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Icelandic CDS levels keep falling | IceNews


Credit default swap (CDS) levels on Icelandic banks have fallen considerably following credit agreements between Iceland and the central banks of Sweden, Norway and Denmark.
On Friday the Central Bank of Iceland announced a bilateral swap facility with its Nordic counterparts, borrowing up to 1.5 billion Euros ($2.3 billion) to help strengthen the country‘s reserves of foreign currency.
The CDS level for Glitnir has fallen from 410 basis points to 365bp yesterday, whilst Landsbanki has fallen 75bp to 185bp. Kaupthing now stands at 430bp, having fallen 30bp since the agreement was announced.
Furthermore, the CDS on the Icelandic krona (ISK) has fallen by 30bp, making it easier for the Central Bank to boost its reserves of foreign currency by means of additional credit deals. ....

Geir Haarde , Glitnir Bank , Central Bank , Eurpean Central Bank , Prime Minister , Credit Default Swap , Icelandic Central Bank , கிலீடஞீர் வங்கி , மைய வங்கி , ப்ரைம் அமைச்சர் , கடன் இயல்புநிலை இடமாற்று , ஐஸ்லாந்து மைய வங்கி ,