note 10 .
commitments and contingencies credit-related commitments and contingencies : credit-related financial instruments , which are off-balance sheet , include indemnified securities financing , unfunded commitments to extend credit or purchase assets , and standby letters of credit .
the potential loss associated with indemnified securities financing , unfunded commitments and standby letters of credit is equal to the total gross contractual amount , which does not consider the value of any collateral .
the following table summarizes the total gross contractual amounts of credit-related off-balance sheet financial instruments at december 31 .
amounts reported do not reflect participations to independent third parties. .

( in millions )
2009
2008
indemnified securities financing
$ 365251
$ 324590
asset purchase agreements ( 1 )
8211
31780
unfunded commitments to extend credit
18078
20981
standby letters of credit
4784
6061

( 1 ) amount for 2009 excludes agreements related to the commercial paper conduits , which were consolidated in may 2009 ; see note 11 .
approximately 81% ( 81 % ) of the unfunded commitments to extend credit expire within one year from the date of issue .
since many of these commitments are expected to expire or renew without being drawn upon , the total commitment amount does not necessarily represent future cash requirements .
securities finance : on behalf of our customers , we lend their securities to creditworthy brokers and other institutions .
we generally indemnify our customers for the fair market value of those securities against a failure of the borrower to return such securities .
collateral funds received in connection with our securities finance services are held by us as agent and are not recorded in our consolidated statement of condition .
we require the borrowers to provide collateral in an amount equal to or in excess of 100% ( 100 % ) of the fair market value of the securities borrowed .
the borrowed securities are revalued daily to determine if additional collateral is necessary .
in this regard , we held , as agent , cash and u.s .
government securities with an aggregate fair value of $ 375.92 billion and $ 333.07 billion as collateral for indemnified securities on loan at december 31 , 2009 and 2008 , respectively , presented in the table above .
the collateral held by us is invested on behalf of our customers in accordance with their guidelines .
in certain cases , the collateral is invested in third-party repurchase agreements , for which we indemnify the customer against loss of the principal invested .
we require the repurchase agreement counterparty to provide collateral in an amount equal to or in excess of 100% ( 100 % ) of the amount of the repurchase agreement .
the indemnified repurchase agreements and the related collateral are not recorded in our consolidated statement of condition .
of the collateral of $ 375.92 billion at december 31 , 2009 and $ 333.07 billion at december 31 , 2008 referenced above , $ 77.73 billion at december 31 , 2009 and $ 68.37 billion at december 31 , 2008 was invested in indemnified repurchase agreements .
we held , as agent , cash and securities with an aggregate fair value of $ 82.62 billion and $ 71.87 billion as collateral for indemnified investments in repurchase agreements at december 31 , 2009 and december 31 , 2008 , respectively .
legal proceedings : in the ordinary course of business , we and our subsidiaries are involved in disputes , litigation and regulatory inquiries and investigations , both pending and threatened .
these matters , if resolved adversely against us , may result in monetary damages , fines and penalties or require changes in our business practices .
the resolution of these proceedings is inherently difficult to predict .
however , we do not believe that the amount of any judgment , settlement or other action arising from any pending proceeding will have a material adverse effect on our consolidated financial condition , although the outcome of certain of the matters described below may have a material adverse effect on our consolidated results of operations for the period in which such matter is resolved .

Question: what is the percent change in asset purchase agreements between 2008 and 2009?
Answer: -74%

Question: what is the percentage change in the indemnified securities financing from 2008 to 2009?
Answer: 12.5%

Question: what is the percentage change in the standby letters of credit from 2008 to 2009?
Answer: -21.1%

Question: what is the percent change in the amount kept as collateral between 2008 and 2009?
Answer: 12.9%