notes to consolidated financial statements see notes 6 and 7 for further information about fair value measurements of cash instruments and derivatives , respectively , included in 201cfinancial instruments owned , at fair value 201d and 201cfinancial instruments sold , but not yet purchased , at fair value , 201d and note 8 for further information about fair value measurements of other financial assets and financial liabilities accounted for at fair value under the fair value option .the table below presents financial assets and financial liabilities accounted for at fair value under the fair value option or in accordance with other u.s .gaap .in the table below , cash collateral and counterparty netting represents the impact on derivatives of netting across levels of the fair value hierarchy .netting among positions classified in the same level is included in that level. .
[['$ in millions', 'as of december 2013', 'as of december 2012'], ['total level 1 financial assets', '$ 156030', '$ 190737'], ['total level 2 financial assets', '499480', '502293'], ['total level 3 financial assets', '40013', '47095'], ['cash collateral and counterparty netting', '-95350 ( 95350 )', '-101612 ( 101612 )'], ['total financial assets at fair value', '$ 600173', '$ 638513'], ['total assets1', '$ 911507', '$ 938555'], ['total level 3 financial assets as a percentage of total assets', '4.4% ( 4.4 % )', '5.0% ( 5.0 % )'], ['total level 3 financial assets as a percentage of total financial assets at fair value', '6.7% ( 6.7 % )', '7.4% ( 7.4 % )'], ['total level 1 financialliabilities', '$ 68412', '$ 65994'], ['total level 2 financial liabilities', '300583', '318764'], ['total level 3 financial liabilities', '12046', '25679'], ['cash collateral and counterparty netting', '-25868 ( 25868 )', '-32760 ( 32760 )'], ['total financial liabilities at fair value', '$ 355173', '$ 377677'], ['total level 3 financial liabilities as a percentage of total financial liabilities at fairvalue', '3.4% ( 3.4 % )', '6.8% ( 6.8 % )']]
1 .includes approximately $ 890 billion and $ 915 billion as of december 2013 and december 2012 , respectively , that is carried at fair value or at amounts that generally approximate fair value .level 3 financial assets as of december 2013 decreased compared with december 2012 , primarily reflecting a decrease in derivative assets , bank loans and bridge loans , and loans and securities backed by commercial real estate .the decrease in derivative assets primarily reflected a decline in credit derivative assets , principally due to settlements and unrealized losses .the decrease in bank loans and bridge loans , and loans and securities backed by commercial real estate primarily reflected settlements and sales , partially offset by purchases and transfers into level 3 .level 3 financial liabilities as of december 2013 decreased compared with december 2012 , primarily reflecting a decrease in other liabilities and accrued expenses , principally due to the sale of a majority stake in the firm 2019s european insurance business in december 2013 .see notes 6 , 7 and 8 for further information about level 3 cash instruments , derivatives and other financial assets and financial liabilities accounted for at fair value under the fair value option , respectively , including information about significant unrealized gains and losses , and transfers in and out of level 3 .124 goldman sachs 2013 annual report .

Question: what is the growth rate in total financial liabilities at fair value in 2013?
Answer: -6.0%