Trade Finance in the 2008–09 Financial Crisis
Figure 5.14 Change in Trade Instrument Pricing a. Q4 CY08 vs. Q4 CY07
basis points over cost of funds
80
60
40
48 20 31 14
de -r le elat nd e in d g
tra
po in rt c su re ra di nc t e
ex
le
tte cr rs o ed f it
0
b. Q4 CY09 vs. Q4 CY08
basis points over cost of funds
80
60
40
20 11 6
3
Sources: IMF and BAFT-IFSA 2010. Note: CY = calendar year.
-r le elat nd e in d g
de tra
po in rt c su re ra di nc t e
ex
le tte cr rs o ed f it
0
111