8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSIONWashington, 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) October 27, 2008

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 EmployerIdentification 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 7.01 Regulation FD Disclosure

On October 27, 2008, the Federal Home Loan Bank of Boston sent a letter to members regarding director elections. A copy of the letter is attached to this report as Exhibit 99.1. The information contained in the attachment is being furnished 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 9.01 Financial Statements and Exhibits

 (d) Exhibits

Exhibit No.	Description
99.1	Letter, dated October 27, 2008, sent to members of the Federal Home Loan Bank of Boston.

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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: October 27, 2008	By:	/s/ Frank Nitkiewicz
		Frank Nitkiewicz
		Executive Vice President and Chief Financial Officer

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EX-99.1

Exhibit 99.1

DIRECTOR ELECTIONS

October 27, 2008

TO:      All Members

The Housing and Economic Recovery Act of 2008 mandates a number of governance changes at the Federal Home Loan Bank of Boston (the Bank). These changes will alter both the composition of the board of directors and the manner in which the Bank’s elections are conducted.

Beginning in 2009, the Bank will have a 17-member board. Under the formula adopted by our new regulator, Rhode Island will gain one elected director seat and Massachusetts will lose one elected seat. The seats for elected directors are determined state-by-state on the basis of the amount of required capital stock held by members in each state. In addition, the Bank will have one less independent director seat. The number of independent director seats is set as a percentage of the elected director seats. The composition of the board will be as follows:

Industry Directors:		10
MA	3
RI	2
CT	2
ME	1
NH	1
VT	1
Independent Directors:		7
District-wide	7
Total:		17

The Massachusetts seat being eliminated is currently held by long-time director and current chair Robert F. Verdonck. I hope you’ll join me in thanking Bob for his exceptional service to the Bank and our members.

The new law also changes the manner in which independent directors become members of the board. The Bank’s shareholders will now elect independent directors that have been nominated by the Bank’s board of directors. It is important to note that independent directors will now be elected by the membership at-large, not state-by-state as is the case with elected directors. To be elected, each independent director will require a minimum 20 percent of the overall membership’s vote. Your participation in this new election process will be critical to its success.

You will receive ballots for the election of industry and independent directors in the next several weeks. I strongly encourage you to participate in the director election process to help ensure the Bank continues its history of strong board governance.

Sincerely,

Michael A. Jessee

President and Chief Executive Officer