8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)  February 22, 2007

FEDERAL HOME LOAN BANK OF BOSTON

(Exact name of registrant as specified in its charter)

Federally chartered corporation	000-51402	04-6002575
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

111 Huntington Avenue

Boston, MA 02199

(Address of principal executive offices, including zip code)

(617) 292-9600

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02Results of Operations and Financial Condition

On February 22, 2007, the Federal Home Loan Bank of Boston (the Bank) issued a press release announcing its financial results for the year ended December 31, 2006, as well as its dividend rate for the first quarter of 2007. A copy of the press release is included as Exhibit 99.1 to this report. The information contained in Exhibit 99.1 is being furnished pursuant to Item 2.02 of this Current Report on Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 7.01Regulation FD Disclosure

On February 22, 2007, the Bank announced its financial results for the year ended December 31, 2006, as well as its dividend rate for the first quarter of 2007. A copy of the related press release is attached as Exhibit 99.1 to this Current Report on Form 8-K. The information being furnished pursuant to Item 7.01 of this Current Report on Form 8-K and the information contained in Exhibit 99.1 shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities under Section 18. As discussed therein, the press release contains forward-looking statements within the meaning of the Exchange Act and as such, may involve certain risks and uncertainties, and results will depend on actual events and developments.

Item 9.01Financial Statements and Exhibits

(c)Exhibits

Exhibit Number

99.1Press Release, dated February 22, 2007, issued by the Bank.

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Signature(s)

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Federal Home Loan Bank of Boston
Date:  February 22, 2007	By:	/s/ Ellen M. McLaughlin
		Ellen M. McLaughlin
		Senior Vice President, General Counsel and Corporate Secretary

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EX-99.1

Exhibit 99.1

	NEWS RELEASE
FOR IMMEDIATE RELEASE	CONTACT:  Mark S. Zelermyer
February 22, 2007	617-292-9750
	mark.zelermyer@fhlbboston.com

FEDERAL HOME LOAN BANK OF BOSTON ANNOUNCES
2006 OPERATING HIGHLIGHTS AND DECLARES DIVIDEND

BOSTON — The Federal Home Loan Bank of Boston (the Bank) announced the following:

2006 Balance-Sheet Highlights
Total assets were $57.5 billion at December 31, 2006, relatively unchanged from $57.7 billion at the close of 2005. Advances were down 1.9 percent to $37.3 billion, compared with $38.1 billion at yearend 2005, and represented 65.0 percent of total assets, compared with 66.0 percent at yearend 2005. While this decline was due primarily to net reductions in borrowings by several large members late in the year, average advances borrowings for the year as a whole increased $9.1 billion to $40.1 billion. Investments, including short-term placements and securities, increased 5.4 percent to $15.2 billion, compared with $14.5 billion at yearend 2005. Yearend member-mortgage assets declined 7.9 percent to $4.5 billion, compared with $4.9 billion at yearend 2005, reflecting a softening in the home-mortgage market that began late in 2005.

2006 Operating and Capital Results
Net income for 2006 increased 44.8 percent to $195.8 million, compared with $135.3 million for 2005. Capital at yearend 2006 was $2.5 billion, compared with $2.7 billion at yearend 2005, generally the result of buying back capital stock from members. Net interest income after provision for credit losses on mortgage loans increased $50.8 million, or 20.1 percent, to $303.9 million for the year ended December 31, 2006, from $253.1 million for the year ended December 31, 2005. The increase in net interest income was driven primarily by higher interest rates, higher average capital levels, and as described above, an increase in average advances balances. The Bank’s contribution to the Affordable Housing Program rose to $21.8 million in 2006 due to increased earnings, up from $15.2 million the previous year.

First Quarter 2007 Dividend
The Bank’s board of directors declared a dividend rate with an equivalent annual yield of 6.75 percent. The dividend, based on average stock outstanding for the fourth quarter, will be paid on March 2, 2007.

The Federal Home Loan Bank of Boston is a cooperatively owned wholesale bank for housing finance in the six New England states. Its mission is to support the residential-mortgage and community-development lending activities of its members, which include over 460 financial institutions across New England. To accomplish its mission, the Bank utilizes private-sector capital to provide members and other qualified customers with reliable access to low-cost wholesale funds, liquidity, a competitive outlet for the sale of loans, special lending programs, technical assistance, and other products and services.

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Federal Home Loan Bank of Boston    |    111 Huntington Avenue    |    Boston, MA 02199    |    617-292-9600    |    FAX: 617-292-9645

www.fhlbboston.com