CDSs on Irish banks widen further

The cost of credit protection on Irish banks rose steeply this morning as the European Commission warned Ireland's budgetary deficit could widen to 9.5% of GDP by the end of 2009.

As of 12.45 GMT, five-year senior credit default swap (CDS) spreads on Bank of Ireland had widened from 420.3 basis points to 504.5bp, and Allied Irish Bank CDSs had gone from 384.5bp to 439.2bp, according to data from credit information specialist CMA Datavision.

Banks with exposure to Eastern European subsidiaries - which may receive ratings downgrades due to deteriorating economic prospects in the region - also continued to see their spreads widen today. CDSs referencing German banking giant

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options


Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here