state street bank issuances : state street bank currently has authority to issue up to an aggregate of $ 1 billion of subordinated fixed-rate , floating-rate or zero-coupon bank notes with a maturity of five to fifteen years .
with respect to the 5.25% ( 5.25 % ) subordinated bank notes due 2018 , state street bank is required to make semi-annual interest payments on the outstanding principal balance of the notes on april 15 and october 15 of each year , and the notes qualify as tier 2 capital under regulatory capital guidelines .
with respect to the 5.30% ( 5.30 % ) subordinated notes due 2016 and the floating-rate subordinated notes due 2015 , state street bank is required to make semi-annual interest payments on the outstanding principal balance of the 5.30% ( 5.30 % ) notes on january 15 and july 15 of each year beginning in july 2006 , and quarterly interest payments on the outstanding principal balance of the floating-rate notes on march 8 , june 8 , september 8 and december 8 of each year beginning in march 2006 .
the notes qualify as tier 2 capital under regulatory capital guidelines .
note 10 .
commitments and contingencies off-balance sheet commitments and contingencies : credit-related financial instruments include indemnified securities financing , unfunded commitments to extend credit or purchase assets and standby letters of credit .
the total potential loss on unfunded commitments , standby and commercial letters of credit and securities finance indemnifications is equal to the total contractual amount , which does not consider the value of any collateral .
the following is a summary of the contractual amount of credit-related , off-balance sheet financial instruments at december 31 .
amounts reported do not reflect participations to unrelated third parties. .

( in millions )
2006
2005
indemnified securities financing
$ 506032
$ 372863
liquidity asset purchase agreements
30251
24412
unfunded commitments to extend credit
16354
14403
standby letters of credit
4926
5027

on behalf of our customers , we lend their securities to creditworthy brokers and other institutions .
in certain circumstances , we may 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 .
we held , as agent , cash and u.s .
government securities totaling $ 527.37 billion and $ 387.22 billion as collateral for indemnified securities on loan at december 31 , 2006 and 2005 , respectively .
approximately 81% ( 81 % ) of the unfunded commitments to extend credit and liquidity asset purchase agreements expire within one year from the date of issue .
since many of the commitments are expected to expire or renew without being drawn upon , the total commitment amounts do not necessarily represent future cash requirements .
in the normal course of business , we provide liquidity and credit enhancements to asset-backed commercial paper programs , or 201cconduits . 201d these conduits are more fully described in note 11 .
the commercial paper issuances and commitments of the conduits to provide funding are supported by liquidity asset purchase agreements and backup liquidity lines of credit , the majority of which are provided by us .
in addition , we provide direct credit support to the conduits in the form of standby letters of credit .
our commitments under liquidity asset purchase agreements and backup lines of credit totaled $ 23.99 billion at december 31 , 2006 , and are included in the preceding table .
our commitments under seq 83 copyarea : 38 .
x 54 .
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Question: what is the total of credit-related financial instruments in 2006? ( $ )
Answer: 557563

Question: what is the percentage change in the balance of indemnified securities financing from 2005 to 2006?
Answer: 35.7%