List of European banks in risk - by P/B-ratio (price-to-book ratio)
Wikipedia: The price-to-book ratio, or P/B ratio, is a financial ratio used to compare a company's book value to its current market price. Book value is an accounting term denoting the portion of the company held by the shareholders; in other words, the company's total tangible assets less its total liabilities. The calculation can be performed in two ways, but the result should be the same each way.
Visual of the 5yr CDS for BoA, MS, Dexia, Soc Gen, Banco Popular and Unicredit
Credit default swaps are contracts designed to insure creditors against a bank (or indeed any company) going bust.
A CDS is a contract issued by big City firms or fund that guarantees the holder will be covered if a particular company defaults on its debts. It is basically a type of insurance used by large investing institutions.