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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) October 23, 2007</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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<FONT SIZE=1><P>&nbsp;</FONT></TD>
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<B><FONT SIZE=2><P ALIGN="CENTER">000-51406</B></FONT></TD>
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<FONT SIZE=1><P>&nbsp;</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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<FONT SIZE=1><P>&nbsp;</FONT></TD>
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<B><FONT SIZE=1><P ALIGN="CENTER">(Commission File Number)</B></FONT></TD>
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<FONT SIZE=1><P>&nbsp;</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>
</B></FONT><P ALIGN="CENTER"></P>
<B><FONT SIZE=2><P ALIGN="CENTER">(800) 973.6223<BR>
</FONT><FONT SIZE=1>(Registrant's telephone number, including area code) </P>
</B></FONT><P ALIGN="CENTER"></P>
<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>
</B></FONT><P ALIGN="CENTER"></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>
</P>
<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>
</P>
<P>[&nbsp;&nbsp;]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>
</P>
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<B><FONT SIZE=3>
</B></FONT><FONT SIZE=2><P>&nbsp;</P>
</FONT><B><FONT SIZE=3><P>Item 5.02.  Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers</P>
</B><P><A NAME="_DV_M12"></A>On May 10, 2007, the Federal Home Loan Bank of Seattle (the "Seattle Bank") reported on Form 8-K the elimination of the position of general counsel from management and disclosed its intent to enter into a separation and release arrangement with Sheryl A. Symonds, then Senior Vice President, General Counsel and Corporate Secretary of the Seattle Bank.  </P>
<P><A NAME="_DV_M13"></A>On October 23, 2007, the Seattle Bank entered into a separation and release arrangement (the "Separation Agreement") with Ms. Symonds.  The following description of the Separation Agreement does not purport to be complete and is qualified in its entirety by reference to the Separation Agreement, which is filed as Exhibit 10.1 to this report and incorporated by reference herein.  The Separation Agreement provides that Ms. Symonds is eligible for a lump sum separation payment of $160,000<A NAME="_DV_M14"></A>, retention of vested retirement benefits accrued pursuant to the terms of<A NAME="_DV_M15"></A> plans<A NAME="_DV_C14"></FONT><FONT SIZE=3 COLOR="#0000ff"> </FONT><FONT SIZE=3>in which Ms. Symonds participated<A NAME="_DV_M16"></A></A>; and <A NAME="_DV_C15">a</FONT><FONT SIZE=3 COLOR="#0000ff"> <A NAME="_DV_M17"></A></A></FONT><FONT SIZE=3>$10,000 payment for related legal counsel fees as specified in the <A NAME="_DV_C17">Separation Agreement<A NAME="_DV_M18"></A></A>.</P>
<P><A NAME="_DV_M19"></A>In consideration of the foregoing, Ms. Symonds has agreed to return to the Seattle Bank property under her control relating to the Seattle Bank, to a general release of claims against the Seattle Bank, to cooperate in the future with the Seattle Bank in any claims or other proceedings that relate to matters in which Ms. Symonds was substantially involved during the term of her employment, and to not reveal confidential information of the Seattle Bank.  In consideration of the mutual obligations in the Separation Agreement, the Seattle Bank has agreed to a general release of claims against Ms. Symonds in connection with her prior employment with the Seattle Bank.</P>
<B><P><A NAME="_DV_M20"></A>Item 9.01  Financial Statements and Exhibits</P>
<P><A NAME="_DV_M21"></A>(d)&#9;Exhibits</P>
<P><A NAME="_DV_M22"></A>Exhibit No.</B> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Description</P><DIR>
<DIR>
</B><P><A NAME="_DV_M23"></A>10.1&nbsp;&nbsp;&nbsp;&nbsp;Separation and Release</FONT><FONT SIZE=2> </FONT><FONT SIZE=3>Agreement between the Federal Home Loan Bank of Seattle and Sheryl A Symonds.</P>
</FONT><FONT SIZE=2></DIR>
</DIR>
</FONT><B><P>&#9;Signature(s)&#9;</P>
</B><FONT SIZE=3>
<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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<FONT SIZE=3><P>Date:&nbsp;&nbsp;October 25, 2007</FONT></TD>
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<FONT SIZE=3><P>By:&nbsp;<U> /s/ Richard M. Riccobono&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;Richard M. Riccobono<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;President and Chief Executive Officer</FONT></TD>
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<B><P ALIGN="CENTER">Exhibit Index<A NAME="_DV_M27"></A><BR>
</P>
<P>Exhibit No.</B></FONT><FONT SIZE=3> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><FONT SIZE=2>Description</P>
<DIR>
<DIR>
</B><P><A NAME="_DV_M28"></A>10.1</FONT><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE=2>Separation and Release Agreement between the Federal Home Loan Bank of Seattle and Sheryl A. Symonds.</P></DIR>
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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) October 23, 2007
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 Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On May 10, 2007, the Federal Home Loan Bank of Seattle (the "Seattle Bank") reported on Form 8-K the elimination of the position of general counsel from management and disclosed its intent to enter into a separation and release arrangement with Sheryl A. Symonds, then Senior Vice President, General Counsel and Corporate Secretary of the Seattle Bank.
On October 23, 2007, the Seattle Bank entered into a separation and release arrangement (the "Separation Agreement") with Ms. Symonds.  The following description of the Separation Agreement does not purport to be complete and is qualified in its entirety by reference to the Separation Agreement, which is filed as Exhibit 10.1 to this report and incorporated by reference herein.  The Separation Agreement provides that Ms. Symonds is eligible for a lump sum separation payment of $160,000
, retention of vested retirement benefits accrued pursuant to the terms of
plans
in which Ms. Symonds participated
; and
a
$10,000 payment for related legal counsel fees as specified in the
Separation Agreement
.
In consideration of the foregoing, Ms. Symonds has agreed to return to the Seattle Bank property under her control relating to the Seattle Bank, to a general release of claims against the Seattle Bank, to cooperate in the future with the Seattle Bank in any claims or other proceedings that relate to matters in which Ms. Symonds was substantially involved during the term of her employment, and to not reveal confidential information of the Seattle Bank.  In consideration of the mutual obligations in the Separation Agreement, the Seattle Bank has agreed to a general release of claims against Ms. Symonds in connection with her prior employment with the Seattle Bank.
Item 9.01  Financial Statements and Exhibits
(d)	Exhibits
Exhibit No.
Description
10.1    Separation and Release
Agreement between the Federal Home Loan Bank of Seattle and Sheryl A Symonds.
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.
Date:  October 25, 2007
By:
/s/ Richard M. Riccobono
Richard M. Riccobono
President and Chief Executive Officer
Exhibit Index
Exhibit No.
Description
10.1
Separation and Release Agreement between the Federal Home Loan Bank of Seattle and Sheryl A. Symonds.