NEW YORK - Not surprisingly, accounting uncertainty was the de facto theme of last week's Third Annual Forum on ABCP Liquidity & SIVs, hosted by the Strategic Research Institute. Roughly 150 ABCP market participants gathered to mingle, express concerns and suggest solutions to issues facing the market.

Conference chairperson Maureen Coen, who heads the ABCP origination group at Credit Suisse First Boston, noted that the market has tackled a new set of challenges each year: from Y2K, to bank consolidation, to disappearing liquidity. Current challenges include credit concerns, capital rules, depressed supply, and the uncertainties associated with the Financial Accounting Standards Board (FASB) project on consolidation.

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