Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2011

Fair Value Measurements (Tables) [Abstract]

Carrying value of assets measured at fair value on a recurring basis

			Fair Value at June 30, 2011 using
			Quoted Prices in Active		Significant Other		Significant
	Carrying		Markets for Identical		Observable Inputs		Unobservable Inputs
Description	Value		Assets (Level 1)		(Level 2)		(Level 3)
					(In thousands)
Available for sale debt securities:
Mortgage-backed securities	$	10,484,264	$	—	$	10,484,264	$	—
Total available for sale debt securities		10,484,264	$	—		10,484,264	$	—
Available for sale equity securities:
Financial services industry	$	7,221	$	7,221	$	—	$	—
Total available for sale equity securities		7,221		7,221		—		—
Total available for sale securities	$	10,491,485	$	7,221	$	10,484,264	$	—

			Fair Value at December 31, 2010 using
			Quoted Prices in Active		Significant Other		Significant
	Carrying		Markets for Identical		Observable Inputs		Unobservable Inputs
Description	Value		Assets (Level 1)		(Level 2)		(Level 3)
					(In thousands)
Available for sale debt securities:
Mortgage-backed securities	$	18,120,537	$	—	$	18,120,537	$	—
U.S. government-sponsored enterprises debt		82,647		—		82,647		—
Total available for sale debt securities		18,203,184		—		18,203,184		—
Available for sale equity securities:
Financial services industry	$	7,148	$	7,148	$	—	$	—
Total available for sale equity securities		7,148		7,148		—		—
Total available for sale securities	$	18,210,332	$	7,148	$	18,203,184	$	—

Level of valuation assumptions to determine carrying value of assets measured at fair value on non recurring basis

	Fair Value Measurements at June 30, 2011 using
	Quoted Prices in Active		Significant Other		Significant		Total
	Markets for Identical		Observable Inputs		Unobservable Inputs		Gains
Description	Assets (Level 1)		(Level 2)		(Level 3)		(Losses)
			(In thousands)
Impaired loans	$	—	$	—	$	49,463	$	(875	)
Foreclosed real estate		—		—		38,364		(2,829	)

	Fair Value Measurements at December 31, 2010 using
	Quoted Prices in Active		Significant Other		Significant		Total
	Markets for Identical		Observable Inputs		Unobservable Inputs		Gains
Description	Assets (Level 1)		(Level 2)		(Level 3)		(Losses)
			(In thousands)
Impaired loans	$	—	$	—	$	16,721	$	—
Foreclosed real estate		—		—		45,693		(2,739	)

Reconciliation of assets measure at fair value on a non-recurring basis

	Fair Value Measurements Using
	Significant Unobservable Inputs (Level 3)
	(In thousands)
	Foreclosed			Impaired
	Real Estate			Loans
Beginning balance at December 31, 2010	$	45,693		$	16,721
Gain (loss) on sale of foreclosed properties		(2,829	)		(875	)
Net transfers in (out)		(4,500	)		33,617
Ending balance at June 30, 2011	$	38,364		$	49,463

Estimated fair value of Hudson City's financial instruments

	June 30, 2011				December 31, 2010
	Carrying		Estimated		Carrying		Estimated
	Amount		Fair Value		Amount		Fair Value
			(In thousands)
Assets:
Cash and due from banks	$	146,701	$	146,701	$	175,769	$	175,769
Federal funds sold		566,950		566,950		493,628		493,628
Investment securities held to maturity		3,638,950		3,601,261		3,939,006		3,867,488
Investment securities available for sale		7,221		7,221		89,795		89,795
Federal Home Loan Bank of New York stock		767,064		767,064		871,940		871,940
Mortgage-backed securities held to maturity		4,896,216		5,175,111		5,914,372		6,199,507
Mortgage-backed securities available for sale		10,484,264		10,484,264		18,120,537		18,120,537
Loans		30,203,196		32,376,816		30,773,956		32,328,933
Liabilities:
Deposits		25,554,601		25,856,280		25,173,126		25,584,478
Borrowed funds		21,125,000		23,510,566		29,675,000		32,975,633