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) May 18, 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 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On May 18, 2007, the board of directors of the Federal Home Loan Bank of Boston amended the 2007 Executive Incentive Plan (EIP), previously approved on February 16, 2007. The changes made to the EIP modify the levels of achievement for the Summit initiative within the operational component of the EIP. The weightings for the individual participants most responsible for completion of the Summit and Sarbanes-Oxley initiatives were also increased to emphasize the priority of these initiatives.

A copy of the 2007 EIP, as amended, is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The foregoing description is qualified in its entirety by reference to the amended EIP.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit Number

99.1 2007 Executive Incentive Plan.

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: May 23, 2007	By:	/s/ Earl W. Baucom

		Earl W. Baucom Senior Vice President and Chief Accounting Officer