EXHIBIT 15.1





                     INDEPENDENT ACCOUNTANTS' REVIEW REPORT




The Board of Directors
Credit Suisse First Boston (USA), Inc.


We have reviewed the accompanying condensed combined statement of financial
condition of DLJdirect (a combination of certain assets and liabilities as
described in note 1) as of September 30, 2000, and the related condensed
combined statements of operations, changes in allocated equity and cash flows
for the three and nine-month periods ended September 30, 2000. These
condensed combined financial statements are the responsibility of Credit
Suisse First Boston (USA), Inc.'s management.

We conducted our review in accordance with standards established by the American
Institute of Certified Public Accountants. A review of interim financial
information consists principally of applying analytical procedures to financial
data and making inquiries of persons responsible for financial and accounting
matters. It is substantially less in scope than an audit conducted in accordance
with generally accepted auditing standards, the objective of which is the
expression of an opinion regarding the financial statements taken as a whole.
Accordingly, we do not express such an opinion.

We have also reviewed the condensed consolidated statement of financial
condition of Credit Suisse First Boston (USA), Inc. and subsidiaries as of
September 30, 2000, and the related condensed consolidated statements of
income, changes in stockholders' equity and cash flows for the three and
nine-month periods ended September 30, 2000, and have issued our report dated
November 14, 2000. The condensed combined financial statements of DLJdirect
should be read in conjunction with the condensed consolidated financial
statements of Credit Suisse First Boston (USA), Inc. and subsidiaries.

Based on our review, we are not aware of any material modifications that should
be made to the condensed combined financial statements referred to above for
them to be in conformity with generally accepted accounting principles.


/s/ KPMG LLP


New York, New York
November 14, 2000