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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman"><strong>SECURITIES
      AND EXCHANGE COMMISSION</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">WASHINGTON,
      D.C. 20549</font></div>
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      8-K</strong></font><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>CURRENT
      REPORT PURSUANT TO SECTION 13 OR 15(d) OF</strong></font></div>
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      SECURITIES EXCHANGE ACT OF 1934</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date
      of
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                  File Number)</font></div>
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                  No.)</font>&#160;</font></div>
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              <td align="left" valign="top" width="4%">&#160;</td>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Eleven
                  Madison Avenue, New York, New York</font></div>
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              <td align="left" valign="top" width="48%" style="border-bottom: black thin solid;">
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                  of principal executive office)</font></div>
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              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="48%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Zip
                  Code)</font></div>
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                325-2000</font></div>
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                telephone number, including area code)</font></div>
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            <td colspan="2" valign="top" width="87%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Former
                name or former address, if changed since last report)</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Check
                the appropriate box below if the Form 8-K filing is intended to
                simultaneously satisfy the filing obligation of the registrant under
                any
                of the following provisions (</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>see</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
                General Instruction A.2. below):</font></div>
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              <td align="left" style="width: 27pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">q</font></td>
              <td align="left">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Written
                  communications pursuant to Rule 425 under the Securities Act (17
                  CFR
                  230.425)</font></div>
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              <td align="left" style="width: 27pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">q</font></td>
              <td align="left">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Soliciting
                  material pursuant to Rule 14a-12 under Exchange Act (17 CFR
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              <td align="left" style="width: 27pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">q</font></td>
              <td align="left">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
                  communication pursuant to Rule 14d-2(b) under the Exchange Act
                  (17 CFR
                  240.14d-2(b))</font></div>
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              <td align="left" style="width: 27pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">q</font></td>
              <td align="left">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
                  communications pursuant to Rule 13e-4(c) under the Exchange Act
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      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt">&#160;</div>
      <div>
        <hr style="MARGIN-TOP: -5px; COLOR: #000000" noshade size="1">
        <hr style="MARGIN-TOP: -13px; COLOR: #000000" noshade size="4">
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          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>Item
      8.01. Other Events</u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Today
      Credit Suisse Group, the ultimate parent of Credit Suisse (USA), Inc. (the
      "Company"), reported that, in December 2005, the&#160;Securities&#160;and
      Exchange Commission ("SEC") staff provided further guidance under Statement
      of
      Financial Accounting Standards No. 123 (revised 2004), </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>Share-Based
      Payment, </em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">relating
      to share-based compensation awards subject to a non-competition provision that
      have scheduled vesting beyond an employee&#8217;s eligibility for early retirement.
      Credit Suisse Group also reported that, as a result of this guidance and
      subsequent discussions with the SEC staff through February 10, 2006, it will
      now
      record an incremental expense in the fourth quarter of 2005 to reflect the
      recognition of expenses over the shorter period from the award grant date until
      the employee becomes eligible for early retirement with respect to the awards
      granted in 2005. This non-cash charge represents an acceleration of compensation
      expenses that would otherwise have been reflected in future years and does
      not
      impact cash flows. Credit Suisse Group had previously concluded that the most
      appropriate service period to be used for the expensing of these awards was
      the
      vesting period, which ranges from three to five years. The impact of this change
      in accounting treatment was to increase Credit Suisse Group&#8217;s fourth-quarter and
      full-year 2005 banking compensation and benefits by CHF 630 million and to
      decrease its fourth-quarter and full-year 2005 net income by CHF 421 million.
      </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A
      significant portion of this increase in banking compensation and benefits
      expense for Credit Suisse Group related to share-based awards for employees
      of
      the Company and therefore will have the effect of significantly increasing
      the
      Company's expenses and decreasing the Company's net income for the year ended
      December 31, 2005.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>SIGNATURE</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
      to the requirements of the Securities Exchange Act of 1934, the Registrant
      has
      duly caused this Report to be signed on its behalf by the undersigned hereunto
      duly authorized.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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      <table align="center" bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" width="100%">

          <tr valign="top" bgcolor="#ffffff">
            <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
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          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Credit
              Suisse (USA), Inc.</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td>&#160;</td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">/s/&#160;David
              C. Fisher</font></td>
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            <td colspan="2"><font size="1">&#160;</font></td>
            <td align="left">
              <hr style="COLOR: black" align="left" noshade size="2" width="80%"><font size="2">David
              C. Fisher</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>Chief
              Financial and Accounting Officer</em></font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td colspan="2">&#160;</td>
            <td>&#160;</td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td colspan="2">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">February
                13, 2006</font></div>
            </td>
            <td>&#160;</td>
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SECURITIES
      AND EXCHANGE COMMISSION
WASHINGTON,
      D.C. 20549
FORM
      8-K
CURRENT
      REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE
      SECURITIES EXCHANGE ACT OF 1934
Date
      of
      Report (Date of earliest event reported)
February
      13, 2006
Credit
                Suisse (USA), Inc.
(Exact
                name of registrant as specified in its charter)
Delaware
(State
                or other jurisdiction of incorporation or
                organization)
1-6862
13-1898818
(Commission
                  File Number)
(I.R.S.
                  Employer
Identification
                  No.)
Eleven
                  Madison Avenue, New York, New York
10010
(Address
                  of principal executive office)
(Zip
                  Code)
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Item
      8.01. Other Events
Today
      Credit Suisse Group, the ultimate parent of Credit Suisse (USA), Inc. (the
      "Company"), reported that, in December 2005, the Securities and
      Exchange Commission ("SEC") staff provided further guidance under Statement
      of
      Financial Accounting Standards No. 123 (revised 2004),
Share-Based
      Payment,
relating
      to share-based compensation awards subject to a non-competition provision that
      have scheduled vesting beyond an employee's eligibility for early retirement.
      Credit Suisse Group also reported that, as a result of this guidance and
      subsequent discussions with the SEC staff through February 10, 2006, it will
      now
      record an incremental expense in the fourth quarter of 2005 to reflect the
      recognition of expenses over the shorter period from the award grant date until
      the employee becomes eligible for early retirement with respect to the awards
      granted in 2005. This non-cash charge represents an acceleration of compensation
      expenses that would otherwise have been reflected in future years and does
      not
      impact cash flows. Credit Suisse Group had previously concluded that the most
      appropriate service period to be used for the expensing of these awards was
      the
      vesting period, which ranges from three to five years. The impact of this change
      in accounting treatment was to increase Credit Suisse Group's fourth-quarter and
      full-year 2005 banking compensation and benefits by CHF 630 million and to
      decrease its fourth-quarter and full-year 2005 net income by CHF 421 million.
A
      significant portion of this increase in banking compensation and benefits
      expense for Credit Suisse Group related to share-based awards for employees
      of
      the Company and therefore will have the effect of significantly increasing
      the
      Company's expenses and decreasing the Company's net income for the year ended
      December 31, 2005.
SIGNATURE
Pursuant
      to the requirements of the Securities Exchange Act of 1934, the Registrant
      has
      duly caused this Report to be signed on its behalf by the undersigned hereunto
      duly authorized.
Credit
              Suisse (USA), Inc.
By:
/s/ David
              C. Fisher
David
              C. Fisher
Chief
              Financial and Accounting Officer
February
                13, 2006