Credit Suisse default swaps 18x UBS Group AG, 9x Deutsche Bank

The cost of insuring the bonds of Credit Suisse Group AG against default in the near-term is approaching a level that typically signals serious investor concerns.
 
One-year credit default swaps for the embattled Swiss lender were indicated at 835.9 basis points on Tuesday’s close of business, based on pricing source CMAQ. Other pricing sources point to a further rise on Wednesday, while a level of 1,000 would indicate serious concern.
 
The current level is about 18 times the one-year CDS for rival Swiss bank UBS Group AG, and about 9 times the equivalent for Deutsche Bank AG.