The Federal Home Loan Bank of Seattle filed its Form 10 Registration Statement with the Securities and Exchange Commission on March 31. Earlier in the month, it announced year-end 2005 net income of $1.7 million, down precipitously from 2004’s $82.7 million. The Bank’s board of directors also recently approved a reduction in the amount of stock that members are required to hold to maintain their membership and new borrowing activity with the Bank. …