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</FONT><B><FONT SIZE=5><P ALIGN="CENTER">UNITED STATES<BR>


SECURITIES AND EXCHANGE COMMISSION</B></FONT><FONT SIZE=2><BR>


<B>Washington, DC 20549</P>


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<B><FONT SIZE=5><P ALIGN="CENTER">FORM 8-K</P>


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<B><FONT SIZE=2><P ALIGN="CENTER">CURRENT REPORT<BR>


Pursuant to Section 13 or 15(d) of <BR>


the Securities Exchange Act of 1934                                                           <BR>


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<P ALIGN="CENTER">Date of Report (Date of earliest event reported) November 15, 2006</P>


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<B><FONT SIZE=5><P ALIGN="CENTER">FEDERAL HOME LOAN BANK OF SEATTLE</B><BR>


</FONT><B><FONT SIZE=1>(Exact name of registrant as specified in its charter)</P>


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<B><FONT SIZE=2><P ALIGN="CENTER">Federally chartered corporation</B></FONT></TD>


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<B><FONT SIZE=2><P ALIGN="CENTER">000-51406</B></FONT></TD>


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<B><FONT SIZE=2><P ALIGN="CENTER">91-0852005</B></FONT></TD>


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<B><FONT SIZE=1><P ALIGN="CENTER">(State or other jurisdiction<BR>


of incorporation)</B></FONT></TD>


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<B><FONT SIZE=1><P ALIGN="CENTER">(Commission File Number)</B></FONT></TD>


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<B><FONT SIZE=1><P ALIGN="CENTER">(IRS Employer</B></FONT><FONT SIZE=2><BR>


</FONT><B><FONT SIZE=1>Identification No.)</B></FONT></TD>


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<B><FONT SIZE=2><P ALIGN="CENTER">1501 Fourth Avenue, Suite 1800</B><BR>


<B>Seattle, WA  98101-1693</B><BR>


</FONT><B><FONT SIZE=1>(Address of principal executive offices, including zip code)</P>


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<B><FONT SIZE=2><P ALIGN="CENTER">(800) 973.6223<BR>


</FONT><FONT SIZE=1>(Registrant's telephone number, including area code) </P>


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<B><FONT SIZE=2><P ALIGN="CENTER">Not Applicable<BR>


</FONT><FONT SIZE=1>(Former name or former address, if changed since last report) </P>


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<FONT SIZE=2><P>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): </P>





<P>[&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR>


</P>


<P>[&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR>


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<P>[&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR>


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<P>[&nbsp;&nbsp;]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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<P>Item 5.02.&nbsp;&nbsp;Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers</P>


</B><P>On November 15, 2006, James H. Strosahl resigned from the Board of Directors of the Federal Home Loan Bank of Seattle (&quot;Seattle Bank&quot;), effective December 31, 2006, due to his anticipated retirement from Glacier Bancorp, Inc., a Montana-based member of the Seattle Bank. Mr. Strosahl's three-year term on the Seattle Bank's Board of Directors was due to expire on December 31, 2008. The Seattle Bank's Board of Directors will solicit nominations from Montana, with the goal of filling the vacancy as of January 1, 2007. </P>





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<P ALIGN="CENTER">Signature(s)</P>


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<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>


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<B><FONT SIZE=3><P>Federal Home Loan Bank of Seattle</B></FONT></TD>


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<FONT SIZE=3><P>Date:&nbsp;&nbsp;November 21, 2006</FONT></TD>


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<FONT SIZE=3><P>By:&nbsp;&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Mark Szczepaniak&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD>


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<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Mark Szczepaniak</U><BR>


&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Vice President and Chief Financial Officer</FONT></TD>


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{"company-data": {"conformed-name": "Federal Home Loan Bank of Seattle", "cik": "0001329701", "assigned-sic": "6111", "irs-number": "910852005", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-51406", "film-number": "061233555"}, "business-address": {"street1": "1501 FOURTH AVNUE, SUITE 1900", "city": "SEATTLE", "state": "WA", "zip": "98101-1693", "phone": "800.973.6223"}, "mail-address": {"street1": "1501 FOURTH AVNUE, SUITE 1900", "city": "SEATTLE", "state": "WA", "zip": "98101-1693"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 15, 2006
FEDERAL HOME LOAN BANK OF SEATTLE
(Exact name of registrant as specified in its charter)
Federally chartered corporation
000-51406
91-0852005
(State or other jurisdiction
of incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
1501 Fourth Avenue, Suite 1800
Seattle, WA  98101-1693
(Address of principal executive offices, including zip code)
(800) 973.6223
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02.  Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers
On November 15, 2006, James H. Strosahl resigned from the Board of Directors of the Federal Home Loan Bank of Seattle ("Seattle Bank"), effective December 31, 2006, due to his anticipated retirement from Glacier Bancorp, Inc., a Montana-based member of the Seattle Bank. Mr. Strosahl's three-year term on the Seattle Bank's Board of Directors was due to expire on December 31, 2008. The Seattle Bank's Board of Directors will solicit nominations from Montana, with the goal of filling the vacancy as of January 1, 2007.
Signature(s)
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Federal Home Loan Bank of Seattle
Date:  November 21, 2006
By:
/s/ Mark Szczepaniak
Mark Szczepaniak
Senior Vice President and Chief Financial Officer