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BOSTON — The board of directors of the Federal Home Loan Bank of Boston declared a second quarter dividend rate with an equivalent annual yield of 6.75 percent. The dividend, based on average stock outstanding for the first quarter, will be paid on June 4, 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.

For more information, see the Bank's backgrounder.