Beginning in 2008:Q1, level from the Consolidated Report of Condition and Income for Edge and Agreement Corporations (form FR 2886b), schedule-RC - Balance Sheet, domestic Trading assets (RCFD3545 less RCFN3545) multiplied by, from schedule RC-D - Trading Assets and Liabilities, the ratio of Securities issued by states and political subdivisions in the U.S. (RCFD3533) to Total trading assets (RCFD3545). From 1985:Q4 to 2007:Q4, series is not shown separately and level is 0. Through 1985:Q3, series was from quarterly Report of Assets and Liabilities of U.S. Branches and Agencies of Foreign Banks (forms FFIEC 002). Unadjusted flow is the change in the level; data for the most recent ten years show no significant seasonality.