CDS spreads move out on financial institutions

Barclays, which has opted to raise £7.3 billion through Middle Eastern investors rather than invite a government capital injection, saw its five year credit default swaps (CDSs) rise to 115.3 basis points at 0920 GMT this morning from 109.6bp last night, according to credit information specialist CMA DataVision.

The cost of credit protection on HSBC also increased, climbing to 79.3bp from 75bp. CDSs on Royal Bank of Scotland - which recently announced third quarter credit writedowns of £206

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