Shrugging off a year of relative inactivity, ABCP market participants are hopeful, if not optimistic, that the sector will begin growing again in 2004, now that many of the past year's concerns are being flushed through the market.

Roughly 200 ABCP professionals attended last week's 7th annual commercial paper conference hosted at the Marriot Marquis in New York by the Strategic Research Institute. Last year's rendition of this gathering was timed with the release of Financial Interpretation No. 46, and, accordingly, accounting and its impact on the market was the main thing going on.

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