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Beginning 2013:Q4, ratio of transactions due to foreign affiliates excluding non-bank financial institutions is applied to total transactions from foreign subsidiaries. From 2009:Q1 to 2013:Q3,, stocks outstanding calculated as 75 percent of holding companies' transactions due to their foreign affiliates (FOF series FL263094733). The estimate of the portion of transactions due to foreign bank subsidiaries comes from the FR Board, IF Division. Prior to 2009:Q1, series is estimated as 100 percent of holding companies' transactions due to their foreign affiliates. Transactions are calculated as the change in the stocks outstanding. Data for the most recent ten years show no significant seasonality.