Sponsor banks who maintain asset-backed commercial paper Web sites as subsidiary or linked sites to their main homepage may unknowingly be at risk of losing the benefits associated with running a separate ABCP conduit, according to panelists at Strategic Research Institute's ABS on the Web conference, held in New York last week.

Through these site linkages, it is easy to tell that a sponsor bank is involved with a certain conduit, which may prove to be a problem with the implementation of FAS 140 provisions on consolidation with respect to qualified special purpose entities (QSPEs).

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