NEW YORK - Asset-backed professionals are hoping that the federal bank regulators will grant relief against consolidated securitized assets for purposes of computing capital adequacy.

Should that happen, the regulators would arguably be diverging from the newly updated generally accepted accounting principles (GAAP), via Financial Interpretation No. 46. As reported last week by ASR, Standard & Poor's does not anticipate changing its core ratings on banks as a result of conduit consolidation, reflecting the view that consolidation on its own does not alter the risk profile.

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