FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2011

Schedule of Mortgage-Backed and Agency debentures characteristics [Text Block]

The Company’s Investment Securities characteristics are as follows:

	Weighted Average Coupon on Fixed Rate Investments			Weighted Average Coupon on Adjustable Rate Investments			Weighted Average Yield on Fixed Rate Investments			Weighted Average Yield on Adjustable Rate Investments			Weighted Average Lifetime Cap on Adjustable Investments			Weighted Average  Term to Next Adjustment on Adjustable Rate Investments
At June 30, 2011		4.74	%		4.12	%		3.83	%		3.22	%		10.08	%	42 months
At December 31, 2010		4.92	%		4.28	%		4.00	%		3.04	%		10.16	%	39 months

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The Company’s financial assets and liabilities carried at fair value on a recurring basis are valued as follows:

	Level 1		Level 2		Level 3
At June 30, 2011	(dollars in thousands)
Assets:
Mortgage-Backed Securities	$	-	$	96,773,448	$	-
Agency debentures		-		703,093		-
Available-for-sale-equity securities		261,659		-		-
U.S. Treasury Securities		748,118		-		-
Securities borrowed		-		519,929		-
Other derivative contracts		-		767		-
Liabilities:
Interest rate swaps		-		1,035,215		-
U.S. Treasury securities sold, not yet purchased		491,740		-		-
Securities loaned		-		447,330		-

	Level 1		Level 2		Level 3
At December 31, 2010	(dollars in thousands)
Assets:
Mortgage-Backed Securities	$	-	$	78,440,330	$	-
Agency debentures		-		1,108,261		-
Available-for-sale equity securities		184,879		-		-
U.S. Treasury securities		1,100,447		-		-
Securities borrowed		-		216,676		-
Interest rate swaps		-		2,561		-
Other derivative contracts		2,607		-		-
Liabilities:
Interest rate swaps		-		754,439		-
U.S. Treasury securities sold, not yet purchased		909,462		-		-
Securities loaned		-		217,841		-
Other derivative contracts		-		2,446		-