Bank of America's CDS spreads tighten 11 bps: investor

NEW YORK (Reuters) - The cost of protecting Bank of America's debt with credit default swaps fell on Monday after the largest U.S. retail bank posted lower but better-than-expected quarterly results.

Bank of America's five-year credit protection costs fell by 11 basis points to 113 basis points, or $113,000 a year to protect $10 million of debt, an investor said. The bank's protection costs are down from 145 basis points last Wednesday.

(Reporting by Dena Aubin; Editing by Theodore d'Afflisio)