CDS spreads widen on UK banks

Five-year senior credit default swap (CDS) spreads referencing RBS- reported to be cutting around 3,000 jobs over the next few weeks- widened to 130 basis points at 5:00pm London time, up from 129.6bp at the close of trading yesterday, according to credit information specialist CMA DataVision. The cost of protection on HBOS, still set to be taken over by Lloyds TSB, increased to 121bp from 110.1bp, while Lloyds saw its spreads widen to 85bp from 79.2bp.

Barclays, which added €1.1 billion to its

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