What a year it was for BlackRock Inc., which consolidated six CDOs onto its balance sheet in September - with assets and liabilities increasing more than $2.5 billion - only to lift it all back off in January following the revision to Financial Interpretation No. 46.

The Financial Accounting Standards Board released the so-called FIN 46R on Dec. 24, 2003, almost 11 months to the day after the original Final Draft of FIN 46 was posted to the board's Web site.

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