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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_BasisOfPresentationPolicyTextBlock_lbl" xml:lang="en-US">Basis of Presentation</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BuildingMember_lbl" xml:lang="en-US">Building [Member]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="us-gaap_BusinessAcquisitionAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionAxis_lbl" xml:lang="en-US">Business Acquisition [Axis]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionAxis" xlink:to="us-gaap_BusinessAcquisitionAxis_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionContingentConsiderationAtFairValue_lbl" xml:lang="en-US">Business Acquisition Contingent Consideration At Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:label="us-gaap_BusinessAcquisitionContingentConsiderationAtFairValue_lbl" xml:lang="en-US">Fair value of contingent consideration</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionContingentConsiderationAtFairValue" xlink:to="us-gaap_BusinessAcquisitionContingentConsiderationAtFairValue_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionCostOfAcquiredEntityCashPaid" xlink:label="us-gaap_BusinessAcquisitionCostOfAcquiredEntityCashPaid"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionCostOfAcquiredEntityCashPaid_lbl" xml:lang="en-US">Business Acquisition Cost Of Acquired Entity Cash Paid</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessAcquisitionCostOfAcquiredEntityCashPaid_lbl" xml:lang="en-US">Business acquisition cash paid</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionCostOfAcquiredEntityCashPaid" xlink:to="us-gaap_BusinessAcquisitionCostOfAcquiredEntityCashPaid_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionCostOfAcquiredEntityOtherNoncashConsideration_lbl" xml:lang="en-US">Business Acquisition Cost Of Acquired Entity Other Noncash Consideration</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessAcquisitionCostOfAcquiredEntityOtherNoncashConsideration_lbl" xml:lang="en-US">Business acquisition contingent consideration</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionCostOfAcquiredEntityOtherNoncashConsideration" xlink:to="us-gaap_BusinessAcquisitionCostOfAcquiredEntityOtherNoncashConsideration_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice" xlink:label="us-gaap_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice_lbl" xml:lang="en-US">Business Acquisition Cost Of Acquired Entity Purchase Price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice_lbl" xml:lang="en-US">Business acquisition purchase price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice" xlink:to="us-gaap_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionPurchasePriceAllocationAmortizableIntangibleAssets" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationAmortizableIntangibleAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationAmortizableIntangibleAssets_lbl" xml:lang="en-US">Business Acquisition Purchase Price Allocation Amortizable Intangible Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationAmortizableIntangibleAssets_lbl" xml:lang="en-US">Business acquisition purchase price allocated to other intangible assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionPurchasePriceAllocationAmortizableIntangibleAssets" xlink:to="us-gaap_BusinessAcquisitionPurchasePriceAllocationAmortizableIntangibleAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionPurchasePriceAllocationGoodwillAmount" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationGoodwillAmount"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationGoodwillAmount_lbl" xml:lang="en-US">Business Acquisition Purchase Price Allocation Goodwill Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BusinessAcquisitionPurchasePriceAllocationGoodwillAmount_lbl" xml:lang="en-US">Business acquisition purchase price allocated to goodwill</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionPurchasePriceAllocationGoodwillAmount" xlink:to="us-gaap_BusinessAcquisitionPurchasePriceAllocationGoodwillAmount_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_BusinessCombinationContingentConsiderationArrangementsAgreementPeriod" xlink:label="ntrs_BusinessCombinationContingentConsiderationArrangementsAgreementPeriod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_BusinessCombinationContingentConsiderationArrangementsAgreementPeriod_lbl" xml:lang="en-US">Business Combination, Contingent Consideration Arrangements, Agreement Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_BusinessCombinationContingentConsiderationArrangementsAgreementPeriod_lbl" xml:lang="en-US">Business Combination Contingent Consideration Arrangements Agreement Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_BusinessCombinationContingentConsiderationArrangementsAgreementPeriod_lbl" xml:lang="en-US">Business acquisition purchase price adjustment period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_BusinessCombinationContingentConsiderationArrangementsAgreementPeriod" xlink:to="ntrs_BusinessCombinationContingentConsiderationArrangementsAgreementPeriod_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_CaliforniaStateMember" xlink:label="ntrs_CaliforniaStateMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CaliforniaStateMember_lbl" xml:lang="en-US">California State [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CaliforniaStateMember_lbl" xml:lang="en-US">California State [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CaliforniaStateMember_lbl" xml:lang="en-US">California State</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CaliforniaStateMember" xlink:to="ntrs_CaliforniaStateMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Capital" xlink:label="us-gaap_Capital"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Capital_lbl" xml:lang="en-US">Capital</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_Capital_lbl" xml:lang="en-US">ACTUAL AMOUNT</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Capital" xlink:to="us-gaap_Capital_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalAbstract" xlink:label="us-gaap_CapitalAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalAbstract_lbl" xml:lang="en-US">Capital [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CapitalAbstract_lbl" xml:lang="en-US">Total Capital to Risk-Weighted Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalAbstract" xlink:to="us-gaap_CapitalAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeaseObligations" xlink:label="us-gaap_CapitalLeaseObligations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalLeaseObligations_lbl" xml:lang="en-US">Capital Lease Obligations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CapitalLeaseObligations_lbl" xml:lang="en-US">Capital Lease Obligations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeaseObligations" xlink:to="us-gaap_CapitalLeaseObligations_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDue" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDue_lbl" xml:lang="en-US">Capital Leases Future Minimum Payments Due</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDue_lbl" xml:lang="en-US">Total Minimum Lease Payments, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsDue" xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsDue_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent_lbl" xml:lang="en-US">Capital Leases Future Minimum Payments Due Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent_lbl" xml:lang="en-US">2012</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent" xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears_lbl" xml:lang="en-US">Capital Leases Future Minimum Payments Due In Five Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears_lbl" xml:lang="en-US">2016</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears" xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears_lbl" xml:lang="en-US">Capital Leases Future Minimum Payments Due In Four Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears_lbl" xml:lang="en-US">2015</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears" xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears_lbl" xml:lang="en-US">Capital Leases Future Minimum Payments Due In Three Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears_lbl" xml:lang="en-US">2014</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears" xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears_lbl" xml:lang="en-US">Capital Leases Future Minimum Payments Due In Two Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears_lbl" xml:lang="en-US">2013</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears" xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter_lbl" xml:lang="en-US">Capital Leases Future Minimum Payments Due Thereafter</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter_lbl" xml:lang="en-US">Later Years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter" xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments_lbl" xml:lang="en-US">Capital Leases Future Minimum Payments Interest Included In Payments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments_lbl" xml:lang="en-US">Less: Amount Representing Interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments" xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments_lbl" xml:lang="en-US">Capital Leases Future Minimum Payments Present Value Of Net Minimum Payments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments_lbl" xml:lang="en-US">Net Present Value under Capital Lease Obligations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments" xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableCurrent" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableCurrent_lbl" xml:lang="en-US">Capital Leases Future Minimum Payments Receivable Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableCurrent_lbl" xml:lang="en-US">2012</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableCurrent" xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableCurrent_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInFiveYears" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInFiveYears"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInFiveYears_lbl" xml:lang="en-US">Capital Leases Future Minimum Payments Receivable In Five Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInFiveYears_lbl" xml:lang="en-US">2016</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInFiveYears" xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInFiveYears_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInFourYears" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInFourYears"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInFourYears_lbl" xml:lang="en-US">Capital Leases Future Minimum Payments Receivable In Four Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInFourYears_lbl" xml:lang="en-US">2015</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInFourYears" xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInFourYears_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInThreeYears" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInThreeYears"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInThreeYears_lbl" xml:lang="en-US">Capital Leases Future Minimum Payments Receivable In Three Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInThreeYears_lbl" xml:lang="en-US">2014</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInThreeYears" xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInThreeYears_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInTwoYears" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInTwoYears"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInTwoYears_lbl" xml:lang="en-US">Capital Leases Future Minimum Payments Receivable In Two Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInTwoYears_lbl" xml:lang="en-US">2013</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInTwoYears" xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInTwoYears_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeases" xlink:label="us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeases"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeases_lbl" xml:lang="en-US">Capital Leases Net Investment In Direct Financing Leases</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeases_lbl" xml:lang="en-US">Investment in Direct Finance Leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeases" xlink:to="us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeases_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesAbstract" xlink:label="us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesAbstract_lbl" xml:lang="en-US">Capital Leases Net Investment In Direct Financing Leases [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesAbstract_lbl" xml:lang="en-US">Direct Finance Leases:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesAbstract" xlink:to="us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesDeferredIncome" xlink:label="us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesDeferredIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesDeferredIncome_lbl" xml:lang="en-US">Capital Leases Net Investment In Direct Financing Leases Deferred Income</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesDeferredIncome_lbl" xml:lang="en-US">Unearned Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesDeferredIncome" xlink:to="us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesDeferredIncome_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesInitialDirectCosts" xlink:label="us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesInitialDirectCosts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesInitialDirectCosts_lbl" xml:lang="en-US">Capital Leases Net Investment In Direct Financing Leases Initial Direct Costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesInitialDirectCosts_lbl" xml:lang="en-US">Initial Direct Costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesInitialDirectCosts" xlink:to="us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesInitialDirectCosts_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesMinimumPaymentsToBeReceived" xlink:label="us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesMinimumPaymentsToBeReceived"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesMinimumPaymentsToBeReceived_lbl" xml:lang="en-US">Capital Leases Net Investment In Direct Financing Leases Minimum Payments To Be Received</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesMinimumPaymentsToBeReceived_lbl" xml:lang="en-US">Lease Receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesMinimumPaymentsToBeReceived" xlink:to="us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesMinimumPaymentsToBeReceived_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesUnguaranteedResidualValuesOfLeasedProperty" xlink:label="us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesUnguaranteedResidualValuesOfLeasedProperty"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesUnguaranteedResidualValuesOfLeasedProperty_lbl" xml:lang="en-US">Capital Leases Net Investment In Direct Financing Leases Unguaranteed Residual Values Of Leased Property</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesUnguaranteedResidualValuesOfLeasedProperty_lbl" xml:lang="en-US">Residual Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesUnguaranteedResidualValuesOfLeasedProperty" xlink:to="us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeasesUnguaranteedResidualValuesOfLeasedProperty_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalRequiredToBeWellCapitalized" xlink:label="us-gaap_CapitalRequiredToBeWellCapitalized"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalRequiredToBeWellCapitalized_lbl" xml:lang="en-US">Capital Required To Be Well Capitalized</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CapitalRequiredToBeWellCapitalized_lbl" xml:lang="en-US">MINIMUM TO QUALIFY AS WELL CAPITALIZED AMOUNT</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalRequiredToBeWellCapitalized" xlink:to="us-gaap_CapitalRequiredToBeWellCapitalized_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalRequiredToBeWellCapitalizedToRiskWeightedAssets" xlink:label="us-gaap_CapitalRequiredToBeWellCapitalizedToRiskWeightedAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalRequiredToBeWellCapitalizedToRiskWeightedAssets_lbl" xml:lang="en-US">Capital Required To Be Well Capitalized To Risk Weighted Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CapitalRequiredToBeWellCapitalizedToRiskWeightedAssets_lbl" xml:lang="en-US">MINIMUM TO QUALIFY AS WELL CAPITALIZED RATIO</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalRequiredToBeWellCapitalizedToRiskWeightedAssets" xlink:to="us-gaap_CapitalRequiredToBeWellCapitalizedToRiskWeightedAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_CapitalSupportAgreementPayments" xlink:label="ntrs_CapitalSupportAgreementPayments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CapitalSupportAgreementPayments_lbl" xml:lang="en-US">Capital Support Agreement Payments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CapitalSupportAgreementPayments_lbl" xml:lang="en-US">Capital Support Agreement Payments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CapitalSupportAgreementPayments_lbl" xml:lang="en-US">Final cash payments</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="ntrs_CapitalSupportAgreementPayments_lbl" xml:lang="en-US">Capital Support Agreement Payments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CapitalSupportAgreementPayments" xlink:to="ntrs_CapitalSupportAgreementPayments_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalToRiskWeightedAssets" xlink:label="us-gaap_CapitalToRiskWeightedAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalToRiskWeightedAssets_lbl" xml:lang="en-US">Capital To Risk Weighted Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CapitalToRiskWeightedAssets_lbl" xml:lang="en-US">ACTUAL RATIO</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalToRiskWeightedAssets" xlink:to="us-gaap_CapitalToRiskWeightedAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CarryingReportedAmountFairValueDisclosureMember" xlink:label="us-gaap_CarryingReportedAmountFairValueDisclosureMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CarryingReportedAmountFairValueDisclosureMember_lbl" xml:lang="en-US">Carrying Reported Amount Fair Value Disclosure [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CarryingReportedAmountFairValueDisclosureMember_lbl" xml:lang="en-US">Carrying (Reported) Amount, Fair Value Disclosure</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CarryingReportedAmountFairValueDisclosureMember" xlink:to="us-gaap_CarryingReportedAmountFairValueDisclosureMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashAndCashEquivalentsMember" xlink:label="us-gaap_CashAndCashEquivalentsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsMember_lbl" xml:lang="en-US">Cash And Cash Equivalents [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CashAndCashEquivalentsMember_lbl" xml:lang="en-US">Cash and Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsMember" xlink:to="us-gaap_CashAndCashEquivalentsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl" xml:lang="en-US">Cash And Cash Equivalents Period Increase Decrease</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl" xml:lang="en-US">Increase (Decrease) in Cash and Due from Banks</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl" xml:lang="en-US">Cash And Cash Equivalents Policy [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl" xml:lang="en-US">Cash Flow Statements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:to="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashAndDueFromBanks" xlink:label="us-gaap_CashAndDueFromBanks"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndDueFromBanks_lbl" xml:lang="en-US">Cash And Due From Banks</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_CashAndDueFromBanks_lbl" xml:lang="en-US">Cash and Due from Banks at End of Year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_CashAndDueFromBanks_lbl" xml:lang="en-US">Cash and Due from Banks at Beginning of Year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CashAndDueFromBanks_lbl" xml:lang="en-US">Cash and Due from Banks</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CashAndDueFromBanks_lbl" xml:lang="en-US">Cash on Deposit with Subsidiary Bank</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndDueFromBanks" xlink:to="us-gaap_CashAndDueFromBanks_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_CashBasedCompensationPlanExpense" xlink:label="ntrs_CashBasedCompensationPlanExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CashBasedCompensationPlanExpense_lbl" xml:lang="en-US">Compensation related costs for cash incentives and bonuses to select employees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CashBasedCompensationPlanExpense_lbl" xml:lang="en-US">Cash Based Compensation Plan Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CashBasedCompensationPlanExpense_lbl" xml:lang="en-US">Cash based compensation expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CashBasedCompensationPlanExpense" xlink:to="ntrs_CashBasedCompensationPlanExpense_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_CashBasedCompensationPlanExpenseLineItems" xlink:label="ntrs_CashBasedCompensationPlanExpenseLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CashBasedCompensationPlanExpenseLineItems_lbl" xml:lang="en-US">Cash Based Compensation Plan Expense [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CashBasedCompensationPlanExpenseLineItems_lbl" xml:lang="en-US">Cash Based Compensation Plan Expense [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CashBasedCompensationPlanExpenseLineItems_lbl" xml:lang="en-US">Cash Based Compensation Plan Expense [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CashBasedCompensationPlanExpenseLineItems" xlink:to="ntrs_CashBasedCompensationPlanExpenseLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_CashBasedCompensationPlanExpenseTable" xlink:label="ntrs_CashBasedCompensationPlanExpenseTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CashBasedCompensationPlanExpenseTable_lbl" xml:lang="en-US">Cash Based Compensation Plan Expense [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CashBasedCompensationPlanExpenseTable_lbl" xml:lang="en-US">Cash Based Compensation Plan Expense [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CashBasedCompensationPlanExpenseTable_lbl" xml:lang="en-US">Cash Based Compensation Plan Expense [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CashBasedCompensationPlanExpenseTable" xlink:to="ntrs_CashBasedCompensationPlanExpenseTable_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_CashBasedCompensationPlansDisclosureTextBlock" xlink:label="ntrs_CashBasedCompensationPlansDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CashBasedCompensationPlansDisclosureTextBlock_lbl" xml:lang="en-US">Disclosure of compensation-related costs for cash incentives and bonuses to select employees.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CashBasedCompensationPlansDisclosureTextBlock_lbl" xml:lang="en-US">Cash Based Compensation Plans Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CashBasedCompensationPlansDisclosureTextBlock_lbl" xml:lang="en-US">Cash-Based Compensation Plans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CashBasedCompensationPlansDisclosureTextBlock" xlink:to="ntrs_CashBasedCompensationPlansDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_CashCollateralDepositedWithNotOffsetAgainstDerivativeAssetsAndLiabilities" xlink:label="ntrs_CashCollateralDepositedWithNotOffsetAgainstDerivativeAssetsAndLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CashCollateralDepositedWithNotOffsetAgainstDerivativeAssetsAndLiabilities_lbl" xml:lang="en-US">Additional cash collateral deposited with derivative counterparties not offset against derivative assets and liabilities 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_CashCollateralDepositedWithNotOffsetAgainstDerivativeAssetsAndLiabilities_lbl" xml:lang="en-US">Cash Collateral Deposited With Not Offset Against Derivative Assets And Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CashCollateralDepositedWithNotOffsetAgainstDerivativeAssetsAndLiabilities_lbl" xml:lang="en-US">This amount represents additional cash collateral deposited with derivative counterparties not offset against derivative assets and liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CashCollateralDepositedWithNotOffsetAgainstDerivativeAssetsAndLiabilities" xlink:to="ntrs_CashCollateralDepositedWithNotOffsetAgainstDerivativeAssetsAndLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_CashCollateralReceivedAndDeposited" xlink:label="ntrs_CashCollateralReceivedAndDeposited"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CashCollateralReceivedAndDeposited_lbl" xml:lang="en-US">Reduction in derivative assets (liabilities) due to cash collateral received from (deposited with) derivative counterparties.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CashCollateralReceivedAndDeposited_lbl" xml:lang="en-US">Cash Collateral Received And Deposited</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CashCollateralReceivedAndDeposited_lbl" xml:lang="en-US">Reduction in derivative assets (liabilities) due to cash collateral received from (deposited with) derivative counterparties</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ntrs_CashCollateralReceivedAndDeposited_lbl" xml:lang="en-US">Reduction in derivatives due to cash collateral received from and deposited with derivative counterparties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CashCollateralReceivedAndDeposited" xlink:to="ntrs_CashCollateralReceivedAndDeposited_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_CashCollateralReceivedFromNotOffsetAgainstDerivativeAssetsAndLiabilities" xlink:label="ntrs_CashCollateralReceivedFromNotOffsetAgainstDerivativeAssetsAndLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CashCollateralReceivedFromNotOffsetAgainstDerivativeAssetsAndLiabilities_lbl" xml:lang="en-US">Additional cash collateral received from derivative counterparties not offset against derivative assets and liabilities 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_CashCollateralReceivedFromNotOffsetAgainstDerivativeAssetsAndLiabilities_lbl" xml:lang="en-US">Cash Collateral Received From Not Offset Against Derivative Assets And Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CashCollateralReceivedFromNotOffsetAgainstDerivativeAssetsAndLiabilities_lbl" xml:lang="en-US">This amount represents additional cash collateral received from derivative counterparties not offset against derivative assets and liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CashCollateralReceivedFromNotOffsetAgainstDerivativeAssetsAndLiabilities" xlink:to="ntrs_CashCollateralReceivedFromNotOffsetAgainstDerivativeAssetsAndLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.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">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">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">Compensation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CashFlowHedgeGainLossReclassifiedToCompensationExpenseNet" xlink:to="ntrs_CashFlowHedgeGainLossReclassifiedToCompensationExpenseNet_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.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">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">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">Employee Benefits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CashFlowHedgeGainLossReclassifiedToEmployeeBenefitsNet" xlink:to="ntrs_CashFlowHedgeGainLossReclassifiedToEmployeeBenefitsNet_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.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">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">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">Equipment and Software Expense</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/2011/elts/us-gaap-2011-01-31.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">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">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-20111231.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">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">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">Interest Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CashFlowHedgeGainLossReclassifiedToInterestIncomeNet" xlink:to="ntrs_CashFlowHedgeGainLossReclassifiedToInterestIncomeNet_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.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">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">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">Occupancy Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CashFlowHedgeGainLossReclassifiedToOccupancyExpenseNet" xlink:to="ntrs_CashFlowHedgeGainLossReclassifiedToOccupancyExpenseNet_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.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">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">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/2011/elts/us-gaap-2011-01-31.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">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">Other Operating Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashFlowHedgeGainLossReclassifiedToOtherIncomeNet" xlink:to="us-gaap_CashFlowHedgeGainLossReclassifiedToOtherIncomeNet_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.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">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">Trust, Investment and Other Servicing Fees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashFlowHedgeGainLossReclassifiedToRevenueNet" xlink:to="us-gaap_CashFlowHedgeGainLossReclassifiedToRevenueNet_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashFlowHedgingMember" xlink:label="us-gaap_CashFlowHedgingMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashFlowHedgingMember_lbl" xml:lang="en-US">Cash Flow Hedging [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CashFlowHedgingMember_lbl" xml:lang="en-US">CASH FLOW HEDGES</label>
    <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-20111231.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">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">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">Categories Of Loan And Commitments [Axis]</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-20111231.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">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">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">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/2011/elts/us-gaap-2011-01-31.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">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">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/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ChangeInAccountingPrincipleMember" xlink:label="us-gaap_ChangeInAccountingPrincipleMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ChangeInAccountingPrincipleMember_lbl" xml:lang="en-US">Change In Accounting Principle [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ChangeInAccountingPrincipleMember_lbl" xml:lang="en-US">Cumulative Effect of Applying FSP FAS 115-2 (ASC 320-10)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ChangeInAccountingPrincipleMember" xlink:to="us-gaap_ChangeInAccountingPrincipleMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_ChangeInBenefitObligationAsAresultOfPlanAmendment" xlink:label="ntrs_ChangeInBenefitObligationAsAresultOfPlanAmendment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_ChangeInBenefitObligationAsAresultOfPlanAmendment_lbl" xml:lang="en-US">Change in benefit obligation as a result of Plan Amendment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_ChangeInBenefitObligationAsAresultOfPlanAmendment_lbl" xml:lang="en-US">Change In Benefit Obligation As Aresult Of Plan Amendment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_ChangeInBenefitObligationAsAresultOfPlanAmendment_lbl" xml:lang="en-US">Projected benefit obligation reduced</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_ChangeInBenefitObligationAsAresultOfPlanAmendment" xlink:to="ntrs_ChangeInBenefitObligationAsAresultOfPlanAmendment_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.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">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">Changes recorded in the fair value of the hedged items in a fair value hedge</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge_lbl" xml:lang="en-US">Increases in the carrying values of notes outstanding covered by interest-rate swap contracts</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/2011/elts/us-gaap-2011-01-31.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">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">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/2011/elts/us-gaap-2011-01-31.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">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">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="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights" xlink:label="us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights_lbl" xml:lang="en-US">Class Of Warrant Or Right Exercise Price Of Warrants Or Rights</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights_lbl" xml:lang="en-US">Warrant Exercise price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights" xlink:to="us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_ClassOfWarrantOrRightFairValueAssumptionExpectedDividendYield" xlink:label="ntrs_ClassOfWarrantOrRightFairValueAssumptionExpectedDividendYield"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_ClassOfWarrantOrRightFairValueAssumptionExpectedDividendYield_lbl" xml:lang="en-US">Class of Warrant or Right, Fair Value Assumption, Expected Dividend Yield</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_ClassOfWarrantOrRightFairValueAssumptionExpectedDividendYield_lbl" xml:lang="en-US">Class Of Warrant Or Right Fair Value Assumption Expected Dividend Yield</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_ClassOfWarrantOrRightFairValueAssumptionExpectedDividendYield_lbl" xml:lang="en-US">Fair value assumption for warrant to purchase common stock, dividend yield</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_ClassOfWarrantOrRightFairValueAssumptionExpectedDividendYield" xlink:to="ntrs_ClassOfWarrantOrRightFairValueAssumptionExpectedDividendYield_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_ClassOfWarrantOrRightFairValueAssumptionExpectedLife" xlink:label="ntrs_ClassOfWarrantOrRightFairValueAssumptionExpectedLife"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_ClassOfWarrantOrRightFairValueAssumptionExpectedLife_lbl" xml:lang="en-US">Class of Warrant or Right, Fair Value Assumption, Expected Life</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_ClassOfWarrantOrRightFairValueAssumptionExpectedLife_lbl" xml:lang="en-US">Class Of Warrant Or Right Fair Value Assumption Expected Life</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_ClassOfWarrantOrRightFairValueAssumptionExpectedLife_lbl" xml:lang="en-US">Fair value assumption for warrant to purchase common stock, life (years)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_ClassOfWarrantOrRightFairValueAssumptionExpectedLife" xlink:to="ntrs_ClassOfWarrantOrRightFairValueAssumptionExpectedLife_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_ClassOfWarrantOrRightFairValueAssumptionRiskFreeInterestRate" xlink:label="ntrs_ClassOfWarrantOrRightFairValueAssumptionRiskFreeInterestRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_ClassOfWarrantOrRightFairValueAssumptionRiskFreeInterestRate_lbl" xml:lang="en-US">Class of Warrant or Right, Fair Value Assumption, Risk Free Interest Rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_ClassOfWarrantOrRightFairValueAssumptionRiskFreeInterestRate_lbl" xml:lang="en-US">Class Of Warrant Or Right Fair Value Assumption Risk Free Interest Rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_ClassOfWarrantOrRightFairValueAssumptionRiskFreeInterestRate_lbl" xml:lang="en-US">Fair value assumption for warrant to purchase common stock, risk free interest rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_ClassOfWarrantOrRightFairValueAssumptionRiskFreeInterestRate" xlink:to="ntrs_ClassOfWarrantOrRightFairValueAssumptionRiskFreeInterestRate_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_ClassOfWarrantOrRightFairValueAssumptionStockVolatility" xlink:label="ntrs_ClassOfWarrantOrRightFairValueAssumptionStockVolatility"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_ClassOfWarrantOrRightFairValueAssumptionStockVolatility_lbl" xml:lang="en-US">Class of Warrant or Right, Fair Value Assumption, Stock Volatility</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_ClassOfWarrantOrRightFairValueAssumptionStockVolatility_lbl" xml:lang="en-US">Class Of Warrant Or Right Fair Value Assumption Stock Volatility</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_ClassOfWarrantOrRightFairValueAssumptionStockVolatility_lbl" xml:lang="en-US">Fair value assumption for warrant to purchase common stock, stock price volatility</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_ClassOfWarrantOrRightFairValueAssumptionStockVolatility" xlink:to="ntrs_ClassOfWarrantOrRightFairValueAssumptionStockVolatility_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" xlink:label="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_lbl" xml:lang="en-US">Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_lbl" xml:lang="en-US">Warrant to purchase shares of common stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" xlink:to="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_ClassOfWarrantTerm" xlink:label="ntrs_ClassOfWarrantTerm"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_ClassOfWarrantTerm_lbl" xml:lang="en-US">Class of Warrant Term</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_ClassOfWarrantTerm_lbl" xml:lang="en-US">Class Of Warrant Term</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_ClassOfWarrantTerm_lbl" xml:lang="en-US">Warrant term (years)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_ClassOfWarrantTerm" xlink:to="ntrs_ClassOfWarrantTerm_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.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">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">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">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-20111231.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">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">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">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="ntrs-20111231.xsd#ntrs_ClientSecuritySettlementReceivablesPolicyTextBlock" xlink:label="ntrs_ClientSecuritySettlementReceivablesPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_ClientSecuritySettlementReceivablesPolicyTextBlock_lbl" xml:lang="en-US">Defines Client Security Settlement Receivables</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_ClientSecuritySettlementReceivablesPolicyTextBlock_lbl" xml:lang="en-US">Client Security Settlement Receivables Policy [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_ClientSecuritySettlementReceivablesPolicyTextBlock_lbl" xml:lang="en-US">Client Security Settlement Receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_ClientSecuritySettlementReceivablesPolicyTextBlock" xlink:to="ntrs_ClientSecuritySettlementReceivablesPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_ClientSupportRelatedCharges" xlink:label="ntrs_ClientSupportRelatedCharges"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_ClientSupportRelatedCharges_lbl" xml:lang="en-US">Client Support-Related Charges</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_ClientSupportRelatedCharges_lbl" xml:lang="en-US">Client Support Related Charges</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_ClientSupportRelatedCharges_lbl" xml:lang="en-US">Client Support Related Charges (Benefit)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ntrs_ClientSupportRelatedCharges_lbl" xml:lang="en-US">Client Support-Related Charges (Benefit)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_ClientSupportRelatedCharges" xlink:to="ntrs_ClientSupportRelatedCharges_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.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">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">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-20111231.xsd#ntrs_CollateralRepledgedOrSold" xlink:label="ntrs_CollateralRepledgedOrSold"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CollateralRepledgedOrSold_lbl" xml:lang="en-US">Collateral from agreements to resell securities purchased transactions that has been repledged or sold.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CollateralRepledgedOrSold_lbl" xml:lang="en-US">Collateral Repledged Or Sold</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CollateralRepledgedOrSold_lbl" xml:lang="en-US">Amount of securities repledged or sold collateral</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CollateralRepledgedOrSold" xlink:to="ntrs_CollateralRepledgedOrSold_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.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">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">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">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="ntrs-20111231.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">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">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">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="ntrs-20111231.xsd#ntrs_CommercialLettersOfCreditMember" xlink:label="ntrs_CommercialLettersOfCreditMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CommercialLettersOfCreditMember_lbl" xml:lang="en-US">Commercial Letters of Credit [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CommercialLettersOfCreditMember_lbl" xml:lang="en-US">Commercial Letters Of Credit [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CommercialLettersOfCreditMember_lbl" xml:lang="en-US">Commercial Letters of Credit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CommercialLettersOfCreditMember" xlink:to="ntrs_CommercialLettersOfCreditMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.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">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">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-20111231.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">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">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">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-20111231.xsd#ntrs_CommercialMember" xlink:label="ntrs_CommercialMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CommercialMember_lbl" xml:lang="en-US">Commercial [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CommercialMember_lbl" xml:lang="en-US">Commercial [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CommercialMember_lbl" xml:lang="en-US">Commercial</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CommercialMember" xlink:to="ntrs_CommercialMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_CommercialMortgagesAbstract" xlink:label="ntrs_CommercialMortgagesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CommercialMortgagesAbstract_lbl" xml:lang="en-US">Commercial Mortgages [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CommercialMortgagesAbstract_lbl" xml:lang="en-US">Commercial Mortgages [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CommercialMortgagesAbstract_lbl" xml:lang="en-US">Commercial Mortgages:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CommercialMortgagesAbstract" xlink:to="ntrs_CommercialMortgagesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.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">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">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">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/2011/elts/us-gaap-2011-01-31.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">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">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="ntrs-20111231.xsd#ntrs_CommercialRealEstateByLoanDisclosureTableTextBlock" xlink:label="ntrs_CommercialRealEstateByLoanDisclosureTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CommercialRealEstateByLoanDisclosureTableTextBlock_lbl" xml:lang="en-US">Commercial Real Estate Loan Types</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CommercialRealEstateByLoanDisclosureTableTextBlock_lbl" xml:lang="en-US">Commercial Real Estate By Loan Disclosure Table [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CommercialRealEstateByLoanDisclosureTableTextBlock_lbl" xml:lang="en-US">Commercial Real Estate Loan Types</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CommercialRealEstateByLoanDisclosureTableTextBlock" xlink:to="ntrs_CommercialRealEstateByLoanDisclosureTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.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">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">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="ntrs-20111231.xsd#ntrs_CommercialRealEstateLineItems" xlink:label="ntrs_CommercialRealEstateLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CommercialRealEstateLineItems_lbl" xml:lang="en-US">Commercial Real Estate [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CommercialRealEstateLineItems_lbl" xml:lang="en-US">Commercial Real Estate [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CommercialRealEstateLineItems_lbl" xml:lang="en-US">Commercial Real Estate [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CommercialRealEstateLineItems" xlink:to="ntrs_CommercialRealEstateLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommercialRealEstateMember" xlink:label="us-gaap_CommercialRealEstateMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommercialRealEstateMember_lbl" xml:lang="en-US">Commercial Real Estate [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommercialRealEstateMember_lbl" xml:lang="en-US">Commercial Real Estates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommercialRealEstateMember" xlink:to="us-gaap_CommercialRealEstateMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_CommercialRealEstateTable" xlink:label="ntrs_CommercialRealEstateTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CommercialRealEstateTable_lbl" xml:lang="en-US">Commercial Real Estate [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CommercialRealEstateTable_lbl" xml:lang="en-US">Commercial Real Estate [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CommercialRealEstateTable_lbl" xml:lang="en-US">Commercial Real Estate [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CommercialRealEstateTable" xlink:to="ntrs_CommercialRealEstateTable_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.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">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">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">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-20111231.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">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">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">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="ntrs-20111231.xsd#ntrs_CommitmentsAndLettersOfCreditDisclosureTextBlock" xlink:label="ntrs_CommitmentsAndLettersOfCreditDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CommitmentsAndLettersOfCreditDisclosureTextBlock_lbl" xml:lang="en-US">Commitments And Letters Of Credit Disclosure [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CommitmentsAndLettersOfCreditDisclosureTextBlock_lbl" xml:lang="en-US">Commitments And Letters Of Credit Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CommitmentsAndLettersOfCreditDisclosureTextBlock_lbl" xml:lang="en-US">Contractual Amounts of Commitments and Letters of Credit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CommitmentsAndLettersOfCreditDisclosureTextBlock" xlink:to="ntrs_CommitmentsAndLettersOfCreditDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_CommitmentsAndLettersOfCreditLineItems" xlink:label="ntrs_CommitmentsAndLettersOfCreditLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CommitmentsAndLettersOfCreditLineItems_lbl" xml:lang="en-US">Commitments and Letters of Credit [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CommitmentsAndLettersOfCreditLineItems_lbl" xml:lang="en-US">Commitments And Letters Of Credit [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CommitmentsAndLettersOfCreditLineItems_lbl" xml:lang="en-US">Commitments and Letters of Credit [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CommitmentsAndLettersOfCreditLineItems" xlink:to="ntrs_CommitmentsAndLettersOfCreditLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_CommitmentsAndLettersOfCreditTable" xlink:label="ntrs_CommitmentsAndLettersOfCreditTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CommitmentsAndLettersOfCreditTable_lbl" xml:lang="en-US">Commitments and Letters of Credit [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CommitmentsAndLettersOfCreditTable_lbl" xml:lang="en-US">Commitments And Letters Of Credit [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CommitmentsAndLettersOfCreditTable_lbl" xml:lang="en-US">Commitments and Letters of Credit [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CommitmentsAndLettersOfCreditTable" xlink:to="ntrs_CommitmentsAndLettersOfCreditTable_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.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">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">Loan Commitments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsFairValueDisclosure" xlink:to="us-gaap_CommitmentsFairValueDisclosure_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_CommitmentsParticipatedToOthers" xlink:label="ntrs_CommitmentsParticipatedToOthers"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CommitmentsParticipatedToOthers_lbl" xml:lang="en-US">Commitments, Participated to Others</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CommitmentsParticipatedToOthers_lbl" xml:lang="en-US">Commitments Participated To Others</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CommitmentsParticipatedToOthers_lbl" xml:lang="en-US">Legally Binding Commitments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CommitmentsParticipatedToOthers" xlink:to="ntrs_CommitmentsParticipatedToOthers_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_CommitmentsToExtendCredit" xlink:label="ntrs_CommitmentsToExtendCredit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CommitmentsToExtendCredit_lbl" xml:lang="en-US">This represents the amount of legally binding commitments to extend credit as of balance sheet date.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CommitmentsToExtendCredit_lbl" xml:lang="en-US">Commitments To Extend Credit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CommitmentsToExtendCredit_lbl" xml:lang="en-US">Legally binding commitments to extend credit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CommitmentsToExtendCredit" xlink:to="ntrs_CommitmentsToExtendCredit_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommitmentsToExtendCreditMember" xlink:label="us-gaap_CommitmentsToExtendCreditMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommitmentsToExtendCreditMember_lbl" xml:lang="en-US">Commitments To Extend Credit [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommitmentsToExtendCreditMember_lbl" xml:lang="en-US">Commitments to Extend Credit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsToExtendCreditMember" xlink:to="us-gaap_CommitmentsToExtendCreditMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommoditiesInvestmentMember" xlink:label="us-gaap_CommoditiesInvestmentMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommoditiesInvestmentMember_lbl" xml:lang="en-US">Commodities Investment [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommoditiesInvestmentMember_lbl" xml:lang="en-US">Commodity Linked Fund</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommoditiesInvestmentMember" xlink:to="us-gaap_CommoditiesInvestmentMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockMember" xlink:label="us-gaap_CommonStockMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockMember_lbl" xml:lang="en-US">Common Stock [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockMember_lbl" xml:lang="en-US">COMMON STOCK</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockMember" xlink:to="us-gaap_CommonStockMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xml:lang="en-US">Common Stock Par Or Stated Value Per Share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xml:lang="en-US">Common Stock, Par Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockParOrStatedValuePerShare" xlink:to="us-gaap_CommonStockParOrStatedValuePerShare_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="us-gaap_CommonStockSharesAuthorized"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesAuthorized_lbl" xml:lang="en-US">Common Stock Shares Authorized</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockSharesAuthorized_lbl" xml:lang="en-US">Common Stock, Authorized</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesAuthorized" xlink:to="us-gaap_CommonStockSharesAuthorized_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="us-gaap_CommonStockSharesIssued"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xml:lang="en-US">Common Stock Shares Issued</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CreditRelatedImpairmentLossesRecognizedInEarningsOnOtherThanTemporarilyImpairedSecuritiesTableTextBlock_lbl" xml:lang="en-US">Credit Related Impairment Losses Recognized In Earnings On Other Than Temporarily Impaired Securities [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CreditRelatedImpairmentLossesRecognizedInEarningsOnOtherThanTemporarilyImpairedSecuritiesTableTextBlock_lbl" xml:lang="en-US">Credit Related Impairment Losses Recognized In Earnings On Other Than Temporarily Impaired Securities Table [Text Block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CreditRiskRelatedContingentFeaturesCollateralThreshold_lbl" xml:lang="en-US">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>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CreditRiskRelatedContingentFeaturesCollateralThreshold_lbl" xml:lang="en-US">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-20111231.xsd#ntrs_CreditRiskToBanksMoneyMarketAssets" xlink:label="ntrs_CreditRiskToBanksMoneyMarketAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CreditRiskToBanksMoneyMarketAssets_lbl" xml:lang="en-US">Credit Risk to Banks Money Market Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CreditRiskToBanksMoneyMarketAssets_lbl" xml:lang="en-US">Credit Risk To Banks Money Market Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CreditRiskToBanksMoneyMarketAssets_lbl" xml:lang="en-US">Credit risk to banks - money market assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CreditRiskToBanksMoneyMarketAssets" xlink:to="ntrs_CreditRiskToBanksMoneyMarketAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_CreditRiskToBanksNonInterestBearingBalancesHeldAtBanks" xlink:label="ntrs_CreditRiskToBanksNonInterestBearingBalancesHeldAtBanks"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CreditRiskToBanksNonInterestBearingBalancesHeldAtBanks_lbl" xml:lang="en-US">Credit Risk to Banks Non Interest Bearing Balances Held at Banks</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CreditRiskToBanksNonInterestBearingBalancesHeldAtBanks_lbl" xml:lang="en-US">Credit Risk To Banks Non Interest Bearing Balances Held At Banks</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CreditRiskToBanksNonInterestBearingBalancesHeldAtBanks_lbl" xml:lang="en-US">Credit risk to banks - non-interest bearing balances held at banks</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CreditRiskToBanksNonInterestBearingBalancesHeldAtBanks" xlink:to="ntrs_CreditRiskToBanksNonInterestBearingBalancesHeldAtBanks_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_CumulativeEarningsOfForeignSubsidiaries" xlink:label="ntrs_CumulativeEarningsOfForeignSubsidiaries"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CumulativeEarningsOfForeignSubsidiaries_lbl" xml:lang="en-US">Cumulative earnings of certain non-US subsidiaries indefinitely reinvested</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.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">Available For Sale Debt Securities Held for Which Other-Than-Temporary-Impairment Loss Had been Recognized In the Year or Previously.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CumulativeOtherThanTemporaryImpairmentForDebtSecuritiesTextBlock_lbl" xml:lang="en-US">Cumulative Other Than Temporary Impairment For Debt Securities [Text Block]</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.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CurrentFederalTaxExpenseBenefit" xlink:label="us-gaap_CurrentFederalTaxExpenseBenefit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CurrentFederalTaxExpenseBenefit_lbl" xml:lang="en-US">Current Federal Tax Expense Benefit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CurrentFederalTaxExpenseBenefit_lbl" xml:lang="en-US">Federal</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CurrentFederalTaxExpenseBenefit" xlink:to="us-gaap_CurrentFederalTaxExpenseBenefit_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US">Current Fiscal Year End Date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US">Current Fiscal Year End Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CurrentForeignTaxExpenseBenefit_lbl" xml:lang="en-US">Current Foreign Tax Expense Benefit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CurrentForeignTaxExpenseBenefit_lbl" xml:lang="en-US">Non-U.S.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CurrentForeignTaxExpenseBenefit" xlink:to="us-gaap_CurrentForeignTaxExpenseBenefit_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CurrentIncomeTaxExpenseBenefit" xlink:label="us-gaap_CurrentIncomeTaxExpenseBenefit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CurrentIncomeTaxExpenseBenefit_lbl" xml:lang="en-US">Current Income Tax Expense Benefit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_CurrentIncomeTaxExpenseBenefit_lbl" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CurrentIncomeTaxExpenseBenefit" xlink:to="us-gaap_CurrentIncomeTaxExpenseBenefit_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CurrentIncomeTaxExpenseBenefitAbstract" xlink:label="us-gaap_CurrentIncomeTaxExpenseBenefitAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CurrentIncomeTaxExpenseBenefitAbstract_lbl" xml:lang="en-US">Current Income Tax Expense Benefit [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CurrentIncomeTaxExpenseBenefitAbstract_lbl" xml:lang="en-US">Current Tax Provision:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CurrentIncomeTaxExpenseBenefitAbstract" xlink:to="us-gaap_CurrentIncomeTaxExpenseBenefitAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_CurrentLoansAndLeasesPolicyPeriod" xlink:label="ntrs_CurrentLoansAndLeasesPolicyPeriod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_CurrentLoansAndLeasesPolicyPeriod_lbl" xml:lang="en-US">Current Loans and Leases Policy Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_CurrentLoansAndLeasesPolicyPeriod_lbl" xml:lang="en-US">Current Loans And Leases Policy Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_CurrentLoansAndLeasesPolicyPeriod_lbl" xml:lang="en-US">Current loans and leases policy period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_CurrentLoansAndLeasesPolicyPeriod" xlink:to="ntrs_CurrentLoansAndLeasesPolicyPeriod_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CurrentStateAndLocalTaxExpenseBenefit" xlink:label="us-gaap_CurrentStateAndLocalTaxExpenseBenefit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CurrentStateAndLocalTaxExpenseBenefit_lbl" xml:lang="en-US">Current State And Local Tax Expense Benefit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CurrentStateAndLocalTaxExpenseBenefit_lbl" xml:lang="en-US">State</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CurrentStateAndLocalTaxExpenseBenefit" xlink:to="us-gaap_CurrentStateAndLocalTaxExpenseBenefit_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_DebtDisclosureLineItems" xlink:label="ntrs_DebtDisclosureLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_DebtDisclosureLineItems_lbl" xml:lang="en-US">Debt Disclosure [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_DebtDisclosureLineItems_lbl" xml:lang="en-US">Debt Disclosure [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_DebtDisclosureLineItems_lbl" xml:lang="en-US">Debt Disclosure [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_DebtDisclosureLineItems" xlink:to="ntrs_DebtDisclosureLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_DebtDisclosureTable" xlink:label="ntrs_DebtDisclosureTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_DebtDisclosureTable_lbl" xml:lang="en-US">Debt Disclosure [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_DebtDisclosureTable_lbl" xml:lang="en-US">Debt Disclosure [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_DebtDisclosureTable_lbl" xml:lang="en-US">Debt Disclosure [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_DebtDisclosureTable" xlink:to="ntrs_DebtDisclosureTable_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DebtDisclosureTextBlock" xlink:label="us-gaap_DebtDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtDisclosureTextBlock_lbl" xml:lang="en-US">Debt Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtDisclosureTextBlock_lbl" xml:lang="en-US">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_DebtDisclosureTextBlock" xlink:to="us-gaap_DebtDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="us-gaap_DebtInstrumentAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentAxis_lbl" xml:lang="en-US">Debt Instrument [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentAxis_lbl" xml:lang="en-US">Debt Instrument [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentAxis" xlink:to="us-gaap_DebtInstrumentAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate" xlink:label="us-gaap_DebtInstrumentBasisSpreadOnVariableRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentBasisSpreadOnVariableRate_lbl" xml:lang="en-US">Debt Instrument Basis Spread On Variable Rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentBasisSpreadOnVariableRate_lbl" xml:lang="en-US">Debt instrument, basis spread on variable rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentBasisSpreadOnVariableRate" xlink:to="us-gaap_DebtInstrumentBasisSpreadOnVariableRate_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DebtInstrumentCreditRating" xlink:label="us-gaap_DebtInstrumentCreditRating"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentCreditRating_lbl" xml:lang="en-US">Debt Instrument Credit Rating</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentCreditRating_lbl" xml:lang="en-US">Credit Rating</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentCreditRating" xlink:to="us-gaap_DebtInstrumentCreditRating_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DebtInstrumentDescriptionOfVariableRateBasis" xlink:label="us-gaap_DebtInstrumentDescriptionOfVariableRateBasis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentDescriptionOfVariableRateBasis_lbl" xml:lang="en-US">Debt Instrument Description Of Variable Rate Basis</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentDescriptionOfVariableRateBasis_lbl" xml:lang="en-US">Interest rate on the securities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentDescriptionOfVariableRateBasis" xlink:to="us-gaap_DebtInstrumentDescriptionOfVariableRateBasis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xml:lang="en-US">Debt Instrument Interest Rate Stated Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xml:lang="en-US">Interest Rate</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_DefinedBenefitPlanAssumptionsUsedCalculatingPlanAssetsExpectedLongTermReturnOnAssets" xlink:label="ntrs_DefinedBenefitPlanAssumptionsUsedCalculatingPlanAssetsExpectedLongTermReturnOnAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_DefinedBenefitPlanAssumptionsUsedCalculatingPlanAssetsExpectedLongTermReturnOnAssets_lbl" xml:lang="en-US">Defined Benefit Plan Assumptions Used Calculating Plan Assets Expected, Long Term Return On Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_DefinedBenefitPlanAssumptionsUsedCalculatingPlanAssetsExpectedLongTermReturnOnAssets_lbl" xml:lang="en-US">Defined Benefit Plan Assumptions Used Calculating Plan Assets Expected Long Term Return On Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_DefinedBenefitPlanAssumptionsUsedCalculatingPlanAssetsExpectedLongTermReturnOnAssets_lbl" xml:lang="en-US">Expected long-term rate of return on plan assets</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DefinedBenefitPlanBenefitsPaid_lbl" xml:lang="en-US">Benefits Paid</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_DefinedBenefitPlanBenefitsPaid_lbl" xml:lang="en-US">Gross Benefits Paid</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DefinedBenefitPlanBusinessCombinationsAndAcquisitionsPlanAssets_lbl" xml:lang="en-US">Purchases</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DefinedBenefitPlanEffectOfOnePercentagePointIncreaseOnServiceAndInterestCostComponents_lbl" xml:lang="en-US">Effect on Total Service and Interest Cost Components - 1 Percentage Point Increase</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearFive" xlink:label="us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearFive"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearFour" xlink:label="us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearFour"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearFour_lbl" xml:lang="en-US">Defined Benefit Plan Expected Future Benefit Payments In Year Four</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearFour_lbl" xml:lang="en-US">2015</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearOne" xlink:label="us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearOne"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearOne_lbl" xml:lang="en-US">2012</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearTwo" xlink:label="us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearTwo"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanServiceCost" xlink:label="us-gaap_DefinedBenefitPlanServiceCost"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DefinedBenefitPlanServiceCost_lbl" xml:lang="en-US">Defined Benefit Plan Service Cost</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanTargetAllocationPercentageOfAssetsDebtSecurities" xlink:label="us-gaap_DefinedBenefitPlanTargetAllocationPercentageOfAssetsDebtSecurities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DefinedBenefitPlanTargetAllocationPercentageOfAssetsDebtSecurities_lbl" xml:lang="en-US">Defined Benefit Plan Target Allocation Percentage Of Assets Debt Securities</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanTargetAllocationPercentageOfAssetsEquitySecurities" xlink:label="us-gaap_DefinedBenefitPlanTargetAllocationPercentageOfAssetsEquitySecurities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DefinedBenefitPlanTargetAllocationPercentageOfAssetsEquitySecurities_lbl" xml:lang="en-US">Defined Benefit Plan Target Allocation Percentage Of Assets Equity Securities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DefinedBenefitPlanTargetAllocationPercentageOfAssetsEquitySecurities_lbl" xml:lang="en-US">Equity target allocation of plan assets</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanTargetAllocationPercentageOfAssetsOther" xlink:label="us-gaap_DefinedBenefitPlanTargetAllocationPercentageOfAssetsOther"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DefinedBenefitPlanTargetAllocationPercentageOfAssetsOther_lbl" xml:lang="en-US">Defined Benefit Plan Target Allocation Percentage Of Assets Other</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DefinedBenefitPlanTargetAllocationPercentageOfAssetsOther_lbl" xml:lang="en-US">Other target allocation of plan assets</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanTargetAllocationPercentageOfAssetsRealEstate" xlink:label="us-gaap_DefinedBenefitPlanTargetAllocationPercentageOfAssetsRealEstate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DefinedBenefitPlanTargetAllocationPercentageOfAssetsRealEstate_lbl" xml:lang="en-US">Defined Benefit Plan Target Allocation Percentage Of Assets Real Estate</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanUltimateHealthCareCostTrendRate" xlink:label="us-gaap_DefinedBenefitPlanUltimateHealthCareCostTrendRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DefinedBenefitPlanUltimateHealthCareCostTrendRate_lbl" xml:lang="en-US">Defined Benefit Plan Ultimate Health Care Cost Trend Rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DefinedBenefitPlanUltimateHealthCareCostTrendRate_lbl" xml:lang="en-US">Ultimate health care rate</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanWeightedAverageAssumptionsUsedInCalculatingBenefitObligationAbstract" xlink:label="us-gaap_DefinedBenefitPlanWeightedAverageAssumptionsUsedInCalculatingBenefitObligationAbstract"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DefinedBenefitPlanWeightedAverageAssumptionsUsedInCalculatingBenefitObligationAbstract_lbl" xml:lang="en-US">Weighted-Average Assumptions:</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanWeightedAverageAssumptionsUsedInCalculatingNetPeriodicBenefitCostAbstract" xlink:label="us-gaap_DefinedBenefitPlanWeightedAverageAssumptionsUsedInCalculatingNetPeriodicBenefitCostAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DefinedBenefitPlanWeightedAverageAssumptionsUsedInCalculatingNetPeriodicBenefitCostAbstract_lbl" xml:lang="en-US">Defined Benefit Plan Weighted Average Assumptions Used In Calculating Net Periodic Benefit Cost [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DefinedBenefitPlanWeightedAverageAssumptionsUsedInCalculatingNetPeriodicBenefitCostAbstract_lbl" xml:lang="en-US">Weighted-Average Assumptions:</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DefinedBenefitPostretirementHealthCoverageMember_lbl" xml:lang="en-US">Defined Benefit Postretirement Health Coverage</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_DisclosureBuildingsAndEquipmentAbstract_lbl" xml:lang="en-US">Disclosure Buildings And Equipment [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_DisclosureBuildingsAndEquipmentAbstract_lbl" xml:lang="en-US">Disclosure - Buildings and Equipment [Abstract]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_DisclosureBuildingsAndEquipmentAdditionalInformationAbstract_lbl" xml:lang="en-US">Disclosure Buildings And Equipment Additional Information [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_DisclosureBuildingsAndEquipmentAdditionalInformationAbstract_lbl" xml:lang="en-US">Disclosure - Buildings and Equipment - Additional Information [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_DisclosureBuildingsAndEquipmentAdditionalInformationAbstract" xlink:to="ntrs_DisclosureBuildingsAndEquipmentAdditionalInformationAbstract_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_DisclosureBusinessUnitsAndRelatedInformationAdditionalInformationAbstract_lbl" xml:lang="en-US">Disclosure Business Units And Related Information Additional Information [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_DisclosureBusinessUnitsAndRelatedInformationAdditionalInformationAbstract_lbl" xml:lang="en-US">Disclosure - Business Units and Related Information - Additional Information [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_DisclosureBusinessUnitsAndRelatedInformationAdditionalInformationAbstract" xlink:to="ntrs_DisclosureBusinessUnitsAndRelatedInformationAdditionalInformationAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_DisclosureCashBasedCompensationPlansAdditionalInformationAbstract" xlink:label="ntrs_DisclosureCashBasedCompensationPlansAdditionalInformationAbstract"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_DisclosureCashBasedCompensationPlansAdditionalInformationAbstract_lbl" xml:lang="en-US">Disclosure Cash Based Compensation Plans Additional Information [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_DisclosureCashBasedCompensationPlansAdditionalInformationAbstract_lbl" xml:lang="en-US">Disclosure - Cash-Based Compensation Plans - Additional information [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_DisclosureCashBasedCompensationPlansAdditionalInformationAbstract" xlink:to="ntrs_DisclosureCashBasedCompensationPlansAdditionalInformationAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_DisclosureCashFlowHedgeDerivativeGainsAndLossesRecognizedInAOCIAndTheAmountsReclassifiedToEarningsAbstract" xlink:label="ntrs_DisclosureCashFlowHedgeDerivativeGainsAndLossesRecognizedInAOCIAndTheAmountsReclassifiedToEarningsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_DisclosureCashFlowHedgeDerivativeGainsAndLossesRecognizedInAOCIAndTheAmountsReclassifiedToEarningsAbstract_lbl" xml:lang="en-US">Disclosure - Cash Flow Hedge Derivative Gains and Losses Recognized in AOCI and the Amounts Reclassified to Earnings [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_DisclosureCashFlowHedgeDerivativeGainsAndLossesRecognizedInAOCIAndTheAmountsReclassifiedToEarningsAbstract_lbl" xml:lang="en-US">Disclosure Cash Flow Hedge Derivative Gains And Losses Recognized In A O C I And The Amounts Reclassified To Earnings [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_DisclosureCashFlowHedgeDerivativeGainsAndLossesRecognizedInAOCIAndTheAmountsReclassifiedToEarningsAbstract_lbl" xml:lang="en-US">Disclosure - Cash Flow Hedge Derivative Gains and Losses Recognized in AOCI and the Amounts Reclassified to Earnings [Abstract]</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_DisclosureChangeInBenefitObligationAbstract" xlink:label="ntrs_DisclosureChangeInBenefitObligationAbstract"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_DisclosureChangeInBenefitObligationAbstract_lbl" xml:lang="en-US">Disclosure Change In Benefit Obligation [Abstract]</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_DisclosureChangeInPlanAssetsAbstract" xlink:label="ntrs_DisclosureChangeInPlanAssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_DisclosureChangeInPlanAssetsAbstract_lbl" xml:lang="en-US">Disclosure - Change in Plan Assets [Abstract]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_DisclosureChangesInAllowanceForCreditLossesBySegmentAbstract_lbl" xml:lang="en-US">Disclosure - Changes in Allowance for Credit Losses by Segment [Abstract]</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_DisclosureChangesInCarryingAmountsOfGoodwillByBusinessUnitAbstract" xlink:label="ntrs_DisclosureChangesInCarryingAmountsOfGoodwillByBusinessUnitAbstract"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_DisclosureChangesInLevel3AssetsAbstract_lbl" xml:lang="en-US">Disclosure Changes In Level 3 Assets [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_DisclosureChangesInLevel3AssetsAbstract_lbl" xml:lang="en-US">Disclosure - Changes in Level 3 Assets [Abstract]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_DisclosureChangesInLevel3LiabilitiesAbstract_lbl" xml:lang="en-US">Disclosure - Changes in Level 3 Liabilities [Abstract]</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_DisclosureConcentrationsOfCreditRiskAdditionalInformationAbstract" xlink:label="ntrs_DisclosureConcentrationsOfCreditRiskAdditionalInformationAbstract"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_DisclosureConcentrationsOfCreditRiskAdditionalInformationAbstract_lbl" xml:lang="en-US">Disclosure Concentrations Of Credit Risk Additional Information [Abstract]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_DisclosureEmployeeBenefitsAdditionalInformationAbstract_lbl" xml:lang="en-US">Disclosure Employee Benefits Additional Information [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_DisclosureEmployeeBenefitsAdditionalInformationAbstract_lbl" xml:lang="en-US">Disclosure - Employee Benefits - Additional Information [Abstract]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_DisclosureEstimatedFutureBenefitPaymentsAbstract_lbl" xml:lang="en-US">Disclosure Estimated Future Benefit Payments [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_DisclosureEstimatedFutureBenefitPaymentsAbstract_lbl" xml:lang="en-US">Disclosure - Estimated Future Benefit Payments [Abstract]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_DisclosureFairValueMeasurementsAdditionalInformationAbstract_lbl" xml:lang="en-US">Disclosure - Fair Value Measurements - Additional Information [Abstract]</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_DisclosureFairValuesOfUSPensionPlanAssetsByMajorAssetCategoryAndTheirLevelWithinFairValueHierarchyAbstract" xlink:label="ntrs_DisclosureFairValuesOfUSPensionPlanAssetsByMajorAssetCategoryAndTheirLevelWithinFairValueHierarchyAbstract"/>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_DisclosureFloatingRateCapitalDebtAdditionalInformationAbstract" xlink:label="ntrs_DisclosureFloatingRateCapitalDebtAdditionalInformationAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_DisclosureFloatingRateCapitalDebtAdditionalInformationAbstract_lbl" xml:lang="en-US">Disclosure - Floating Rate Capital Debt - Additional Information [Abstract]</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_DisclosureFutureMinimumLeasePaymentsForCapitalLeasesAbstract" xlink:label="ntrs_DisclosureFutureMinimumLeasePaymentsForCapitalLeasesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_DisclosureFutureMinimumLeasePaymentsForCapitalLeasesAbstract_lbl" xml:lang="en-US">Disclosure - Future Minimum Lease Payments for Capital Leases [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_DisclosureFutureMinimumLeasePaymentsForCapitalLeasesAbstract_lbl" xml:lang="en-US">Disclosure Future Minimum Lease Payments For Capital Leases [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_DisclosureFutureMinimumLeasePaymentsForCapitalLeasesAbstract_lbl" xml:lang="en-US">Disclosure - Future Minimum Lease Payments for Capital Leases [Abstract]</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_DisclosureFutureMinimumLeasePaymentsForNonCancelableOperatingLeasesAbstract" xlink:label="ntrs_DisclosureFutureMinimumLeasePaymentsForNonCancelableOperatingLeasesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_DisclosureFutureMinimumLeasePaymentsForNonCancelableOperatingLeasesAbstract_lbl" xml:lang="en-US">Disclosure - Future Minimum Lease Payments for Non-Cancelable Operating Leases [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_DisclosureFutureMinimumLeasePaymentsForNonCancelableOperatingLeasesAbstract_lbl" xml:lang="en-US">Disclosure Future Minimum Lease Payments For Non Cancelable Operating Leases [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_DisclosureFutureMinimumLeasePaymentsForNonCancelableOperatingLeasesAbstract_lbl" xml:lang="en-US">Disclosure - Future Minimum Lease Payments for Non-Cancelable Operating Leases [Abstract]</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_DisclosureFutureMinimumLeasePaymentsToBeReceivedAbstract" xlink:label="ntrs_DisclosureFutureMinimumLeasePaymentsToBeReceivedAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_DisclosureFutureMinimumLeasePaymentsToBeReceivedAbstract_lbl" xml:lang="en-US">Disclosure - Future Minimum Lease Payments to be Received [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_DisclosureFutureMinimumLeasePaymentsToBeReceivedAbstract_lbl" xml:lang="en-US">Disclosure Future Minimum Lease Payments To Be Received [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_DisclosureFutureMinimumLeasePaymentsToBeReceivedAbstract_lbl" xml:lang="en-US">Disclosure - Future Minimum Lease Payments to be Received [Abstract]</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_DisclosureGainsAndLossesRecordedInConsolidatedStatementOfIncomeRelatedToClientRelatedAndTradingDerivativeFinancialInstrumentsAbstract" xlink:label="ntrs_DisclosureGainsAndLossesRecordedInConsolidatedStatementOfIncomeRelatedToClientRelatedAndTradingDerivativeFinancialInstrumentsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_DisclosureGainsAndLossesRecordedInConsolidatedStatementOfIncomeRelatedToClientRelatedAndTradingDerivativeFinancialInstrumentsAbstract_lbl" xml:lang="en-US">Disclosure - Gains and Losses Recorded in Consolidated Statement of Income Related to Client Related and Trading Derivative Financial Instruments [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_DisclosureGainsAndLossesRecordedInConsolidatedStatementOfIncomeRelatedToClientRelatedAndTradingDerivativeFinancialInstrumentsAbstract_lbl" xml:lang="en-US">Disclosure Gains And Losses Recorded In Consolidated Statement Of Income Related To Client Related And Trading Derivative Financial Instruments [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_DisclosureGainsAndLossesRecordedInConsolidatedStatementOfIncomeRelatedToClientRelatedAndTradingDerivativeFinancialInstrumentsAbstract_lbl" xml:lang="en-US">Disclosure - Gains and Losses Recorded in Consolidated Statement of Income Related to Client Related and Trading Derivative Financial Instruments [Abstract]</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_DisclosureGainsAndLossesRecordedInConsolidatedStatementOfIncomeRelatedToDerivativeInstrumentsNotFormallyDesignatedAsHedgesAbstract" xlink:label="ntrs_DisclosureGainsAndLossesRecordedInConsolidatedStatementOfIncomeRelatedToDerivativeInstrumentsNotFormallyDesignatedAsHedgesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_DisclosureGainsAndLossesRecordedInConsolidatedStatementOfIncomeRelatedToDerivativeInstrumentsNotFormallyDesignatedAsHedgesAbstract_lbl" xml:lang="en-US">Disclosure - Gains and Losses Recorded in Consolidated Statement of Income related to Derivative Instruments Not Formally Designated as Hedges [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_DisclosureGainsAndLossesRecordedInConsolidatedStatementOfIncomeRelatedToDerivativeInstrumentsNotFormallyDesignatedAsHedgesAbstract_lbl" xml:lang="en-US">Disclosure Gains And Losses Recorded In Consolidated Statement Of Income Related To Derivative Instruments Not Formally Designated As Hedges [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_DisclosureGainsAndLossesRecordedInConsolidatedStatementOfIncomeRelatedToDerivativeInstrumentsNotFormallyDesignatedAsHedgesAbstract_lbl" xml:lang="en-US">Disclosure - Gains and Losses Recorded in Consolidated Statement of Income related to Derivative Instruments Not Formally Designated as Hedges [Abstract]</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_DisclosureGainsAndLossesRecordedInConsolidatedStatementOfIncomeRelatedToFairValueHedgesAbstract" xlink:label="ntrs_DisclosureGainsAndLossesRecordedInConsolidatedStatementOfIncomeRelatedToFairValueHedgesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_DisclosureGainsAndLossesRecordedInConsolidatedStatementOfIncomeRelatedToFairValueHedgesAbstract_lbl" xml:lang="en-US">Disclosure - Gains and Losses Recorded in Consolidated Statement of Income related to Fair Value Hedges [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_DisclosureGainsAndLossesRecordedInConsolidatedStatementOfIncomeRelatedToFairValueHedgesAbstract_lbl" xml:lang="en-US">Disclosure Gains And Losses Recorded In Consolidated Statement Of Income Related To Fair Value Hedges [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_DisclosureGainsAndLossesRecordedInConsolidatedStatementOfIncomeRelatedToFairValueHedgesAbstract_lbl" xml:lang="en-US">Disclosure - Gains and Losses Recorded in Consolidated Statement of Income related to Fair Value Hedges [Abstract]</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_DisclosureGoodwillAndOtherIntangiblesAdditionalInformationAbstract" xlink:label="ntrs_DisclosureGoodwillAndOtherIntangiblesAdditionalInformationAbstract"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_DisclosureGoodwillAndOtherIntangiblesAdditionalInformationAbstract_lbl" xml:lang="en-US">Disclosure Goodwill And Other Intangibles Additional Information [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_DisclosureGoodwillAndOtherIntangiblesAdditionalInformationAbstract_lbl" xml:lang="en-US">Disclosure - Goodwill and Other Intangibles - Additional Information [Abstract]</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_DisclosureHealthCareCostTrendRateAssumptionEffectsAbstract" xlink:label="ntrs_DisclosureHealthCareCostTrendRateAssumptionEffectsAbstract"/>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_DisclosureImpairedLoansBySegmentAndClassAbstract" xlink:label="ntrs_DisclosureImpairedLoansBySegmentAndClassAbstract"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_DisclosureImpairedLoansBySegmentAndClassAbstract_lbl" xml:lang="en-US">Disclosure - Impaired Loans by Segment and Class [Abstract]</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_DisclosureIncomeTaxesAdditionalInformationAbstract" xlink:label="ntrs_DisclosureIncomeTaxesAdditionalInformationAbstract"/>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_DisclosureInformationPertainingToStockOptionsGrantedVestedAndExercisedAbstract" xlink:label="ntrs_DisclosureInformationPertainingToStockOptionsGrantedVestedAndExercisedAbstract"/>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_EstimatedDiscountRateMarketRateOfPreferredStock" xlink:label="ntrs_EstimatedDiscountRateMarketRateOfPreferredStock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_EstimatedDiscountRateMarketRateOfPreferredStock_lbl" xml:lang="en-US">Estimated Discount Rate (Market Rate) of Preferred Stock</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_EstimatedDiscountRateMarketRateOfPreferredStock_lbl" xml:lang="en-US">Estimated Discount Rate Market Rate Of Preferred Stock</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_EstimatedDiscountRateMarketRateOfPreferredStock_lbl" xml:lang="en-US">Discounted cash flow model for fair value of preferred dividends, assumed market yield</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EstimateOfFairValueFairValueDisclosureMember_lbl" xml:lang="en-US">Estimate of Fair Value, Fair Value Disclosure</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">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">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">Fair Value, Assets and Liabilities Component Domain</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_FairValueAssetsAndLiabilitiesComponentsAxis_lbl" xml:lang="en-US">Fair Value, Assets and Liabilities Components Axis</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_FairValueAssetsAndLiabilitiesComponentsAxis_lbl" xml:lang="en-US">Fair Value Assets And Liabilities Components [Axis]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_FairValueAssetsAndLiabilitiesMeasuredOnARecurringBasisAxis_lbl" xml:lang="en-US">Fair Value, Assets and Liabilities Measured on a Recurring Basis Axis</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_FairValueAssetsAndLiabilitiesMeasuredOnARecurringBasisAxis_lbl" xml:lang="en-US">Fair Value, Assets and Liabilities Measured on a Recurring Basis Axis</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_FederalReserveAndFederalHomeLoanBankStock_lbl" xml:lang="en-US">This represents Federal Reserve and Federal Home Loan Bank stock.</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FinanceLeasesFinancingReceivableMember" xlink:label="us-gaap_FinanceLeasesFinancingReceivableMember"/>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_FinancialInstrumentDisclosureAxis" xlink:label="ntrs_FinancialInstrumentDisclosureAxis"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_FinancialInstrumentDisclosureAxis" xlink:to="ntrs_FinancialInstrumentDisclosureAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_FinancialInstrumentDisclosureDomain" xlink:label="ntrs_FinancialInstrumentDisclosureDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_FinancialInstrumentDisclosureDomain_lbl" xml:lang="en-US">Financial Instrument Disclosure [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_FinancialInstrumentDisclosureDomain_lbl" xml:lang="en-US">Financial Instrument Disclosure [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_FinancialInstrumentDisclosureDomain_lbl" xml:lang="en-US">Financial Instrument Disclosure [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_FinancialInstrumentDisclosureDomain" xlink:to="ntrs_FinancialInstrumentDisclosureDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralAxis" xlink:label="us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralAxis_lbl" xml:lang="en-US">Financial Instruments Owned And Pledged As Collateral [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralAxis_lbl" xml:lang="en-US">Financial Instruments Owned and Pledged as Collateral by Type [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralAxis" xlink:to="us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralLineItems" xlink:label="us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralLineItems_lbl" xml:lang="en-US">Financial Instruments Owned And Pledged As Collateral [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralLineItems_lbl" xml:lang="en-US">Financial Instruments Owned and Pledged as Collateral [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralLineItems" xlink:to="us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralTable" xlink:label="us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralTable_lbl" xml:lang="en-US">Financial Instruments Owned And Pledged As Collateral [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralTable_lbl" xml:lang="en-US">Financial Instruments Owned and Pledged as Collateral [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralTable" xlink:to="us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralTable_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralTypeDomain" xlink:label="us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralTypeDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralTypeDomain_lbl" xml:lang="en-US">Financial Instruments Owned And Pledged As Collateral Type [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralTypeDomain_lbl" xml:lang="en-US">Financial Instruments Owned and Pledged as Collateral, Type [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralTypeDomain" xlink:to="us-gaap_FinancialInstrumentsOwnedAndPledgedAsCollateralTypeDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FinancialStatementLineItemsWithDifferencesInReportedAmountAndReportingCurrencyDenominatedAmountsDomain" xlink:label="us-gaap_FinancialStatementLineItemsWithDifferencesInReportedAmountAndReportingCurrencyDenominatedAmountsDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancialStatementLineItemsWithDifferencesInReportedAmountAndReportingCurrencyDenominatedAmountsDomain_lbl" xml:lang="en-US">Financial Statement Line Items With Differences In Reported Amount And Reporting Currency Denominated Amounts [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancialStatementLineItemsWithDifferencesInReportedAmountAndReportingCurrencyDenominatedAmountsDomain_lbl" xml:lang="en-US">Financial Statement Line Items with Differences in Reported Amount and Reporting Currency Denominated Amounts [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancialStatementLineItemsWithDifferencesInReportedAmountAndReportingCurrencyDenominatedAmountsDomain" xlink:to="us-gaap_FinancialStatementLineItemsWithDifferencesInReportedAmountAndReportingCurrencyDenominatedAmountsDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_FinancingReceivable30To59DaysPastDueMember" xlink:label="ntrs_FinancingReceivable30To59DaysPastDueMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_FinancingReceivable30To59DaysPastDueMember_lbl" xml:lang="en-US">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_FinancingReceivable30To59DaysPastDueMember_lbl" xml:lang="en-US">Financing Receivable 30 To 59 Days Past Due [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_FinancingReceivable30To59DaysPastDueMember_lbl" xml:lang="en-US">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_FinancingReceivable30To59DaysPastDueMember" xlink:to="ntrs_FinancingReceivable30To59DaysPastDueMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_FinancingReceivable60To89DaysPastDueMember" xlink:label="ntrs_FinancingReceivable60To89DaysPastDueMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_FinancingReceivable60To89DaysPastDueMember_lbl" xml:lang="en-US">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_FinancingReceivable60To89DaysPastDueMember_lbl" xml:lang="en-US">Financing Receivable 60 To 89 Days Past Due [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_FinancingReceivable60To89DaysPastDueMember_lbl" xml:lang="en-US">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_FinancingReceivable60To89DaysPastDueMember" xlink:to="ntrs_FinancingReceivable60To89DaysPastDueMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_FinancingReceivable90DaysAndGreaterPastDueMember" xlink:label="ntrs_FinancingReceivable90DaysAndGreaterPastDueMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_FinancingReceivable90DaysAndGreaterPastDueMember_lbl" xml:lang="en-US">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_FinancingReceivable90DaysAndGreaterPastDueMember_lbl" xml:lang="en-US">Financing Receivable 90 Days And Greater Past Due [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_FinancingReceivable90DaysAndGreaterPastDueMember_lbl" xml:lang="en-US">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_FinancingReceivable90DaysAndGreaterPastDueMember" xlink:to="ntrs_FinancingReceivable90DaysAndGreaterPastDueMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FinancingReceivableAllowanceDomain" xlink:label="us-gaap_FinancingReceivableAllowanceDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivableAllowanceDomain_lbl" xml:lang="en-US">Financing Receivable Allowance [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancingReceivableAllowanceDomain_lbl" xml:lang="en-US">Financing Receivable Allowance [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivableAllowanceDomain" xlink:to="us-gaap_FinancingReceivableAllowanceDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment" xlink:label="us-gaap_FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment_lbl" xml:lang="en-US">Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment_lbl" xml:lang="en-US">Evaluated for Inherent Impairment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment" xlink:to="us-gaap_FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems" xlink:label="us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems_lbl" xml:lang="en-US">Financing Receivable Allowance For Credit Losses [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems_lbl" xml:lang="en-US">Financing Receivable, Allowance for Credit Losses [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems" xlink:to="us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FinancingReceivableByCreditQualityIndicatorDomain" xlink:label="us-gaap_FinancingReceivableByCreditQualityIndicatorDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivableByCreditQualityIndicatorDomain_lbl" xml:lang="en-US">Financing Receivable By Credit Quality Indicator [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancingReceivableByCreditQualityIndicatorDomain_lbl" xml:lang="en-US">Financing Receivable, by Credit Quality Indicator [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivableByCreditQualityIndicatorDomain" xlink:to="us-gaap_FinancingReceivableByCreditQualityIndicatorDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FinancingReceivableCollectivelyEvaluatedForImpairment" xlink:label="us-gaap_FinancingReceivableCollectivelyEvaluatedForImpairment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivableCollectivelyEvaluatedForImpairment_lbl" xml:lang="en-US">Financing Receivable Collectively Evaluated For Impairment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancingReceivableCollectivelyEvaluatedForImpairment_lbl" xml:lang="en-US">Evaluated for Inherent Impairment</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock" xlink:label="us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock_lbl" xml:lang="en-US">Financing Receivable Credit Quality Indicators Table [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock_lbl" xml:lang="en-US">Loan and Lease Segment and Class Balances Segregated by Borrower Ratings into "1 to 3", "4 to 5", and "6 to 9" (Watch List) Categories</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancingReceivableIndividuallyEvaluatedForImpairment_lbl" xml:lang="en-US">Specifically Evaluated for Impairment</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FinancingReceivableInformationByCreditQualityIndicatorAxis" xlink:label="us-gaap_FinancingReceivableInformationByCreditQualityIndicatorAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivableInformationByCreditQualityIndicatorAxis_lbl" xml:lang="en-US">Financing Receivable Information By Credit Quality Indicator [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancingReceivableInformationByCreditQualityIndicatorAxis_lbl" xml:lang="en-US">Financing Receivable Information by Credit Quality Indicator [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivableInformationByCreditQualityIndicatorAxis" xlink:to="us-gaap_FinancingReceivableInformationByCreditQualityIndicatorAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_FinancingReceivableInformationByDelinquencyStatusAxis" xlink:label="ntrs_FinancingReceivableInformationByDelinquencyStatusAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_FinancingReceivableInformationByDelinquencyStatusAxis_lbl" xml:lang="en-US">Financing Receivable Information By Delinquency Status [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_FinancingReceivableInformationByDelinquencyStatusAxis_lbl" xml:lang="en-US">Financing Receivable Information By Delinquency Status [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_FinancingReceivableInformationByDelinquencyStatusAxis_lbl" xml:lang="en-US">Financing Receivable Information By Delinquency Status [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_FinancingReceivableInformationByDelinquencyStatusAxis" xlink:to="ntrs_FinancingReceivableInformationByDelinquencyStatusAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_FinancingReceivableInformationByDelinquencyStatusDomain" xlink:label="ntrs_FinancingReceivableInformationByDelinquencyStatusDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_FinancingReceivableInformationByDelinquencyStatusDomain_lbl" xml:lang="en-US">Financing Receivable Information By Delinquency Status [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_FinancingReceivableInformationByDelinquencyStatusDomain_lbl" xml:lang="en-US">Financing Receivable Information By Delinquency Status [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_FinancingReceivableInformationByDelinquencyStatusDomain_lbl" xml:lang="en-US">Financing Receivable Information By Delinquency Status [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_FinancingReceivableInformationByDelinquencyStatusDomain" xlink:to="ntrs_FinancingReceivableInformationByDelinquencyStatusDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FinancingReceivableInformationByPortfolioSegmentAxis" xlink:label="us-gaap_FinancingReceivableInformationByPortfolioSegmentAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivableInformationByPortfolioSegmentAxis_lbl" xml:lang="en-US">Financing Receivable Information By Portfolio Segment [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancingReceivableInformationByPortfolioSegmentAxis_lbl" xml:lang="en-US">Financing Receivable Information by Portfolio Segment [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivableInformationByPortfolioSegmentAxis" xlink:to="us-gaap_FinancingReceivableInformationByPortfolioSegmentAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FinancingReceivableModificationsLineItems" xlink:label="us-gaap_FinancingReceivableModificationsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivableModificationsLineItems_lbl" xml:lang="en-US">Financing Receivable Modifications [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancingReceivableModificationsLineItems_lbl" xml:lang="en-US">Financing Receivable, Modifications [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivableModificationsLineItems" xlink:to="us-gaap_FinancingReceivableModificationsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_FinancingReceivableModificationsNumberOfContractsInPeriod" xlink:label="ntrs_FinancingReceivableModificationsNumberOfContractsInPeriod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_FinancingReceivableModificationsNumberOfContractsInPeriod_lbl" xml:lang="en-US">Financing Receivable, Modifications, Number of Contracts in Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_FinancingReceivableModificationsNumberOfContractsInPeriod_lbl" xml:lang="en-US">Financing Receivable Modifications Number Of Contracts In Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_FinancingReceivableModificationsNumberOfContractsInPeriod_lbl" xml:lang="en-US">NUMBER OF LOANS AND LEASES</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FinancingReceivableModificationsRecordedInvestment" xlink:label="us-gaap_FinancingReceivableModificationsRecordedInvestment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivableModificationsRecordedInvestment_lbl" xml:lang="en-US">Financing Receivable Modifications Recorded Investment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancingReceivableModificationsRecordedInvestment_lbl" xml:lang="en-US">RECORDED INVESTMENT</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivableModificationsRecordedInvestment" xlink:to="us-gaap_FinancingReceivableModificationsRecordedInvestment_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.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">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">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/2011/elts/us-gaap-2011-01-31.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">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">60 - 89 DAYS PAST DUE</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.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">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">Financing Receivable, Recorded Investment, by Class of Financing Receivable [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/2011/elts/us-gaap-2011-01-31.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">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">Financing Receivable, Recorded Investment, 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/2011/elts/us-gaap-2011-01-31.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">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">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/2011/elts/us-gaap-2011-01-31.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">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">90 DAYS OR MORE PAST DUE</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.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">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">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-20111231.xsd#ntrs_FinancingReceivablesAllowanceForCreditLossesIndividuallyEvaluatedForImpairment" xlink:label="ntrs_FinancingReceivablesAllowanceForCreditLossesIndividuallyEvaluatedForImpairment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_FinancingReceivablesAllowanceForCreditLossesIndividuallyEvaluatedForImpairment_lbl" xml:lang="en-US">The valuation allowance for financing receivables that are expected to be uncollectible that were individually evaluated for impairment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_FinancingReceivablesAllowanceForCreditLossesIndividuallyEvaluatedForImpairment_lbl" xml:lang="en-US">Financing Receivables Allowance For Credit Losses Individually Evaluated For Impairment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_FinancingReceivablesAllowanceForCreditLossesIndividuallyEvaluatedForImpairment_lbl" xml:lang="en-US">Specifically Evaluated for Impairment</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FinancingReceivableTroubledDebtRestructuringsAxis" xlink:label="us-gaap_FinancingReceivableTroubledDebtRestructuringsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivableTroubledDebtRestructuringsAxis_lbl" xml:lang="en-US">Financing Receivable Troubled Debt Restructurings [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancingReceivableTroubledDebtRestructuringsAxis_lbl" xml:lang="en-US">Financing Receivable, Troubled Debt Restructurings [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivableTroubledDebtRestructuringsAxis" xlink:to="us-gaap_FinancingReceivableTroubledDebtRestructuringsAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FinancingReceivableTroubledDebtRestructuringsDomain" xlink:label="us-gaap_FinancingReceivableTroubledDebtRestructuringsDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivableTroubledDebtRestructuringsDomain_lbl" xml:lang="en-US">Financing Receivable Troubled Debt Restructurings [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancingReceivableTroubledDebtRestructuringsDomain_lbl" xml:lang="en-US">Financing Receivable, Troubled Debt Restructurings [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivableTroubledDebtRestructuringsDomain" xlink:to="us-gaap_FinancingReceivableTroubledDebtRestructuringsDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FinancingReceivableTroubledDebtRestructuringsThatSubsequentlyDefaultedAxis" xlink:label="us-gaap_FinancingReceivableTroubledDebtRestructuringsThatSubsequentlyDefaultedAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivableTroubledDebtRestructuringsThatSubsequentlyDefaultedAxis_lbl" xml:lang="en-US">Financing Receivable Troubled Debt Restructurings That Subsequently Defaulted [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancingReceivableTroubledDebtRestructuringsThatSubsequentlyDefaultedAxis_lbl" xml:lang="en-US">Financing Receivable, Troubled Debt Restructurings that Subsequently Defaulted [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivableTroubledDebtRestructuringsThatSubsequentlyDefaultedAxis" xlink:to="us-gaap_FinancingReceivableTroubledDebtRestructuringsThatSubsequentlyDefaultedAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FinancingReceivableTroubledDebtRestructuringsThatSubsequentlyDefaultedDomain" xlink:label="us-gaap_FinancingReceivableTroubledDebtRestructuringsThatSubsequentlyDefaultedDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivableTroubledDebtRestructuringsThatSubsequentlyDefaultedDomain_lbl" xml:lang="en-US">Financing Receivable Troubled Debt Restructurings That Subsequently Defaulted [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancingReceivableTroubledDebtRestructuringsThatSubsequentlyDefaultedDomain_lbl" xml:lang="en-US">Financing Receivable, Troubled Debt Restructurings that Subsequently Defaulted [Domain]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_FixedRateCorporateSeniorNotes3.38PercentDueAugust2021Member_lbl" xml:lang="en-US">Fixed Rate Corporate Senior Notes 3.38 Percent Due August 2021 [Member]</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_FloridaMember" xlink:label="ntrs_FloridaMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_FloridaMember_lbl" xml:lang="en-US">Florida [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_FloridaMember_lbl" xml:lang="en-US">Florida [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_FloridaMember_lbl" xml:lang="en-US">Florida</label>
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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">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">Forecasted Foreign Currency Denominated Transactions</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_ForecastedTransactionsAxis_lbl" xml:lang="en-US">Forecasted Transactions [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_ForecastedTransactionsAxis_lbl" xml:lang="en-US">Forecasted Transactions [Axis]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_ForecastedTransactionsDomain_lbl" xml:lang="en-US">Forecasted Transactions [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_ForecastedTransactionsDomain_lbl" xml:lang="en-US">Forecasted Transactions [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_ForecastedTransactionsDomain_lbl" xml:lang="en-US">Forecasted Transactions [Domain]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ForeignCountryMember_lbl" xml:lang="en-US">Foreign Country [Member]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ForeignCurrencyCashFlowHedgeGainLossToBeReclassifiedDuringNext12Months" xlink:label="us-gaap_ForeignCurrencyCashFlowHedgeGainLossToBeReclassifiedDuringNext12Months"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ForeignCurrencyGainLossMember_lbl" xml:lang="en-US">Foreign Currency Gain Loss [Member]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignCurrencyGainLossMember" xlink:to="us-gaap_ForeignCurrencyGainLossMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_lbl" xml:lang="en-US">Foreign Currency Transaction Gain Loss Before Tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_lbl" xml:lang="en-US">Foreign Exchange Trading Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:to="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:label="us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_lbl" xml:lang="en-US">Foreign Currency Transactions And Translations Policy [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_lbl" xml:lang="en-US">Foreign Currency Translation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:to="us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ForeignExchangeContractMember" xlink:label="us-gaap_ForeignExchangeContractMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ForeignExchangeContractMember_lbl" xml:lang="en-US">Foreign Exchange Contract [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ForeignExchangeContractMember_lbl" xml:lang="en-US">Foreign Exchange Contracts</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignExchangeContractMember" xlink:to="us-gaap_ForeignExchangeContractMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ForeignGovernmentDebtSecuritiesMember" xlink:label="us-gaap_ForeignGovernmentDebtSecuritiesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ForeignGovernmentDebtSecuritiesMember_lbl" xml:lang="en-US">Foreign Government Debt Securities [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ForeignGovernmentDebtSecuritiesMember_lbl" xml:lang="en-US">Non-U.S. Government</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignGovernmentDebtSecuritiesMember" xlink:to="us-gaap_ForeignGovernmentDebtSecuritiesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ForeignPensionPlansDefinedBenefitMember" xlink:label="us-gaap_ForeignPensionPlansDefinedBenefitMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ForeignPensionPlansDefinedBenefitMember_lbl" xml:lang="en-US">Foreign Pension Plans Defined Benefit [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ForeignPensionPlansDefinedBenefitMember_lbl" xml:lang="en-US">Foreign Pension Plans, Defined Benefit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignPensionPlansDefinedBenefitMember" xlink:to="us-gaap_ForeignPensionPlansDefinedBenefitMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ForwardContractsMember" xlink:label="us-gaap_ForwardContractsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ForwardContractsMember_lbl" xml:lang="en-US">Forward Contracts [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ForwardContractsMember_lbl" xml:lang="en-US">Forward Contracts</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForwardContractsMember" xlink:to="us-gaap_ForwardContractsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_FourthAnniversaryOfGrantDateMember" xlink:label="ntrs_FourthAnniversaryOfGrantDateMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_FourthAnniversaryOfGrantDateMember_lbl" xml:lang="en-US">Fourth Anniversary Of Grant Date [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_FourthAnniversaryOfGrantDateMember_lbl" xml:lang="en-US">Fourth Anniversary Of Grant Date [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_FourthAnniversaryOfGrantDateMember_lbl" xml:lang="en-US">Fourth Anniversary Of Grant Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_FourthAnniversaryOfGrantDateMember" xlink:to="ntrs_FourthAnniversaryOfGrantDateMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_FourthQuarterAverageAssetsMember" xlink:label="ntrs_FourthQuarterAverageAssetsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_FourthQuarterAverageAssetsMember_lbl" xml:lang="en-US">Fourth Quarter Average Assets [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_FourthQuarterAverageAssetsMember_lbl" xml:lang="en-US">Fourth Quarter Average Assets [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_FourthQuarterAverageAssetsMember_lbl" xml:lang="en-US">Fourth Quarter Average Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_FourthQuarterAverageAssetsMember" xlink:to="ntrs_FourthQuarterAverageAssetsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_FundingOfAssetsCostViaDebt" xlink:label="ntrs_FundingOfAssetsCostViaDebt"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_FundingOfAssetsCostViaDebt_lbl" xml:lang="en-US">Funding of asset's cost provided by third party non-recourse debt holders.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_FundingOfAssetsCostViaDebt_lbl" xml:lang="en-US">Funding Of Assets Cost Via Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_FundingOfAssetsCostViaDebt_lbl" xml:lang="en-US">Funding of asset's cost via third party non recourse debt holders</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_FundingOfAssetsCostViaDebt" xlink:to="ntrs_FundingOfAssetsCostViaDebt_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_FundingOfAssetsCostViaEquityInterest" xlink:label="ntrs_FundingOfAssetsCostViaEquityInterest"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_FundingOfAssetsCostViaEquityInterest_lbl" xml:lang="en-US">Funding of asset's cost via an equity ownership in a trust.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_FundingOfAssetsCostViaEquityInterest_lbl" xml:lang="en-US">Funding Of Assets Cost Via Equity Interest</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_FundingOfAssetsCostViaEquityInterest_lbl" xml:lang="en-US">Funding of asset's cost via an equity interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_FundingOfAssetsCostViaEquityInterest" xlink:to="ntrs_FundingOfAssetsCostViaEquityInterest_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_FundsLiquidatedThereafterPercentage" xlink:label="ntrs_FundsLiquidatedThereafterPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_FundsLiquidatedThereafterPercentage_lbl" xml:lang="en-US">Funds liquidated Thereafter, percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_FundsLiquidatedThereafterPercentage_lbl" xml:lang="en-US">Funds Liquidated Thereafter Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_FundsLiquidatedThereafterPercentage_lbl" xml:lang="en-US">Dividends liquidation preference percentage, thereafter</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_FundsLiquidatedThereafterPercentage" xlink:to="ntrs_FundsLiquidatedThereafterPercentage_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_FundsLiquidatedWithinNextFiveYearsPercentage" xlink:label="ntrs_FundsLiquidatedWithinNextFiveYearsPercentage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_FundsLiquidatedWithinNextFiveYearsPercentage_lbl" xml:lang="en-US">Funds liquidated within the next five years, percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_FundsLiquidatedWithinNextFiveYearsPercentage_lbl" xml:lang="en-US">Funds Liquidated Within Next Five Years Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_FundsLiquidatedWithinNextFiveYearsPercentage_lbl" xml:lang="en-US">Dividends liquidation preference percentage, within next five years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_FundsLiquidatedWithinNextFiveYearsPercentage" xlink:to="ntrs_FundsLiquidatedWithinNextFiveYearsPercentage_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FutureAmortizationExpenseYearFive" xlink:label="us-gaap_FutureAmortizationExpenseYearFive"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FutureAmortizationExpenseYearFive_lbl" xml:lang="en-US">Future Amortization Expense Year Five</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FutureAmortizationExpenseYearFive_lbl" xml:lang="en-US">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_FutureAmortizationExpenseYearFive" xlink:to="us-gaap_FutureAmortizationExpenseYearFive_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FutureAmortizationExpenseYearFour" xlink:label="us-gaap_FutureAmortizationExpenseYearFour"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FutureAmortizationExpenseYearFour_lbl" xml:lang="en-US">Future Amortization Expense Year Four</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FutureAmortizationExpenseYearFour_lbl" xml:lang="en-US">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_FutureAmortizationExpenseYearFour" xlink:to="us-gaap_FutureAmortizationExpenseYearFour_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FutureAmortizationExpenseYearOne" xlink:label="us-gaap_FutureAmortizationExpenseYearOne"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FutureAmortizationExpenseYearOne_lbl" xml:lang="en-US">Future Amortization Expense Year One</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FutureAmortizationExpenseYearOne_lbl" xml:lang="en-US">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_FutureAmortizationExpenseYearOne" xlink:to="us-gaap_FutureAmortizationExpenseYearOne_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FutureAmortizationExpenseYearThree" xlink:label="us-gaap_FutureAmortizationExpenseYearThree"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FutureAmortizationExpenseYearThree_lbl" xml:lang="en-US">Future Amortization Expense Year Three</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FutureAmortizationExpenseYearThree_lbl" xml:lang="en-US">Estimated future amortization expense for 2014</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FutureAmortizationExpenseYearTwo" xlink:label="us-gaap_FutureAmortizationExpenseYearTwo"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FutureAmortizationExpenseYearTwo_lbl" xml:lang="en-US">Future Amortization Expense Year Two</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FutureAmortizationExpenseYearTwo_lbl" xml:lang="en-US">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_FutureAmortizationExpenseYearTwo" xlink:to="us-gaap_FutureAmortizationExpenseYearTwo_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_FutureMinimumLeasePaymentsToBeReceivedCapitalLeaseTableTextBlock" xlink:label="ntrs_FutureMinimumLeasePaymentsToBeReceivedCapitalLeaseTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_FutureMinimumLeasePaymentsToBeReceivedCapitalLeaseTableTextBlock_lbl" xml:lang="en-US">Future Minimum Lease Payments to be Received, Capital Lease [Table Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_FutureMinimumLeasePaymentsToBeReceivedCapitalLeaseTableTextBlock_lbl" xml:lang="en-US">Future Minimum Lease Payments To Be Received Capital Lease Table [Text Block]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_FutureMinimumLeasePaymentsToBeReceivedCapitalLeaseTableTextBlock" xlink:to="ntrs_FutureMinimumLeasePaymentsToBeReceivedCapitalLeaseTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GainLossOnInvestments" xlink:label="us-gaap_GainLossOnInvestments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GainLossOnInvestments_lbl" xml:lang="en-US">Gain Loss On Investments</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_GainLossOnInvestments_lbl" xml:lang="en-US">Investment Security (Gains) Losses, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainLossOnInvestments" xlink:to="us-gaap_GainLossOnInvestments_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GainLossOnInvestmentsByCategoryAxis" xlink:label="us-gaap_GainLossOnInvestmentsByCategoryAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GainLossOnInvestmentsByCategoryAxis_lbl" xml:lang="en-US">Gain Loss On Investments By Category [Axis]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_GoodwillAndIntangibleAssetsDisclosureTable_lbl" xml:lang="en-US">Goodwill And Intangible Assets Disclosure [Table]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_GreaterChicagoAreaMember_lbl" xml:lang="en-US">Greater Chicago Area [Member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_HedgedItemDomain_lbl" xml:lang="en-US">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">Hedged Item [Domain]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_HedgingDesignationAxis_lbl" xml:lang="en-US">Hedging Designation [Axis]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxReconciliationForeignIncomeTaxRateDifferential_lbl" xml:lang="en-US">Income Tax Reconciliation Foreign Income Tax Rate Differential</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate" xlink:label="us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_lbl" xml:lang="en-US">Tax at Statutory Rate</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_IncomeTaxReconciliationLeveragedLeaseAdjustments" xlink:label="ntrs_IncomeTaxReconciliationLeveragedLeaseAdjustments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_IncomeTaxReconciliationLeveragedLeaseAdjustments_lbl" xml:lang="en-US">Income Tax Reconciliation, Leveraged Lease Adjustments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_IncomeTaxReconciliationLeveragedLeaseAdjustments_lbl" xml:lang="en-US">Income Tax Reconciliation Leveraged Lease Adjustments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_IncomeTaxReconciliationLeveragedLeaseAdjustments_lbl" xml:lang="en-US">Leveraged Lease Adjustments</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeTaxReconciliationOtherAdjustments" xlink:label="us-gaap_IncomeTaxReconciliationOtherAdjustments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxReconciliationOtherAdjustments_lbl" xml:lang="en-US">Income Tax Reconciliation Other Adjustments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeTaxReconciliationOtherAdjustments_lbl" xml:lang="en-US">Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationOtherAdjustments" xlink:to="us-gaap_IncomeTaxReconciliationOtherAdjustments_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes" xlink:label="us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes_lbl" xml:lang="en-US">Income Tax Reconciliation State And Local Income Taxes</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes_lbl" xml:lang="en-US">State Taxes, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes" xlink:to="us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeTaxReconciliationTaxExemptIncome" xlink:label="us-gaap_IncomeTaxReconciliationTaxExemptIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxReconciliationTaxExemptIncome_lbl" xml:lang="en-US">Income Tax Reconciliation Tax Exempt Income</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationTaxExemptIncome" xlink:to="us-gaap_IncomeTaxReconciliationTaxExemptIncome_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable" xlink:label="us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable_lbl" xml:lang="en-US">Increase Decrease In Accrued Income Taxes Payable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable_lbl" xml:lang="en-US">Increase (Decrease) in Accrued Income Taxes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable" xlink:to="us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInDeposits" xlink:label="us-gaap_IncreaseDecreaseInDeposits"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInDeposits_lbl" xml:lang="en-US">Increase Decrease In Deposits</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInDeposits_lbl" xml:lang="en-US">Net Increase (Decrease) in Deposits</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInDerivativeAssets" xlink:label="us-gaap_IncreaseDecreaseInDerivativeAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInDerivativeAssets_lbl" xml:lang="en-US">Increase Decrease In Derivative Assets</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_IncreaseDecreaseInDerivativeAssets_lbl" xml:lang="en-US">Changes in Derivative Instrument (Gains) Losses, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInDerivativeAssets" xlink:to="us-gaap_IncreaseDecreaseInDerivativeAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInFederalFundsPurchased" xlink:label="us-gaap_IncreaseDecreaseInFederalFundsPurchased"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInFederalFundsPurchased_lbl" xml:lang="en-US">Increase Decrease In Federal Funds Purchased</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_IncreaseDecreaseInFederalFundsPurchased_lbl" xml:lang="en-US">Net Increase (Decrease) in Federal Funds Purchased</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInInterestPayableNet" xlink:label="us-gaap_IncreaseDecreaseInInterestPayableNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInInterestPayableNet_lbl" xml:lang="en-US">Increase Decrease In Interest Payable Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInInterestPayableNet_lbl" xml:lang="en-US">Increase (Decrease) in Interest Payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInInterestPayableNet" xlink:to="us-gaap_IncreaseDecreaseInInterestPayableNet_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet_lbl" xml:lang="en-US">Increase Decrease In Other Operating Capital Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet_lbl" xml:lang="en-US">Other, net</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidExpense" xlink:label="us-gaap_IncreaseDecreaseInPrepaidExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInPrepaidExpense_lbl" xml:lang="en-US">Increase Decrease In Prepaid Expense</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_IncreaseDecreaseInPrepaidExpense_lbl" xml:lang="en-US">Decrease in Prepaid Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInPrepaidExpense" xlink:to="us-gaap_IncreaseDecreaseInPrepaidExpense_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInReceivables" xlink:label="us-gaap_IncreaseDecreaseInReceivables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInReceivables_lbl" xml:lang="en-US">Increase Decrease In Receivables</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_IncreaseDecreaseInReceivables_lbl" xml:lang="en-US">(Increase) Decrease in Receivables</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:label="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_lbl" xml:lang="en-US">Plus Stock Option Dilution</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_IndemnificationLiabilitiesCurrent" xlink:label="ntrs_IndemnificationLiabilitiesCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_IndemnificationLiabilitiesCurrent_lbl" xml:lang="en-US">Carrying amount as of balance sheet date of the Visa related indemnification liability, included within Other Liabilities.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_IndemnificationLiabilitiesCurrent_lbl" xml:lang="en-US">Indemnification Liabilities Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_IndemnificationLiabilitiesCurrent_lbl" xml:lang="en-US">Fair value of net Visa indemnification liability</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_IndustryTypeAxis" xlink:label="ntrs_IndustryTypeAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_IndustryTypeAxis_lbl" xml:lang="en-US">Industry Type [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_IndustryTypeAxis_lbl" xml:lang="en-US">Industry Type [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_IndustryTypeAxis_lbl" xml:lang="en-US">Industry Type [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_IndustryTypeAxis" xlink:to="ntrs_IndustryTypeAxis_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_IndustryTypeDomain_lbl" xml:lang="en-US">Industry Type [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_IndustryTypeDomain_lbl" xml:lang="en-US">Industry Type [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_IndustryTypeDomain_lbl" xml:lang="en-US">Industry Type [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_IndustryTypeDomain" xlink:to="ntrs_IndustryTypeDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InformationByFinancialStatementLineItemAxis" xlink:label="us-gaap_InformationByFinancialStatementLineItemAxis"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="invest_InvestmentDomain_lbl" xml:lang="en-US">Investment [Domain]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_JuniorSubordinatedDebentureOwedToUnconsolidatedSubsidiaryTrust_lbl" xml:lang="en-US">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">Floating Rate Capital Debt</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LandImprovementsMember" xlink:label="us-gaap_LandImprovementsMember"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LandImprovementsMember_lbl" xml:lang="en-US">Land Improvements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LandImprovementsMember" xlink:to="us-gaap_LandImprovementsMember_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_LeaseCommitmentAxis_lbl" xml:lang="en-US">Lease Commitment [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_LeaseCommitmentAxis_lbl" xml:lang="en-US">Lease Commitment [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_LeaseCommitmentAxis_lbl" xml:lang="en-US">Lease Commitment [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_LeaseCommitmentAxis" xlink:to="ntrs_LeaseCommitmentAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_LeaseCommitmentDomain" xlink:label="ntrs_LeaseCommitmentDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_LeaseCommitmentDomain_lbl" xml:lang="en-US">Lease Commitment [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_LeaseCommitmentDomain_lbl" xml:lang="en-US">Lease Commitment [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_LeaseCommitmentDomain_lbl" xml:lang="en-US">Lease Commitment [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_LeaseCommitmentDomain" xlink:to="ntrs_LeaseCommitmentDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LeaseholdImprovementsMember" xlink:label="us-gaap_LeaseholdImprovementsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LeaseholdImprovementsMember_lbl" xml:lang="en-US">Leasehold Improvements [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LeaseholdImprovementsMember_lbl" xml:lang="en-US">Leasehold Improvements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeaseholdImprovementsMember" xlink:to="us-gaap_LeaseholdImprovementsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_LeasePaymentTerm" xlink:label="ntrs_LeasePaymentTerm"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_LeasePaymentTerm_lbl" xml:lang="en-US">Lease Payment Term</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_LeasePaymentTerm_lbl" xml:lang="en-US">Lease Payment Term</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_LeasePaymentTerm_lbl" xml:lang="en-US">Future minimum lease payments, term</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_LeasePaymentTerm" xlink:to="ntrs_LeasePaymentTerm_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LeasesOfLesseeDisclosureTextBlock" xlink:label="us-gaap_LeasesOfLesseeDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LeasesOfLesseeDisclosureTextBlock_lbl" xml:lang="en-US">Leases Of Lessee Disclosure [Text Block]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeasesOfLesseeDisclosureTextBlock" xlink:to="us-gaap_LeasesOfLesseeDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.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">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">Lease Financing, net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LeasesReceivableCommercialLeaseFinancing_lbl" xml:lang="en-US">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/2011/dei-2011-01-31.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">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">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="ntrs-20111231.xsd#ntrs_LegallyBindingCommitmentsToExtendCredit" xlink:label="ntrs_LegallyBindingCommitmentsToExtendCredit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_LegallyBindingCommitmentsToExtendCredit_lbl" xml:lang="en-US">Legally Binding Commitments to Extend Credit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_LegallyBindingCommitmentsToExtendCredit_lbl" xml:lang="en-US">Legally Binding Commitments To Extend Credit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_LegallyBindingCommitmentsToExtendCredit_lbl" xml:lang="en-US">Legally Binding Commitments to Extend Credit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_LegallyBindingCommitmentsToExtendCredit" xlink:to="ntrs_LegallyBindingCommitmentsToExtendCredit_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.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">Letters Of Credit Outstanding Amount</label>
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    <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-20111231.xsd#ntrs_LeveragedLeaseObligationsMember" xlink:label="ntrs_LeveragedLeaseObligationsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_LeveragedLeaseObligationsMember_lbl" xml:lang="en-US">Leveraged Lease Obligations [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_LeveragedLeaseObligationsMember_lbl" xml:lang="en-US">Leveraged Lease Obligations [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_LeveragedLeaseObligationsMember_lbl" xml:lang="en-US">Leveraged Lease Obligations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_LeveragedLeaseObligationsMember" xlink:to="ntrs_LeveragedLeaseObligationsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LeveragedLeasesAbstract" xlink:label="us-gaap_LeveragedLeasesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LeveragedLeasesAbstract_lbl" xml:lang="en-US">Leveraged Leases [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LeveragedLeasesAbstract_lbl" xml:lang="en-US">Leveraged Leases:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeveragedLeasesAbstract" xlink:to="us-gaap_LeveragedLeasesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.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">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">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">Leveraged Leases [Axis]</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-20111231.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">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">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">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="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LeveragedLeasesIncomeStatementIncomeTaxExpenseOnLeveragedLeases" xlink:label="us-gaap_LeveragedLeasesIncomeStatementIncomeTaxExpenseOnLeveragedLeases"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LeveragedLeasesIncomeStatementIncomeTaxExpenseOnLeveragedLeases_lbl" xml:lang="en-US">Leveraged Leases Income Statement Income Tax Expense On Leveraged Leases</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LeveragedLeasesIncomeStatementIncomeTaxExpenseOnLeveragedLeases_lbl" xml:lang="en-US">Application of new tax estimates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeveragedLeasesIncomeStatementIncomeTaxExpenseOnLeveragedLeases" xlink:to="us-gaap_LeveragedLeasesIncomeStatementIncomeTaxExpenseOnLeveragedLeases_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.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">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">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">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/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LeveragedLeasesNetInvestmentInLeveragedLeasesDisclosureDeferredIncome" xlink:label="us-gaap_LeveragedLeasesNetInvestmentInLeveragedLeasesDisclosureDeferredIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LeveragedLeasesNetInvestmentInLeveragedLeasesDisclosureDeferredIncome_lbl" xml:lang="en-US">Leveraged Leases Net Investment In Leveraged Leases Disclosure Deferred Income</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_LeveragedLeasesNetInvestmentInLeveragedLeasesDisclosureDeferredIncome_lbl" xml:lang="en-US">Unearned Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeveragedLeasesNetInvestmentInLeveragedLeasesDisclosureDeferredIncome" xlink:to="us-gaap_LeveragedLeasesNetInvestmentInLeveragedLeasesDisclosureDeferredIncome_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LeveragedLeasesNetInvestmentInLeveragedLeasesDisclosureInvestmentInLeveragedLeasesNet" xlink:label="us-gaap_LeveragedLeasesNetInvestmentInLeveragedLeasesDisclosureInvestmentInLeveragedLeasesNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LeveragedLeasesNetInvestmentInLeveragedLeasesDisclosureInvestmentInLeveragedLeasesNet_lbl" xml:lang="en-US">Leveraged Leases Net Investment In Leveraged Leases Disclosure Investment In Leveraged Leases Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LeveragedLeasesNetInvestmentInLeveragedLeasesDisclosureInvestmentInLeveragedLeasesNet_lbl" xml:lang="en-US">Investment in Leveraged Leases</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LeveragedLeasesNetInvestmentInLeveragedLeasesDisclosureRentalReceivablesNet" xlink:label="us-gaap_LeveragedLeasesNetInvestmentInLeveragedLeasesDisclosureRentalReceivablesNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LeveragedLeasesNetInvestmentInLeveragedLeasesDisclosureRentalReceivablesNet_lbl" xml:lang="en-US">Leveraged Leases Net Investment In Leveraged Leases Disclosure Rental Receivables Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LeveragedLeasesNetInvestmentInLeveragedLeasesDisclosureRentalReceivablesNet_lbl" xml:lang="en-US">Net Rental Receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeveragedLeasesNetInvestmentInLeveragedLeasesDisclosureRentalReceivablesNet" xlink:to="us-gaap_LeveragedLeasesNetInvestmentInLeveragedLeasesDisclosureRentalReceivablesNet_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LeveragedLeasesNetInvestmentInLeveragedLeasesDisclosureResidualValueOfLeasedAssets" xlink:label="us-gaap_LeveragedLeasesNetInvestmentInLeveragedLeasesDisclosureResidualValueOfLeasedAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LeveragedLeasesNetInvestmentInLeveragedLeasesDisclosureResidualValueOfLeasedAssets_lbl" xml:lang="en-US">Leveraged Leases Net Investment In Leveraged Leases Disclosure Residual Value Of Leased Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LeveragedLeasesNetInvestmentInLeveragedLeasesDisclosureResidualValueOfLeasedAssets_lbl" xml:lang="en-US">Residual Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeveragedLeasesNetInvestmentInLeveragedLeasesDisclosureResidualValueOfLeasedAssets" xlink:to="us-gaap_LeveragedLeasesNetInvestmentInLeveragedLeasesDisclosureResidualValueOfLeasedAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.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">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">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/2011/elts/us-gaap-2011-01-31.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">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">LIABILITIES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAbstract" xlink:to="us-gaap_LiabilitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.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">Liabilities And Stockholders Equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US">Total 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">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/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesFairValueDisclosure" xlink:label="us-gaap_LiabilitiesFairValueDisclosure"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesFairValueDisclosure_lbl" xml:lang="en-US">Liabilities Fair Value Disclosure</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LiabilitiesFairValueDisclosure_lbl" xml:lang="en-US">Total Liabilities at Fair Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesFairValueDisclosure" xlink:to="us-gaap_LiabilitiesFairValueDisclosure_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LineOfCreditFacilityAxis" xlink:label="us-gaap_LineOfCreditFacilityAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityAxis_lbl" xml:lang="en-US">Line Of Credit Facility [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LineOfCreditFacilityAxis_lbl" xml:lang="en-US">Line of Credit Facility [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityAxis" xlink:to="us-gaap_LineOfCreditFacilityAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LineOfCreditFacilityLenderDomain" xlink:label="us-gaap_LineOfCreditFacilityLenderDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityLenderDomain_lbl" xml:lang="en-US">Line Of Credit Facility Lender [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LineOfCreditFacilityLenderDomain_lbl" xml:lang="en-US">Line of Credit Facility, Lender [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityLenderDomain" xlink:to="us-gaap_LineOfCreditFacilityLenderDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_LoanCommitmentMember" xlink:label="ntrs_LoanCommitmentMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_LoanCommitmentMember_lbl" xml:lang="en-US">Loan Commitment [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_LoanCommitmentMember_lbl" xml:lang="en-US">Loan Commitment [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_LoanCommitmentMember_lbl" xml:lang="en-US">Loan Commitments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_LoanCommitmentMember" xlink:to="ntrs_LoanCommitmentMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_LoansAndLeasesPolicyTextBlock" xlink:label="ntrs_LoansAndLeasesPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_LoansAndLeasesPolicyTextBlock_lbl" xml:lang="en-US">Loans and Leases Policy</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_LoansAndLeasesPolicyTextBlock_lbl" xml:lang="en-US">Loans And Leases Policy [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_LoansAndLeasesPolicyTextBlock_lbl" xml:lang="en-US">Loans and Leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_LoansAndLeasesPolicyTextBlock" xlink:to="ntrs_LoansAndLeasesPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.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">Loans And Leases Receivable Allowance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LoansAndLeasesReceivableAllowance_lbl" xml:lang="en-US">Allowance assigned to loans and leases</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LoansAndLeasesReceivableAllowance_lbl" xml:lang="en-US">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">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-20111231.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">This represents reserve for credit losses at the respective balance sheet date.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_LoansAndLeasesReceivableAllowanceForLosses_lbl" xml:lang="en-US">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">Balance at End of Year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ntrs_LoansAndLeasesReceivableAllowanceForLosses_lbl" xml:lang="en-US">Balance at Beginning of Year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ntrs_LoansAndLeasesReceivableAllowanceForLosses_lbl" xml:lang="en-US">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/2011/elts/us-gaap-2011-01-31.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">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">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="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.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">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">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/2011/elts/us-gaap-2011-01-31.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">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">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/2011/elts/us-gaap-2011-01-31.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">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">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/2011/elts/us-gaap-2011-01-31.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">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">TOTAL LOANS AND LEASES</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome_lbl" xml:lang="en-US">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/2011/elts/us-gaap-2011-01-31.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">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">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/2011/elts/us-gaap-2011-01-31.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">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">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-20111231.xsd#ntrs_LoansAndLeasesReceivableNonaccrualLoanAndLeasePolicy" xlink:label="ntrs_LoansAndLeasesReceivableNonaccrualLoanAndLeasePolicy"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_LoansAndLeasesReceivableNonaccrualLoanAndLeasePolicy_lbl" xml:lang="en-US">Describes the policy as to when a loan ceases to accrue interest or other revenue because the borrower is in financial difficulty. Also includes the policy for determining past-due or delinquency status (i.e. whether past-due status is based on how recently payments have been received or on contractual terms).</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_LoansAndLeasesReceivableNonaccrualLoanAndLeasePolicy_lbl" xml:lang="en-US">Loans And Leases Receivable Nonaccrual Loan And Lease Policy</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_LoansAndLeasesReceivableNonaccrualLoanAndLeasePolicy_lbl" xml:lang="en-US">Days contractually past due for interest and principal and the loan is not well-secured and in the process of collection</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_LoansAndLeasesReceivableNonaccrualLoanAndLeasePolicy" xlink:to="ntrs_LoansAndLeasesReceivableNonaccrualLoanAndLeasePolicy_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.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">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">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-20111231.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">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">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">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-20111231.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">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">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">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="ntrs-20111231.xsd#ntrs_LoansAndLeasesReceivableTroubledDebtRestructuringReclassification" xlink:label="ntrs_LoansAndLeasesReceivableTroubledDebtRestructuringReclassification"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_LoansAndLeasesReceivableTroubledDebtRestructuringReclassification_lbl" xml:lang="en-US">Policy for loan agreements whose terms have been modified because of the inability of the borrower for financial reasons to comply with the terms of the original loan agreement. A creditor discloses material facts pertaining to significant modifications.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_LoansAndLeasesReceivableTroubledDebtRestructuringReclassification_lbl" xml:lang="en-US">Loans And Leases Receivable Troubled Debt Restructuring Reclassification</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_LoansAndLeasesReceivableTroubledDebtRestructuringReclassification_lbl" xml:lang="en-US">Period for which troubled debt restructurings with modified terms is performing before ceasing to be classified as impaired loan</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_LoansAndLeasesReceivableTroubledDebtRestructuringReclassification" xlink:to="ntrs_LoansAndLeasesReceivableTroubledDebtRestructuringReclassification_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_LoanServiceFees" xlink:label="ntrs_LoanServiceFees"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_LoanServiceFees_lbl" xml:lang="en-US">Represents fees associated with loan services, such as commercial loan-related commitment fees.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_LoanServiceFees_lbl" xml:lang="en-US">Loan Service Fees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_LoanServiceFees_lbl" xml:lang="en-US">Loan Service Fees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_LoanServiceFees" xlink:to="ntrs_LoanServiceFees_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.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">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">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/2011/elts/us-gaap-2011-01-31.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">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">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/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock" xlink:label="us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock_lbl" xml:lang="en-US">Loans Notes Trade And Other Receivables Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock_lbl" xml:lang="en-US">Loans and Leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock" xlink:to="us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_LoansReceivableCommercialConstructionAcquisitionAndDevelopment" xlink:label="ntrs_LoansReceivableCommercialConstructionAcquisitionAndDevelopment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_LoansReceivableCommercialConstructionAcquisitionAndDevelopment_lbl" xml:lang="en-US">Loans Receivable Commercial Construction Acquisition And Development</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_LoansReceivableCommercialConstructionAcquisitionAndDevelopment_lbl" xml:lang="en-US">Loans Receivable Commercial Construction Acquisition And Development</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_LoansReceivableCommercialConstructionAcquisitionAndDevelopment_lbl" xml:lang="en-US">Construction, Acquisition and Development Loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_LoansReceivableCommercialConstructionAcquisitionAndDevelopment" xlink:to="ntrs_LoansReceivableCommercialConstructionAcquisitionAndDevelopment_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.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">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">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/2011/elts/us-gaap-2011-01-31.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">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">Commercial Real Estate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LoansReceivableCommercialRealEstate_lbl" xml:lang="en-US">Total Commercial Real Estate Loans</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="ntrs-20111231.xsd#ntrs_LoansReceivableCommercialRealEstateCommercialMortgage" xlink:label="ntrs_LoansReceivableCommercialRealEstateCommercialMortgage"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_LoansReceivableCommercialRealEstateCommercialMortgage_lbl" xml:lang="en-US">Commercial real estate loans classified as commercial mortgages are provided for the acquisition or refinancing of income producing properties</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_LoansReceivableCommercialRealEstateCommercialMortgage_lbl" xml:lang="en-US">Loans Receivable Commercial Real Estate Commercial Mortgage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_LoansReceivableCommercialRealEstateCommercialMortgage_lbl" xml:lang="en-US">Average commercial mortgage financing loan amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ntrs_LoansReceivableCommercialRealEstateCommercialMortgage_lbl" xml:lang="en-US">Total Commercial Mortgages</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_LoansReceivableCommercialRealEstateCommercialMortgage" xlink:to="ntrs_LoansReceivableCommercialRealEstateCommercialMortgage_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_LoansReceivableCommercialRealEstateCommercialMortgageApartmentsAndMultiFamily" xlink:label="ntrs_LoansReceivableCommercialRealEstateCommercialMortgageApartmentsAndMultiFamily"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_LoansReceivableCommercialRealEstateCommercialMortgageApartmentsAndMultiFamily_lbl" xml:lang="en-US">Loans Receivable, Commercial Real Estate, Commercial Mortgage, Apartments And Multi Family</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_LoansReceivableCommercialRealEstateCommercialMortgageApartmentsAndMultiFamily_lbl" xml:lang="en-US">Loans Receivable Commercial Real Estate Commercial Mortgage Apartments And Multi Family</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_LoansReceivableCommercialRealEstateCommercialMortgageApartmentsAndMultiFamily_lbl" xml:lang="en-US">Apartment/ Multi-family</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_LoansReceivableCommercialRealEstateCommercialMortgageApartmentsAndMultiFamily" xlink:to="ntrs_LoansReceivableCommercialRealEstateCommercialMortgageApartmentsAndMultiFamily_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_LoansReceivableCommercialRealEstateCommercialMortgageIndustrialAndWarehouse" xlink:label="ntrs_LoansReceivableCommercialRealEstateCommercialMortgageIndustrialAndWarehouse"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_LoansReceivableCommercialRealEstateCommercialMortgageIndustrialAndWarehouse_lbl" xml:lang="en-US">Loans Receivable, Commercial Real Estate, Commercial Mortgage, Industrial And Warehouse</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_LoansReceivableCommercialRealEstateCommercialMortgageIndustrialAndWarehouse_lbl" xml:lang="en-US">Loans Receivable Commercial Real Estate Commercial Mortgage Industrial And Warehouse</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_LoansReceivableCommercialRealEstateCommercialMortgageIndustrialAndWarehouse_lbl" xml:lang="en-US">Industrial/ Warehouse</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_LoansReceivableCommercialRealEstateCommercialMortgageIndustrialAndWarehouse" xlink:to="ntrs_LoansReceivableCommercialRealEstateCommercialMortgageIndustrialAndWarehouse_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_LoansReceivableCommercialRealEstateCommercialMortgageOffice" xlink:label="ntrs_LoansReceivableCommercialRealEstateCommercialMortgageOffice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_LoansReceivableCommercialRealEstateCommercialMortgageOffice_lbl" xml:lang="en-US">Loans Receivable, Commercial Real Estate, Commercial Mortgage, Office</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_LoansReceivableCommercialRealEstateCommercialMortgageOffice_lbl" xml:lang="en-US">Loans Receivable Commercial Real Estate Commercial Mortgage Office</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_LoansReceivableCommercialRealEstateCommercialMortgageOffice_lbl" xml:lang="en-US">Office</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_LoansReceivableCommercialRealEstateCommercialMortgageOffice" xlink:to="ntrs_LoansReceivableCommercialRealEstateCommercialMortgageOffice_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_LoansReceivableCommercialRealEstateCommercialMortgageOther" xlink:label="ntrs_LoansReceivableCommercialRealEstateCommercialMortgageOther"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_LoansReceivableCommercialRealEstateCommercialMortgageOther_lbl" xml:lang="en-US">Loans Receivable, Commercial Real Estate, Commercial Mortgage, Other</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_LoansReceivableCommercialRealEstateCommercialMortgageOther_lbl" xml:lang="en-US">Loans Receivable Commercial Real Estate Commercial Mortgage Other</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_LoansReceivableCommercialRealEstateCommercialMortgageOther_lbl" xml:lang="en-US">Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_LoansReceivableCommercialRealEstateCommercialMortgageOther" xlink:to="ntrs_LoansReceivableCommercialRealEstateCommercialMortgageOther_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_LoansReceivableCommercialRealEstateCommercialMortgageRetail" xlink:label="ntrs_LoansReceivableCommercialRealEstateCommercialMortgageRetail"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_LoansReceivableCommercialRealEstateCommercialMortgageRetail_lbl" xml:lang="en-US">Loans Receivable, Commercial Real Estate, Commercial Mortgage, Retail</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_LoansReceivableCommercialRealEstateCommercialMortgageRetail_lbl" xml:lang="en-US">Loans Receivable Commercial Real Estate Commercial Mortgage Retail</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_LoansReceivableCommercialRealEstateCommercialMortgageRetail_lbl" xml:lang="en-US">Retail</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_LoansReceivableCommercialRealEstateCommercialMortgageRetail" xlink:to="ntrs_LoansReceivableCommercialRealEstateCommercialMortgageRetail_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_LoansReceivableCommercialRealEstateOther" xlink:label="ntrs_LoansReceivableCommercialRealEstateOther"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_LoansReceivableCommercialRealEstateOther_lbl" xml:lang="en-US">Loans Receivable Commercial Real Estate Other</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_LoansReceivableCommercialRealEstateOther_lbl" xml:lang="en-US">Loans Receivable Commercial Real Estate Other</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_LoansReceivableCommercialRealEstateOther_lbl" xml:lang="en-US">Other Commercial Real Estate Related</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_LoansReceivableCommercialRealEstateOther" xlink:to="ntrs_LoansReceivableCommercialRealEstateOther_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_LoansReceivableCommercialRealEstateSingleFamilyInvestment" xlink:label="ntrs_LoansReceivableCommercialRealEstateSingleFamilyInvestment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_LoansReceivableCommercialRealEstateSingleFamilyInvestment_lbl" xml:lang="en-US">Loans receivable - commercial real estate - single family investment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_LoansReceivableCommercialRealEstateSingleFamilyInvestment_lbl" xml:lang="en-US">Loans Receivable Commercial Real Estate Single Family Investment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_LoansReceivableCommercialRealEstateSingleFamilyInvestment_lbl" xml:lang="en-US">Single Family Investment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_LoansReceivableCommercialRealEstateSingleFamilyInvestment" xlink:to="ntrs_LoansReceivableCommercialRealEstateSingleFamilyInvestment_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.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">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">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-20111231.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">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">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">Held for Investment</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="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LoansReceivableNetAbstract" xlink:label="us-gaap_LoansReceivableNetAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LoansReceivableNetAbstract_lbl" xml:lang="en-US">Loans Receivable Net [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LoansReceivableNetAbstract_lbl" xml:lang="en-US">Loans (excluding Leases)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LoansReceivableNetAbstract" xlink:to="us-gaap_LoansReceivableNetAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.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">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">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">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="ntrs-20111231.xsd#ntrs_Long-TermDebtQualifyingAsRiskBasedCapital" xlink:label="ntrs_Long-TermDebtQualifyingAsRiskBasedCapital"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_Long-TermDebtQualifyingAsRiskBasedCapital_lbl" xml:lang="en-US">Long-Term Debt Qualifying as Risk Based Capital</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_Long-TermDebtQualifyingAsRiskBasedCapital_lbl" xml:lang="en-US">Long - Term Debt Qualifying As Risk Based Capital</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_Long-TermDebtQualifyingAsRiskBasedCapital_lbl" xml:lang="en-US">Long-Term Debt Qualifying as Risk-Based Capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_Long-TermDebtQualifyingAsRiskBasedCapital" xlink:to="ntrs_Long-TermDebtQualifyingAsRiskBasedCapital_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LongTermDebt" xlink:label="us-gaap_LongTermDebt"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebt_lbl" xml:lang="en-US">Long Term Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LongTermDebt_lbl" xml:lang="en-US">Total Long-Term Debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebt" xlink:to="us-gaap_LongTermDebt_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.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">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">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="ntrs-20111231.xsd#ntrs_LongTermDebtTableTextBlock" xlink:label="ntrs_LongTermDebtTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_LongTermDebtTableTextBlock_lbl" xml:lang="en-US">Long-term Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_LongTermDebtTableTextBlock_lbl" xml:lang="en-US">Long Term Debt Table [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_LongTermDebtTableTextBlock_lbl" xml:lang="en-US">Summary of Long Term Debt Outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_LongTermDebtTableTextBlock" xlink:to="ntrs_LongTermDebtTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LongtermDebtTypeAxis" xlink:label="us-gaap_LongtermDebtTypeAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongtermDebtTypeAxis_lbl" xml:lang="en-US">Longterm Debt Type [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LongtermDebtTypeAxis_lbl" xml:lang="en-US">Long-term Debt, Type [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongtermDebtTypeAxis" xlink:to="us-gaap_LongtermDebtTypeAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="us-gaap_LongtermDebtTypeDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongtermDebtTypeDomain_lbl" xml:lang="en-US">Longterm Debt Type [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LongtermDebtTypeDomain_lbl" xml:lang="en-US">Long-term Debt, Type [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongtermDebtTypeDomain" xlink:to="us-gaap_LongtermDebtTypeDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LossContingencyDisclosures" xlink:label="us-gaap_LossContingencyDisclosures"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LossContingencyDisclosures_lbl" xml:lang="en-US">Loss Contingency Disclosures</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LossContingencyDisclosures_lbl" xml:lang="en-US">Contingent Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingencyDisclosures" xlink:to="us-gaap_LossContingencyDisclosures_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LossContingencyRangeOfPossibleLossPortionNotAccrued" xlink:label="us-gaap_LossContingencyRangeOfPossibleLossPortionNotAccrued"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LossContingencyRangeOfPossibleLossPortionNotAccrued_lbl" xml:lang="en-US">Loss Contingency Range Of Possible Loss Portion Not Accrued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LossContingencyRangeOfPossibleLossPortionNotAccrued_lbl" xml:lang="en-US">Possible loss in future periods in excess of accrual</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingencyRangeOfPossibleLossPortionNotAccrued" xlink:to="us-gaap_LossContingencyRangeOfPossibleLossPortionNotAccrued_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LossOnDiscontinuationOfCashFlowHedgeDueToForecastedTransactionProbableOfNotOccurring" xlink:label="us-gaap_LossOnDiscontinuationOfCashFlowHedgeDueToForecastedTransactionProbableOfNotOccurring"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LossOnDiscontinuationOfCashFlowHedgeDueToForecastedTransactionProbableOfNotOccurring_lbl" xml:lang="en-US">Loss On Discontinuation Of Cash Flow Hedge Due To Forecasted Transaction Probable Of Not Occurring</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LossOnDiscontinuationOfCashFlowHedgeDueToForecastedTransactionProbableOfNotOccurring_lbl" xml:lang="en-US">Net foreign exchange contract losses reclassified from AOCI</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossOnDiscontinuationOfCashFlowHedgeDueToForecastedTransactionProbableOfNotOccurring" xlink:to="us-gaap_LossOnDiscontinuationOfCashFlowHedgeDueToForecastedTransactionProbableOfNotOccurring_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_LowerLimitOfGenerallyRequiredLoanToCollateralValueForResidentialRealEstateLoans" xlink:label="ntrs_LowerLimitOfGenerallyRequiredLoanToCollateralValueForResidentialRealEstateLoans"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_LowerLimitOfGenerallyRequiredLoanToCollateralValueForResidentialRealEstateLoans_lbl" xml:lang="en-US">Lower 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_LowerLimitOfGenerallyRequiredLoanToCollateralValueForResidentialRealEstateLoans_lbl" xml:lang="en-US">Lower 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_LowerLimitOfGenerallyRequiredLoanToCollateralValueForResidentialRealEstateLoans_lbl" xml:lang="en-US">Lower limit of generally required loan to collateral value for residential real estate loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_LowerLimitOfGenerallyRequiredLoanToCollateralValueForResidentialRealEstateLoans" xlink:to="ntrs_LowerLimitOfGenerallyRequiredLoanToCollateralValueForResidentialRealEstateLoans_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_MajorTypesOfDebtAndEquitySecuritiesDomain" xlink:label="us-gaap_MajorTypesOfDebtAndEquitySecuritiesDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MajorTypesOfDebtAndEquitySecuritiesDomain_lbl" xml:lang="en-US">Major Types Of Debt And Equity Securities [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MajorTypesOfDebtAndEquitySecuritiesDomain_lbl" xml:lang="en-US">Major Types of Debt and Equity Securities [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MajorTypesOfDebtAndEquitySecuritiesDomain" xlink:to="us-gaap_MajorTypesOfDebtAndEquitySecuritiesDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_MajorTypesOfDebtSecuritiesDomain" xlink:label="us-gaap_MajorTypesOfDebtSecuritiesDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MajorTypesOfDebtSecuritiesDomain_lbl" xml:lang="en-US">Major Types Of Debt Securities [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MajorTypesOfDebtSecuritiesDomain_lbl" xml:lang="en-US">Major Types of Debt Securities [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MajorTypesOfDebtSecuritiesDomain" xlink:to="us-gaap_MajorTypesOfDebtSecuritiesDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_MarketableSecurities" xlink:label="us-gaap_MarketableSecurities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MarketableSecurities_lbl" xml:lang="en-US">Marketable Securities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MarketableSecurities_lbl" xml:lang="en-US">Securities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_MarketableSecurities_lbl" xml:lang="en-US">Total Securities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MarketableSecurities" xlink:to="us-gaap_MarketableSecurities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_MarketableSecuritiesAbstract" xlink:label="us-gaap_MarketableSecuritiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MarketableSecuritiesAbstract_lbl" xml:lang="en-US">Marketable Securities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MarketableSecuritiesAbstract_lbl" xml:lang="en-US">Securities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_MarketableSecuritiesAbstract_lbl" xml:lang="en-US">Securities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MarketableSecuritiesAbstract" xlink:to="us-gaap_MarketableSecuritiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_MarketableSecuritiesPolicy" xlink:label="us-gaap_MarketableSecuritiesPolicy"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MarketableSecuritiesPolicy_lbl" xml:lang="en-US">Marketable Securities Policy</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MarketableSecuritiesPolicy_lbl" xml:lang="en-US">Marketable Securities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MarketableSecuritiesPolicy" xlink:to="us-gaap_MarketableSecuritiesPolicy_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_MarketingAndAdvertisingExpense" xlink:label="us-gaap_MarketingAndAdvertisingExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MarketingAndAdvertisingExpense_lbl" xml:lang="en-US">Marketing And Advertising Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MarketingAndAdvertisingExpense_lbl" xml:lang="en-US">Business Promotion</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MarketingAndAdvertisingExpense" xlink:to="us-gaap_MarketingAndAdvertisingExpense_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_MaturesAfterFiveYearsThroughTenYearsMember" xlink:label="ntrs_MaturesAfterFiveYearsThroughTenYearsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_MaturesAfterFiveYearsThroughTenYearsMember_lbl" xml:lang="en-US">Matures After Five Years Through Ten Years [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_MaturesAfterFiveYearsThroughTenYearsMember_lbl" xml:lang="en-US">Matures After Five Years Through Ten Years [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_MaturesAfterFiveYearsThroughTenYearsMember_lbl" xml:lang="en-US">Five to Ten Years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_MaturesAfterFiveYearsThroughTenYearsMember" xlink:to="ntrs_MaturesAfterFiveYearsThroughTenYearsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_MaximumLengthOfTimeHedgedInCashFlowHedge" xlink:label="us-gaap_MaximumLengthOfTimeHedgedInCashFlowHedge"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MaximumLengthOfTimeHedgedInCashFlowHedge_lbl" xml:lang="en-US">Maximum Length Of Time Hedged In Cash Flow Hedge</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MaximumLengthOfTimeHedgedInCashFlowHedge_lbl" xml:lang="en-US">Maximum length of time over which the exposure to variability in future cash flows of forecasted foreign currency denominated transactions is being hedged</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MaximumLengthOfTimeHedgedInCashFlowHedge" xlink:to="us-gaap_MaximumLengthOfTimeHedgedInCashFlowHedge_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_MaximumLengthOfTimeHedgedInForeignCurrencyCashFlowHedge" xlink:label="us-gaap_MaximumLengthOfTimeHedgedInForeignCurrencyCashFlowHedge"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MaximumLengthOfTimeHedgedInForeignCurrencyCashFlowHedge_lbl" xml:lang="en-US">Maximum Length Of Time Hedged In Foreign Currency Cash Flow Hedge</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MaximumLengthOfTimeHedgedInForeignCurrencyCashFlowHedge_lbl" xml:lang="en-US">Maximum length of time being hedged for exposure to variability in future cash flows of forecasted foreign currency denominated transactions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MaximumLengthOfTimeHedgedInForeignCurrencyCashFlowHedge" xlink:to="us-gaap_MaximumLengthOfTimeHedgedInForeignCurrencyCashFlowHedge_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_MaximumMember" xlink:label="us-gaap_MaximumMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MaximumMember_lbl" xml:lang="en-US">Maximum [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MaximumMember_lbl" xml:lang="en-US">Upper Limit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MaximumMember" xlink:to="us-gaap_MaximumMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_MedicalBenefitsMember" xlink:label="ntrs_MedicalBenefitsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_MedicalBenefitsMember_lbl" xml:lang="en-US">Medical Benefits [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_MedicalBenefitsMember_lbl" xml:lang="en-US">Medical Benefits [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_MedicalBenefitsMember_lbl" xml:lang="en-US">Medical Benefits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_MedicalBenefitsMember" xlink:to="ntrs_MedicalBenefitsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_MedicalCoverageRequiredAge" xlink:label="ntrs_MedicalCoverageRequiredAge"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_MedicalCoverageRequiredAge_lbl" xml:lang="en-US">Medical Coverage Required Age</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_MedicalCoverageRequiredAge_lbl" xml:lang="en-US">Medical Coverage Required Age</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_MedicalCoverageRequiredAge_lbl" xml:lang="en-US">Cost of benefit no longer subsidized by the company, age</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_MedicalCoverageRequiredAge" xlink:to="ntrs_MedicalCoverageRequiredAge_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_MedicarePartDSubsidyMember" xlink:label="ntrs_MedicarePartDSubsidyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_MedicarePartDSubsidyMember_lbl" xml:lang="en-US">Medicare Part D Subsidy [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_MedicarePartDSubsidyMember_lbl" xml:lang="en-US">Medicare Part D Subsidy [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_MedicarePartDSubsidyMember_lbl" xml:lang="en-US">Medicare Part D Subsidy</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_MedicarePartDSubsidyMember" xlink:to="ntrs_MedicarePartDSubsidyMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_MinimumAssetRequirementsForFederalReserveBoardReview" xlink:label="ntrs_MinimumAssetRequirementsForFederalReserveBoardReview"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_MinimumAssetRequirementsForFederalReserveBoardReview_lbl" xml:lang="en-US">Minimum Asset Requirements For Federal Reserve Board Review.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_MinimumAssetRequirementsForFederalReserveBoardReview_lbl" xml:lang="en-US">Minimum Asset Requirements For Federal Reserve Board Review</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_MinimumAssetRequirementsForFederalReserveBoardReview_lbl" xml:lang="en-US">Amount of total consolidated assets requirement to submit annual capital plans to the Federal Reserve Board for review according to Dodd-Frank Act</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_MinimumAssetRequirementsForFederalReserveBoardReview" xlink:to="ntrs_MinimumAssetRequirementsForFederalReserveBoardReview_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_MinimumMember" xlink:label="us-gaap_MinimumMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MinimumMember_lbl" xml:lang="en-US">Minimum [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MinimumMember_lbl" xml:lang="en-US">Lower Limit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinimumMember" xlink:to="us-gaap_MinimumMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_MoneyMarketFundsMember" xlink:label="us-gaap_MoneyMarketFundsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MoneyMarketFundsMember_lbl" xml:lang="en-US">Money Market Funds [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MoneyMarketFundsMember_lbl" xml:lang="en-US">Money Market Funds</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MoneyMarketFundsMember" xlink:to="us-gaap_MoneyMarketFundsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_MoreThanOneAndWithinThreeYearsFromBalanceSheetDateMember" xlink:label="ntrs_MoreThanOneAndWithinThreeYearsFromBalanceSheetDateMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_MoreThanOneAndWithinThreeYearsFromBalanceSheetDateMember_lbl" xml:lang="en-US">More than One and within Three Years from Balance Sheet Date [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_MoreThanOneAndWithinThreeYearsFromBalanceSheetDateMember_lbl" xml:lang="en-US">More Than One And Within Three Years From Balance Sheet Date [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_MoreThanOneAndWithinThreeYearsFromBalanceSheetDateMember_lbl" xml:lang="en-US">One to Three Years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_MoreThanOneAndWithinThreeYearsFromBalanceSheetDateMember" xlink:to="ntrs_MoreThanOneAndWithinThreeYearsFromBalanceSheetDateMember_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_MoreThanThreeAndWithinFiveYearsFromBalanceSheetDateMember" xlink:label="ntrs_MoreThanThreeAndWithinFiveYearsFromBalanceSheetDateMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_MoreThanThreeAndWithinFiveYearsFromBalanceSheetDateMember_lbl" xml:lang="en-US">More than Three and within Five Years from Balance Sheet Date [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_MoreThanThreeAndWithinFiveYearsFromBalanceSheetDateMember_lbl" xml:lang="en-US">More Than Three And Within Five Years From Balance Sheet Date [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_MoreThanThreeAndWithinFiveYearsFromBalanceSheetDateMember_lbl" xml:lang="en-US">Three to Five Years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_MoreThanThreeAndWithinFiveYearsFromBalanceSheetDateMember" xlink:to="ntrs_MoreThanThreeAndWithinFiveYearsFromBalanceSheetDateMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_MortgageLoansOnRealEstateLoanTypeAxis" xlink:label="us-gaap_MortgageLoansOnRealEstateLoanTypeAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MortgageLoansOnRealEstateLoanTypeAxis_lbl" xml:lang="en-US">Mortgage Loans On Real Estate Loan Type [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MortgageLoansOnRealEstateLoanTypeAxis_lbl" xml:lang="en-US">Mortgage Loans on Real Estate, Loan Type [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MortgageLoansOnRealEstateLoanTypeAxis" xlink:to="us-gaap_MortgageLoansOnRealEstateLoanTypeAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_MortgageLoansOnRealEstateLoanTypeDomain" xlink:label="us-gaap_MortgageLoansOnRealEstateLoanTypeDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MortgageLoansOnRealEstateLoanTypeDomain_lbl" xml:lang="en-US">Mortgage Loans On Real Estate Loan Type [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_MortgageLoansOnRealEstateLoanTypeDomain_lbl" xml:lang="en-US">Mortgage Loans on Real Estate, Loan Type [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MortgageLoansOnRealEstateLoanTypeDomain" xlink:to="us-gaap_MortgageLoansOnRealEstateLoanTypeDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_NatureOfOperationsPolicyTextBlock" xlink:label="ntrs_NatureOfOperationsPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_NatureOfOperationsPolicyTextBlock_lbl" xml:lang="en-US">Nature of Operations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_NatureOfOperationsPolicyTextBlock_lbl" xml:lang="en-US">Nature Of Operations Policy [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_NatureOfOperationsPolicyTextBlock_lbl" xml:lang="en-US">Nature of Operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_NatureOfOperationsPolicyTextBlock" xlink:to="ntrs_NatureOfOperationsPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_NetAssetsHeldByFunds" xlink:label="ntrs_NetAssetsHeldByFunds"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_NetAssetsHeldByFunds_lbl" xml:lang="en-US">Net Assets Held by Funds</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_NetAssetsHeldByFunds_lbl" xml:lang="en-US">Net Assets Held By Funds</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_NetAssetsHeldByFunds_lbl" xml:lang="en-US">Net assets held by the Funds</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_NetAssetsHeldByFunds" xlink:to="ntrs_NetAssetsHeldByFunds_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_NetAssetValuePerUnit" xlink:label="ntrs_NetAssetValuePerUnit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_NetAssetValuePerUnit_lbl" xml:lang="en-US">Net asset value per unit.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_NetAssetValuePerUnit_lbl" xml:lang="en-US">Net Asset Value Per Unit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_NetAssetValuePerUnit_lbl" xml:lang="en-US">Net asset values of the funds</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_NetAssetValuePerUnit" xlink:to="ntrs_NetAssetValuePerUnit_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xml:lang="en-US">Net Cash Provided By Used In Financing Activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xml:lang="en-US">Net Cash Provided by (Used in) Financing Activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US">Net Cash Provided By Used In Financing Activities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US">CASH FLOWS FROM FINANCING ACTIVITIES:</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US">FINANCING ACTIVITIES:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xml:lang="en-US">Net Cash Provided By Used In Investing Activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xml:lang="en-US">Net Cash Provided by (Used in) Investing Activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xml:lang="en-US">Net Cash Provided By Used In Investing Activities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xml:lang="en-US">CASH FLOWS FROM INVESTING ACTIVITIES:</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xml:lang="en-US">INVESTING ACTIVITIES:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US">Net Cash Provided By Used In Operating Activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US">Net Cash Provided by Operating Activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Net Cash Provided By Used In Operating Activities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">CASH FLOWS FROM OPERATING ACTIVITIES:</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">OPERATING ACTIVITIES:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.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">Net increase (decrease) in 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_NetChangeInClientSecuritySettlementReceivables_lbl" xml:lang="en-US">Net Change In Client Security Settlement Receivables</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="ntrs_NetChangeInClientSecuritySettlementReceivables_lbl" xml:lang="en-US">Net (Increase) Decrease in Client Security Settlement Receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_NetChangeInClientSecuritySettlementReceivables" xlink:to="ntrs_NetChangeInClientSecuritySettlementReceivables_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.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">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">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">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-20111231.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">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">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">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/2011/elts/us-gaap-2011-01-31.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">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">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">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/2011/elts/us-gaap-2011-01-31.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">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">Earnings Allocated to Common and Potential Common Shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:to="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.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">Net Interest Income [Line Items]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NettingAndCollateralMember_lbl" xml:lang="en-US">Netting and Collateral</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets_lbl" xml:lang="en-US">April 1 Cumulative Effect of Applying ASC 320-10 (Formerly, FSP FAS 115-2)</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfChangeOnNetIncome" xlink:label="us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfChangeOnNetIncome"/>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.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">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">Non Agency Residential Mortgage Backed Securities [Member]</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_NonbankSubsidiariesMember" xlink:label="ntrs_NonbankSubsidiariesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_NonbankSubsidiariesMember_lbl" xml:lang="en-US">Nonbank Subsidiaries [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_NonbankSubsidiariesMember_lbl" xml:lang="en-US">Nonbank Subsidiaries [Member]</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_NoncreditRelatedUnrealizedLossesOnSecuritiesOTTIMember" xlink:label="ntrs_NoncreditRelatedUnrealizedLossesOnSecuritiesOTTIMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_NoncreditRelatedUnrealizedLossesOnSecuritiesOTTIMember_lbl" xml:lang="en-US">Noncredit Related Unrealized Losses on Securities OTTI [Member]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NondesignatedMember" xlink:label="us-gaap_NondesignatedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NondesignatedMember_lbl" xml:lang="en-US">Nondesignated [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NondesignatedMember_lbl" xml:lang="en-US">Nondesignated</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_NonEmployeeDirectorsPlanMember" xlink:label="ntrs_NonEmployeeDirectorsPlanMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_NonEmployeeDirectorsPlanMember_lbl" xml:lang="en-US">Non Employee Directors, Plan [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_NonEmployeeDirectorsPlanMember_lbl" xml:lang="en-US">Non Employee Directors Plan [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_NonEmployeeDirectorsPlanMember_lbl" xml:lang="en-US">Non Employee Directors, Plan</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NoninterestBearingDepositLiabilitiesDomestic" xlink:label="us-gaap_NoninterestBearingDepositLiabilitiesDomestic"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NoninterestBearingDepositLiabilitiesDomestic_lbl" xml:lang="en-US">Noninterest Bearing Deposit Liabilities Domestic</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NoninterestBearingDepositLiabilitiesDomestic_lbl" xml:lang="en-US">Demand and Other Noninterest-Bearing</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NoninterestBearingDepositLiabilitiesForeign_lbl" xml:lang="en-US">Non-U.S. Offices Noninterest-Bearing</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoninterestBearingDepositLiabilitiesForeign" xlink:to="us-gaap_NoninterestBearingDepositLiabilitiesForeign_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NoninterestExpense" xlink:label="us-gaap_NoninterestExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NoninterestExpense_lbl" xml:lang="en-US">Noninterest Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NoninterestExpense_lbl" xml:lang="en-US">Total Noninterest Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoninterestExpense" xlink:to="us-gaap_NoninterestExpense_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NoninterestExpenseAbstract" xlink:label="us-gaap_NoninterestExpenseAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NoninterestExpenseAbstract_lbl" xml:lang="en-US">Noninterest Expense [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NoninterestExpenseAbstract_lbl" xml:lang="en-US">Noninterest Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoninterestExpenseAbstract" xlink:to="us-gaap_NoninterestExpenseAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_NoninterestExpenseExcludingVisaIndemnificationBenefit" xlink:label="ntrs_NoninterestExpenseExcludingVisaIndemnificationBenefit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_NoninterestExpenseExcludingVisaIndemnificationBenefit_lbl" xml:lang="en-US">Noninterest Expense Excluding Visa Indemnification Benefit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_NoninterestExpenseExcludingVisaIndemnificationBenefit_lbl" xml:lang="en-US">Noninterest Expense Excluding Visa Indemnification Benefit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_NoninterestExpenseExcludingVisaIndemnificationBenefit_lbl" xml:lang="en-US">Noninterest Expense (Excluding Visa Indemnification Benefits)</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_NoninterestExpenseOther_lbl" xml:lang="en-US">Noninterest Expense, Other</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_NoninterestExpenseOther_lbl" xml:lang="en-US">Noninterest Expense Other</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_NoninterestExpenseOther_lbl" xml:lang="en-US">Other Expenses</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_NoninterestExpenseOtherSupportAgreementCharges_lbl" xml:lang="en-US">Noninterest expense other, capital support agreement charges.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_NoninterestExpenseOtherSupportAgreementCharges_lbl" xml:lang="en-US">Noninterest Expense Other Support Agreement Charges</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="ntrs_NoninterestExpenseOtherSupportAgreementCharges_lbl" xml:lang="en-US">Capital Support Agreements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_NoninterestExpenseOtherSupportAgreementCharges" xlink:to="ntrs_NoninterestExpenseOtherSupportAgreementCharges_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NoninterestIncome" xlink:label="us-gaap_NoninterestIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NoninterestIncome_lbl" xml:lang="en-US">Noninterest Income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NoninterestIncome_lbl" xml:lang="en-US">Total Noninterest Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoninterestIncome" xlink:to="us-gaap_NoninterestIncome_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.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">Noninterest Income [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NoninterestIncomeAbstract_lbl" xml:lang="en-US">Noninterest Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoninterestIncomeAbstract" xlink:to="us-gaap_NoninterestIncomeAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NoninterestIncomeOther" xlink:label="us-gaap_NoninterestIncomeOther"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NoninterestIncomeOtherOperatingIncome" xlink:label="us-gaap_NoninterestIncomeOtherOperatingIncome"/>
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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">Other Operating Income</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_NonperformingAssets" xlink:label="ntrs_NonperformingAssets"/>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.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">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">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">Non-U.S.</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_NorthernTrustNAMember" xlink:label="ntrs_NorthernTrustNAMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_NorthernTrustNAMember_lbl" xml:lang="en-US">Northern Trust, NA [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_NorthernTrustNAMember_lbl" xml:lang="en-US">Northern Trust N A [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_NorthernTrustNAMember_lbl" xml:lang="en-US">Northern Trust, NA</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_Notes4.60PercentBankSubordinatedDebtDueFebruary2013Member" xlink:label="ntrs_Notes4.60PercentBankSubordinatedDebtDueFebruary2013Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_Notes4.60PercentBankSubordinatedDebtDueFebruary2013Member_lbl" xml:lang="en-US">Notes 4.60 Percent Bank Subordinated Debt Due February 2013 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_Notes4.60PercentBankSubordinatedDebtDueFebruary2013Member_lbl" xml:lang="en-US">Notes 4.60 Percent Bank Subordinated Debt Due February 2013 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_Notes4.60PercentBankSubordinatedDebtDueFebruary2013Member_lbl" xml:lang="en-US">Notes 4.60 Percent Bank Subordinated Debt Due February 2013</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_Notes5.85PercentBankSubordinatedDebtDueNovember2017Member" xlink:label="ntrs_Notes5.85PercentBankSubordinatedDebtDueNovember2017Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_Notes5.85PercentBankSubordinatedDebtDueNovember2017Member_lbl" xml:lang="en-US">Notes 5.85 Percent Bank Subordinated Debt Due November 2017 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_Notes5.85PercentBankSubordinatedDebtDueNovember2017Member_lbl" xml:lang="en-US">Notes 5.85 Percent Bank Subordinated Debt Due November 2017 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_Notes5.85PercentBankSubordinatedDebtDueNovember2017Member_lbl" xml:lang="en-US">Notes 5.85 Percent Bank Subordinated Debt Due November 2017</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_Notes5.85PercentBankSubordinatedDebtDueNovember2017Member" xlink:to="ntrs_Notes5.85PercentBankSubordinatedDebtDueNovember2017Member_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_Notes6.30PercentBankSubordinatedDebtDueMarch2011Member" xlink:label="ntrs_Notes6.30PercentBankSubordinatedDebtDueMarch2011Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_Notes6.30PercentBankSubordinatedDebtDueMarch2011Member_lbl" xml:lang="en-US">Notes 6.30 Percent Bank Subordinated Debt Due March 2011 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_Notes6.30PercentBankSubordinatedDebtDueMarch2011Member_lbl" xml:lang="en-US">Notes 6.30 Percent Bank Subordinated Debt Due March 2011 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_Notes6.30PercentBankSubordinatedDebtDueMarch2011Member_lbl" xml:lang="en-US">Notes 6.30 Percent Bank Subordinated Debt Due March 2011</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_Notes6.50PercentBankSubordinatedDebtDueAugust2018Member" xlink:label="ntrs_Notes6.50PercentBankSubordinatedDebtDueAugust2018Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_Notes6.50PercentBankSubordinatedDebtDueAugust2018Member_lbl" xml:lang="en-US">Notes 6.50 Percent Bank Subordinated Debt Due August 2018 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_Notes6.50PercentBankSubordinatedDebtDueAugust2018Member_lbl" xml:lang="en-US">Notes 6.50 Percent Bank Subordinated Debt Due August 2018 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_Notes6.50PercentBankSubordinatedDebtDueAugust2018Member_lbl" xml:lang="en-US">Notes 6.50 Percent Bank Subordinated Debt Due August 2018</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_Notes6.50PercentBankSubordinatedDebtDueAugust2018Member" xlink:to="ntrs_Notes6.50PercentBankSubordinatedDebtDueAugust2018Member_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_NotesToFinancialStatementsAbstract" xlink:label="ntrs_NotesToFinancialStatementsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_NotesToFinancialStatementsAbstract_lbl" xml:lang="en-US">Notes to Financial Statements [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_NotesToFinancialStatementsAbstract_lbl" xml:lang="en-US">Notes To Financial Statements [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_NotesToFinancialStatementsAbstract_lbl" xml:lang="en-US">Notes to Financial Statements [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_NotesToFinancialStatementsAbstract" xlink:to="ntrs_NotesToFinancialStatementsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NotionalAmountOfDerivatives" xlink:label="us-gaap_NotionalAmountOfDerivatives"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NotionalAmountOfDerivatives_lbl" xml:lang="en-US">Notional Amount Of Derivatives</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NotionalAmountOfDerivatives_lbl" xml:lang="en-US">NOTIONAL VALUE</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.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">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">Sterling denominated debt designated as hedges of foreign exchange risk</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NotionalAmountOfNonderivativeInstrumentsDesignatedAsNetInvestmentHedges" xlink:to="us-gaap_NotionalAmountOfNonderivativeInstrumentsDesignatedAsNetInvestmentHedges_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_NTCCapitalIISubordinatedDebenturesDueApril15th2027Member" xlink:label="ntrs_NTCCapitalIISubordinatedDebenturesDueApril15th2027Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_NTCCapitalIISubordinatedDebenturesDueApril15th2027Member_lbl" xml:lang="en-US">NTC Capital II Subordinated Debentures Due April 15th 2027 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_NTCCapitalIISubordinatedDebenturesDueApril15th2027Member_lbl" xml:lang="en-US">N T C Capital I I Subordinated Debentures Due April 15 th 2027 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_NTCCapitalIISubordinatedDebenturesDueApril15th2027Member_lbl" xml:lang="en-US">NTC Capital II Subordinated Debentures Due April 15th 2027</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_NTCCapitalIISubordinatedDebenturesDueApril15th2027Member" xlink:to="ntrs_NTCCapitalIISubordinatedDebenturesDueApril15th2027Member_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_NTCCapitalISubordinatedDebenturesDueJanuary15th2027Member" xlink:label="ntrs_NTCCapitalISubordinatedDebenturesDueJanuary15th2027Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_NTCCapitalISubordinatedDebenturesDueJanuary15th2027Member_lbl" xml:lang="en-US">NTC Capital I Subordinated Debentures Due January 15th 2027 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_NTCCapitalISubordinatedDebenturesDueJanuary15th2027Member_lbl" xml:lang="en-US">N T C Capital I Subordinated Debentures Due January 15 th 2027 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_NTCCapitalISubordinatedDebenturesDueJanuary15th2027Member_lbl" xml:lang="en-US">NTC Capital I Subordinated Debentures Due January 15th 2027</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_NTCCapitalISubordinatedDebenturesDueJanuary15th2027Member" xlink:to="ntrs_NTCCapitalISubordinatedDebenturesDueJanuary15th2027Member_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_NumberOfOperatingSegments" xlink:label="ntrs_NumberOfOperatingSegments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_NumberOfOperatingSegments_lbl" xml:lang="en-US">Number of Operating Segments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_NumberOfOperatingSegments_lbl" xml:lang="en-US">Number Of Operating Segments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_NumberOfOperatingSegments_lbl" xml:lang="en-US">Number of primary business units that generate majority of revenues</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_NumberOfSecuritiesContinuousUnrealizedLossPositionMoreThanTwelveMonths" xlink:label="ntrs_NumberOfSecuritiesContinuousUnrealizedLossPositionMoreThanTwelveMonths"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_NumberOfSecuritiesContinuousUnrealizedLossPositionMoreThanTwelveMonths_lbl" xml:lang="en-US">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">Number Of Securities Continuous Unrealized Loss Position More Than Twelve Months</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_NumberOfSecuritiesContinuousUnrealizedLossPositionMoreThanTwelveMonths_lbl" xml:lang="en-US">Number of securities in an unrealized loss position for more than 12 months</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_NumberOfSecuritiesContinuousUnrealizedLossPositionMoreThanTwelveMonths" xlink:to="ntrs_NumberOfSecuritiesContinuousUnrealizedLossPositionMoreThanTwelveMonths_lbl"/>
    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_NumberOfSecuritiesUnrealizedLossesPosition" xlink:label="ntrs_NumberOfSecuritiesUnrealizedLossesPosition"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_NumberOfSecuritiesUnrealizedLossesPosition_lbl" xml:lang="en-US">Number of Securities, Unrealized Losses Position</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_NumberOfSecuritiesUnrealizedLossesPosition_lbl" xml:lang="en-US">Number Of Securities Unrealized Losses Position</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_NumberOfSecuritiesUnrealizedLossesPosition_lbl" xml:lang="en-US">Number of securities in an unrealized loss position</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_NumberOfSecuritiesUnrealizedLossesPosition" xlink:to="ntrs_NumberOfSecuritiesUnrealizedLossesPosition_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NumberOfStatesInWhichEntityOperates" xlink:label="us-gaap_NumberOfStatesInWhichEntityOperates"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NumberOfStatesInWhichEntityOperates_lbl" xml:lang="en-US">Number Of States In Which Entity Operates</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NumberOfStatesInWhichEntityOperates_lbl" xml:lang="en-US">Services provided by business units, states</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NumberOfStatesInWhichEntityOperates" xlink:to="us-gaap_NumberOfStatesInWhichEntityOperates_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.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">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">Occupancy</label>
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    <loc xlink:type="locator" xlink:href="ntrs-20111231.xsd#ntrs_OmniumLLCMember" xlink:label="ntrs_OmniumLLCMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ntrs_OmniumLLCMember_lbl" xml:lang="en-US">Omnium LLC [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ntrs_OmniumLLCMember_lbl" xml:lang="en-US">Omnium L L C [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ntrs_OmniumLLCMember_lbl" xml:lang="en-US">Omnium LLC</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ntrs_OmniumLLCMember" xlink:to="ntrs_OmniumLLCMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OneYearFromBalanceSheetDateMember" xlink:label="us-gaap_OneYearFromBalanceSheetDateMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OneYearFromBalanceSheetDateMember_lbl" xml:lang="en-US">One Year From Balance Sheet Date [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OneYearFromBalanceSheetDateMember_lbl" xml:lang="en-US">One Year or Less</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OneYearFromBalanceSheetDateMember" xlink:to="us-gaap_OneYearFromBalanceSheetDateMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OperatingExpenses" xlink:label="us-gaap_OperatingExpenses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingExpenses_lbl" xml:lang="en-US">Operating Expenses</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negatedTotal" xlink:label="us-gaap_OperatingExpenses_lbl" xml:lang="en-US">Total Operating Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpenses" xlink:to="us-gaap_OperatingExpenses_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OperatingExpensesAbstract" xlink:label="us-gaap_OperatingExpensesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingExpensesAbstract_lbl" xml:lang="en-US">Operating Expenses [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingExpensesAbstract_lbl" xml:lang="en-US">OPERATING EXPENSES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpensesAbstract" xlink:to="us-gaap_OperatingExpensesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OperatingLeasedAssetsLineItems" xlink:label="us-gaap_OperatingLeasedAssetsLineItems"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_lbl" xml:lang="en-US">Operating Leases Future Minimum Payments Due In Three Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_lbl" xml:lang="en-US">2014</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_lbl" xml:lang="en-US">Operating Leases Future Minimum Payments Due In Two Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_lbl" xml:lang="en-US">2013</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_lbl" xml:lang="en-US">Operating Leases Future Minimum Payments Due Thereafter</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OperatingLeasesRentExpenseNet" xlink:label="us-gaap_OperatingLeasesRentExpenseNet"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.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">Other Assets [Abstract]</label>
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