The Federal Home Loan Bank of Boston is reporting a huge impairment charge on its investments in private-label MBS and a net loss of $115.8 million for 2008, but the bank expects recent changes to accounting rules will mitigate the impact on its retained earnings.

"The net loss eliminated retained earnings, resulting in an accumulated deficit of $19.7 million," the Boston FHLBank president Michael Jessee said.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.