Financial report context:
pricing the loans . when available , valuation assumptions included observable inputs based on whole loan sales . adjustments are made to these assumptions to account for situations when uncertainties exist , including market conditions and liquidity . credit risk is included as part of our valuation process for these loans by considering expected rates of return for market participants for similar loans in the marketplace . based on the significance of unobservable inputs , we classify this portfolio as level 3 . equity investments the valuation of direct and indirect private equity investments requires significant management judgment due to the absence of quoted market prices , inherent lack of liquidity and the long-term nature of such investments . the carrying values of direct and affiliated partnership interests reflect the expected exit price and are based on various techniques including publicly traded price , multiples of adjusted earnings of the entity , independent appraisals , anticipated financing and sale transactions with third parties , or the pricing used to value the entity in a recent financing transaction . in september 2009 , the fasb issued asu 2009-12 2013 fair value measurements and disclosures ( topic 820 ) 2013 investments in certain entities that calculate net asset value per share ( or its equivalent ) . based on the guidance , we value indirect investments in private equity funds based on net asset value as provided in the financial statements that we receive from their managers . due to the time lag in our receipt of the financial information and based on a review of investments and valuation techniques applied , adjustments to the manager-provided value are made when available recent portfolio company information or market information indicates a significant change in value from that provided by the manager of the fund . these investments are classified as level 3 . customer resale agreements we account for structured resale agreements , which are economically hedged using free-standing financial derivatives , at fair value . the fair value for structured resale agreements is determined using a model which includes observable market data such as interest rates as inputs . readily observable market inputs to this model can be validated to external sources , including yield curves , implied volatility or other market-related data . these instruments are classified as level 2 . blackrock series c preferred stock effective february 27 , 2009 , we elected to account for the approximately 2.9 million shares of the blackrock series c preferred stock received in a stock exchange with blackrock at fair value . the series c preferred stock economically hedges the blackrock ltip liability that is accounted for as a derivative . the fair value of the series c preferred stock is determined using a third-party modeling approach , which includes both observable and unobservable inputs . this approach considers expectations of a default/liquidation event and the use of liquidity discounts based on our inability to sell the security at a fair , open market price in a timely manner . due to the significance of unobservable inputs , this security is classified as level 3 . level 3 assets and liabilities financial instruments are considered level 3 when their values are determined using pricing models , discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable . level 3 assets and liabilities dollars in millions level 3 assets level 3 liabilities % (  % ) of total assets at fair value % (  % ) of total liabilities at fair value consolidated assets consolidated liabilities .

Financial table:
dollars in millions: december 31 2009; total level 3 assets: $ 14151; total level 3 liabilities: $ 295; % (  % ) of total assets at fair value: 22% ( 22 % ); % (  % ) of total liabilities at fair value: 6% ( 6 % ); % (  % ) of consolidated assets: 5% ( 5 % ); % (  % ) of consolidated liabilities: < 1; column_8: % (  % )
dollars in millions: december 31 2008; total level 3 assets: 7012; total level 3 liabilities: 22; % (  % ) of total assets at fair value: 19% ( 19 % ); % (  % ) of total liabilities at fair value: < 1% ( 1 % ); % (  % ) of consolidated assets: 2% ( 2 % ); % (  % ) of consolidated liabilities: < 1% ( 1 % )

Additional report context:
during 2009 , securities transferred into level 3 from level 2 exceeded securities transferred out by $ 4.4 billion . total securities measured at fair value and classified in level 3 at december 31 , 2009 and december 31 , 2008 included securities available for sale and trading securities consisting primarily of non-agency residential mortgage-backed securities and asset- backed securities where management determined that the volume and level of activity for these assets had significantly decreased . there have been no recent new 201cprivate label 201d issues in the residential mortgage-backed securities market . the lack of relevant market activity for these securities resulted in management modifying its valuation methodology for the instruments transferred in 2009 . other level 3 assets include certain commercial mortgage loans held for sale , certain equity securities , auction rate securities , corporate debt securities , private equity investments , residential mortgage servicing rights and other assets. .

Question: what was the increase in level 3 liabilities between december 31 2009 and december 31 2008 , in millions?
Answer: 273