Hudson City Bancorp Inc expects to slip into losses in the first quarter as it restructured its balance sheet, which involved clearing off $12.5 billion in debt. The company, which has been facing regulatory issues from a high exposure to shifting interest rates [ID:nN02218429], said the restructuring resulted in an after-tax charge of $644.3 million, or $1.30 a share. The bank did not apply for bailout under the U.S. Troubled Asset Relief Program, but its earnings have suffered from low interest rates and refinancing of mortgages by borrowers.
Source
