{
  "accepted_action_count": 0,
  "accepted_action_ids": [],
  "applied_event_ids": [],
  "as_of": "2027-09-02",
  "day": 0,
  "family_id": "FUND_01",
  "financial_time": "0.2418478260869565217391304347826086956522",
  "last_receipt_hash": "0088a4f7766fb2319151fe963f9e7fba59db8bda2eb064b7dfce91cc9517be3c",
  "last_receipt_sequence": 415,
  "legal": {
    "approvals": {},
    "decisions": {},
    "defaults": {
      "borrower": false,
      "provider": false,
      "reference_issuer": false
    },
    "disputes": {},
    "facility_status": "available",
    "observable": false,
    "rights": {
      "delivery|contract|": "effective",
      "enforceability|contract|": "effective",
      "issuance|contract|": "effective",
      "remittance|contract|": "denied",
      "restitution|borrower_only|": "conditional",
      "reuse|contract|": "denied",
      "substitution|contract|": "conditional"
    },
    "substitution_requests": {},
    "transfer_blocks": {
      "cash_remittance": false,
      "custody_delivery": false
    }
  },
  "legal_version": 0,
  "market": {
    "em_move": "0",
    "funding_move": "0",
    "market_open": true,
    "own_bond_spread": "0.0064352412",
    "own_cds_spread": "0.0029701437",
    "provider_cds": "0.0084151402",
    "ratings": {
      "borrower": "BB",
      "deployment_collateral": "BB",
      "funding_reference": "AAA",
      "provider": "A"
    },
    "reference_move": "0"
  },
  "market_version": 0,
  "obligations": {},
  "pending": [],
  "revision": 0,
  "schema_version": "desk-state.v3",
  "contracts": {
    "DEP_LOAN": {
      "effective_date": "2027-06-05",
      "execution_date": "2027-06-05",
      "id": "DEP_LOAN",
      "kind": "deployment_loan",
      "maturity_date": "2032-06-05",
      "source_evidence": [
        {
          "document_id": "SYNTHETIC_PACKET",
          "locator": "fictional-executed-agreements"
        }
      ],
      "state": {
        "concession_spread": "0",
        "concession_start_date": null,
        "last_accrual_date": "2027-06-05",
        "matured_principal_received": "0",
        "matured_principal_reinvested": "0",
        "outstanding_principal": "990009000",
        "paid_periods": [],
        "prefunding": {}
      },
      "status": "active",
      "terms": {
        "borrower_id": "BORROWER",
        "coupon_spread": "0.0455411592",
        "notional": "990009000",
        "ois": "0.0356420304",
        "principal": "990009000",
        "quarter": "0.25",
        "security_contract_id": "DEP_SECURITY"
      }
    },
    "DEP_SECURITY": {
      "effective_date": "2027-06-05",
      "execution_date": "2027-06-05",
      "id": "DEP_SECURITY",
      "kind": "deployment_security",
      "maturity_date": "2032-06-05",
      "source_evidence": [
        {
          "file": "worker/legal-terms.txt",
          "locator": "actual-deployment-terms"
        },
        {
          "file": "worker/docs/desk-runtime-contract.md",
          "locator": "## Clock and settlement order"
        }
      ],
      "state": {
        "active_lot_id": "DEPSEC",
        "collection_batches": {},
        "distributions": {},
        "liquidated_quantity": "0",
        "returned": false,
        "rights_chain": []
      },
      "status": "active",
      "terms": {
        "asset_id": "DEPSEC",
        "borrower_id": "BORROWER",
        "collateral_issuer_id": "CELADON",
        "collateral_relation": "independent",
        "contract_id": "DEP_SECURITY",
        "coupon_spread": "0.0455411592",
        "currency": "USD",
        "enforceability": "effective",
        "face_per_unit": "1",
        "facility": {
          "cash_account_id": "CASH_BRANCH",
          "lender_id": "FACILITY_LENDER",
          "limit": "257402340",
          "spread": "0.0108903245",
          "unconditional_by_selected_cutoff": true
        },
        "initial_operating_cash": "123751125",
        "issued": true,
        "legal_form": "issued_security_pledge",
        "market_funding_spread": "0.0108903245",
        "market_haircut": "0.08910333",
        "opening_total_cash": "123751125",
        "operating_call": "17820162",
        "ownership_basis": "pledge",
        "quantity": "990009000",
        "restricted_cash": "0",
        "return_obligation": "identical",
        "reuse_permitted": false,
        "scope": "actual_daily_book",
        "source_evidence": [
          {
            "file": "worker/legal-terms.txt",
            "locator": "actual-deployment-terms"
          },
          {
            "file": "worker/docs/desk-runtime-contract.md",
            "locator": "## Clock and settlement order"
          }
        ]
      }
    },
    "FACILITY": {
      "effective_date": "2027-06-05",
      "execution_date": "2027-06-05",
      "id": "FACILITY",
      "kind": "facility",
      "maturity_date": "2047-06-05",
      "source_evidence": [
        {
          "file": "worker/legal-terms.txt",
          "locator": "actual-deployment-terms"
        },
        {
          "file": "worker/docs/desk-runtime-contract.md",
          "locator": "## Clock and settlement order"
        }
      ],
      "state": {
        "interest_accrued": "0",
        "interest_paid": "0",
        "last_accrual_date": "2027-09-02",
        "outstanding_principal": "0",
        "paid_periods": []
      },
      "status": "active",
      "terms": {
        "cash_account_id": "CASH_BRANCH",
        "day_count": "ACT/365F",
        "fee": "0",
        "initial_own_bond_spread": "0.0064352412",
        "lender_id": "FACILITY_LENDER",
        "limit": "257402340",
        "ois": "0.0356420304",
        "spread": "0.0108903245",
        "unconditional_by_selected_cutoff": true,
        "year_days": "365"
      }
    },
    "FUND_TRS": {
      "effective_date": "2027-06-05",
      "execution_date": "2027-06-05",
      "id": "FUND_TRS",
      "kind": "funding_trs",
      "maturity_date": "2047-06-05",
      "source_evidence": [
        {
          "document_id": "SYNTHETIC_PACKET",
          "locator": "fictional-executed-agreements"
        }
      ],
      "state": {
        "checkpoint_attribution": {
          "carry": "33376419.767308484527",
          "cash_funding_drag": "18797129.89327568417",
          "claim_loss": "0",
          "closing_as_of": "2027-09-02",
          "deferral_observability": "-41581875.436912685824",
          "deferral_theta": "0",
          "funding_action": "41581875.436912685824",
          "funding_mtm": "0",
          "funding_theta": "0",
          "hedge_accrual": "0",
          "hedge_cash": "0",
          "hedge_mark": "0",
          "management_equity_change": "374455742.38934580729",
          "opening_as_of": "2027-06-05",
          "operating_cost": "990009",
          "overlay_equity_change": "-30187093.484686993067",
          "overlay_journal_pnl": "-30187093.484686993067",
          "owner_contributions": "391053555",
          "pnl_total": "-16597812.61065419271",
          "reserve_action": "-30187093.484686993067",
          "reserve_mtm": "0",
          "reserve_theta": "0",
          "scope": "Actual journal P&L. Reserve theta is old-market elapsed-time repricing; MTM changes only current market inputs; action is received legal, settlement and accepted-position change, never a residual accounting plug. Cash and debt principal are excluded.",
          "statutory_equity_change": "404642835.874032800357",
          "statutory_journal_pnl": "13589280.874032800357",
          "statutory_mark": "0",
          "tie_difference": "0"
        },
        "financing_coupon_accrued": "10193163.186945957065",
        "last_accrual_date": "2027-09-02",
        "last_reset_date": "2027-06-05",
        "last_reset_price": "1",
        "netting_id": "FUNDING_P",
        "observability_history": [
          {
            "day": -89,
            "observable": false
          }
        ],
        "paid_periods": [],
        "principal": "990009000",
        "reference_coupon_accrued": "10904336.156938392391",
        "reset_periods": [],
        "unsettled_stub": "0",
        "vm_balance": "0"
      },
      "status": "active",
      "terms": {
        "NICA": "0",
        "SA_CVA_approval": false,
        "classification_evidence": {
          "file": "docs/exhibit-fields.md",
          "locator": "fictional-classification"
        },
        "contract_id": "FUND_TRS",
        "currency": "USD",
        "full_value_reset": false,
        "last_reset_price": "1",
        "locked_financing_spread": "0.0069303218",
        "minimum_transfer_amount": "0",
        "mpor_floor": {
          "illiquid_or_hard_to_replace": true,
          "non_centrally_cleared": true,
          "over_5000_transactions": false,
          "remargin_interval_days": "1",
          "repeated_disputes": false,
          "source_evidence": {
            "file": "docs/reference-input-contract.md",
            "locator": "mpor-floor-facts"
          }
        },
        "netting_set_id": "FUNDING_P",
        "next_price_settlement_years": "0.25",
        "notional": "990009000",
        "ois": "0.0356420304",
        "ordinary_BA_maturity_floor_applies": true,
        "original_reference_rating": "AAA",
        "provider_ECRA_rating": "A",
        "provider_bank_eligible": true,
        "provider_credit_quality": "IG",
        "provider_due_diligence_uplift": false,
        "provider_id": "P",
        "provider_recovery": "0.4",
        "provider_sector": "financial",
        "quantity": "990009000",
        "quarter": "0.25",
        "ratings_permitted": true,
        "reference_coupon_spread": "0.009900578",
        "reference_evidence": {
          "file": "docs/exhibit-fields.md",
          "locator": "fictional-executed-agreements"
        },
        "reference_id": "U",
        "reference_issuer_kind": "other",
        "reference_price_basis": "USD per unit of original principal; final ex-distribution price zero",
        "regulatory_classification": "Credit-only SA-CCR plus LEV30 written credit under fictional classification letter; failed-sale IFRS retention reconciled separately",
        "remaining_years": "20",
        "replacement_quote": {
          "closeout_basis": "Full financing and return obligations under matched replacement terms, no own-spread-linked termination payment",
          "contract_id": "FUND_TRS",
          "conversion": "remaining_quarterly_annuity",
          "conversion_rate": "0.0356420304",
          "currency": "USD",
          "executable": true,
          "id": "SYN-REPL-FUND-FUND_01-S1",
          "includes_old_reference_adjustment": false,
          "locked_financing_spread": "0.0069303218",
          "notional": "990009000",
          "off_quarter_convention": "fractional_remaining_annuity_clean_quote",
          "old_reference_adjustment_upfront": "0",
          "provider_id": "P",
          "quantity": "990009000",
          "quarter": "0.25",
          "quote_basis": "reset_to_today",
          "quoted_at": "2027-06-05",
          "quoted_base_financing_spread": "0.009900825",
          "reference_id": "U",
          "remaining_years": "20",
          "reset_basis": "Quarterly reference-price return settlement; future financing advantage survives",
          "reset_price_convention": "Current reference price; old reference-price return is excluded from quoted margin",
          "roll_convention": "Same surviving contract, remaining maturity rolls down without renewal; margin beta applies only to stated synthetic parallel scenarios",
          "scenario_margin_beta": "1",
          "source_evidence": {
            "file": "docs/exhibit-fields.md",
            "locator": "fictional-quote-board"
          },
          "status": "Fictional binding quote convention for this educational instance, not an observed market quote"
        },
        "reset_basis": "Quarterly reference-price return settlement; future financing advantage survives",
        "stub": "0",
        "threshold": "0"
      }
    },
    "LEGACY": {
      "effective_date": "2027-06-05",
      "execution_date": "2027-06-05",
      "id": "LEGACY",
      "kind": "legacy",
      "maturity_date": "2047-06-05",
      "source_evidence": [
        {
          "document_id": "SYNTHETIC_PACKET",
          "locator": "fictional-ledgers"
        }
      ],
      "state": {
        "interest_accrued": "8603966.706329727105",
        "interest_paid": "0",
        "last_accrual_date": "2027-09-02",
        "outstanding_principal": "990009000",
        "paid_periods": []
      },
      "status": "active",
      "terms": {
        "day_count": "ACT/365F",
        "ois": "0.0356420304",
        "principal": "990009000",
        "quarter": "0.25",
        "spread": "0"
      }
    },
    "inventory:L1": {
      "effective_date": "2027-06-05",
      "execution_date": "2027-06-05",
      "id": "inventory:L1",
      "kind": "inventory_security",
      "maturity_date": "2032-06-05",
      "source_evidence": {
        "file": "docs/exhibit-fields.md",
        "locator": "fictional-actions"
      },
      "state": {
        "interest_accrued": "1024059.080807722957",
        "last_accrual_date": "2027-09-02",
        "outstanding_principal": "118801080",
        "paid_periods": []
      },
      "status": "active",
      "terms": {
        "coupon_spread": "0",
        "day_count": "quarter_actual_fraction",
        "instrument_id": "L1",
        "lot_id": "L1",
        "ois": "0.0356420304",
        "principal": "118801080",
        "quarter": "0.25"
      }
    },
    "inventory:L2": {
      "effective_date": "2027-06-05",
      "execution_date": "2027-06-05",
      "id": "inventory:L2",
      "kind": "inventory_security",
      "maturity_date": "2032-06-05",
      "source_evidence": {
        "file": "docs/exhibit-fields.md",
        "locator": "fictional-actions"
      },
      "state": {
        "interest_accrued": "938720.824073746043",
        "last_accrual_date": "2027-09-02",
        "outstanding_principal": "108900990",
        "paid_periods": []
      },
      "status": "active",
      "terms": {
        "coupon_spread": "0",
        "day_count": "quarter_actual_fraction",
        "instrument_id": "L2",
        "lot_id": "L2",
        "ois": "0.0356420304",
        "principal": "108900990",
        "quarter": "0.25"
      }
    }
  }
}