1 Exhibit 21 List of Subsidiaries of Bank of Boston Corporation There is no parent company of Bank of Boston Corporation (the "Corporation"). The First National Bank of Boston (the "FNBB"), all of whose voting securities (except for directors' qualifying shares) are owned by the Corporation, is the principal subsidiary of the Corporation. Other major banking subsidiaries of the Corporation are Bank of Vermont, Casco Northern Bank, N.A., Bank of Boston Connecticut, Rhode Island Hospital Trust National Bank, South Shore Bank, Mechanics Bank and Multbank West. A number of entities which are owned wholly or in part, either directly or indirectly, by the Corporation are not listed below. However, their assets if considered in the aggregate as a single subsidiary would not constitute a significant subsidiary of the Corporation. JURISDICTION NAME OF SUBSIDIARY(1) OF INCORPORATION The First National Bank of Boston(2) US BancBoston Financial Company MA Bank of Boston International US Edge Act Corp. Boston Overseas Financial Corp. US Edge Act Corp. Boston World Holding Corporation MA Bank of Boston Canada Canada Boston Factors of Canada, Inc. Canada BancBoston Leasing, Inc. MA Boston Leasing Corporation MA Randolph Computer Corporation DEL BancBoston Leasing Services, Inc. MA BancBoston Mortgage Corporation FLA BancBoston Ventures Inc. MA BancBoston Capital Inc.(3) MA BancBoston Trust Company of New York NY BancBoston Investments Inc. MA BancBoston Real Estate Capital Corp.(2) MA BankVermont Corporation VT Bank of Vermont(2) VT Boston Overseas Holding Corporation MA Casco Northern Corporation MA Casco Northern Bank, N.A(2) US Colonial Bancorp, Inc. MA Bank of Boston Connecticut(2)(4) CT BancBoston Capital Inc.(3) MA Fidelity Acceptance Corporation MN Master Plans Corp. MA <FN> (1) Except as noted, each such business organization is either wholly-owned by the Corporation or wholly-owned by a one hundred percent owned subsidiary of the Corporation. (2) FNBB and certain other subsidiaries own a number of subsidiaries which hold real property acquired in connection with certain loan workout situations. If considered in the aggregate as a single subsidiary, they would not constitute a significant subsidiary. (3) BancBoston Capital, Inc. is owned 24.9% by the Corporation and 75.1% by Bank of Boston Connecticut. (4) Bank of Boston Connecticut is owned 57% by Society for Savings Bancorp, Inc. and 43% by Colonial Bancorp, Inc. 2 JURISDICTION NAME OF SUBSIDIARY(1) OF INCORPORATION FSC Corp MA FNBC Acceptance Corporation AL First Louisiana Acceptance Corporation LA Multibank Financial Corp. MA Multibank West(2) MA Mechanics Bank(2) MA South Shore Bank(2) MA Multibank Leasing Corporation MA Multibank Services Corporation(5) MA RIHT Financial Corporation MA Rhode Island Hospital Trust National Bank(2) US Bank of Boston Florida, N.A. US RIHT Life Insurance Co. AZ Society for Savings Bancorp, Inc. MA Bank of Boston Connecticut(4) CT <FN> (1) Except as noted, each such business organization is either wholly-owned by the Corporation or wholly-owned by a one hundred percent owned subsidiary of the Corporation. (2) FNBB and certain other subsidiaries own a number of subsidiaries which hold real property acquired in connection with certain loan workout situations. If considered in the aggregate as a single subsidiary, they would not constitute a significant subsidiary. (3) BancBoston Capital, Inc. is owned 24.9% by the Corporation and 75.1% by Bank of Boston Connecticut. (4) Bank of Boston Connecticut is owned 57% by Society for Savings Bancorp, Inc. and 43% by Colonial Bancorp, Inc. (5) Multibank Services Corporation is owned 44% by South Shore Bank, 30% by Mechanics Bank and 26% by Multibank West.