Major players in the ex-Japan Asia securitization business are sending mixed messages. Last month saw the departure of Greg Park from Credit Suisse First Boston; with the bank making no move to replace its head of Asian ABS. Park last week resurfaced at Calyon, the investment banking arm of Credit Agricole, who is attempting to rebuild its franchise.

But while it seems that CSFB, one the region's most successful houses, is cutting back, others are decidedly pressing forward.

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