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USD ($)

USD ($) / shares
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    &lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
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    &lt;div align="center" style="font-size: 10pt; margin-top: 0pt"&gt;&lt;i&gt;&lt;/i&gt;
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    &lt;div align="left" style="font-size: 10pt; margin-top: 12pt"&gt;&lt;b&gt;1. Organization&lt;/b&gt;
    &lt;/div&gt;
    &lt;div align="left" style="font-size: 10pt; margin-top: 6pt"&gt;Hudson City Bancorp, Inc. (&amp;#8220;Hudson City Bancorp&amp;#8221; or the &amp;#8220;Company&amp;#8221;) is a Delaware corporation
    and is the savings and loan holding company for Hudson City Savings Bank and its subsidiaries
    (&amp;#8220;Hudson City Savings&amp;#8221; or the &amp;#8220;Bank&amp;#8221;). Each of Hudson City Savings and the Company is currently
    subject to the regulation and examination of the Office of Thrift Supervision (&amp;#8220;OTS&amp;#8221;).
    &lt;/div&gt;
    &lt;div align="left" style="font-size: 10pt; margin-top: 6pt"&gt;On July&amp;#160;21, 2010, President Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection
    Act (the &amp;#8216;Reform Act&amp;#8221;). The Reform Act, among other things, effectively merges the OTS into the
    Office of the Comptroller of the Currency (&amp;#8220;OCC&amp;#8221;), with the OCC assuming all functions and
    authority from the OTS relating to federally chartered savings banks, and the Federal Reserve Board
    (the &amp;#8220;FRB&amp;#8221;) assuming all functions and authority from the OTS relating to savings and loan holding
    companies. Pursuant to the Reform Act, the OTS will be merged into the OCC as early as July&amp;#160;2011
    at which time Hudson City Savings will be regulated by the OCC and the Company will be regulated by
    the FRB.
    &lt;/div&gt;
    &lt;/div&gt;
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 -Publisher AICPA
 -Name Statement of Position (SOP)
 -Number 94-6
 -Paragraph 10

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