note 12 .shareholders 2019 equity accumulated other comprehensive loss : accumulated other comprehensive loss included the following components as of december 31: .
[['( in millions )', '2009', '2008', '2007'], ['foreign currency translation', '$ 281', '$ 68', '$ 331'], ['net unrealized loss on hedges of net investments in non-u.s . subsidiaries', '-14 ( 14 )', '-14 ( 14 )', '-15 ( 15 )'], ['net unrealized loss on available-for-sale securities', '-1636 ( 1636 )', '-5205 ( 5205 )', '-678 ( 678 )'], ['net unrealized loss on fair value hedges of available-for-sale securities', '-113 ( 113 )', '-242 ( 242 )', '-55 ( 55 )'], ['losses from other-than-temporary impairment on available-for-sale securities related to factors other than credit', '-159 ( 159 )', '2014', '2014'], ['losses from other-than-temporary impairment on held-to-maturity securities related to factors other than credit', '-387 ( 387 )', '2014', '2014'], ['minimum pension liability', '-192 ( 192 )', '-229 ( 229 )', '-146 ( 146 )'], ['net unrealized loss on cash flow hedges', '-18 ( 18 )', '-28 ( 28 )', '-12 ( 12 )'], ['total', '$ -2238 ( 2238 )', '$ -5650 ( 5650 )', '$ -575 ( 575 )']]
the net after-tax unrealized loss on available-for-sale securities of $ 1.64 billion and $ 5.21 billion as of december 31 , 2009 and december 31 , 2008 , respectively , included $ 635 million and $ 1.39 billion , respectively , of net after-tax unrealized losses related to securities reclassified from securities available for sale to securities held to maturity .the decrease in the losses related to transfers compared to december 31 , 2008 resulted from amortization and from the recognition of losses from other-than-temporary impairment on certain of the securities .additional information is provided in note 3 .for the year ended december 31 , 2009 , we realized net gains of $ 368 million from sales of available-for-sale securities .unrealized pre-tax gains of $ 46 million were included in other comprehensive income at december 31 , 2008 , net of deferred taxes of $ 18 million , related to these sales .for the year ended december 31 , 2008 , we realized net gains of $ 68 million from sales of available-for-sale securities .unrealized pre-tax gains of $ 71 million were included in other comprehensive income at december 31 , 2007 , net of deferred taxes of $ 28 million , related to these sales .for the year ended december 31 , 2007 , we realized net gains of $ 7 million on sales of available-for-sale securities .unrealized pre-tax losses of $ 32 million were included in other comprehensive income at december 31 , 2006 , net of deferred taxes of $ 13 million , related to these sales .preferred stock : in october 2008 , in connection with the u.s .treasury 2019s capital purchase program , we issued 20000 shares of our series b fixed-rate cumulative perpetual preferred stock , $ 100000 liquidation preference per share , and a warrant to purchase 5576208 shares of our common stock at an exercise price of $ 53.80 per share , to treasury , and received aggregate proceeds of $ 2 billion .the aggregate proceeds were allocated to the preferred stock and the warrant based on their relative fair values on the date of issuance .as a result , approximately $ 1.88 billion and $ 121 million , respectively , were allocated to the preferred stock and the warrant .the difference between the initial value of $ 1.88 billion allocated to the preferred stock and the liquidation amount of $ 2 billion was intended to be charged to retained earnings and credited to the preferred stock over the period that the preferred stock was outstanding , using the effective yield method .for 2008 and 2009 , these charges to retained earnings reduced net income available to common shareholders by $ 4 million and $ 11 million , respectively , and reduced basic and diluted earnings per common share for those periods .these calculations are presented in note 22 .the preferred shares qualified as tier 1 regulatory capital , and paid cumulative quarterly dividends at a rate of 5% ( 5 % ) per year .for 2008 and 2009 , the accrual of dividends on the preferred shares reduced net income available to common shareholders by $ 18 million and $ 46 million , respectively , and reduced basic and diluted earnings per common share for those periods .these calculations are presented in note 22 .the warrant was immediately .

Question: what was the percent change in net unrealized loss on available-for-sale securities between 2008 and 2009?
Answer: -68%