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BOSTON — The Federal Home Loan Bank of Boston (the
Bank) is pleased to announce the appointment of Michael Edwards,
group executive vice president and treasurer of Citizens
Bank of Rhode Island and Citizens Financial Group, Inc.,
to the Bank’s board of directors. Mr. Edwards’ term
will commence on January 1, 2007, and expire on December
31, 2009. Mr. Edwards notified the Bank of his acceptance
of the appointment on October 18, 2006.
The Bank’s regulator, the Federal Housing Finance
Board (Finance Board), redesignated a Connecticut directorship
to Rhode Island effective January 1, 2007. Under section
951.7 of Finance Board regulations, the Finance Board may
eliminate any stock directorship or redesignate it to represent
members in another state. As part of its annual designation,
the Finance Board redesignated one of the two existing Connecticut
seats, creating a second Rhode Island seat in response to
an increase in proportionate shareholdings of the Bank’s
Rhode Island members. A redesignated directorship must be
filled through an appointment by the Bank’s board of
directors. The appointment of Mr. Edwards fills the second
Rhode Island directorship.
Mr. Edwards is a member of Providence Public Library’s
investment committee and corporation; Brown Sports Foundation;
Brown Hockey Association; the Kennebunkport Conservation
Trust; and the Board of Trustees of Northwood School, Lake
Placid, New York.
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.
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