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BOSTON - The Federal Home Loan Bank of Boston (the Bank) today announced that it has withdrawn its Form 10 registration statement, previously filed with the Securities and Exchange Commission (SEC). This decision was reached, in consultation with the Bank's independent auditors and as part of ongoing discussions with the SEC, as the Bank analyzes whether our accounting for certain transactions complies with all of the requirements of Statement of Financial Accounting Standard No. 133, Accounting for Derivative Instruments and Hedging Activities (SFAS 133).

After the review is completed, the Bank will finalize the process of registering its equity securities under the Securities Exchange Act of 1934 and release second quarter financial information. Michael A. Jessee, the Bank's president and CEO, added, "Even though the Bank will not complete the SEC registration process by August 29, it continues to work diligently and devote the resources necessary to become an SEC registrant as soon as practicable. In the meantime, members' access to advances and other Bank products and services will continue uninterrupted."

The Federal Home Loan Bank of Boston (www.fhlbboston.com) 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.

Some of the statements made in this press release describe anticipated developments, projections, estimates, or future predictions of the Bank. These statements may use forward-looking terminology, such as "anticipates," "believes," "could," "estimates," "may," "should," "will," or their negatives or variations on these terms. The Bank cautions that, by their nature, forward-looking statements are subject to a number of risks and uncertainties, and that actual results could differ materially from those expressed or implied in these forward-looking statements. As a result, readers are cautioned not to place undue reliance on such statements.