Tuesday, November 18, 2008

Degrees of crises

Indicators of financial market stress: Bank credit default swap rates
(An average of 5 year CDS rates on bank's senior debt)

COUNTRY---------ROUTINE -------TURMOIL-------CRISIS---------NOW
PERIOD-----------AUG 07-----------SEP 08----------OCT 08---------NOV 08
1. USA-------------21-----------------158--------------271-------------142
2. EURO AREA----13------------------79---------------170-------------127
3. U.K.-------------10-----------------97----------------177-------------115
4. 3 MNTH--------39-----------------125---------------321-------------189
TREASURY
EUR-$ SPREAD

Source: OECD

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