A processor configured to manage a transaction memory (TM) state. The processor is configured to receive a first instruction indicating a start of a speculative transaction and update a register file with a speculative transaction memory (TM) state corresponding to the speculative transaction. The processor is further configured to determine whether or not the register file is able to store the entirety of speculative TM state. If the register file is unable to store the entirety of the speculative TM state, the processor is configured to copy a previous TM (pre-TM) state from the register file to a memory which is external to the processor. Further, the processor may be configured to complete updating the register file with the speculative TM state after the pre-TM state has been copied from the register file to the memory.