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Fannie Mae and Freddie Mac's mortgage portfolios should be restricted and their regulator strengthened, according to US treasury secretary John Snow and Alan Greenspan, chairman of the US Federal Reserve Board.

Managers of collateralised loan obligations have been talking for over a year about expanding their stables of investment products to include structures that are less restrictive and can attract new investors to leveraged loans. Over the past few months these plans have come to fruition with the emergence of lightly leveraged funds, which deploy either private bank debt or publicly rated securities. Taron Wade explores the new breed of loan fund. At the beginning of March, Alcentra and Pimco priced lightly levered collateralised loan obligations (CLOs), pioneering a new asset class for the leveraged loan market.

Anticipation of a revival in M&A activity has been a dominant theme in the European market in the past three years. But the reality is more brutal: the sector continues to be dominated by cheap refinancings and a dearth of new money. Although conditions could not be better for companies to expand, Charlie Corbett finds that trade buyers have learnt the lessons of the late 1990s and are taking a more cautious attitude towards acquisitions. One syndicated loan sector, Two continents. In the US, this year it is boom time for acquisition related deals. Already 33 transactions worth $17.4bn have been signed. By comparison with the same period in 2004, just $6.1bn through 28 transactions had been completed.

The confrontation between ABN Amro and Italy's Banca Popolare di Lodi over control of Banca Antonveneta intensified this week when Consob, the Italian securities markets regulator, began investigating share ownership patterns in Antonveneta.

The confrontation between ABN Amro and Italy's Banca Popolare di Lodi over control of Banca Antonveneta intensified this week when Consob, the Italian securities markets regulator, began investigating share ownership patterns in Antonveneta.

Pernod Ricard will be tapping the loan market for a "substantial amount," to fund its potential acquisition of UK based drinks company Allied Domecq, well placed bankers have told EuroWeek.

Rating: Aa3/AA-

Werner Seifert, chief executive of Frankfurt stock exchange operator Deutsche Börse, yesterday (Thursday) hit back publicly at the hedge fund TCI, the exchange's largest shareholder, for its criticisms of his handling of the bid for the London Stock Exchange and his overall running of the company.

Werner Seifert, chief executive of Frankfurt stock exchange operator Deutsche Börse, yesterday (Thursday) hit back publicly at the hedge fund TCI, the exchange's largest shareholder, for its criticisms of his handling of the bid for the London Stock Exchange and his overall running of the company.

Bankers in London reported solid growth in ECP outstandings and new deal volume over the first quarter of the year but said that the pace of issuance had not been smooth.

Furniture maker DFS has secured a £340m loan. Lloyds TSB provided £190m of the facility through a deal signed on March 24. A limited general syndication will take place later this year. Bank of Ireland and Royal Bank of Scotland provided the remaining £150m, EuroWeek hears.