Federal Home Loan Bank of Boston

CIK:0001331463|SEC Filings

Statements of Operations (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
INTEREST INCOME
Advances	$ 421,973	$ 508,614	$ 795,920	$ 1,024,078
Interest-bearing deposits	23,775	26,531	46,198	53,615
Securities purchased under agreements to resell	39,041	34,320	80,202	57,999
Federal funds sold	45,190	61,540	80,870	122,058
Investment securities:
Trading securities	5	19	33	38
Available-for-sale securities	166,241	201,163	331,044	394,895
Held-to-maturity securities	564	759	1,154	1,602
Total investment securities	166,810	201,941	332,231	396,535
Mortgage loans held for portfolio	49,913	41,358	98,728	80,810
Total interest income	746,702	874,304	1,434,149	1,735,095
Consolidated obligations:
Bonds	414,817	601,501	806,114	1,175,715
Discount notes	232,970	168,648	437,882	355,810
Total consolidated obligations	647,787	770,149	1,243,996	1,531,525
Deposits	5,336	6,035	10,724	12,532
Mandatorily redeemable capital stock	134	78	234	164
Other borrowings	4	7	8	50
Total interest expense	653,261	776,269	1,254,962	1,544,271
NET INTEREST INCOME	93,441	98,035	179,187	190,824
Provision for credit losses	100	208	100	208
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES	93,341	97,827	179,087	190,616
OTHER INCOME (LOSS)
Service fees	3,259	3,249	6,501	6,353
Other, net	(981)	(1,026)	(3,985)	(228)
Total other income	2,278	2,223	2,516	6,125
OTHER EXPENSE
Compensation and benefits	13,635	12,752	27,937	26,060
Other operating expenses	8,412	8,975	16,010	16,145
AHP voluntary contribution	1,934	2,238	5,896	6,672
Discretionary housing and community investment programs	17,405	20,142	23,974	24,959
Federal Housing Finance Agency (the FHFA)	1,322	1,556	2,644	3,112
Office of Finance	1,455	1,140	2,715	2,373
Other	1,230	1,063	2,947	1,903
Total other expense	45,393	47,866	82,123	81,224
INCOME BEFORE ASSESSMENTS	50,226	52,184	99,480	115,517
AHP assessments	5,036	5,226	9,971	11,568
NET INCOME	$ 45,190	$ 46,958	$ 89,509	$ 103,949

Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
OPERATING ACTIVITIES
Net Income	$ 89,509	$ 103,949
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization/(accretion)	8,994	(41,974)
Provision for credit losses	100	208
Net change in derivatives and hedging activities	87,747	(355,211)
Other adjustments, net	6,677	9,048
Net change in:
Market value of trading securities	(18)	35
Accrued interest receivable	(7,204)	2,398
Other assets	(970)	(5,930)
Accrued interest payable	10,421	58,272
Other liabilities	9,766	7,828
Total adjustments	115,513	(325,326)
Net cash provided by (used in) operating activities	205,022	(221,377)
INVESTING ACTIVITIES
Interest-bearing deposits	(481,686)	277,164
Securities purchased under agreements to resell	1,000,000	(2,400,000)
Federal funds sold	(1,681,000)	(1,610,000)
Advances to members	(6,271,574)	(1,913,987)
Trading securities:
Proceeds	1,419	0
Available-for-sale securities:
Proceeds	844,141	819,342
Purchases	(1,736,505)	(977,269)
Held-to-maturity securities:
Proceeds	4,838	6,231
Mortgage loans held for portfolio:
Proceeds	275,844	161,618
Purchases	(522,682)	(426,810)
Other investing activities, net	(1,278)	(823)
Net cash used in investing activities	(8,568,483)	(6,064,534)
FINANCING ACTIVITIES
Net change in deposits	(38,416)	(59,299)
Net receipts (payments) on derivatives with a financing element	5,101	(6,198)
Net proceeds from issuance of consolidated obligations:
Discount notes	46,170,366	35,080,300
Bonds	28,077,720	32,073,542
Bonds transferred from other FHLBanks	749,988	0
Payments for maturing and retiring consolidated obligations:
Discount notes	(43,648,080)	(34,198,902)
Bonds	(23,145,535)	(26,605,670)
Payment of financing lease	(21)	(20)
Proceeds from issuance of capital stock	1,666,907	1,335,274
Payments for repurchase of capital stock	(1,394,058)	(1,238,447)
Payments for redemption of mandatorily redeemable capital stock	(1,050)	(905)
Cash dividends paid	(65,455)	(81,949)
Net cash provided by financing activities	8,377,467	6,297,726
Net increase in cash and due from banks	14,006	11,815
Cash and due from banks at beginning of the period	1,184	5,149
Cash and due from banks at end of the period	15,190	16,964
Supplemental disclosures:
Interest paid	1,214,179	1,526,550
Noncash transfers of mortgage loans held for portfolio to other assets	$ 216	$ 347

Off-Balance Sheet Commitments (Details) - USD ($)
$ in Thousands

6 Months Ended

Jun. 30, 2026

Dec. 31, 2025

Other FHLBanks [Member]

Loss Contingencies [Line Items]

Par value of other FHLBanks' outstanding COs for which we are jointly and severally liable

$ 1,300,000,000

$ 1,100,000,000

Standby letters of credit outstanding [Member]

Loss Contingencies [Line Items]

Off-balance-sheet Commitments Expiring Within One Year

^[1],[2]

8,650,853

Off-balance-sheet Commitments Expiring After One Year

^[1],[2]

139,780

Total Off-balance Sheet Commitments

^[1],[2]

8,790,633

8,640,107

Commitments for unused lines of credit - advances [Member]

Loss Contingencies [Line Items]

Off-balance-sheet Commitments Expiring Within One Year

^[2],[3]

1,051,646

Off-balance-sheet Commitments Expiring After One Year

^[2],[3]

Total Off-balance Sheet Commitments

^[2],[3]

$ 1,051,646

1,053,753

Commitments for unused lines of credit - advances [Member] | Maximum [Member]

Loss Contingencies [Line Items]

Period for commitments for unused line-of-credit advances

12 months

Commitments to make additional advances [Member]

Loss Contingencies [Line Items]

Off-balance-sheet Commitments Expiring Within One Year

^[2]

$ 294,292

Off-balance-sheet Commitments Expiring After One Year

^[2]

41,408

Total Off-balance Sheet Commitments

^[2]

335,700

365,976

Unsettled CO bonds, at par [Member]

Loss Contingencies [Line Items]

Off-balance-sheet Commitments Expiring Within One Year

^[2]

138,000

Off-balance-sheet Commitments Expiring After One Year

^[2]

Total Off-balance Sheet Commitments

^[2]

138,000

535,000

Unsettled CO discount notes, at par [Member]

Loss Contingencies [Line Items]

Off-balance-sheet Commitments Expiring Within One Year

^[2]

100,000

Off-balance-sheet Commitments Expiring After One Year

^[2]

Total Off-balance Sheet Commitments

^[2]

100,000

672,841

Standby Letters of Credit Issuance Commitments [Member]

Loss Contingencies [Line Items]

Off-balance-sheet Commitments Expiring Within One Year

105,700

82,800

Mortgage Receivable [Member] | Commitments to invest in mortgage loans [Member]

Loss Contingencies [Line Items]

Off-balance-sheet Commitments Expiring Within One Year

^[2]

94,310

Off-balance-sheet Commitments Expiring After One Year

^[2]

Total Off-balance Sheet Commitments

^[2]

$ 94,310

$ 59,316

[1]	Because standby letters of credit cannot be drawn upon until their effective date, the amount of standby letters of credit outstanding excludes standby letters of credit that take effect after June 30, 2026. At June 30, 2026, and December 31, 2025, standby letters of credit expiring within one year but that have not yet become effective totaled $105.7 million and $82.8 million, respectively.
[2]	We have determined it is unnecessary to record any liability for credit losses on these agreements based on our credit extension and collateral policies.
[3]	Commitments for unused line-of-credit advances are generally for periods of up to 12 months. Since many of these commitments are not expected to be drawn upon, the total commitment amount does not necessarily indicate future liquidity requirements.