_1">Payments To Acquire Property Plant And Equipment</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xml:lang="en-US" id="id_379234_505828_8_1">Purchases of Buildings and Equipment, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:to="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock" xlink:label="us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock_lbl" xml:lang="en-US" id="id_379234_503970_1_1">Pension And Other Postretirement Benefits Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock_lbl" xml:lang="en-US" id="id_379234_503970_2_1">Pension and Other Postretirement Plans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock" xlink:to="us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PensionContributions" xlink:label="us-gaap_PensionContributions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PensionContributions_lbl" xml:lang="en-US" id="id_379234_513285_1_1">Pension Contributions</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_PensionContributions_lbl" xml:lang="en-US" id="id_379234_513285_8_1">Qualified Pension Plan Contribution</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PensionContributions" xlink:to="us-gaap_PensionContributions_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_PercentageCollateralToLoans" xlink:label="ntrs_PercentageCollateralToLoans"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_PercentageCollateralToLoans_lbl" xml:lang="en-US" id="id_379234_540451_3_1">Percentage Collateral To Loans</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_PercentageCollateralToLoans_lbl" xml:lang="en-US" id="id_379234_540451_1_1">Percentage Collateral To Loans</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_PercentageCollateralToLoans_lbl" xml:lang="en-US" id="id_379234_540451_2_1">Loans held by Northern trust</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_PercentageCollateralToLoans" xlink:to="ntrs_PercentageCollateralToLoans_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_PercentageOfConsolidatedNetIncome" xlink:label="ntrs_PercentageOfConsolidatedNetIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_PercentageOfConsolidatedNetIncome_lbl" xml:lang="en-US" id="id_379234_540266_3_1">Percentage of Consolidated Net Income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_PercentageOfConsolidatedNetIncome_lbl" xml:lang="en-US" id="id_379234_540266_1_1">Percentage Of Consolidated Net Income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_PercentageOfConsolidatedNetIncome_lbl" xml:lang="en-US" id="id_379234_540266_2_1">Percentage of Consolidated Net Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_PercentageOfConsolidatedNetIncome" xlink:to="ntrs_PercentageOfConsolidatedNetIncome_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_PercentageOfCorporateDebtPortfolio" xlink:label="ntrs_PercentageOfCorporateDebtPortfolio"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_PercentageOfCorporateDebtPortfolio_lbl" xml:lang="en-US" id="id_379234_548535_3_1">Percentage of the corporate debt portfolio backed by guarantees provided by U.S. and non-U.S. governmental entities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_PercentageOfCorporateDebtPortfolio_lbl" xml:lang="en-US" id="id_379234_548535_1_1">Percentage Of Corporate Debt Portfolio</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_PercentageOfCorporateDebtPortfolio_lbl" xml:lang="en-US" id="id_379234_548535_2_1">Percent of corporate debt portfolio</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_PercentageOfCorporateDebtPortfolio" xlink:to="ntrs_PercentageOfCorporateDebtPortfolio_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_PercentageOfDerivativesOutstanding" xlink:label="ntrs_PercentageOfDerivativesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_PercentageOfDerivativesOutstanding_lbl" xml:lang="en-US" id="id_379234_540280_3_1">Represents percentage of derivatives outstanding measured on a notional value basis, related to client-related and trading activities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_PercentageOfDerivativesOutstanding_lbl" xml:lang="en-US" id="id_379234_540280_1_1">Percentage Of Derivatives Outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_PercentageOfDerivativesOutstanding_lbl" xml:lang="en-US" id="id_379234_540280_2_1">Percentage of derivatives outstanding related to client-related and trading activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_PercentageOfDerivativesOutstanding" xlink:to="ntrs_PercentageOfDerivativesOutstanding_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_PercentageOfSecuritiesBelowCreditRating" xlink:label="ntrs_PercentageOfSecuritiesBelowCreditRating"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_PercentageOfSecuritiesBelowCreditRating_lbl" xml:lang="en-US" id="id_379234_540346_3_1">Percentage of securities rated below double-A over total fair value of securities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_PercentageOfSecuritiesBelowCreditRating_lbl" xml:lang="en-US" id="id_379234_540346_1_1">Percentage Of Securities Below Credit Rating</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_PercentageOfSecuritiesBelowCreditRating_lbl" xml:lang="en-US" id="id_379234_540346_2_1">Percentage of residential mortgage backed securities rated below double-A</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_PercentageOfSecuritiesBelowCreditRating" xlink:to="ntrs_PercentageOfSecuritiesBelowCreditRating_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_PercentageOfTotalSecuritiesRated" xlink:label="ntrs_PercentageOfTotalSecuritiesRated"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_PercentageOfTotalSecuritiesRated_lbl" xml:lang="en-US" id="id_379234_540254_3_1">Percentage of Total Securities Rated</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_PercentageOfTotalSecuritiesRated_lbl" xml:lang="en-US" id="id_379234_540254_1_1">Percentage Of Total Securities Rated</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_PercentageOfTotalSecuritiesRated_lbl" xml:lang="en-US" id="id_379234_540254_2_1">Percentage of "other asset-backed" securities rated triple-A</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_PercentageOfTotalSecuritiesRated" xlink:to="ntrs_PercentageOfTotalSecuritiesRated_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PerformingFinancingReceivableMember" xlink:label="us-gaap_PerformingFinancingReceivableMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PerformingFinancingReceivableMember_lbl" xml:lang="en-US" id="id_379234_501375_1_1">Performing Financing Receivable [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PerformingFinancingReceivableMember_lbl" xml:lang="en-US" id="id_379234_501375_2_1">Performing Financing Receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PerformingFinancingReceivableMember" xlink:to="us-gaap_PerformingFinancingReceivableMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_PersonalFinancialServicesMember" xlink:label="ntrs_PersonalFinancialServicesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_PersonalFinancialServicesMember_lbl" xml:lang="en-US" id="id_379234_532620_3_1">Personal Financial Services [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_PersonalFinancialServicesMember_lbl" xml:lang="en-US" id="id_379234_532620_1_1">Personal Financial Services [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_PersonalFinancialServicesMember_lbl" xml:lang="en-US" id="id_379234_532620_2_1">Personal Financial Services</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_PersonalFinancialServicesMember" xlink:to="ntrs_PersonalFinancialServicesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_PersonalMember" xlink:label="ntrs_PersonalMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_PersonalMember_lbl" xml:lang="en-US" id="id_379234_533209_3_1">Personal [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_PersonalMember_lbl" xml:lang="en-US" id="id_379234_533209_1_1">Personal [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_PersonalMember_lbl" xml:lang="en-US" id="id_379234_533209_2_1">Personal</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_PersonalMember" xlink:to="ntrs_PersonalMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_PersonalOtherFinancingReceivableMember" xlink:label="ntrs_PersonalOtherFinancingReceivableMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_PersonalOtherFinancingReceivableMember_lbl" xml:lang="en-US" id="id_379234_598948_3_1">Personal Other Financing Receivable [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_PersonalOtherFinancingReceivableMember_lbl" xml:lang="en-US" id="id_379234_598948_1_1">Personal Other Financing Receivable [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_PersonalOtherFinancingReceivableMember_lbl" xml:lang="en-US" id="id_379234_598948_2_1">Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_PersonalOtherFinancingReceivableMember" xlink:to="ntrs_PersonalOtherFinancingReceivableMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_PledgedAndRestrictedAssetsAxis" xlink:label="ntrs_PledgedAndRestrictedAssetsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_PledgedAndRestrictedAssetsAxis_lbl" xml:lang="en-US" id="id_379234_530578_3_1">Pledged and Restricted Assets [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_PledgedAndRestrictedAssetsAxis_lbl" xml:lang="en-US" id="id_379234_530578_1_1">Pledged And Restricted Assets [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_PledgedAndRestrictedAssetsAxis_lbl" xml:lang="en-US" id="id_379234_530578_2_1">Pledged and Restricted Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_PledgedAndRestrictedAssetsAxis" xlink:to="ntrs_PledgedAndRestrictedAssetsAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_PledgedAndRestrictedAssetsDomain" xlink:label="ntrs_PledgedAndRestrictedAssetsDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_PledgedAndRestrictedAssetsDomain_lbl" xml:lang="en-US" id="id_379234_533872_3_1">Pledged and Restricted Assets [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_PledgedAndRestrictedAssetsDomain_lbl" xml:lang="en-US" id="id_379234_533872_1_1">Pledged And Restricted Assets [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_PledgedAndRestrictedAssetsDomain_lbl" xml:lang="en-US" id="id_379234_533872_2_1">Pledged and Restricted Assets [Domain]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_PrivateClientMember_lbl" xml:lang="en-US" id="id_379234_532983_3_1">Private Client [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_PrivateClientMember_lbl" xml:lang="en-US" id="id_379234_532983_1_1">Private Client [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_PrivateClientMember_lbl" xml:lang="en-US" id="id_379234_532983_2_1">Private Client</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities" xlink:label="us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromPaymentsForFederalFundsSoldAndSecuritiesPurchasedUnderAgreementsToResellNet" xlink:label="us-gaap_ProceedsFromPaymentsForFederalFundsSoldAndSecuritiesPurchasedUnderAgreementsToResellNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromPaymentsForFederalFundsSoldAndSecuritiesPurchasedUnderAgreementsToResellNet_lbl" xml:lang="en-US" id="id_379234_508148_1_1">Proceeds From Payments For Federal Funds Sold And Securities Purchased Under Agreements To Resell Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromPaymentsForFederalFundsSoldAndSecuritiesPurchasedUnderAgreementsToResellNet_lbl" xml:lang="en-US" id="id_379234_508148_2_1">Net Increase in Federal Funds Sold and Securities Purchased under Agreements to Resell</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromPaymentsForInInterestBearingDepositsInBanks" xlink:label="us-gaap_ProceedsFromPaymentsForInInterestBearingDepositsInBanks"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromPaymentsForInInterestBearingDepositsInBanks_lbl" xml:lang="en-US" id="id_379234_513209_1_1">Proceeds From Payments For In Interest Bearing Deposits In Banks</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromPaymentsForInInterestBearingDepositsInBanks_lbl" xml:lang="en-US" id="id_379234_513209_2_1">Net Increase in Interest-Bearing Deposits with Banks</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromPaymentsForInInterestBearingDepositsInBanks" xlink:to="us-gaap_ProceedsFromPaymentsForInInterestBearingDepositsInBanks_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase" xlink:label="us-gaap_ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase_lbl" xml:lang="en-US" id="id_379234_511989_1_1">Proceeds From Payments For In Securities Sold Under Agreements To Repurchase</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase_lbl" xml:lang="en-US" id="id_379234_511989_2_1">Net Decrease in Securities Sold under Agreements to Repurchase</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase" xlink:to="us-gaap_ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromPaymentsForOtherFinancingActivities" xlink:label="us-gaap_ProceedsFromPaymentsForOtherFinancingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_lbl" xml:lang="en-US" id="id_379234_500597_1_1">Proceeds From Payments For Other Financing Activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_lbl" xml:lang="en-US" id="id_379234_500597_2_1">Other Financing Activities, net</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromRepaymentsOfShortTermDebt" xlink:label="us-gaap_ProceedsFromRepaymentsOfShortTermDebt"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromRepaymentsOfShortTermDebt_lbl" xml:lang="en-US" id="id_379234_505831_1_1">Proceeds From Repayments Of Short Term Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromRepaymentsOfShortTermDebt_lbl" xml:lang="en-US" id="id_379234_505831_2_1">Net Increase (Decrease) in Short-Term Other Borrowings</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities" xlink:label="us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities_lbl" xml:lang="en-US" id="id_379234_502024_1_1">Proceeds From Sale And Maturity Of Available For Sale Securities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities_lbl" xml:lang="en-US" id="id_379234_502024_2_1">Proceeds from Sale, Maturity and Redemption of Securities - Available for Sale</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_ProceedsFromSalesOfInvestmentSecurities" xlink:label="ntrs_ProceedsFromSalesOfInvestmentSecurities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_ProceedsFromSalesOfInvestmentSecurities_lbl" xml:lang="en-US" id="id_379234_519997_3_1">The cash inflow associated with the sales of investment securities (available for sale and held to maturity).</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProceedsFromStockOptionsExercised" xlink:label="us-gaap_ProceedsFromStockOptionsExercised"/>
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    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_ProceedsFromTermFederalFundsPurchased" xlink:label="ntrs_ProceedsFromTermFederalFundsPurchased"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_ProceedsFromTermFederalFundsPurchased_lbl" xml:lang="en-US" id="id_379234_520239_3_1">Proceeds from purchases of term federal funds.</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ProfessionalFees" xlink:label="us-gaap_ProfessionalFees"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProfessionalFees_lbl" xml:lang="en-US" id="id_379234_508848_1_1">Professional Fees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProfessionalFees_lbl" xml:lang="en-US" id="id_379234_508848_2_1">Outside Services</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_ProjectedWeightedAverageDefaultRates" xlink:label="ntrs_ProjectedWeightedAverageDefaultRates"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_ProjectedWeightedAverageDefaultRates_lbl" xml:lang="en-US" id="id_379234_540164_3_1">Projected Weighted Average Default Rates</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_ProjectedWeightedAverageDefaultRates_lbl" xml:lang="en-US" id="id_379234_540164_1_1">Projected Weighted Average Default Rates</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_ProjectedWeightedAverageDefaultRates_lbl" xml:lang="en-US" id="id_379234_540164_2_1">Weighted Average Ultimate Default Rates</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_ProjectedWeightedAverageDefaultRatesAndLossSeveritiesTextBlock_lbl" xml:lang="en-US" id="id_379234_538283_3_1">Projected Weighted-Average Default Rates and Loss Severities [Table Text Block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_ProjectedWeightedAverageLossSeverities_lbl" xml:lang="en-US" id="id_379234_540165_3_1">Projected Weighted Average Loss Severities</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="us-gaap_PropertyPlantAndEquipmentNet"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_ReclassificationAdjustmentForGainsLossesIncludedInNetIncomeMember_lbl" xml:lang="en-US" id="id_379234_598863_3_1">Reclassification Adjustment for (Gains) Losses Included in Net Income</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_ReclassificationAdjustmentForGainsLossesIncludedInNetIncomeMember_lbl" xml:lang="en-US" id="id_379234_598863_2_1">Reclassification Adjustment for (Gains) Losses Included in Net Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_ReclassificationAdjustmentForGainsLossesIncludedInNetIncomeMember" xlink:to="ntrs_ReclassificationAdjustmentForGainsLossesIncludedInNetIncomeMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_RedemptionsByIssuersMember" xlink:label="ntrs_RedemptionsByIssuersMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_RedemptionsByIssuersMember_lbl" xml:lang="en-US" id="id_379234_532775_3_1">Redemptions by Issuers [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_RedemptionsByIssuersMember_lbl" xml:lang="en-US" id="id_379234_532775_1_1">Redemptions By Issuers [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_RedemptionsByIssuersMember_lbl" xml:lang="en-US" id="id_379234_532775_2_1">Redemptions by Issuers</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_RedemptionsByIssuersMember" xlink:to="ntrs_RedemptionsByIssuersMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_ReductionInPostretirementHealthCarePlanLiability" xlink:label="ntrs_ReductionInPostretirementHealthCarePlanLiability"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_ReductionInPostretirementHealthCarePlanLiability_lbl" xml:lang="en-US" id="id_379234_547963_3_1">Reduction in Postretirement Health Care Plan Liability</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_ReductionInPostretirementHealthCarePlanLiability_lbl" xml:lang="en-US" id="id_379234_547963_2_1">Reduction in postretirement health care plan liability</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_ReductionInPostretirementHealthCarePlanLiability" xlink:to="ntrs_ReductionInPostretirementHealthCarePlanLiability_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RepaymentsOfLongTermDebt" xlink:label="us-gaap_RepaymentsOfLongTermDebt"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RepaymentsOfLongTermDebt_lbl" xml:lang="en-US" id="id_379234_499971_1_1">Repayments Of Long Term Debt</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_RepaymentsOfLongTermDebt_lbl" xml:lang="en-US" id="id_379234_499971_8_1">Repayments of Senior Notes and Long-Term Debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfLongTermDebt" xlink:to="us-gaap_RepaymentsOfLongTermDebt_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_RepaymentsOfTermFederalFundsPurchased" xlink:label="ntrs_RepaymentsOfTermFederalFundsPurchased"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_RepaymentsOfTermFederalFundsPurchased_lbl" xml:lang="en-US" id="id_379234_520240_3_1">Repayments of Term Federal Funds Purchased.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_RepaymentsOfTermFederalFundsPurchased_lbl" xml:lang="en-US" id="id_379234_520240_1_1">Repayments Of Term Federal Funds Purchased</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="ntrs_RepaymentsOfTermFederalFundsPurchased_lbl" xml:lang="en-US" id="id_379234_520240_8_1">Repayments of Term Federal Funds Purchased</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_RepaymentsOfTermFederalFundsPurchased" xlink:to="ntrs_RepaymentsOfTermFederalFundsPurchased_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ResidentialMortgageBackedSecuritiesMember" xlink:label="us-gaap_ResidentialMortgageBackedSecuritiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ResidentialMortgageBackedSecuritiesMember_lbl" xml:lang="en-US" id="id_379234_500298_1_1">Residential Mortgage Backed Securities [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ResidentialMortgageBackedSecuritiesMember_lbl" xml:lang="en-US" id="id_379234_500298_2_1">Residential Mortgage-Backed</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ResidentialMortgageBackedSecuritiesMember" xlink:to="us-gaap_ResidentialMortgageBackedSecuritiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ResidentialPrimeFinancingReceivableMember" xlink:label="us-gaap_ResidentialPrimeFinancingReceivableMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ResidentialPrimeFinancingReceivableMember_lbl" xml:lang="en-US" id="id_379234_514511_1_1">Residential Prime Financing Receivable [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ResidentialPrimeFinancingReceivableMember_lbl" xml:lang="en-US" id="id_379234_514511_2_1">Prime</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ResidentialPrimeFinancingReceivableMember" xlink:to="us-gaap_ResidentialPrimeFinancingReceivableMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ResidentialRealEstateMember" xlink:label="us-gaap_ResidentialRealEstateMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ResidentialRealEstateMember_lbl" xml:lang="en-US" id="id_379234_500859_1_1">Residential Real Estate [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ResidentialRealEstateMember_lbl" xml:lang="en-US" id="id_379234_500859_2_1">Residential Real Estate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ResidentialRealEstateMember" xlink:to="us-gaap_ResidentialRealEstateMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_ResidentialSubprimeFinancingReceivableMember" xlink:label="us-gaap_ResidentialSubprimeFinancingReceivableMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ResidentialSubprimeFinancingReceivableMember_lbl" xml:lang="en-US" id="id_379234_501270_1_1">Residential Subprime Financing Receivable [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ResidentialSubprimeFinancingReceivableMember_lbl" xml:lang="en-US" id="id_379234_501270_2_1">Subprime</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ResidentialSubprimeFinancingReceivableMember" xlink:to="us-gaap_ResidentialSubprimeFinancingReceivableMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RestrictedAssetsDisclosureTextBlock" xlink:label="us-gaap_RestrictedAssetsDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RestrictedAssetsDisclosureTextBlock_lbl" xml:lang="en-US" id="id_379234_506806_1_1">Restricted Assets Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RestrictedAssetsDisclosureTextBlock_lbl" xml:lang="en-US" id="id_379234_506806_2_1">Pledged Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RestrictedAssetsDisclosureTextBlock" xlink:to="us-gaap_RestrictedAssetsDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_RestrictedStockAndRestrictedStockUnitsMember" xlink:label="ntrs_RestrictedStockAndRestrictedStockUnitsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_RestrictedStockAndRestrictedStockUnitsMember_lbl" xml:lang="en-US" id="id_379234_532456_3_1">Restricted Stock and Restricted Stock Units [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_RestrictedStockAndRestrictedStockUnitsMember_lbl" xml:lang="en-US" id="id_379234_532456_1_1">Restricted Stock And Restricted Stock Units [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_RestrictedStockAndRestrictedStockUnitsMember_lbl" xml:lang="en-US" id="id_379234_532456_2_1">Stock and Stock Unit Awards</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_RestrictedStockAndRestrictedStockUnitsMember" xlink:to="ntrs_RestrictedStockAndRestrictedStockUnitsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_RestrictedStockUnitsAndPerformanceStockUnitsMember" xlink:label="ntrs_RestrictedStockUnitsAndPerformanceStockUnitsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_RestrictedStockUnitsAndPerformanceStockUnitsMember_lbl" xml:lang="en-US" id="id_379234_536291_3_1">Restricted Stock Units and Performance Stock Units[Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_RestrictedStockUnitsAndPerformanceStockUnitsMember_lbl" xml:lang="en-US" id="id_379234_536291_1_1">Restricted Stock Units And Performance Stock Units [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_RestrictedStockUnitsAndPerformanceStockUnitsMember_lbl" xml:lang="en-US" id="id_379234_536291_2_1">Performance Stock Units</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_RestrictedStockUnitsAndPerformanceStockUnitsMember" xlink:to="ntrs_RestrictedStockUnitsAndPerformanceStockUnitsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xml:lang="en-US" id="id_379234_507557_1_1">Retained Earnings Accumulated Deficit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xml:lang="en-US" id="id_379234_507557_2_1">Retained Earnings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsAccumulatedDeficit" xlink:to="us-gaap_RetainedEarningsAccumulatedDeficit_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RetainedEarningsMember" xlink:label="us-gaap_RetainedEarningsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RetainedEarningsMember_lbl" xml:lang="en-US" id="id_379234_503287_1_1">Retained Earnings [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RetainedEarningsMember_lbl" xml:lang="en-US" id="id_379234_503287_2_1">Retained Earnings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsMember" xlink:to="us-gaap_RetainedEarningsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_RevenueIncludingFullyTaxableEquivalentAdjustment" xlink:label="ntrs_RevenueIncludingFullyTaxableEquivalentAdjustment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_RevenueIncludingFullyTaxableEquivalentAdjustment_lbl" xml:lang="en-US" id="id_379234_527217_3_1">Revenue Including Fully Taxable Equivalent Adjustment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_RevenueIncludingFullyTaxableEquivalentAdjustment_lbl" xml:lang="en-US" id="id_379234_527217_1_1">Revenue Including Fully Taxable Equivalent Adjustment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ntrs_RevenueIncludingFullyTaxableEquivalentAdjustment_lbl" xml:lang="en-US" id="id_379234_527217_6_1">Revenue</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RiskLevelLowMember" xlink:label="us-gaap_RiskLevelLowMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RiskLevelLowMember_lbl" xml:lang="en-US" id="id_379234_509366_1_1">Risk Level Low [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RiskLevelLowMember_lbl" xml:lang="en-US" id="id_379234_509366_2_1">1 to 3 Category</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RiskLevelLowMember" xlink:to="us-gaap_RiskLevelLowMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_RiskLevelMediumMember" xlink:label="us-gaap_RiskLevelMediumMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RiskLevelMediumMember_lbl" xml:lang="en-US" id="id_379234_498681_1_1">Risk Level Medium [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RiskLevelMediumMember_lbl" xml:lang="en-US" id="id_379234_498681_2_1">4 to 5 Category</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RiskLevelMediumMember" xlink:to="us-gaap_RiskLevelMediumMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_RiskManagementAndFairValueTableTextBlock" xlink:label="ntrs_RiskManagementAndFairValueTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_RiskManagementAndFairValueTableTextBlock_lbl" xml:lang="en-US" id="id_379234_547915_3_1">Risk Management Derivative Instruments' Notional and Fair Values Table.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_RiskManagementAndFairValueTableTextBlock_lbl" xml:lang="en-US" id="id_379234_547915_1_1">Risk Management And Fair Value Table [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_RiskManagementAndFairValueTableTextBlock_lbl" xml:lang="en-US" id="id_379234_547915_2_1">Types and Classifications of Risk Management Derivative Instruments Not Formally Designated as Hedges, Including Notional and Fair Values</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_SalariesWagesAndIncentives" xlink:label="ntrs_SalariesWagesAndIncentives"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_SalariesWagesAndIncentives_lbl" xml:lang="en-US" id="id_379234_520040_3_1">Expense recognized during the period for salary, share-based compensation, and other incentives incurred during the period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_SalariesWagesAndIncentives_lbl" xml:lang="en-US" id="id_379234_520040_1_1">Salaries Wages And Incentives</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_SalariesWagesAndIncentives_lbl" xml:lang="en-US" id="id_379234_520040_2_1">Compensation</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_SecondLienResidentialMortgageBackedSecuritiesMember_lbl" xml:lang="en-US" id="id_379234_535070_1_1">Second Lien Residential Mortgage Backed Securities [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_SecondLienResidentialMortgageBackedSecuritiesMember_lbl" xml:lang="en-US" id="id_379234_535070_2_1">2nd Lien</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_SecondLienResidentialMortgageBackedSecuritiesMember" xlink:to="ntrs_SecondLienResidentialMortgageBackedSecuritiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_SecuritiesAmortizedCost" xlink:label="ntrs_SecuritiesAmortizedCost"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_SecuritiesAmortizedCost_lbl" xml:lang="en-US" id="id_379234_521733_3_1">Securities, Amortized Cost</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_SecuritiesAmortizedCost_lbl" xml:lang="en-US" id="id_379234_521733_1_1">Securities Amortized Cost</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_SecuritiesAmortizedCost_lbl" xml:lang="en-US" id="id_379234_521733_2_1">Residential mortgage-backed securities total amortized cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_SecuritiesAmortizedCost" xlink:to="ntrs_SecuritiesAmortizedCost_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_SecuritiesAverageLife" xlink:label="ntrs_SecuritiesAverageLife"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_SecuritiesAverageLife_lbl" xml:lang="en-US" id="id_379234_519167_3_1">Securities Average Life</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_SecuritiesAverageLife_lbl" xml:lang="en-US" id="id_379234_519167_1_1">Securities Average Life</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_SecuritiesAverageLife_lbl" xml:lang="en-US" id="id_379234_519167_2_1">Average life</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_SecuritiesAverageLife" xlink:to="ntrs_SecuritiesAverageLife_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_SecuritiesContinuousUnrealizedLossPositionAggregateLosses" xlink:label="ntrs_SecuritiesContinuousUnrealizedLossPositionAggregateLosses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_SecuritiesContinuousUnrealizedLossPositionAggregateLosses_lbl" xml:lang="en-US" id="id_379234_521745_3_1">Amount of unrealized losses.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_SecuritiesContinuousUnrealizedLossPositionAggregateLosses_lbl" xml:lang="en-US" id="id_379234_521745_1_1">Securities Continuous Unrealized Loss Position Aggregate Losses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_SecuritiesContinuousUnrealizedLossPositionAggregateLosses_lbl" xml:lang="en-US" id="id_379234_521745_2_1">Total Unrealized Losses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_SecuritiesContinuousUnrealizedLossPositionAggregateLosses" xlink:to="ntrs_SecuritiesContinuousUnrealizedLossPositionAggregateLosses_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_SecuritiesContinuousUnrealizedLossPositionFairValue" xlink:label="ntrs_SecuritiesContinuousUnrealizedLossPositionFairValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_SecuritiesContinuousUnrealizedLossPositionFairValue_lbl" xml:lang="en-US" id="id_379234_521744_3_1">Securities, Continuous Unrealized Loss Position, Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_SecuritiesContinuousUnrealizedLossPositionFairValue_lbl" xml:lang="en-US" id="id_379234_521744_1_1">Securities Continuous Unrealized Loss Position Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_SecuritiesContinuousUnrealizedLossPositionFairValue_lbl" xml:lang="en-US" id="id_379234_521744_2_1">Total Fair Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_SecuritiesContinuousUnrealizedLossPositionFairValue" xlink:to="ntrs_SecuritiesContinuousUnrealizedLossPositionFairValue_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_SecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsAggregateLosses" xlink:label="ntrs_SecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsAggregateLosses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_SecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsAggregateLosses_lbl" xml:lang="en-US" id="id_379234_522609_3_1">Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Aggregate Losses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_SecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsAggregateLosses_lbl" xml:lang="en-US" id="id_379234_522609_1_1">Securities Continuous Unrealized Loss Position Less Than Twelve Months Aggregate Losses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_SecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsAggregateLosses_lbl" xml:lang="en-US" id="id_379234_522609_2_1">Less Than 12 Months Unrealized Losses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_SecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsAggregateLosses" xlink:to="ntrs_SecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsAggregateLosses_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_SecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue" xlink:label="ntrs_SecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_SecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue_lbl" xml:lang="en-US" id="id_379234_521742_3_1">Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_SecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue_lbl" xml:lang="en-US" id="id_379234_521742_1_1">Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_SecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue_lbl" xml:lang="en-US" id="id_379234_521742_2_1">Less Than 12 Months Fair Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_SecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue" xlink:to="ntrs_SecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_SecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerAggregateLosses" xlink:label="ntrs_SecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerAggregateLosses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_SecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerAggregateLosses_lbl" xml:lang="en-US" id="id_379234_522610_3_1">Unrealized losses for securities that have been in an unrealized loss position for more than 12 months.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_SecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerAggregateLosses_lbl" xml:lang="en-US" id="id_379234_522610_1_1">Securities Continuous Unrealized Loss Position Twelve Months Or Longer Aggregate Losses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_SecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerAggregateLosses_lbl" xml:lang="en-US" id="id_379234_522610_2_1">12 Months or Longer Unrealized Losses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_SecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerAggregateLosses" xlink:to="ntrs_SecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerAggregateLosses_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_SecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue" xlink:label="ntrs_SecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_SecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue_lbl" xml:lang="en-US" id="id_379234_521743_3_1">Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_SecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue_lbl" xml:lang="en-US" id="id_379234_521743_1_1">Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_SecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue_lbl" xml:lang="en-US" id="id_379234_521743_2_1">12 Months or Longer Fair Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_SecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue" xlink:to="ntrs_SecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_SecuritiesFairValue" xlink:label="ntrs_SecuritiesFairValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_SecuritiesFairValue_lbl" xml:lang="en-US" id="id_379234_521736_3_1">Securities, Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_SecuritiesFairValue_lbl" xml:lang="en-US" id="id_379234_521736_1_1">Securities Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_SecuritiesFairValue_lbl" xml:lang="en-US" id="id_379234_521736_2_1">Residential mortgage-backed securities fair value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_SecuritiesFairValue" xlink:to="ntrs_SecuritiesFairValue_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SecuritiesHeldAsCollateralAtFairValue" xlink:label="us-gaap_SecuritiesHeldAsCollateralAtFairValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SecuritiesHeldAsCollateralAtFairValue_lbl" xml:lang="en-US" id="id_379234_505291_1_1">Securities Held As Collateral At Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SecuritiesHeldAsCollateralAtFairValue_lbl" xml:lang="en-US" id="id_379234_505291_2_1">Fair value of accepted collateral</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SecuritiesHeldAsCollateralAtFairValue" xlink:to="us-gaap_SecuritiesHeldAsCollateralAtFairValue_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SecuritiesInvestmentMember" xlink:label="us-gaap_SecuritiesInvestmentMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SecuritiesInvestmentMember_lbl" xml:lang="en-US" id="id_379234_502057_1_1">Securities Investment [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SecuritiesInvestmentMember_lbl" xml:lang="en-US" id="id_379234_502057_2_1">Securities Investment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SecuritiesInvestmentMember" xlink:to="us-gaap_SecuritiesInvestmentMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_SecuritiesLendingRelatedCollateralMaintenance" xlink:label="ntrs_SecuritiesLendingRelatedCollateralMaintenance"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_SecuritiesLendingRelatedCollateralMaintenance_lbl" xml:lang="en-US" id="id_379234_540409_3_1">Minimum percentage of collateral maintained for client securities loaned at the fair value of securities plus interest.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_SecuritiesLendingRelatedCollateralMaintenance_lbl" xml:lang="en-US" id="id_379234_540409_1_1">Securities Lending Related Collateral Maintenance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_SecuritiesLendingRelatedCollateralMaintenance_lbl" xml:lang="en-US" id="id_379234_540409_2_1">Minimum securities lending related collateral percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_SecuritiesLendingRelatedCollateralMaintenance" xlink:to="ntrs_SecuritiesLendingRelatedCollateralMaintenance_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_SecuritiesLoanedSubjectToIndemnification" xlink:label="ntrs_SecuritiesLoanedSubjectToIndemnification"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_SecuritiesLoanedSubjectToIndemnification_lbl" xml:lang="en-US" id="id_379234_522106_3_1">Amount of client securities loaned that are subject to indemnification as of the balance sheet date.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_SecuritiesLoanedSubjectToIndemnification_lbl" xml:lang="en-US" id="id_379234_522106_1_1">Securities Loaned Subject To Indemnification</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_SecuritiesLoanedSubjectToIndemnification_lbl" xml:lang="en-US" id="id_379234_522106_2_1">Collateralized securities loaned, subject to indemnification</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_SecuritiesLoanedSubjectToIndemnification" xlink:to="ntrs_SecuritiesLoanedSubjectToIndemnification_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SecuritiesSoldUnderAgreementsToRepurchase" xlink:label="us-gaap_SecuritiesSoldUnderAgreementsToRepurchase"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SecuritiesSoldUnderAgreementsToRepurchase_lbl" xml:lang="en-US" id="id_379234_501644_1_1">Securities Sold Under Agreements To Repurchase</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SecuritiesSoldUnderAgreementsToRepurchase_lbl" xml:lang="en-US" id="id_379234_501644_2_1">Securities Sold under Agreements to Repurchase</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SecuritiesSoldUnderAgreementsToRepurchase" xlink:to="us-gaap_SecuritiesSoldUnderAgreementsToRepurchase_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_SecurityCommissionsandTradingIncome" xlink:label="ntrs_SecurityCommissionsandTradingIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_SecurityCommissionsandTradingIncome_lbl" xml:lang="en-US" id="id_379234_519806_3_1">Revenues earned for buying and selling securities on behalf of clients and other fees including fees earned for transitioning assets between investment firms, fees earned for buying and selling interest rate protection products, and other fees.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_SecurityCommissionsandTradingIncome_lbl" xml:lang="en-US" id="id_379234_519806_1_1">Security Commissionsand Trading Income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_SecurityCommissionsandTradingIncome_lbl" xml:lang="en-US" id="id_379234_519806_2_1">Security Commissions and Trading Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_SecurityCommissionsandTradingIncome" xlink:to="ntrs_SecurityCommissionsandTradingIncome_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_SecurityCommissionsAndTradingIncomeMember" xlink:label="ntrs_SecurityCommissionsAndTradingIncomeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_SecurityCommissionsAndTradingIncomeMember_lbl" xml:lang="en-US" id="id_379234_536109_3_1">Security Commissions and Trading Income [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_SecurityCommissionsAndTradingIncomeMember_lbl" xml:lang="en-US" id="id_379234_536109_1_1">Security Commissions And Trading Income [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_SecurityCommissionsAndTradingIncomeMember_lbl" xml:lang="en-US" id="id_379234_536109_2_1">Security Commissions and Trading Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_SecurityCommissionsAndTradingIncomeMember" xlink:to="ntrs_SecurityCommissionsAndTradingIncomeMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SecurityOwnedAndPledgedAsCollateralFairValue" xlink:label="us-gaap_SecurityOwnedAndPledgedAsCollateralFairValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SecurityOwnedAndPledgedAsCollateralFairValue_lbl" xml:lang="en-US" id="id_379234_508621_1_1">Security Owned And Pledged As Collateral Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SecurityOwnedAndPledgedAsCollateralFairValue_lbl" xml:lang="en-US" id="id_379234_508621_2_1">Amount of securities and loans pledged</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SecurityOwnedAndPledgedAsCollateralFairValue" xlink:to="us-gaap_SecurityOwnedAndPledgedAsCollateralFairValue_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SegmentDomain" xlink:label="us-gaap_SegmentDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SegmentDomain_lbl" xml:lang="en-US" id="id_379234_514551_1_1">Segment [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SegmentDomain_lbl" xml:lang="en-US" id="id_379234_514551_2_1">Segment [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentDomain" xlink:to="us-gaap_SegmentDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_SegmentReportingDisclosureTextBlock" xlink:label="us-gaap_SegmentReportingDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SegmentReportingDisclosureTextBlock_lbl" xml:lang="en-US" id="id_379234_512246_1_1">Segment Reporting Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SegmentReportingDisclosureTextBlock_lbl" xml:lang="en-US" id="id_379234_512246_2_1">Business Units</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_SeniorUnsecuredNotesTwoPointThreeSevenFivePercentDueAugustTwoTwentyTwentyTwoMember_lbl" xml:lang="en-US" id="id_379234_617914_3_1">Senior Unsecured Notes, Two Point Three Seven Five Percent, Due August Two, Twenty Twenty Two [Member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_TradingSecurities_lbl" xml:lang="en-US" id="id_379234_498059_2_1">Trading Account</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TradingSecurities" xlink:to="us-gaap_TradingSecurities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2012/dei-2012-01-31.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_TradingSymbol_lbl" xml:lang="en-US" id="id_379234_497703_1_1">Trading Symbol</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_TradingSymbol_lbl" xml:lang="en-US" id="id_379234_497703_2_1">Trading Symbol</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_TransferOfOtherRealEstate" xlink:label="us-gaap_TransferOfOtherRealEstate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TransferOfOtherRealEstate_lbl" xml:lang="en-US" id="id_379234_500888_1_1">Transfer Of Other Real Estate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_TransferOfOtherRealEstate_lbl" xml:lang="en-US" id="id_379234_500888_2_1">Transfers from Loans to OREO</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TransferOfOtherRealEstate" xlink:to="us-gaap_TransferOfOtherRealEstate_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:label="us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_lbl" xml:lang="en-US" id="id_379234_511409_1_1">Transfers And Servicing Of Financial Instruments Types Of Financial Instruments [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_lbl" xml:lang="en-US" id="id_379234_511409_2_1">Types of Financial Instruments [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:to="us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_TreasuryAndOtherMember" xlink:label="ntrs_TreasuryAndOtherMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_TreasuryAndOtherMember_lbl" xml:lang="en-US" id="id_379234_531243_3_1">Treasury and Other [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_TreasuryAndOtherMember_lbl" xml:lang="en-US" id="id_379234_531243_1_1">Treasury And Other [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_TreasuryAndOtherMember_lbl" xml:lang="en-US" id="id_379234_531243_2_1">Treasury and Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_TreasuryAndOtherMember" xlink:to="ntrs_TreasuryAndOtherMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_TreasuryManagementFees" xlink:label="ntrs_TreasuryManagementFees"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_TreasuryManagementFees_lbl" xml:lang="en-US" id="id_379234_519808_3_1">Fees earned from treasury management activities including disbursements and receivables management, funds transfer, and online reporting.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_TreasuryManagementFees_lbl" xml:lang="en-US" id="id_379234_519808_1_1">Treasury Management Fees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_TreasuryManagementFees_lbl" xml:lang="en-US" id="id_379234_519808_2_1">Treasury Management Fees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_TreasuryManagementFees" xlink:to="ntrs_TreasuryManagementFees_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_TreasuryStockMember" xlink:label="us-gaap_TreasuryStockMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TreasuryStockMember_lbl" xml:lang="en-US" id="id_379234_502884_1_1">Treasury Stock [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_TreasuryStockMember_lbl" xml:lang="en-US" id="id_379234_502884_2_1">Treasury Stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockMember" xlink:to="us-gaap_TreasuryStockMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_TreasuryStockShares" xlink:label="us-gaap_TreasuryStockShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TreasuryStockShares_lbl" xml:lang="en-US" id="id_379234_503408_1_1">Treasury Stock Shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_TreasuryStockShares_lbl" xml:lang="en-US" id="id_379234_503408_2_1">Treasury Stock, shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockShares" xlink:to="us-gaap_TreasuryStockShares_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_TreasuryStockValue" xlink:label="us-gaap_TreasuryStockValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TreasuryStockValue_lbl" xml:lang="en-US" id="id_379234_509721_1_1">Treasury Stock Value</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_TreasuryStockValue_lbl" xml:lang="en-US" id="id_379234_509721_8_1">Treasury Stock (5,372,395 and 4,163,015 shares, at cost)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockValue" xlink:to="us-gaap_TreasuryStockValue_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_TreasuryStockValueAcquiredCostMethod" xlink:label="us-gaap_TreasuryStockValueAcquiredCostMethod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TreasuryStockValueAcquiredCostMethod_lbl" xml:lang="en-US" id="id_379234_504960_1_1">Treasury Stock Value Acquired Cost Method</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_TreasuryStockValueAcquiredCostMethod_lbl" xml:lang="en-US" id="id_379234_504960_8_1">Stock Purchased</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockValueAcquiredCostMethod" xlink:to="us-gaap_TreasuryStockValueAcquiredCostMethod_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_TrustInvestmentAndOtherServicingFees" xlink:label="ntrs_TrustInvestmentAndOtherServicingFees"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_TrustInvestmentAndOtherServicingFees_lbl" xml:lang="en-US" id="id_379234_519809_3_1">Revenue recognized in the period for trust, investment management, custody, securities lending, and other servicing fees. Fees are based generally on the market value of assets held in custody, managed and serviced; the volume of transactions; securities lending volume and spreads; and fees for other services rendered.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_TrustInvestmentAndOtherServicingFees_lbl" xml:lang="en-US" id="id_379234_519809_1_1">Trust Investment And Other Servicing Fees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_TrustInvestmentAndOtherServicingFees_lbl" xml:lang="en-US" id="id_379234_519809_2_1">Noninterest Income Trust, Investment and Other Servicing Fees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ntrs_TrustInvestmentAndOtherServicingFees_lbl" xml:lang="en-US" id="id_379234_519809_12_1">Trust, Investment and Other Servicing Fees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_TrustInvestmentAndOtherServicingFees" xlink:to="ntrs_TrustInvestmentAndOtherServicingFees_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_TrustPreferredSecurities" xlink:label="ntrs_TrustPreferredSecurities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_TrustPreferredSecurities_lbl" xml:lang="en-US" id="id_379234_521402_3_1">Amount of floating rate capital debt held by the company that have an unconditional obligation requiring the issuer to redeem the securities by transferring the assets at a specified or determinable date (or dates) or upon an event that is certain to occur. The debt was issued by a business trust to outside investors where the trust uses the proceeds of the issuance of those securities to purchase, from the financial institution that established the trust, an equivalent amount of junior subordinated debentures or other loans having stated maturities. The floating rate capital debt must be redeemed upon maturity of the debentures or other loans.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_TrustPreferredSecurities_lbl" xml:lang="en-US" id="id_379234_521402_1_1">Trust Preferred Securities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_TrustPreferredSecurities_lbl" xml:lang="en-US" id="id_379234_521402_2_1">Floating Rate Capital Debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_TrustPreferredSecurities" xlink:to="ntrs_TrustPreferredSecurities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_TypeOfArrangementAxis" xlink:label="us-gaap_TypeOfArrangementAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TypeOfArrangementAxis_lbl" xml:lang="en-US" id="id_379234_514782_1_1">Type Of Arrangement [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_TypeOfArrangementAxis_lbl" xml:lang="en-US" id="id_379234_514782_2_1">Type of Arrangement and Non-arrangement Transactions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TypeOfArrangementAxis" xlink:to="us-gaap_TypeOfArrangementAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_TypeOfInvestmentHoldingsDomain" xlink:label="ntrs_TypeOfInvestmentHoldingsDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_TypeOfInvestmentHoldingsDomain_lbl" xml:lang="en-US" id="id_379234_532984_3_1">Type of Investment Holdings [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_TypeOfInvestmentHoldingsDomain_lbl" xml:lang="en-US" id="id_379234_532984_1_1">Type Of Investment Holdings [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_TypeOfInvestmentHoldingsDomain_lbl" xml:lang="en-US" id="id_379234_532984_2_1">Type of Investment Holdings [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_TypeOfInvestmentHoldingsDomain" xlink:to="ntrs_TypeOfInvestmentHoldingsDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_UndistributedEarningsAllocatedToParticipatingSecurities" xlink:label="us-gaap_UndistributedEarningsAllocatedToParticipatingSecurities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_UndistributedEarningsAllocatedToParticipatingSecurities_lbl" xml:lang="en-US" id="id_379234_502596_1_1">Undistributed Earnings Allocated To Participating Securities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_UndistributedEarningsAllocatedToParticipatingSecurities_lbl" xml:lang="en-US" id="id_379234_502596_2_1">Less: Earnings Allocated to Participating Securities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UndistributedEarningsAllocatedToParticipatingSecurities" xlink:to="us-gaap_UndistributedEarningsAllocatedToParticipatingSecurities_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_UnfundedCommitmentsAndStandbyLettersOfCreditAllowance" xlink:label="ntrs_UnfundedCommitmentsAndStandbyLettersOfCreditAllowance"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_UnfundedCommitmentsAndStandbyLettersOfCreditAllowance_lbl" xml:lang="en-US" id="id_379234_522790_3_1">Reflects the allowance for credit losses assigned to unfunded commitments and standby letters of credit as of the balance sheet date.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_UnfundedCommitmentsAndStandbyLettersOfCreditAllowance_lbl" xml:lang="en-US" id="id_379234_522790_1_1">Unfunded Commitments And Standby Letters Of Credit Allowance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_UnfundedCommitmentsAndStandbyLettersOfCreditAllowance_lbl" xml:lang="en-US" id="id_379234_522790_2_1">Allowance for Unfunded Exposures Commitments and Standby Letters of Credit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_UnfundedCommitmentsAndStandbyLettersOfCreditAllowance" xlink:to="ntrs_UnfundedCommitmentsAndStandbyLettersOfCreditAllowance_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_UnitedStatesPensionPlansOfUSEntityDefinedBenefitMember" xlink:label="us-gaap_UnitedStatesPensionPlansOfUSEntityDefinedBenefitMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_UnitedStatesPensionPlansOfUSEntityDefinedBenefitMember_lbl" xml:lang="en-US" id="id_379234_507117_1_1">United States Pension Plans Of U S Entity Defined Benefit [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_UnitedStatesPensionPlansOfUSEntityDefinedBenefitMember_lbl" xml:lang="en-US" id="id_379234_507117_2_1">U.S. Plan</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnitedStatesPensionPlansOfUSEntityDefinedBenefitMember" xlink:to="us-gaap_UnitedStatesPensionPlansOfUSEntityDefinedBenefitMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_UnrealizedGainsLossesOnCashFlowHedgesMember" xlink:label="ntrs_UnrealizedGainsLossesOnCashFlowHedgesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_UnrealizedGainsLossesOnCashFlowHedgesMember_lbl" xml:lang="en-US" id="id_379234_599065_3_1">Unrealized Gains (Losses) on Cash Flow Hedges [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_UnrealizedGainsLossesOnCashFlowHedgesMember_lbl" xml:lang="en-US" id="id_379234_599065_1_1">Unrealized Gains Losses On Cash Flow Hedges [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_UnrealizedGainsLossesOnCashFlowHedgesMember_lbl" xml:lang="en-US" id="id_379234_599065_2_1">Unrealized Gains (Losses) on Cash Flow Hedges</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_UnrealizedGainsLossesOnCashFlowHedgesMember" xlink:to="ntrs_UnrealizedGainsLossesOnCashFlowHedgesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_UnrealizedLossPositionInvestmentsTextBlock" xlink:label="ntrs_UnrealizedLossPositionInvestmentsTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_UnrealizedLossPositionInvestmentsTextBlock_lbl" xml:lang="en-US" id="id_379234_538339_3_1">Unrealized Loss Position Investments [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_UnrealizedLossPositionInvestmentsTextBlock_lbl" xml:lang="en-US" id="id_379234_538339_1_1">Unrealized Loss Position Investments [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_UnrealizedLossPositionInvestmentsTextBlock_lbl" xml:lang="en-US" id="id_379234_538339_2_1">Securities Continuous Unrealized Loss Position</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_UnrealizedLossPositionInvestmentsTextBlock" xlink:to="ntrs_UnrealizedLossPositionInvestmentsTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_UpperLimitOfGenerallyRequiredLoanToCollateralValueForResidentialRealEstateLoans" xlink:label="ntrs_UpperLimitOfGenerallyRequiredLoanToCollateralValueForResidentialRealEstateLoans"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_UpperLimitOfGenerallyRequiredLoanToCollateralValueForResidentialRealEstateLoans_lbl" xml:lang="en-US" id="id_379234_541271_3_1">Upper Limit of Generally Required Loan to Collateral Value for Residential Real Estate loans</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_UpperLimitOfGenerallyRequiredLoanToCollateralValueForResidentialRealEstateLoans_lbl" xml:lang="en-US" id="id_379234_541271_1_1">Upper Limit Of Generally Required Loan To Collateral Value For Residential Real Estate Loans</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_UpperLimitOfGenerallyRequiredLoanToCollateralValueForResidentialRealEstateLoans_lbl" xml:lang="en-US" id="id_379234_541271_2_1">Collateral required on Residential real estate loan</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_UpperLimitOfGenerallyRequiredLoanToCollateralValueForResidentialRealEstateLoans" xlink:to="ntrs_UpperLimitOfGenerallyRequiredLoanToCollateralValueForResidentialRealEstateLoans_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_USGovernmentAgenciesDebtSecuritiesMember" xlink:label="us-gaap_USGovernmentAgenciesDebtSecuritiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_USGovernmentAgenciesDebtSecuritiesMember_lbl" xml:lang="en-US" id="id_379234_504979_1_1">U S Government Agencies Debt Securities [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_USGovernmentAgenciesDebtSecuritiesMember_lbl" xml:lang="en-US" id="id_379234_504979_2_1">Government Sponsored Agency</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_USGovernmentCorporationsAndAgenciesSecuritiesMember" xlink:label="us-gaap_USGovernmentCorporationsAndAgenciesSecuritiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_USGovernmentCorporationsAndAgenciesSecuritiesMember_lbl" xml:lang="en-US" id="id_379234_500661_1_1">U S Government Corporations And Agencies Securities [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_USGovernmentCorporationsAndAgenciesSecuritiesMember_lbl" xml:lang="en-US" id="id_379234_500661_2_1">US Government Corporations and Agencies Securities</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_USStatesAndPoliticalSubdivisionsMember" xlink:label="us-gaap_USStatesAndPoliticalSubdivisionsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_USStatesAndPoliticalSubdivisionsMember_lbl" xml:lang="en-US" id="id_379234_510124_1_1">U S States And Political Subdivisions [Member]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_USTreasuryAndGovernmentMember" xlink:label="us-gaap_USTreasuryAndGovernmentMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_USTreasuryAndGovernmentMember_lbl" xml:lang="en-US" id="id_379234_513607_1_1">U S Treasury And Government [Member]</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_ValuationTechniquesSignificantUnobservableInputsDiscount" xlink:label="ntrs_ValuationTechniquesSignificantUnobservableInputsDiscount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_ValuationTechniquesSignificantUnobservableInputsDiscount_lbl" xml:lang="en-US" id="id_379234_598910_3_1">Discount applied to the valuation to reflect net realizable value of the financial instrument.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_ValuationTechniquesSignificantUnobservableInputsDiscount_lbl" xml:lang="en-US" id="id_379234_598910_1_1">Valuation Techniques Significant Unobservable Inputs Discount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_ValuationTechniquesSignificantUnobservableInputsDiscount_lbl" xml:lang="en-US" id="id_379234_598910_2_1">Discount</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount" xlink:label="us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount_lbl" xml:lang="en-US" id="id_379234_510065_1_1">Variable Interest Entity Entity Maximum Loss Exposure Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_VariableInterestEntityEntityMaximumLossExposureAmount_lbl" xml:lang="en-US" id="id_379234_510065_2_1">Maximum exposure</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_VariableInterestEntityLineItems" xlink:label="us-gaap_VariableInterestEntityLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_VariableInterestEntityLineItems_lbl" xml:lang="en-US" id="id_379234_511792_1_1">Variable Interest Entity [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_VariableInterestEntityLineItems_lbl" xml:lang="en-US" id="id_379234_511792_2_1">Variable Interest Entity [Line Items]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountAssets" xlink:label="us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountAssets_lbl" xml:lang="en-US" id="id_379234_509936_1_1">Variable Interest Entity Nonconsolidated Carrying Amount Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountAssets_lbl" xml:lang="en-US" id="id_379234_509936_2_1">Carrying amounts</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountLiabilities" xlink:label="us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountLiabilities_lbl" xml:lang="en-US" id="id_379234_514810_1_1">Variable Interest Entity Nonconsolidated Carrying Amount Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountLiabilities_lbl" xml:lang="en-US" id="id_379234_514810_2_1">Liabilities related to unfunded commitments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountLiabilities" xlink:to="us-gaap_VariableInterestEntityNonconsolidatedCarryingAmountLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_VisaIndemnificationChargesBenefit" xlink:label="ntrs_VisaIndemnificationChargesBenefit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_VisaIndemnificationChargesBenefit_lbl" xml:lang="en-US" id="id_379234_521403_3_1">Visa indemnification (charges) benefit recorded during the period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_VisaIndemnificationChargesBenefit_lbl" xml:lang="en-US" id="id_379234_521403_1_1">Visa Indemnification Charges Benefit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_VisaIndemnificationChargesBenefit_lbl" xml:lang="en-US" id="id_379234_521403_2_1">Visa Indemnification Benefit</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="ntrs_VisaIndemnificationChargesBenefit_lbl" xml:lang="en-US" id="id_379234_521403_8_1">Visa indemnified litigation benefit (charges) recorded</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_VisaIndemnificationChargesBenefit" xlink:to="ntrs_VisaIndemnificationChargesBenefit_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_VisaRedemptionGain" xlink:label="ntrs_VisaRedemptionGain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_VisaRedemptionGain_lbl" xml:lang="en-US" id="id_379234_519991_3_1">A gain on the mandatory redemption of the shares of the entity's unconsolidated entity in connection with an initial public offering.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_VisaRedemptionGain_lbl" xml:lang="en-US" id="id_379234_519991_1_1">Visa Redemption Gain</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_VisaRedemptionGain_lbl" xml:lang="en-US" id="id_379234_519991_2_1">Gain on redemption of Visa common stock</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20120930.xsd#ntrs_WatchListMember" xlink:label="ntrs_WatchListMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_WatchListMember_lbl" xml:lang="en-US" id="id_379234_535015_3_1">A loan whose risk assessment indicates the need for enhanced monitoring by the entity.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_WatchListMember_lbl" xml:lang="en-US" id="id_379234_535015_1_1">Watch List [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_WatchListMember_lbl" xml:lang="en-US" id="id_379234_535015_2_1">6 to 9 Category (Watch List)</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2012/elts/us-gaap-2012-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xml:lang="en-US" id="id_379234_507210_1_1">Weighted Average Number Of Diluted Shares Outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xml:lang="en-US" id="id_379234_507210_2_1">Average Number of Common Shares Outstanding - Diluted</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xml:lang="en-US" id="id_379234_510080_1_1">Weighted Average Number Of Shares Outstanding Basic</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xml:lang="en-US" id="id_379234_510080_2_1">Average Number of Common Shares Outstanding</label>
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