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) November 6, 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):

oWritten 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)

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

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

Item 2.02 Results of Operations and Financial Condition

On November 6, 2008, the Federal Home Loan Bank of Boston (the Bank) issued a press release announcing its financial results for the quarter ended September 30, 2008. 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 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit No.	Description
99.1	Press Release, dated November 6, 2008, issued by the Bank.

2

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: November 6, 2008	By:	/s/Frank Nitkiewicz
		Frank Nitkiewicz Executive Vice President and Chief Financial Officer

3

EX-99.1

Exhibit 99.1

NEWS RELEASE

FOR IMMEDIATE RELEASE	CONTACT: Mark S. Zelermyer
November 6, 2008	617-292-9750
	mark.zelermyer@fhlbboston.com

FEDERAL HOME LOAN BANK OF BOSTON ANNOUNCES

THIRD QUARTER 2008 RESULTS

BOSTON — The Federal Home Loan Bank of Boston (the Bank) announced the following unaudited results for the quarter ended September 30, 2008:

Third Quarter 2008 Balance-Sheet Highlights

Total assets rose 8.5 percent to $84.8 billion at September 30, 2008, up from $78.2 billion at yearend 2007. Advances increased 14.6 percent to $63.8 billion, compared with $55.7 billion at yearend 2007, and represented 75.2 percent of total assets. Investments and short-term money-market instruments decreased to $16.5 billion at September 30, 2008, compared with $17.9 billion at yearend 2007. Mortgage assets remained essentially unchanged from yearend 2007 at $4.1 billion. Capital rose 12.0 percent to $3.8 billion at September 30, 2008, compared with $3.4 billion at yearend 2007.

Third Quarter 2008 Operating Results

Net income for the third quarter was $49.7 million, compared with $50.2 million for the same period in 2007. The $495,000 decrease is primarily due to an $8.3 million increase in net losses on derivatives and hedging activities and a $1.3 million increase in operating expenses, offset by an increase of $9.7 million in net interest income after provision for credit losses. The Bank’s net interest spread for the third quarter of 2008 was 0.27 percent, a four-basis-point increase from the net interest spread for the same period in 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 450 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.

###

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

www.fhlbboston.com