18 . allowance for credit losses .

2009: allowance for loan losses at beginning of year: 29616
gross credit losses: -32784
gross recoveries: 2043
net credit ( losses ) recoveries ( ncls ): -30741
ncls: 30741
net reserve builds ( releases ): 5741
net specific reserve builds ( releases ): 2278
total provision for credit losses: 38760
other net ( 2 ): -1602
allowance for loan losses at end of year: 36033
allowance for credit losses on unfunded lending commitments at beginning of year ( 3 ): 887
provision for unfunded lending commitments: 244
allowance for credit losses on unfunded lending commitments at end of year ( 3 ): 1157
total allowance for loans leases and unfunded lending commitments: 37190
2008 ( 1 ): allowance for loan losses at beginning of year: 16117
gross credit losses: -20760
gross recoveries: 1749
net credit ( losses ) recoveries ( ncls ): -19011
ncls: 19011
net reserve builds ( releases ): 11297
net specific reserve builds ( releases ): 3366
total provision for credit losses: 33674
other net ( 2 ): -1164
allowance for loan losses at end of year: 29616
allowance for credit losses on unfunded lending commitments at beginning of year ( 3 ): 1250
provision for unfunded lending commitments: -363
allowance for credit losses on unfunded lending commitments at end of year ( 3 ): 887
total allowance for loans leases and unfunded lending commitments: 30503
2007 ( 1 ): allowance for loan losses at beginning of year: 8940
gross credit losses: -11864
gross recoveries: 1938
net credit ( losses ) recoveries ( ncls ): -9926
ncls: 9926
net reserve builds ( releases ): 6550
net specific reserve builds ( releases ): 356
total provision for credit losses: 16832
other net ( 2 ): 271
allowance for loan losses at end of year: 16117
allowance for credit losses on unfunded lending commitments at beginning of year ( 3 ): 1100
provision for unfunded lending commitments: 150
allowance for credit losses on unfunded lending commitments at end of year ( 3 ): 1250
total allowance for loans leases and unfunded lending commitments: 17367

( 1 ) reclassified to conform to the current period 2019s presentation . ( 2 ) 2009 primarily includes reductions to the loan loss reserve of approximately $ 543 million related to securitizations , approximately $ 402 million related to the sale or transfers to held-for-sale of u.s . real estate lending loans , and $ 562 million related to the transfer of the u.k . cards portfolio to held-for-sale . 2008 primarily includes reductions to the loan loss reserve of approximately $ 800 million related to fx translation , $ 102 million related to securitizations , $ 244 million for the sale of the german retail banking operation , $ 156 million for the sale of citicapital , partially offset by additions of $ 106 million related to the cuscatl e1n and bank of overseas chinese acquisitions . 2007 primarily includes reductions to the loan loss reserve of $ 475 million related to securitizations and transfers to loans held-for-sale , and reductions of $ 83 million related to the transfer of the u.k . citifinancial portfolio to held-for-sale , offset by additions of $ 610 million related to the acquisitions of egg , nikko cordial , grupo cuscatl e1n and grupo financiero uno . ( 3 ) represents additional credit loss reserves for unfunded corporate lending commitments and letters of credit recorded in other liabilities on the consolidated balance sheet. .

Questions:
what is the net change in value of allowance for loan losses from 2007 to 2008?
what percentage change does this represent?

Answers:
7177
80%