{"pre_text": ["morgan stanley notes to consolidated financial statements 2014 ( continued ) consumer price index ) .", "senior debt also may be structured to be callable by the company or extendible at the option of holders of the senior debt securities .", "debt containing provisions that effectively allow the holders to put or extend the notes aggregated $ 1175 million at december 31 , 2013 and $ 1131 million at december 31 , 2012 .", "in addition , separate agreements are entered into by the company 2019s subsidiaries that effectively allow the holders to put the notes aggregated $ 353 million at december 31 , 2013 and $ 1895 million at december 31 , 2012 .", "subordinated debt and junior subordinated debentures generally are issued to meet the capital requirements of the company or its regulated subsidiaries and primarily are u.s .", "dollar denominated .", "senior debt 2014structured borrowings .", "the company 2019s index-linked , equity-linked or credit-linked borrowings include various structured instruments whose payments and redemption values are linked to the performance of a specific index ( e.g. , standard & poor 2019s 500 ) , a basket of stocks , a specific equity security , a credit exposure or basket of credit exposures .", "to minimize the exposure resulting from movements in the underlying index , equity , credit or other position , the company has entered into various swap contracts and purchased options that effectively convert the borrowing costs into floating rates based upon libor .", "these instruments are included in the preceding table at their redemption values based on the performance of the underlying indices , baskets of stocks , or specific equity securities , credit or other position or index .", "the company carries either the entire structured borrowing at fair value or bifurcates the embedded derivative and carries it at fair value .", "the swaps and purchased options used to economically hedge the embedded features are derivatives and also are carried at fair value .", "changes in fair value related to the notes and economic hedges are reported in trading revenues .", "see note 4 for further information on structured borrowings .", "subordinated debt and junior subordinated debentures .", "included in the company 2019s long-term borrowings are subordinated notes of $ 9275 million having a contractual weighted average coupon of 4.69% ( 4.69 % ) at december 31 , 2013 and $ 5845 million having a weighted average coupon of 4.81% ( 4.81 % ) at december 31 , 2012 .", "junior subordinated debentures outstanding by the company were $ 4849 million at december 31 , 2013 and $ 4827 million at december 31 , 2012 having a contractual weighted average coupon of 6.37% ( 6.37 % ) at both december 31 , 2013 and december 31 , 2012 .", "maturities of the subordinated and junior subordinated notes range from 2014 to 2067 .", "maturities of certain junior subordinated debentures can be extended to 2052 at the company 2019s option .", "asset and liability management .", "in general , securities inventories that are not financed by secured funding sources and the majority of the company 2019s assets are financed with a combination of deposits , short-term funding , floating rate long-term debt or fixed rate long-term debt swapped to a floating rate .", "fixed assets are generally financed with fixed rate long-term debt .", "the company uses interest rate swaps to more closely match these borrowings to the duration , holding period and interest rate characteristics of the assets being funded and to manage interest rate risk .", "these swaps effectively convert certain of the company 2019s fixed rate borrowings into floating rate obligations .", "in addition , for non-u.s .", "dollar currency borrowings that are not used to fund assets in the same currency , the company has entered into currency swaps that effectively convert the borrowings into u.s .", "dollar obligations .", "the company 2019s use of swaps for asset and liability management affected its effective average borrowing rate as follows: ."], "post_text": ["( 1 ) included in the weighted average and effective average calculations are non-u.s .", "dollar interest rates .", "other .", "the company , through several of its subsidiaries , maintains funded and unfunded committed credit facilities to support various businesses , including the collateralized commercial and residential mortgage whole loan , derivative contracts , warehouse lending , emerging market loan , structured product , corporate loan , investment banking and prime brokerage businesses. ."], "table": [["", "2013", "2012", "2011"], ["weighted average coupon of long-term borrowings at period-end ( 1 )", "4.4% ( 4.4 % )", "4.4% ( 4.4 % )", "4.0% ( 4.0 % )"], ["effective average borrowing rate for long-term borrowings after swaps at period-end ( 1 )", "2.2% ( 2.2 % )", "2.3% ( 2.3 % )", "1.9% ( 1.9 % )"]], "table_ori": [["", "2013", "2012", "2011"], ["Weighted average coupon of long-term borrowings at period-end(1)", "4.4%", "4.4%", "4.0%"], ["Effective average borrowing rate for long-term borrowings after swaps at period-end(1)", "2.2%", "2.3%", "1.9%"]]}

Question: what was the effect in difference of average borrowing rate due to the use of swaps in 2012?
Evidence:
table_1: the weighted average coupon of long-term borrowings at period-end ( 1 ) of 2013 is 4.4% ( 4.4 % ) ; the weighted average coupon of long-term borrowings at period-end ( 1 ) of 2012 is 4.4% ( 4.4 % ) ; the weighted average coupon of long-term borrowings at period-end ( 1 ) of 2011 is 4.0% ( 4.0 % ) ;
table_2: the effective average borrowing rate for long-term borrowings after swaps at period-end ( 1 ) of 2013 is 2.2% ( 2.2 % ) ; the effective average borrowing rate for long-term borrowings after swaps at period-end ( 1 ) of 2012 is 2.3% ( 2.3 % ) ; the effective average borrowing rate for long-term borrowings after swaps at period-end ( 1 ) of 2011 is 1.9% ( 1.9 % ) ;
Program: subtract(4.4, 2.3)
Answer:
str_answer: 2.1%
exe_answer: 2.1