Part II: Bonds1. Municipal Bonds - Municipal bonds are haircut per Exhibit 1based on both their time

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Part II: Bonds1. Municipal Bonds - Municipal bonds are haircut per Exhibit 1based on both their time to maturity and scheduled maturity at dateof issue. The bond details can be found on the Bonds & EXHIBIT \#1 (c)(2) Definitions: Net Capital (Continued) (vi) SECURITIES HAIRCUTS (Continued) (B) MUNICIPALS (1) In the case of any municipal security which has a scheduled maturity at date of issue of 2 answers

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Part II: Bonds1. Municipal Bonds - Municipal bonds are haircut per Exhibit 1based on both their time

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