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million in the firsgt quarter because of troubled investments whose valuews are expected to be reduced by several hundredxmillion dollars. The results are preliminart as the FHLB of Boston works to put a value on its portfolioof mortgage-backedr securities. The value of those investment s has been marked down in recenf weeks and could be subject to another reductiohin value, FHLB of Boston said in a regulatory The bank said it anticipates a credi t loss of about $127 million and a fair value loss of aboutf $768 million on mortgage-backed securities. And the bank said it’as possible it will have additional losses within the mortgagde portfolio when resultsare finalized.
The bank’s advancex to other lenders in the region are expectedf todecline 13.2 percent to $49.4 billion in the first quarter. The net loss in the firs t quarter compares with net incomeof $56.2 millioj in the year-earlier period.
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