Credit markets

CDSs referencing US banks widen

The cost of credit protection on US banks continued to rise yesterday, following Treasury secretary Timothy Geithner announcing a plan to relieve US banks of toxic assets on March 23. Some analysts believe Geithner's plan still lacks detail, particularly…

CDSs on financials continue to tighten

The cost of credit protection on both US and European financials continued to fall today, in the wake of US Treasury secretary Timothy Geithner announcing a toxic-asset purchase plan aimed at boosting the US financial system yesterday.

CDS spreads tighten on European banks

The cost of credit protection fell today on European financials in response to yesterday's commitment by the Federal Open Markets Committee to buy up to $300 billion in long-term US Treasury securities.

FSA plans new capital formula for banks

The UK Financial Services Authority (FSA)'s chairman Adair Turner has outlined proposed new capital rules for UK banks, which would see minimum capital levels determined based on balance sheet growth or full-cycle loan book risk.

Steady morning for bank CDSs

After a significant improvement in market sentiment yesterday, the cost of credit protection remained steady this morning on US financials, while falling on south-east Asian corporates.

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