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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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<PAGE> PAGE 22
062 Q000400 0.0
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064 B000400 N
070 A010400 Y
070 A020400 N
070 B010400 N
070 B020400 N
070 C010400 N
070 C020400 N
070 D010400 N
070 D020400 N
070 E010400 N
070 E020400 N
070 F010400 N
070 F020400 N
070 G010400 N
070 G020400 N
070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 N
070 K020400 N
070 L010400 N
070 L020400 N
070 M010400 N
070 M020400 N
070 N010400 N
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 Y
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400 8844
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<PAGE> PAGE 23
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<PAGE> PAGE 24
074 R030400 0
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015 A000501 STATE STREET BANK AND TRUST COMPANY
015 B000501 C
015 C010501 BOSTON
015 C020501 MA
015 C030501 02266
015 C040501 8600
015 E010501 X
015 A000502 PNC BANK, NA
015 B000502 S
015 C010502 PITTSBURGH
015 C020502 PA
015 C030502 15265
015 E010502 X
015 A000503 NATIONSBANK OF NORTH CAROLINA
015 B000503 S
015 C010503 CHARLOTTE
015 C020503 NC
015 C030503 28255
015 E010503 X
015 A000504 MORGAN GUARANTY BANK & TRUST CO.
015 B000504 S
015 C010504 NEW YORK
015 C020504 NY
015 C030504 10015
015 E010504 X
015 A000505 THE CHASE MANHATTAN CORPORATION
015 B000505 S
015 C010505 NEW YORK
015 C020505 NY
015 C030505 10006
015 E010505 X
015 A000506 BANK OF NEW YORK
015 B000506 S
015 C010506 NEW YORK
015 C020506 NY
015 C030506 10006
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<PAGE> PAGE 25
015 A000507 BANKERS TRUST CO.
015 B000507 S
015 C010507 NEW YORK
015 C020507 NY
015 C030507 10015
015 E010507 X
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<PAGE> PAGE 26
041 000500 Y
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<PAGE> PAGE 27
070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 N
070 G020500 N
070 H010500 N
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070 I020500 N
070 J010500 Y
070 J020500 N
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<PAGE> PAGE 28
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<PAGE> PAGE 29
SIGNATURE S. ELLIOTT COHAN
TITLE ASST. GEN. COUNSEL
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 011
<NAME> Municipal Securities Income Trust
Federated Pennsylvania Municipal Income Fund
Class A
<PERIOD-TYPE> 12-Mos
<FISCAL-YEAR-END> Aug-31-1997
<PERIOD-END> Aug-31-1997
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<OVERDISTRIBUTION-GAINS> 0
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<APPREC-INCREASE-CURRENT> 5,539,761
<NET-CHANGE-FROM-OPS> 14,019,910
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<DISTRIBUTIONS-OF-INCOME> 6,501,486
<DISTRIBUTIONS-OF-GAINS> 0
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<NUMBER-OF-SHARES-SOLD> 12,204,916
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<ACCUMULATED-GAINS-PRIOR> (1,930,489)
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</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 012
<NAME> Municipal Securities Income Trust
Federated Pennsylvania Municipal Income Fund
Class B
<PERIOD-TYPE> 12-Mos
<FISCAL-YEAR-END> Aug-31-1997
<PERIOD-END> Aug-31-1997
<INVESTMENTS-AT-COST> 220,627,466
<INVESTMENTS-AT-VALUE> 230,778,988
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<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 477
<ACCUMULATED-NET-GAINS> 280,530
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 10,151,522
<NET-ASSETS> 7,906,048
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7,163,487
<OTHER-INCOME> 0
<EXPENSES-NET> 894,357
<NET-INVESTMENT-INCOME> 6,269,130
<REALIZED-GAINS-CURRENT> 2,211,019
<APPREC-INCREASE-CURRENT> 5,539,761
<NET-CHANGE-FROM-OPS> 14,019,910
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<DISTRIBUTIONS-OF-INCOME> 91,906
<DISTRIBUTIONS-OF-GAINS> 0
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<NUMBER-OF-SHARES-SOLD> 678,264
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<SHARES-REINVESTED> 4,825
<NET-CHANGE-IN-ASSETS> 136,582,331
<ACCUMULATED-NII-PRIOR> 196,829
<ACCUMULATED-GAINS-PRIOR> (1,930,489)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 470,040
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,161,901
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<PER-SHARE-NAV-BEGIN> 11.520
<PER-SHARE-NII> 0.300
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</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 02
<NAME> Municipal Securities Income Trust
Federated Ohio Municipal Income Fund
<PERIOD-TYPE> 12-mos
<FISCAL-YEAR-END> Aug-31-1997
<PERIOD-END> Aug-31-1997
<INVESTMENTS-AT-COST> 71,675,104
<INVESTMENTS-AT-VALUE> 75,928,352
<RECEIVABLES> 1,210,043
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<TOTAL-ASSETS> 77,259,994
<PAYABLE-FOR-SECURITIES> 1,580,718
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<OTHER-ITEMS-LIABILITIES> 172,936
<TOTAL-LIABILITIES> 1,753,654
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<PAID-IN-CAPITAL-COMMON> 71,410,424
<SHARES-COMMON-STOCK> 6,548,899
<SHARES-COMMON-PRIOR> 5,944,265
<ACCUMULATED-NII-CURRENT> 4,634
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (161,966)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4,253,248
<NET-ASSETS> 75,506,340
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<INTEREST-INCOME> 4,217,476
<OTHER-INCOME> 0
<EXPENSES-NET> 627,686
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<DISTRIBUTIONS-OF-GAINS> 0
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<NUMBER-OF-SHARES-SOLD> 438,606
<NUMBER-OF-SHARES-REDEEMED> 1,187,600
<SHARES-REINVESTED> 1,002,473
<NET-CHANGE-IN-ASSETS> 4,938,625
<ACCUMULATED-NII-PRIOR> 35,355
<ACCUMULATED-GAINS-PRIOR> (370,668)
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,031,458
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<PER-SHARE-NAV-BEGIN> 11.210
<PER-SHARE-NII> 0.590
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</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 03
<NAME> Municipal Securities Income Trust
Federated Michigan Intermediate Municipal Trus
<PERIOD-TYPE> 12-mos
<FISCAL-YEAR-END> Aug-31-1997
<PERIOD-END> Aug-31-1997
<INVESTMENTS-AT-COST> 63,488,574
<INVESTMENTS-AT-VALUE> 66,671,042
<RECEIVABLES> 1,113,541
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<OTHER-ITEMS-ASSETS> 0
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<OTHER-ITEMS-LIABILITIES> 268,672
<TOTAL-LIABILITIES> 268,672
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 65,535,642
<SHARES-COMMON-STOCK> 6,229,544
<SHARES-COMMON-PRIOR> 5,869,678
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1,126,520)
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<ACCUM-APPREC-OR-DEPREC> 3,182,468
<NET-ASSETS> 67,591,590
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3,542,049
<OTHER-INCOME> 0
<EXPENSES-NET> 324,390
<NET-INVESTMENT-INCOME> 3,217,569
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<NUMBER-OF-SHARES-SOLD> 1,512,481
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 701,267
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</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 04
<NAME> Municipal Securities Income Trust
Federated California Municipal Income Fund
<PERIOD-TYPE> 12-mos
<FISCAL-YEAR-END> Aug-31-1997
<PERIOD-END> Aug-31-1997
<INVESTMENTS-AT-COST> 20,566,505
<INVESTMENTS-AT-VALUE> 21,633,114
<RECEIVABLES> 306,383
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<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 22,059,390
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<TOTAL-LIABILITIES> 59,269
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 21,687,284
<SHARES-COMMON-STOCK> 2,051,158
<SHARES-COMMON-PRIOR> 1,669,535
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (753,772)
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<ACCUMULATED-NII-PRIOR> 0
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<PER-SHARE-NAV-BEGIN> 10.270
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</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 05
<NAME> Municipal Securities Income Trust
Federated New York Municipal Income Fund
<PERIOD-TYPE> 12-mos
<FISCAL-YEAR-END> Aug-31-1997
<PERIOD-END> Aug-31-1997
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</TABLE>
