Several CDO bank researchers are quite positive on the direction that the Financial Accounting Standards Board (FASB) seems to be heading on the issue of SPE consolidation.

According to Banc One Capital Markets' new CDO monthly, should the exposure draft indeed reflect developments at FASB's latest meetings, the third and fourth quarters of 2002 could see added "pent-up" CDO volume from entities who were concerned about future consolidation issues.

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