[{"step":0,"generation":0,"created_at":"2026-09-20T09:40:26.855Z","event":{"content":"New agent session \"main-agent\" started at 2026-09-20T09:40:26Z.","marker":"new_session","type":"system"}},{"step":0,"generation":0,"created_at":"2026-09-20T09:40:26.856Z","event":{"content":"You are an expert AI Research Agent capable of reasoning, planning, and independently executing complex, long-horizon research tasks that may span hours or days. You are also a highly capable programmer, primarily proficient in Python. Your objective is to achieve the best possible outcomes under specific resource constraints (time and compute) by employing a rigorous, principled research methodology.\n\n**METHODOLOGY 1: WELL-DEFINED FOCUSED TASKS**\nWhen executing tasks with clear success criteria, strictly follow this linear pipeline:\n1. **Understand:** Gather context, define the goal, and review constraints.\n2. **Plan:** Formulate a step-by-step approach before writing any code.\n3. **Implement:** Prototype, write code and tests, fix test failures and lint errors.\n4. **Evaluate:** Experiment, debug, and analyze the results.\n5. **Conclude:** Document your findings and finalize the deliverable.\n\n**METHODOLOGY 2: OPEN-ENDED RESEARCH TASKS**\nWhen tackling open-ended research without strict \"success\" criteria, you must adhere to the following workflow practices:\n* **Context Gathering:** Always begin by absorbing the task definition and background knowledge. Deeply familiarize yourself with the relevant codebase, existing literature, and documentation.\n* **Literature Survey & Idea Generation:** Spawn parallel sub-agents to conduct a thorough survey of the state-of-the-art. Common sources include the Internet, available documentation, and codebase. Use these findings to generate a list of promising directions by adapting new research, combining existing ideas, or developing entirely novel approaches.\n* **Ambitious & Iterative Planning:** Formulate a dynamic, iterative research plan. Prioritize ambitious, high-impact, and novel research directions. Dedicate 80% of your effort to high-risk/high-reward exploration, falling back to incremental improvements for the final 20% of your time only if necessary.\n* **Parallel Exploration:** Select 3-5 most promising research directions and spawn parallel sub-agents (using 'link' workspace mode) to explore each as a focused task. Evaluate the outcomes, then iterate and build upon the strongest results from previous cycles. Keep your focus on the research scope and ambitious goal, be critical if the sub-agents want to abandon the task with half-baked results.\n* **Version Control Discipline:** Use VCS rigorously to manage important milestones. Prefer workspace-local VCS commits over changelists (CLs) unless explicitly instructed otherwise.\n* **State Management:** Continuously monitor and log your overall progress, the status of individual sub-tasks, and your alignment with the overarching project goals.\n* **Sub-agent Discipline:** Avoid delegating indefinitely. At 3+ levels deep, prefer doing the work yourself over sub-agent delegation.\n\n## Execution principles\n\n- **Maximize scope.** Be ambitious and exhaust the promising avenues before concluding something is impossible.\n- **Finish the task.** Don't stop early on a self-imposed constraint. Validate any \"this is blocked\" hypothesis before abandoning it. If your result falls short of the objective, close the gap rather than concluding with an acknowledgment of the shortfall.\n- **Stay sustainable.** Your speed produces a lot of code; to survive hundreds of iterations it must be clean, modular, and easy to extend.\n- **Optimize the feedback loop.** Prefer fast local checks (build, unit test, run) over slow remote jobs; fail early and cheaply.\n\n## Coding principles\n\nKeep the codebase easy to maintain and evolve:\n\n- **Code over prose.** Prefer self-explanatory code to explanation; prefer an explicit\n interface, a check, or a test to a sentence promising the same thing.\n- **Lean comments.** Document the non-obvious \"why\"; never restate what the code says.\n One line is the target — a paragraph needs a reason. Historical context goes in the\n commit message, not the code.\n- **Comments rot silently.** Nothing lints them. State a fact once, next to the code\n that owns it, and cross-reference rather than repeat.\n\n## Tool usage strategy\n\n- **Prefer specialized tools over bash.** When a purpose-built tool exists (file view/edit, full-text search, session inspection, recall), use it instead of shelling out — the results are cleaner and cheaper.\n- **Learn on the fly.** If a task needs an unfamiliar tool, CLI, skill, path, or resource, use `recall_search` to find a relevant skill or lesson *before* proceeding. Never declare you can't do something before checking your skills.\n- **Don't busy-poll a long job — background it and wait to be woken.** For work whose timing you don't control (a long build/test/experiment, a file appearing, a metric crossing a threshold), launch a detached background script that captures output and notifies you on completion, then `await_event` to park until it reports back. The script reaches you via `amplio-notify \"\"` (delivered to your own session; add `--session=` to target another, or pipe a long body via `amplio-notify -`). Canonical one-shot recipe (a single detached subshell runs the command, saves stdout/stderr to the run's scratch dir, and notifies with the exit code + paths when it finishes):\n\n ```bash\n J=\"$AMPLIO_ARTIFACT_DIR/job-$(date +%s)\"\n ( >\"$J.out\" 2>\"$J.err\"; amplio-notify \"job done (exit $?): out=$J.out err=$J.err\" ) &\n ```\n\n Then call `await_event` to wait for it efficiently. Periodic/conditional variant: loop with a `sleep` inside the subshell and notify only when your condition holds (e.g. `while ! grep -q DONE \"$LOG\"; do sleep 10; done; amplio-notify \"ready\"`). A notification wakes you if you're parked in `await_event`, and revives you if you've gone idle or are awaiting; it does **not** revive you once you have concluded (or crashed/been cancelled) — the environment cannot resurrect a finished agent. When woken, read the captured output with `view_file`.\n\n- **Every notification must carry news, and no notifier may run forever.** Send one when something changed that you would actually act on — not heartbeats (\"still running\", \"3/7 done\") and never from an unbounded loop. Each notification wakes you and is replayed verbatim in your context on every later turn, so uninformative ones crowd out the informative one. The server caps notification per session step and refuses beyond that (`amplio-notify` exits 3 with `env_notice_capped` on stderr — match that to stop a loop). Give any watcher an exit condition, and **kill the ones you started before you finish**.\n\n\n## Sub-agent strategy\n\nUse `spawn_agent` to delegate work. It returns immediately and the sub-agent runs in parallel, delivering its final result as a message when it finishes.\n\n- **Workspace mode.** `share` (default): the sub-agent works in the *same* workspace — best for read-only or information-gathering tasks (avoid concurrent edits). `link`: an isolated linked workspace (git/jj worktree or CitC link) with independent file edits but shared history — best for spawning several parallel coding attempts that must not clobber each other.\n- **Share via the artifact dir.** All sub-agents share the run's artifact directory; use it as scratch space — e.g. a parent-written plan read by every child, and per-child result files read back by the parent.\n- **Coordinate, don't poll.** Use `send_message` (always naming the target session id) to talk to another session, `await_event` to park until a child finishes or the operator messages you, and `session_peek` only when you suspect a child is stuck. Don't expect results the instant you spawn.\n- **Act and wait in one turn.** `await_event` can be called in the *same* step as the action that will produce the event — e.g. `spawn_agent` + `await_event`, `send_message` + `await_event`, or launching a background `bash` job + `await_event`. This blocks the turn until the work reports back, instead of spending a separate turn just to wait.\n- **A sub-agent can be re-engaged in any state.** `send_message` reaches it whether it is live (running or parked) or stopped (`idle`/`concluded`/`crashed`/`cancelled`); if it has stopped, your message revives it with its full prior context intact (a status like `concluded` just means it finished its last turn, not that it's gone). Prefer this to re-spawning a fresh agent when you want to ask a follow-up question or hand more work to a child with existing context.\n- **Delegate less the deeper you are.** Your step-0 bootstrap message says how many levels below the run's root you are. Avoid delegating indefinitely. **At 3 or more levels deep, do the work yourself**. Spawn at that depth only when the work genuinely splits into parallel parts you cannot do sequentially, and then tell each child to do its part itself rather than delegating again.\n\n\n## Completion\n\nWhen the overarching task is completely finished, give your final summary in plain text with NO tool calls — the absence of tool calls signals completion. Be concise and direct about the final state.\n\n**ARTIFACT DIRECTORY**\nYou have a per-run private scratch directory at the absolute path in the `$AMPLIO_ARTIFACT_DIR` environment variable — separate from your working directory (the user's project). Use it for plan files, intermediate analysis, notes, and anything you want sub-agents (or your future self after a context compaction) to read. When you share these artifacts with the user, always format the *full path*: $AMPLIO_ARTIFACT_DIR/path/to/file. The UI will linkify it into a helpful link for the user.","marker":"system_prompt","type":"system"}},{"step":0,"generation":0,"created_at":"2026-09-20T09:40:26.857Z","event":{"content":"Working directory: `/work`","marker":"workspace","type":"system"}},{"step":0,"generation":0,"created_at":"2026-09-20T09:40:26.858Z","event":{"content":"Work as the funding trader: manage the firm's interests, serve its clients and control risk throughout the entire management period. Keep funding and client commitments viable, respond to changing exposures, and account for earnings, costs and surviving obligations. A transaction, approval or correct report is one step, not the complete objective. Use treasury, credit and market risk, capital, legal and compliance, accounting and settlement evidence together. Operate the current financial desk checkpoint in /packet/packet.json. Treat that read-only packet as authority for the parent hash, versions, current state, executable quotes, ordered phases and available evidence. Earlier delivered receipts are retained in /work/receipts. Your prior working files and Amplio run history remain in /work. Use the public conventions and exact citations in public_inputs.documents, including the complete schemas/daily-report.schema.json document for report fields and citations. In calculations.recommendation.rationale connect the locked funding price and remaining tenor, drawn versus committed capacity, idle carry, matching replacement-curve evidence, collateral flexibility and signed spread sensitivity to the recommended decision. A funding advantage gains on spread widening and loses on tightening; it is a two-sided linear position, not a free conventional option. Separate widening P&L from the desk's negative spread-duration convention and from the deployment's own credit risk. Compare retaining the mismatch with available collateralised deployment or hedge routes after fees, expected loss, capital, margin liquidity and unwind costs. Explain collateral weights, factor betas, tenor and residual basis only where supported by packet evidence. Sold protection is long credit and sizes to residual risky CS01, not face amount; entering it would not cash out a funding mark. Bilateral VM and IM principal are collateral, not fee income; cleared mark-to-market payments may instead settle gains and losses. The current packet fixes its curve and permitted instruments: purchased provider protection is not a sold CDX bridge. Do not invent a curve change, CDX trade or CLO purchase. Identify unavailable alternatives and their missing quotes or permissions in the explanation, not as actions. Name the binding legal, mandate, client or liquidity constraint and the market or client fact that would change the recommendation. Preserve surviving settlement duties, actual receipts and the distinction between regulatory recognition and economic coverage. Do not claim to have chosen this inherited book's opening trades. The optional /packet/calculator.py only accepts the registered practice query contract in packet.calculator and never grades or values this live book. Prepare one strict JSON desk-envelope.v2 object with parent_state_hash, revision, market_version, legal_version, actions and calculations. Calculations use daily-book.v2. Actions are explicit decisions with unique action_id, quoted quote_id and integer phase. Only accepted actions settle the current day. An empty action list cannot advance it. Use hold_capital if it is your supported decision; never fabricate an executable quote, capacity, cash receipt, title or legal right. Report the current parent before your actions, not a projected next-day book. Write the whole envelope as UTF-8 JSON, at most 1048576 bytes, to /work/artifacts/envelope-1473cecfb1a94437b899c2097f06b7ff.json. Do not execute or submit it yourself. Finish this attempt after the file is durable; future instructions arrive externally. Current parent: 6d1645a487425409f4da8db6aa0d4fcaab93ce7b8516b65ce41eaaf60d2ad165.","type":"user"}},{"step":1,"generation":0,"created_at":"2026-09-20T09:40:43.827Z","event":{"content":"I’ll read the current packet and supporting evidence, reconcile the inherited book and surviving obligations, then write the JSON envelope without submitting it.","stop_reason":"tool_calls","tool_calls":[{"id":"call_568ff1f65298543d8a7a9c40bb9a815b","name":"bash","arguments":"{\"command\":\"pwd && ls -la /packet && ls -la /work && printf '\\\\nARTIFACT_DIR=%s\\\\n' \\\"$AMPLIO_ARTIFACT_DIR\\\" && ls -la /work/receipts /work/artifacts 2>/dev/null\",\"max_output_length\":20000}"}],"type":"assistant","usage":{"prompt_tokens":4875,"completion_tokens":110,"total_tokens":4985}}},{"step":1,"generation":0,"created_at":"2026-09-20T09:40:43.842Z","event":{"content":"STDOUT:\n/work\ntotal 2864\ndr-xr-xr-x 1 root root 200 Sep 20 09:40 .\ndrwxr-xr-x 1 root root 240 Sep 20 09:40 ..\n-r-xr-xr-x 1 root root 7086 Sep 20 09:40 calculator.py\n-r--r--r-- 1 root root 745 Sep 20 09:40 manifest.json\n-r--r--r-- 1 root root 2921009 Sep 20 09:40 packet.json\n-r--r--r-- 1 root root 2520 Sep 20 09:40 practice-inputs.json\ntotal 0\ndrwx------ 1 amplio amplio 140 Sep 20 09:40 .\ndrwxr-xr-x 1 root root 240 Sep 20 09:40 ..\ndrwx------ 1 amplio amplio 40 Sep 20 09:40 artifacts\ndrwx------ 1 amplio amplio 240 Sep 20 09:40 data\ndrwx------ 1 amplio amplio 40 Sep 20 09:40 home\ndrwx------ 1 amplio amplio 60 Sep 20 09:40 receipts\ndrwx------ 1 amplio amplio 80 Sep 20 09:40 tmp\n\nARTIFACT_DIR=/work/data/artifacts/qyaws7fs\n/work/artifacts:\ntotal 0\ndrwx------ 1 amplio amplio 40 Sep 20 09:40 .\ndrwx------ 1 amplio amplio 140 Sep 20 09:40 ..\n\n/work/receipts:\ntotal 1171\ndrwx------ 1 amplio amplio 60 Sep 20 09:40 .\ndrwx------ 1 amplio amplio 140 Sep 20 09:40 ..\n-rw------- 1 amplio amplio 1198704 Sep 20 09:40 page-6d1645a487425409f4da8db6aa0d4fcaab93ce7b8516b65ce41eaaf60d2ad165-0-415.json\n\n\nSTATUS:\nFinished normally at 2026-09-20T09:40:43Z (elapsed=0.01s)","tool_call_id":"call_568ff1f65298543d8a7a9c40bb9a815b","type":"tool_result"}},{"step":2,"generation":0,"created_at":"2026-09-20T09:40:59.708Z","event":{"stop_reason":"tool_calls","tool_calls":[{"id":"call_cc801f3788285cda9198b250e4503c19","name":"bash","arguments":"{\"command\":\"python - <<'PY'\\nimport json\\np=json.load(open('/packet/packet.json'))\\nprint(type(p), list(p))\\nfor k,v in p.items():\\n print(k, type(v).__name__, list(v) if isinstance(v,dict) else (len(v) if isinstance(v,list) else str(v)[:1200]))\\nPY\",\"max_output_length\":20000}"}],"type":"assistant","usage":{"prompt_tokens":5478,"completion_tokens":102,"total_tokens":5580,"cache_read_tokens":4873}}},{"step":2,"generation":0,"created_at":"2026-09-20T09:40:59.773Z","event":{"content":"STDOUT:\n ['as_of', 'available_events', 'calculator', 'day', 'event_bindings', 'family_id', 'legal_version', 'market_version', 'parent_state_hash', 'phases', 'policy', 'prior_receipts', 'public_inputs', 'quotes', 'receipt_window', 'revision', 'run_id', 'schema_version', 'state']\nas_of str 2027-09-02\navailable_events list 0\ncalculator dict ['accepts_live_state', 'accepts_parameter_overrides', 'calculator_sha256', 'limits', 'operations', 'practice_ids', 'registry_sha256', 'request_fields', 'schema_version', 'scope']\nday int 0\nevent_bindings dict []\nfamily_id str FUND_01\nlegal_version int 0\nmarket_version int 0\nparent_state_hash str 6d1645a487425409f4da8db6aa0d4fcaab93ce7b8516b65ce41eaaf60d2ad165\nphases list 3\npolicy dict ['accounting', 'calendar', 'capital', 'collections', 'csa', 'daily_report', 'defaults', 'execution', 'facility', 'institutional', 'inventory', 'name', 'offset', 'opening', 'prices', 'protection', 'prudent_valuation', 'reinvestment', 'repo', 'resource_limits', 'rights', 'schema_version', 'source_documents', 'source_evidence', 'status', 'substitution']\nprior_receipts list 415\npublic_inputs dict ['case', 'documents', 'family', 'parameters', 'policy']\nquotes list 66\nreceipt_window dict ['after_sequence', 'has_more', 'last_sequence', 'through_sequence']\nrevision int 0\nrun_id str 01ae968c465c4793876d7965d557a0be\nschema_version str desk-worker-packet.v1\nstate dict ['accepted_action_count', 'accepted_action_ids', 'accounts', 'applied_event_ids', 'as_of', 'contracts', 'day', 'family_id', 'financial_time', 'last_receipt_hash', 'last_receipt_sequence', 'legal', 'legal_version', 'lots', 'market', 'market_version', 'obligations', 'pending', 'revision', 'schema_version']\n\n\nSTATUS:\nFinished normally at 2026-09-20T09:40:59Z (elapsed=0.06s)","tool_call_id":"call_cc801f3788285cda9198b250e4503c19","type":"tool_result"}},{"step":3,"generation":0,"created_at":"2026-09-20T09:41:41.848Z","event":{"stop_reason":"tool_calls","tool_calls":[{"id":"call_f54b8041fe375dee8013a3331cbde770","name":"bash","arguments":"{\"max_output_length\":30000,\"command\":\"python - <<'PY'\\nimport json, os\\np=json.load(open('/packet/packet.json'))\\na=os.environ['AMPLIO_ARTIFACT_DIR']\\nfor k in ['state','policy','quotes','phases','public_inputs','calculator','receipt_window']:\\n with open(f'{a}/{k}.json','w') as f: json.dump(p[k],f,ensure_ascii=False,indent=2)\\nprint('PHASES',json.dumps(p['phases'],indent=2));print('STATE', json.dumps({k:v for k,v in p['state'].items() if k not in ['accepted_action_ids','lots','contracts','obligations','pending']},indent=2))\\nprint('PUBLIC INPUTS')\\nfor k,v in p['public_inputs'].items():\\n print(k,type(v).__name__,list(v) if isinstance(v,dict) else (len(v) if isinstance(v,list) else str(v)[:1200]))\\nd=p['public_inputs']['documents'];print('DOC INDEX')\\nif isinstance(d,dict):\\n for k,v in d.items(): print(k, type(v).__name__, len(str(v)), (list(v) if isinstance(v,dict) else str(v)[:180]))\\nelif isinstance(d,list):\\n for i,v in enumerate(d): print(i,type(v).__name__, len(str(v)),list(v) if isinstance(v,dict) else str(v)[:180])\\nPY\"}"}],"type":"assistant","usage":{"prompt_tokens":6104,"completion_tokens":337,"total_tokens":6441,"cache_read_tokens":5476}}},{"step":3,"generation":0,"created_at":"2026-09-20T09:41:41.964Z","event":{"content":"STDOUT:\nPHASES [\n {\n \"event\": null,\n \"phase\": 0,\n \"scheduled\": [\n {\n \"contract_id\": null,\n \"kind\": \"approval_review\",\n \"period_id\": \"2027-09-02\",\n \"scheduled_date\": \"2027-09-02\"\n }\n ]\n },\n {\n \"event\": null,\n \"phase\": 1,\n \"scheduled\": [\n {\n \"contract_id\": null,\n \"kind\": \"approval_review\",\n \"period_id\": \"2027-09-02\",\n \"scheduled_date\": \"2027-09-02\"\n }\n ]\n },\n {\n \"event\": null,\n \"phase\": 2,\n \"scheduled\": [\n {\n \"contract_id\": null,\n \"kind\": \"day_close\",\n \"period_id\": \"2027-09-02\",\n \"scheduled_date\": \"2027-09-02\"\n }\n ]\n }\n]\nSTATE {\n \"accepted_action_count\": 0,\n \"accounts\": {\n \"cash\": \"123832604.859317781832\",\n \"claim_allowance\": \"0\",\n \"contributed_equity\": \"-391053555\",\n \"deployment_accrued\": \"19437814.846170841304\",\n \"deployment_principal\": \"990009000\",\n \"expense_fees\": \"990009\",\n \"expense_funding\": \"18797129.89327568417\",\n \"expense_loss\": \"0\",\n \"facility_debt\": \"0\",\n \"income_carry\": \"-33376419.767308484527\",\n \"income_hedge\": \"0\",\n \"income_mark\": \"0\",\n \"inventory\": \"267302430\",\n \"legacy_debt\": \"-990009000\",\n \"management_deferral\": \"-41581875.436912685824\",\n \"management_funding_mark\": \"41581875.436912685824\",\n \"management_hedge_asset\": \"0\",\n \"management_income_deferral\": \"41581875.436912685824\",\n \"management_income_hedge\": \"0\",\n \"management_income_mark\": \"-41581875.436912685824\",\n \"management_income_reserve\": \"30187093.484686993067\",\n \"management_xva\": \"-30187093.484686993067\",\n \"posted_vm\": \"0\",\n \"received_vm\": \"0\",\n \"reinvestment_principal\": \"0\",\n \"repo_debt\": \"0\",\n \"restricted_cash\": \"0\",\n \"restricted_collections\": \"0\",\n \"retained_U\": \"990009000\",\n \"return_liability\": \"0\",\n \"sale_financing\": \"-990009000\",\n \"statutory_derivative_asset\": \"0\",\n \"statutory_derivative_liability\": \"0\",\n \"unpaid_payable\": \"-18797129.89327568417\",\n \"unpaid_receivable\": \"12867116.061819861391\"\n },\n \"applied_event_ids\": [],\n \"as_of\": \"2027-09-02\",\n \"day\": 0,\n \"family_id\": \"FUND_01\",\n \"financial_time\": \"0.2418478260869565217391304347826086956522\",\n \"last_receipt_hash\": \"0088a4f7766fb2319151fe963f9e7fba59db8bda2eb064b7dfce91cc9517be3c\",\n \"last_receipt_sequence\": 415,\n \"legal\": {\n \"approvals\": {},\n \"decisions\": {},\n \"defaults\": {\n \"borrower\": false,\n \"provider\": false,\n \"reference_issuer\": false\n },\n \"disputes\": {},\n \"facility_status\": \"available\",\n \"observable\": false,\n \"rights\": {\n \"delivery|contract|\": \"effective\",\n \"enforceability|contract|\": \"effective\",\n \"issuance|contract|\": \"effective\",\n \"remittance|contract|\": \"denied\",\n \"restitution|borrower_only|\": \"conditional\",\n \"reuse|contract|\": \"denied\",\n \"substitution|contract|\": \"conditional\"\n },\n \"substitution_requests\": {},\n \"transfer_blocks\": {\n \"cash_remittance\": false,\n \"custody_delivery\": false\n }\n },\n \"legal_version\": 0,\n \"market\": {\n \"em_move\": \"0\",\n \"funding_move\": \"0\",\n \"market_open\": true,\n \"own_bond_spread\": \"0.0064352412\",\n \"own_cds_spread\": \"0.0029701437\",\n \"provider_cds\": \"0.0084151402\",\n \"ratings\": {\n \"borrower\": \"BB\",\n \"deployment_collateral\": \"BB\",\n \"funding_reference\": \"AAA\",\n \"provider\": \"A\"\n },\n \"reference_move\": \"0\"\n },\n \"market_version\": 0,\n \"revision\": 0,\n \"schema_version\": \"desk-state.v3\"\n}\nPUBLIC INPUTS\ncase dict ['agreements', 'as_of', 'bank', 'base_currency', 'book', 'collateral', 'counterparty_constraints', 'instruments', 'mandate', 'netting_sets', 'opinions', 'parties']\ndocuments dict ['CURRENT_INPUTS.json', 'docs/capital-actions.md', 'docs/capital-rulebook.md', 'docs/desk-runtime-contract.md', 'docs/economic-specification.md', 'docs/reference-input-contract.md', 'docs/reserve-module.md', 'family/worker/legal-terms.txt', 'fixtures/desk-policy.json', 'schemas/daily-report.schema.json']\nfamily dict ['axes', 'clock', 'deployment_contract', 'family_id', 'jurisdiction', 'parties', 'terms', 'title']\nparameters dict ['actions', 'allocation', 'book', 'currency', 'day_one_accounting', 'deployment_coupon_spread', 'deployment_years', 'desk', 'execution_margin', 'funding_contract', 'funding_years', 'incurred_CVA', 'internal_AAA_initial', 'leverage_snapshot', 'notional', 'ois', 'opening_free_cash', 'opening_legacy_funding', 'opening_legacy_spread', 'own_CDS_spread', 'own_bond_spread', 'provider_CDS', 'provider_recovery', 'quarter', 'reference_coupon_spread', 'regulatory', 'replacement_margin', 'replacement_quote', 'schema_version', 'whole_book']\npolicy dict ['accounting', 'calendar', 'capital', 'collections', 'csa', 'daily_report', 'defaults', 'execution', 'facility', 'institutional', 'inventory', 'name', 'offset', 'opening', 'prices', 'protection', 'prudent_valuation', 'reinvestment', 'repo', 'resource_limits', 'rights', 'schema_version', 'source_documents', 'source_evidence', 'status', 'substitution']\nDOC INDEX\nCURRENT_INPUTS.json dict 143415 ['sha256', 'text']\ndocs/capital-actions.md dict 37714 ['sha256', 'text']\ndocs/capital-rulebook.md dict 82795 ['sha256', 'text']\ndocs/desk-runtime-contract.md dict 55639 ['sha256', 'text']\ndocs/economic-specification.md dict 56864 ['sha256', 'text']\ndocs/reference-input-contract.md dict 17760 ['sha256', 'text']\ndocs/reserve-module.md dict 38784 ['sha256', 'text']\nfamily/worker/legal-terms.txt dict 30158 ['sha256', 'text']\nfixtures/desk-policy.json dict 28531 ['sha256', 'text']\nschemas/daily-report.schema.json dict 68276 ['sha256', 'text']\n\n\nSTATUS:\nFinished normally at 2026-09-20T09:41:41Z (elapsed=0.12s)","tool_call_id":"call_f54b8041fe375dee8013a3331cbde770","type":"tool_result"}},{"step":4,"generation":0,"created_at":"2026-09-20T09:42:26.366Z","event":{"stop_reason":"tool_calls","tool_calls":[{"id":"call_6ad87d84a5345cb49247e270790fb4ee","name":"bash","arguments":"{\"max_output_length\":14000,\"command\":\"python - <<'PY'\\nimport json, os\\np=json.load(open('/packet/packet.json'));a=os.environ['AMPLIO_ARTIFACT_DIR']\\nfor k,v in p['public_inputs']['documents'].items():\\n f=f'{a}/documents/{k}';os.makedirs(os.path.dirname(f),exist_ok=True)\\n open(f,'w').write(v['text'])\\nfor k in ['case','family','parameters']:\\n json.dump(p['public_inputs'][k],open(f'{a}/{k}.json','w'),indent=2)\\nprint('Extracted authoritative documents to',a+'/documents')\\ns=json.loads(p['public_inputs']['documents']['schemas/daily-report.schema.json']['text'])\\nprint('schema top keys:',list(s));print(json.dumps({k:v for k,v in s.items() if k not in ['$defs','properties']},indent=2))\\nprint('properties',list(s.get('properties',{})));print('defs',list(s.get('$defs',{})))\\nprint('QUOTES SUMMARY')\\nfor q in p['quotes']:\\n print(json.dumps(q,ensure_ascii=False))\\nPY\"}"}],"type":"assistant","usage":{"prompt_tokens":8169,"completion_tokens":386,"total_tokens":8555,"cache_read_tokens":6102}}},{"step":4,"generation":0,"created_at":"2026-09-20T09:42:26.454Z","event":{"content":"STDOUT:\nExtracted authoritative documents to /work/data/artifacts/qyaws7fs/documents\nschema top keys: ['$schema', '$id', 'title', 'description', 'type', 'additionalProperties', 'required', 'properties', '$defs', 'x-daily-owners', 'x-resource-policy', 'x-evidence-contract', 'x-fatal-scope']\n{\n \"$schema\": \"https://json-schema.org/draft/2020-12/schema\",\n \"$id\": \"urn:back-to-back-funding:daily-book.v2\",\n \"title\": \"Settled parent-checkpoint financial and institutional assertions\",\n \"description\": \"Five financial sections use exact current-source assertions. Legal, compliance, structure and recommendation sections use entailed premises, independent client outcomes and supported alternatives, never exact reference prose.\",\n \"type\": \"object\",\n \"additionalProperties\": false,\n \"required\": [\n \"schema_version\",\n \"parent_state_hash\",\n \"rates\",\n \"credit_xva\",\n \"capital\",\n \"liquidity\",\n \"accounting\",\n \"legal\",\n \"compliance\",\n \"structure\",\n \"recommendation\"\n ],\n \"x-daily-owners\": {\n \"O1\": {\n \"weight\": 7,\n \"panel\": \"DAILY_FUNDING\",\n \"evidence_array\": \"/rates/evidence\",\n \"fields\": [\n \"/rates/funding_notional\",\n \"/rates/unsettled_stub\",\n \"/rates/legal_funding_mark\",\n \"/rates/quoted_funding_component\",\n \"/rates/management_funding_gain\",\n \"/rates/reference_return_adjustment\",\n \"/rates/funding_remaining_years\",\n \"/rates/deployment_remaining_years\",\n \"/rates/last_reset_price\",\n \"/rates/next_payment_delay\",\n \"/rates/reference_price\",\n \"/rates/replacement_spread\",\n \"/rates/quote_annuity\",\n \"/rates/quote_id\",\n \"/rates/principal_source\",\n \"/rates/trs_principal_received\",\n \"/rates/deployment_coupon_spread\",\n \"/rates/roles\"\n ]\n },\n \"O2\": {\n \"weight\": 7,\n \"panel\": \"DAILY_CREDIT\",\n \"evidence_array\": \"/credit_xva/evidence\",\n \"fields\": [\n \"/credit_xva/provider_cds\",\n \"/credit_xva/own_bond_spread\",\n \"/credit_xva/own_cds_spread\",\n \"/credit_xva/bond_cds_basis\",\n \"/credit_xva/CVA\",\n \"/credit_xva/KVA_component\",\n \"/credit_xva/UFVA\",\n \"/credit_xva/actual_unsecured_debt\",\n \"/credit_xva/annual_debt_funding_cost\",\n \"/credit_xva/reserve_borrowing\",\n \"/credit_xva/projection\"\n ]\n },\n \"O3\": {\n \"weight\": 10,\n \"panel\": \"DAILY_CAPITAL\",\n \"evidence_array\": \"/capital/evidence\",\n \"fields\": [\n \"/capital/SA_CCR\",\n \"/capital/CCR_RWA\",\n \"/capital/CCR_K\",\n \"/capital/CVA_K\",\n \"/capital/market_risk_K\",\n \"/capital/RWA\",\n \"/capital/leverage_exposure\",\n \"/capital/risk_requirement\",\n \"/capital/leverage_requirement\",\n \"/capital/required_capital\",\n \"/capital/Tier1_before_AVA\",\n \"/capital/AVA\",\n \"/capital/Tier1_after_AVA\",\n \"/capital/capital_shortfall\",\n \"/capital/capital_release_cash\",\n \"/capital/executable_under_stated_capital\",\n \"/capital/binding_constraint\",\n \"/capital/deployment\",\n \"/capital/asset_map\"\n ]\n },\n \"O4\": {\n \"weight\": 7,\n \"panel\": \"DAILY_PROTECTION\",\n \"evidence_array\": \"/credit_xva/evidence\",\n \"fields\": [\n \"/credit_xva/protection\"\n ]\n },\n \"O5\": {\n \"weight\": 8,\n \"panel\": \"DAILY_ALLOCATION\",\n \"evidence_array\": \"/liquidity/evidence\",\n \"fields\": [\n \"/capital/repo\",\n \"/liquidity/allocation\",\n \"/liquidity/facility_limit\",\n \"/liquidity/facility_available\"\n ]\n },\n \"O6\": {\n \"weight\": 7,\n \"panel\": \"DAILY_LIQUIDITY\",\n \"evidence_array\": \"/liquidity/evidence\",\n \"fields\": [\n \"/liquidity/cash\",\n \"/liquidity/restricted_cash\",\n \"/liquidity/restricted_collections\",\n \"/liquidity/posted_vm\",\n \"/liquidity/received_vm\",\n \"/liquidity/facility_debt\",\n \"/liquidity/repo_debt\",\n \"/liquidity/unpaid_receivable\",\n \"/liquidity/unpaid_payable\",\n \"/liquidity/due_payables\",\n \"/liquidity/deadline_shortfall\",\n \"/liquidity/market_open\",\n \"/liquidity/transfer_blocks\",\n \"/liquidity/inventory\",\n \"/liquidity/obligations\",\n \"/liquidity/accepted_action_count\"\n ]\n },\n \"O7\": {\n \"weight\": 6,\n \"panel\": \"DAILY_RECOGNITION\",\n \"evidence_array\": \"/accounting/evidence\",\n \"fields\": [\n \"/accounting/statutory/accounting_unit\",\n \"/accounting/statutory/funding_derivative_asset\",\n \"/accounting/statutory/owner_contribution_pnl\",\n \"/accounting/management/gross_inception_gain\",\n \"/accounting/management/deferred_gain\",\n \"/accounting/management/observable_at_inception\",\n \"/accounting/management/currently_observable\",\n \"/accounting/management/deferral_released_by_evidence\"\n ]\n },\n \"O8\": {\n \"weight\": 8,\n \"panel\": \"DAILY_ATTRIBUTION\",\n \"evidence_array\": \"/accounting/evidence\",\n \"fields\": [\n \"/accounting/statutory/assets\",\n \"/accounting/statutory/liabilities\",\n \"/accounting/statutory/allowances\",\n \"/accounting/statutory/contributed_equity\",\n \"/accounting/statutory/equity\",\n \"/accounting/statutory/cumulative_pnl\",\n \"/accounting/statutory/trial_balance\",\n \"/accounting/statutory/balances\",\n \"/accounting/statutory/booked_balances\",\n \"/accounting/statutory/valuation_postings\",\n \"/accounting/management/funding_mark\",\n \"/accounting/management/hedge_asset\",\n \"/accounting/management/CVA_reserve\",\n \"/accounting/management/KVA_reserve\",\n \"/accounting/management/overlay_equity\",\n \"/accounting/management/equity\",\n \"/accounting/management/cumulative_pnl\",\n \"/accounting/management/trial_balance\",\n \"/accounting/management/balances\",\n \"/accounting/management/valuation_postings\",\n \"/accounting/bridge\",\n \"/accounting/attribution\",\n \"/accounting/terminal\"\n ]\n },\n \"O9\": {\n \"weight\": 10,\n \"section\": \"legal\",\n \"fields\": [\n \"/legal\"\n ]\n },\n \"O10\": {\n \"weight\": 10,\n \"section\": \"compliance\",\n \"fields\": [\n \"/compliance\"\n ]\n },\n \"O11\": {\n \"weight\": 10,\n \"section\": \"structure\",\n \"fields\": [\n \"/structure\"\n ]\n },\n \"O12\": {\n \"weight\": 10,\n \"section\": \"recommendation\",\n \"fields\": [\n \"/recommendation\"\n ]\n }\n },\n \"x-resource-policy\": \"fixtures/desk-policy.json#/daily_report\",\n \"x-evidence-contract\": \"Financial owners require exact current exhibit_id, locator and DAILY_* claim bindings. Institutional owners require source-entailing conclusion-specific premises and accept supported alternative positions. Reference defects are UNSCORABLE; wording is not graded. Client outcome credit requires an actually wor\n[...truncated...]\nty, duplicate funding statutory asset, omitted surviving claims and actual overdue obligations are independent qualification predicates, never arithmetic score multipliers.\"\n}\nproperties ['schema_version', 'parent_state_hash', 'rates', 'credit_xva', 'capital', 'liquidity', 'accounting', 'legal', 'compliance', 'structure', 'recommendation']\ndefs ['money', 'scalar', 'citation', 'protection_contract', 'netting_set', 'inventory_lot', 'repo_lot', 'repo_contract', 'asset_detail', 'capital_asset', 'obligation', 'terminal_obligation', 'ava_exposure']\nQUOTES SUMMARY\n{\"as_of\": \"2027-09-02\", \"id\": \"157e8cf5a33d362b83926d6b0e6bea27a2f9e6681700623a150a29f36e790213\", \"kind\": \"hold_capital\", \"legal_version\": 0, \"market_version\": 0, \"parent_state_hash\": \"6d1645a487425409f4da8db6aa0d4fcaab93ce7b8516b65ce41eaaf60d2ad165\", \"phase\": 0, \"revision\": 0, \"source_evidence\": [{\"file\": \"fixtures/desk-policy.json\", \"locator\": \"prices\"}, {\"file\": \"fixtures/numerical-inputs.json\", \"locator\": \"/actions/hold\"}, {\"document_id\": \"SYNTHETIC_PACKET\", \"locator\": \"fictional-desk-mandate\"}], \"terms\": {\"disclosed_event_prefix\": [], \"fee\": \"0\", \"mandate\": {\"bank_id\": \"MERIDIAN\", \"evidence\": [{\"document_id\": \"SYNTHETIC_PACKET\", \"locator\": \"fictional-desk-mandate\"}], \"mandate_id\": \"BOOK_DESK_MANDATE\", \"rules\": [{\"action_kind\": \"hold_capital\", \"approval_delay_days\": 0, \"approval_outcome\": null, \"approval_valid_days\": 0, \"approver_id\": null, \"evidence\": [{\"document_id\": \"SYNTHETIC_PACKET\", \"locator\": \"fictional-desk-mandate\"}], \"maximum_amount\": null, \"reason_codes\": [\"CAPITAL_RETAINED\"], \"rule_id\": \"DESK_HOLD\", \"subject_id\": \"MERIDIAN\", \"tier\": \"permitted\"}, {\"action_kind\": \"hold_capital\", \"approval_delay_days\": 0, \"approval_outcome\": null, \"approval_valid_days\": 0, \"approver_id\": null, \"evidence\": [{\"document_id\": \"SYNTHETIC_PACKET\", \"locator\": \"fictional-desk-mandate\"}], \"maximum_amount\": null, \"reason_codes\": [\"CAPITAL_RETAINED\"], \"rule_id\": \"PROPOSAL_ACT_HOLD\", \"subject_id\": \"ACT_HOLD\", \"tier\": \"permitted\"}]}, \"phase_legal\": {\"defaults\": {\"borrower\": false, \"provider\": false, \"reference_issuer\": false}, \"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\"}, \"transfer_blocks\": {\"cash_remittance\": false, \"custody_delivery\": false}}, \"phase_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\"}, \"phase_prefix_digest\": \"4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945\", \"pricing\": {\"allocation\": \"source_value\", \"buy_ask_multiplier\": \"1\", \"buy_fee\": \"0\", \"deployment_security\": \"source_coupon_current_em_curve_remaining_financial_tenor\", \"equivalent\": \"same_instrument_current_unit_price\", \"execution\": \"same_day_delivery_versus_payment\", \"funding_reference\": \"source_reference_price_remaining_financial_tenor\", \"independent_security\": \"source_coupon_independent_issuer_curve\", \"market_maker_id\": \"DESK_SECURITY_MARKET_MAKER\", \"market_maker_status\": \"Named synthetic current firm quote counterparty with committed consideration only for accepted, legally deliverable current-price trades. It never settles unrelated claims.\", \"payment_rights\": \"no_traded_security_price\", \"sale_bid_multiplier\": \"1\", \"sale_fee\": \"0\", \"settlement_lag_business_days\": 0, \"settlement_scope\": \"Current synthetic market-maker action quote expressly uses same-day DVP, distinct from the source instrument's ordinary one-business-day indicative settlement convention; quote acceptance requires legal delivery and actual settled consideration together.\", \"unissued_promise\": \"no_inventory_no_price_no_liquidation\"}, \"resource_limits\": {\"max_actions_per_day\": 64, \"max_assignments\": 512, \"max_contracts\": 16384, \"max_decimal_digits\": 80, \"max_decimal_places\": 40, \"max_decision_premises\": 16, \"max_events\": 4096, \"max_input_bytes\": 1048576, \"max_json_depth\": 32, \"max_json_nodes\": 50000, \"max_legal_approvals\": 256, \"max_legal_decisions\": 256, \"max_lots\": 16384, \"max_obligations\": 262144, \"max_output_bytes\": 1048576, \"max_packet_bytes\": 33554432, \"max_pending\": 16384, \"max_premise_value_items\": 32, \"max_rationale_chars\": 2000, \"max_source_bytes\": 16777216, \"max_string_length\": 16384}, \"source_quote\": {\"action_id\": \"hold\", \"description\": \"Keep existing contracts and capital; no imagined cash release or forced refinancing\", \"effective_business_days\": \"0\", \"executable\": true, \"fee\": \"0\", \"source_evidence\": {\"file\": \"docs/exhibit-fields.md\", \"locator\": \"fictional-actions\"}}, \"version_basis\": \"parent_checkpoint_with_disclosed_phase_fact_binding\"}, \"valid_until\": \"2027-09-02\"}\n{\"as_of\": \"2027-09-02\", \"id\": \"cf39fe6ce4b250075669874bf7081d614dd94f0f16946b74c86259210f294185\", \"kind\": \"execute_csa\", \"legal_version\": 0, \"market_version\": 0, \"parent_state_hash\": \"6d1645a487425409f4da8db6aa0d4fcaab93ce7b8516b65ce41eaaf60d2ad165\", \"phase\": 0, \"revision\": 0, \"source_evidence\": [{\"file\": \"fixtures/desk-policy.json\", \"locator\": \"prices\"}, {\"file\": \"docs/exhibit-fields.md\", \"locator\": \"fictional-actions\"}, {\"file\": \"fixtures/desk-policy.json\", \"locator\": \"csa\"}, {\"document_id\": \"SYNTHETIC_PACKET\", \"locator\": \"fictional-desk-mandate\"}], \"terms\": {\"disclosed_event_prefix\": [], \"mandate\": {\"bank_id\": \"MERIDIAN\", \"evidence\": [{\"document_id\": \"SYNTHETIC_PACKET\", \"locator\": \"fictional-desk-mandate\"}], \"mandate_id\": \"BOOK_DESK_MANDATE\", \"rules\": [{\"action_kind\": \"execute_csa\", \"approval_delay_days\": 1, \"approval_outcome\": \"approved\", \"approval_valid_days\": 5, \"approver_id\": \"MERIDIAN\", \"evidence\": [{\"document_id\": \"SYNTHETIC_PACKET\", \"locator\": \"fictional-desk-mandate\"}], \"maximum_amount\": \"742506750\", \"reason_codes\": [\"CSA_CASH_BUDGET\", \"LIQUIDITY_STRESS_BUDGET\"], \"rule_id\": \"DESK_CSA\", \"subject_id\": \"FUND_TRS\", \"tier\": \"requires_approval\"}]}, \"phase_legal\": {\"defaults\": {\"borrower\": false, \"provider\": false, \"reference_issuer\": false}, \"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\"}, \"transfer_blocks\": {\"cash_remittance\": false, \"custody_delivery\": false}}, \"phase_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\", \"deployme\n[...output truncated at 14000 bytes; 964059 total...]\n\nSTATUS:\nFinished normally at 2026-09-20T09:42:26Z (elapsed=0.09s)","tool_call_id":"call_6ad87d84a5345cb49247e270790fb4ee","type":"tool_result"}},{"step":5,"generation":0,"created_at":"2026-09-20T09:43:08.272Z","event":{"stop_reason":"tool_calls","tool_calls":[{"id":"call_0a39ae848f30545b9d01b6c394d66230","name":"bash","arguments":"{\"max_output_length\":24000,\"command\":\"python - <<'PY'\\nimport json\\np=json.load(open('/packet/packet.json'));d=json.loads(p['public_inputs']['documents']['CURRENT_INPUTS.json']['text'])\\nprint('CURRENT_INPUTS type,keys',type(d).__name__,list(d) if isinstance(d,dict) else '')\\nif isinstance(d,dict):\\n for k,v in d.items(): print(k,type(v).__name__,list(v) if isinstance(v,dict) else (len(v) if isinstance(v,list) else str(v)[:300]))\\nprint('\\\\nQ summary')\\nfor q in p['quotes']:\\n print(q['phase'],q['kind'],q['id'],list(q['terms']))\\nprint('\\\\nSTATE structures')\\nfor k in ['contracts','lots','obligations','pending']:\\n v=p['state'][k]; print(k,type(v).__name__,len(v)); print(str(v)[:2000])\\nPY\"}"}],"type":"assistant","usage":{"prompt_tokens":12460,"completion_tokens":278,"total_tokens":12738,"cache_read_tokens":8167}}},{"step":5,"generation":0,"created_at":"2026-09-20T09:43:08.339Z","event":{"content":"STDOUT:\nCURRENT_INPUTS type,keys dict ['case', 'family', 'parameters']\ncase dict ['agreements', 'as_of', 'bank', 'base_currency', 'book', 'collateral', 'counterparty_constraints', 'instruments', 'mandate', 'netting_sets', 'opinions', 'parties']\nfamily dict ['axes', 'clock', 'deployment_contract', 'family_id', 'jurisdiction', 'parties', 'terms', 'title']\nparameters dict ['actions', 'allocation', 'book', 'currency', 'day_one_accounting', 'deployment_coupon_spread', 'deployment_years', 'desk', 'execution_margin', 'funding_contract', 'funding_years', 'incurred_CVA', 'internal_AAA_initial', 'leverage_snapshot', 'notional', 'ois', 'opening_free_cash', 'opening_legacy_funding', 'opening_legacy_spread', 'own_CDS_spread', 'own_bond_spread', 'provider_CDS', 'provider_recovery', 'quarter', 'reference_coupon_spread', 'regulatory', 'replacement_margin', 'replacement_quote', 'schema_version', 'whole_book']\n\nQ summary\n0 hold_capital 157e8cf5a33d362b83926d6b0e6bea27a2f9e6681700623a150a29f36e790213 ['disclosed_event_prefix', 'fee', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'pricing', 'resource_limits', 'source_quote', 'version_basis']\n0 execute_csa cf39fe6ce4b250075669874bf7081d614dd94f0f16946b74c86259210f294185 ['disclosed_event_prefix', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'pricing', 'resource_limits', 'source_quote', 'version_basis']\n0 substitute_collateral 1bc1d38445c96a7c43c3597e11cd1b6924da8ce44a8196dd9e643ebdfdf5db38 ['disclosed_event_prefix', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'prices', 'pricing', 'resource_limits', 'source_quote', 'version_basis']\n0 reverse_substitution ffb3435ac97a68eb6c7093d2bc8bf6878263fbb8e60af4bfca1853ea72fcf84d ['disclosed_event_prefix', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'prices', 'pricing', 'resource_limits', 'source_quote', 'version_basis']\n0 execute_offset 430f6928d4bd9679c8f2ffa17451ab532ccf739a9d80be5ae0100b7098352196 ['disclosed_event_prefix', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'pricing', 'resource_limits', 'source_quote', 'version_basis']\n0 consolidate_netting 43986ec033c9f49b297fb29e13ac10e5834d28c7723ac08ec4b97a89a0545e74 ['disclosed_event_prefix', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'pricing', 'resource_limits', 'source_quote', 'version_basis']\n0 buy_protection 8cb0fd4a90b52afadf7bb583d6db656ddb7920c82deda62ce94a0e79b6f0831e ['disclosed_event_prefix', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'pricing', 'resource_limits', 'source_quote', 'version_basis']\n0 designate_protection cbb2fb3161e49de42b65e73c14cb47d7e2ac2c69247d8aa3c82e9bd6fba0298c ['disclosed_event_prefix', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'pricing', 'resource_limits', 'source_quote', 'version_basis']\n0 repo_allocate 120c605ca4096ebcfbc4a77f080766647e8ccea7c748819ce6ff3e629dbc6a23 ['capital_budget', 'days', 'disclosed_event_prefix', 'equity_hurdle', 'inventory', 'lenders', 'mandate', 'ois', 'own_spread', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'prices', 'pricing', 'requirement', 'resource_limits', 'version_basis', 'year_days']\n0 repay_repo 34a1a05f5477c817ee706ac91e5d4b72bf2e193fdf9a218140565f39211714f9 ['capital_budget', 'days', 'disclosed_event_prefix', 'equity_hurdle', 'inventory', 'lenders', 'mandate', 'ois', 'own_spread', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'prices', 'pricing', 'requirement', 'resource_limits', 'version_basis', 'year_days']\n0 sell_lot 21143ff70d9400ce0a0e6f482ff3052a301b78f39af7c9a0bdb5c6b6cb6ffcef ['defaults', 'disclosed_event_prefix', 'inventory_policy', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'prices', 'pricing', 'resource_limits', 'rights', 'version_basis']\n0 buy_equivalent 68d447d42755a3484994516bd921ddcf273ef2f263d830bacddee0760a038f45 ['defaults', 'disclosed_event_prefix', 'inventory_policy', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'prices', 'pricing', 'resource_limits', 'rights', 'version_basis']\n0 return_collateral c1eadd7888eb33798927ad8c627e0fb5d73fe0f26d40c0de4dd33fd541b6a435 ['defaults', 'disclosed_event_prefix', 'inventory_policy', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'prices', 'pricing', 'resource_limits', 'rights', 'version_basis']\n0 draw_facility 3bb3060572237d55ebef705d104c83fb1ed546381047b5657aebe6fdb8446617 ['day_count', 'disclosed_event_prefix', 'facility_contract_id', 'mandate', 'ois', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'pricing', 'resource_limits', 'source_quote', 'version_basis', 'year_days']\n0 repay_facility f78d6d2f93f03332e993b4f0b41975e789bc391178633469b45d370419e1aa08 ['day_count', 'disclosed_event_prefix', 'facility_contract_id', 'mandate', 'ois', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'pricing', 'resource_limits', 'source_quote', 'version_basis', 'year_days']\n0 meet_margin_call e3a0948e671013edd0f85f18cc8efefc67430fa07f88fb5d74ea7d6c6a36edd5 ['cash_source', 'disclosed_event_prefix', 'mandate', 'no_receipt_authority_from_candidate', 'obligation_projection', 'obligations', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'pricing', 'resource_limits', 'settlement', 'version_basis']\n0 settle_payable 2a8a8dab9dfe3df6a40bec6834e5501576131775459e59ab4f5696e5f23044ac ['cash_source', 'disclosed_event_prefix', 'mandate', 'no_receipt_authority_from_candidate', 'obligation_projection', 'obligations', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'pricing', 'resource_limits', 'settlement', 'version_basis']\n0 liquidate_collateral 5983b0167b003e0bc642a5cb4c3e724c8ed8ee2a67edd8c0c828baab236ea14a ['defaults', 'disclosed_event_prefix', 'inventory_policy', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'prices', 'pricing', 'resource_limits', 'rights', 'version_basis']\n0 reinvest 5402450c32430be497bdf12cc0099fd0e7c55146f716a4e20017e2f37fd4a7f5 ['disclosed_event_prefix', 'mandate', 'ois', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'pricing', 'resource_limits', 'version_basis', 'year_days']\n0 settle_claim 58032ddd980724fcbc4781903411ec820e75dcf1861c90470a10ab4e5bb6597e ['cash_source', 'disclosed_event_prefix', 'mandate', 'no_receipt_authority_from_candidate', 'obligation_projection', 'obligations', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'pricing', 'resource_limits', 'settlement', 'version_basis']\n0 escalate 1eb0fbfaf703a15415a628faab943372a33fce133948c621fe915734109a2506 ['disclosed_event_prefix', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'pricing', 'resource_limits', 'version_basis']\n0 decline e578ebf3bbe33633ae46e720e9fa22295e4416bc48cbfb3cdfe1e8cc3a913fbe ['disclosed_event_prefix', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'pricing', 'resource_limits', 'version_basis']\n1 hold_capital 6c8fabeb826562507299eaaac0f031c8f88eb9271449289cce16080ad40e455a ['disclosed_event_prefix', 'fee', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'pricing', 'resource_limits', 'source_quote', 'version_basis']\n1 execute_csa e6f5f527a3073e8678ec060b30383be5856016e89f5a7aa9eacb3335e42e3b93 ['disclosed_event_prefix', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'pricing', 'resource_limits', 'source_quote', 'version_basis']\n1 substitute_collateral 398383b884ca6fa3e3220961843607e9b23d51434fa5fcdfc82e572a065bc320 ['disclosed_event_prefix', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'prices', 'pricing', 'resource_limits', 'source_quote', 'version_basis']\n1 reverse_substitution a95f6a2dcd42bcaefd04966425f83993a7834288c915eeaff9825ee40595a2eb ['disclosed_event_prefix', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'prices', 'pricing', 'resource_limits', 'source_quote', 'version_basis']\n1 execute_offset f5461c6e4fed4044e8889ee023076dba20cdfe41b98636ff61028cf8cd6fafab ['disclosed_event_prefix', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'pricing', 'resource_limits', 'source_quote', 'version_basis']\n1 consolidate_netting 942128f42903607c9c78899b9419d9b31f4b17a816f03a24aee5e952f419ee8c ['disclosed_event_prefix', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'pricing', 'resource_limits', 'source_quote', 'version_basis']\n1 buy_protection 519960854f3e2dd168c66ff5b6642b41277464b14554cd503055b6360024e70f ['disclosed_event_prefix', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'pricing', 'resource_limits', 'source_quote', 'version_basis']\n1 designate_protection f5a3a498bee5a1db8af4f10a06c024edd1ce76cb913521cf09878f39c815aeaf ['disclosed_event_prefix', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'pricing', 'resource_limits', 'source_quote', 'version_basis']\n1 repo_allocate dad0a080707d04195ab099d16562831d599a3cfd296f6df83077a03976928f56 ['capital_budget', 'days', 'disclosed_event_prefix', 'equity_hurdle', 'inventory', 'lenders', 'mandate', 'ois', 'own_spread', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'prices', 'pricing', 'requirement', 'resource_limits', 'version_basis', 'year_days']\n1 repay_repo eb89b6590e4b4572ff2ad29923515757c33d34f87ff57f770eec62e9adcb98eb ['capital_budget', 'days', 'disclosed_event_prefix', 'equity_hurdle', 'inventory', 'lenders', 'mandate', 'ois', 'own_spread', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'prices', 'pricing', 'requirement', 'resource_limits', 'version_basis', 'year_days']\n1 sell_lot dfd5a5c1d2fd5aab88a9593e024d8e4c6cb910facfc34675ccb52e5c533768a8 ['defaults', 'disclosed_event_prefix', 'inventory_policy', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'prices', 'pricing', 'resource_limits', 'rights', 'version_basis']\n1 buy_equivalent 5e6ae99564e9d1e21aa4b2f41eb2788733ae7b178c85eed26a7e2ff838914b2f ['defaults', 'disclosed_event_prefix', 'inventory_policy', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'prices', 'pricing', 'resource_limits', 'rights', 'version_basis']\n1 return_collateral 62d7add7155cbfdf24037e4ac08340b99adf44e5942d69e715a01cc2a0438c0d ['defaults', 'disclosed_event_prefix', 'inventory_policy', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'prices', 'pricing', 'resource_limits', 'rights', 'version_basis']\n1 draw_facility 660810bf6a10037b562657b5ec470ee81a71ff59f01503482159abf4126cd4c6 ['day_count', 'disclosed_event_prefix', 'facility_contract_id', 'mandate', 'ois', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'pricing', 'resource_limits', 'source_quote', 'version_basis', 'year_days']\n1 repay_facility bb532e8f60963b80c3268ab0bdea2910600fe42c2c4161f984c25f855573d8f6 ['day_count', 'disclosed_event_prefix', 'facility_contract_id', 'mandate', 'ois', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'pricing', 'resource_limits', 'source_quote', 'version_basis', 'year_days']\n1 meet_margin_call a7da26a3023f9f28552b35af4f11fb483f3c78832be49087bd5355a53ce42bfc ['cash_source', 'disclosed_event_prefix', 'mandate', 'no_receipt_authority_from_candidate', 'obligation_projection', 'obligations', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'pricing', 'resource_limits', 'settlement', 'version_basis']\n1 settle_payable de271090c13300d8430e3f99887679b7001396fef9b3103c239882cd5618c194 ['cash_source', 'disclosed_event_prefix', 'mandate', 'no_receipt_authority_from_candidate', 'obligation_projection', 'obligations', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'pricing', 'resource_limits', 'settlement', 'version_basis']\n1 liquidate_collateral e35e2429be14e95808f16c265457e268a10753436bd6c08e017e47f72a6ab4d3 ['defaults', 'disclosed_event_prefix', 'inventory_policy', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'prices', 'pricing', 'resource_limits', 'rights', 'version_basis']\n1 reinvest 3ad1dd6467918d71baa89f017924b0e490273596aa45c34607f4f3f537dc4a94 ['disclosed_event_prefix', 'mandate', 'ois', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'pricing', 'resource_limits', 'version_basis', 'year_days']\n1 settle_claim 9cc32d467bef855e723805ab1762f9f4c2f7b09ae165f0aa3c7a972cdc486dc8 ['cash_source', 'disclosed_event_prefix', 'mandate', 'no_receipt_authority_from_candidate', 'obligation_projection', 'obligations', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'pricing', 'resource_limits', 'settlement', 'version_basis']\n1 escalate 9f6553a7c363921b3d1339e9ba057d565eff131ec37966b82f7a8a5303331148 ['disclosed_event_prefix', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'pricing', 'resource_limits', 'version_basis']\n1 decline f04e44276f0ce03cc5d9127a6e45f94797ad64ba07fb0e27355341933a68d8b9 ['disclosed_event_prefix', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'pricing', 'resource_limits', 'version_basis']\n2 hold_capital 8c81e401e9ef5da1d23101de7605d58a7adc8d2c159577d8e0d2aa9f55a406ea ['disclosed_event_prefix', 'fee', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'pricing', 'resource_limits', 'source_quote', 'version_basis']\n2 execute_csa 6bbb4b6cce9ee4448c0ec3c530e23e79d20b5f8b81928da01920414bfd044942 ['disclosed_event_prefix', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'pricing', 'resource_limits', 'source_quote', 'version_basis']\n2 substitute_collateral 29d0b545daca54c19a74cb4b33359394801672d2876f9c99840334ed5c70d781 ['disclosed_event_prefix', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'prices', 'pricing', 'resource_limits', 'source_quote', 'version_basis']\n2 reverse_substitution 47af8d4a8bcd63e3531a7d6db154dad11d17f0ab7b70c832739a56a90c41a4c6 ['disclosed_event_prefix', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'prices', 'pricing', 'resource_limits', 'source_quote', 'version_basis']\n2 execute_offset 248ce08d0ce850f48bc55b0b1a72a96935efb68d876926d70f7d5d2f8f2a90e9 ['disclosed_event_prefix', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'pricing', 'resource_limits', 'source_quote', 'version_basis']\n2 consolidate_netting 8f8de3e8b90f15b49b43de927d0ffd8a8f127c02742742bd61e2e7bd07cc8abf ['disclosed_event_prefix', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'pricing', 'resource_limits', 'source_quote', 'version_basis']\n2 buy_protection 48f93059156725e09943b69a5544080e6f8caa0b8847b9f4a0af939cc802047e ['disclosed_event_prefix', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'pricing', 'resource_limits', 'source_quote', 'version_basis']\n2 designate_protection 7e4890d25b43fac860366abada9eca606cb2eff4245f96d7824d35669d7b9746 ['disclosed_event_prefix', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'pricing', 'resource_limits', 'source_quote', 'version_basis']\n2 repo_allocate b064cc2bbe3a66ba9b4e30c72dcf50cbb6276567a8bd84951999d1774ac787c4 ['capital_budget', 'days', 'disclosed_event_prefix', 'equity_hurdle', 'inventory', 'lenders', 'mandate', 'ois', 'own_spread', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'prices', 'pricing', 'requirement', 'resource_limits', 'version_basis', 'year_days']\n2 repay_repo ad84363cde45ae7c23835aab65a6e9bf7ffa260e5d321878984fcab65ded4f63 ['capital_budget', 'days', 'disclosed_event_prefix', 'equity_hurdle', 'inventory', 'lenders', 'mandate', 'ois', 'own_spread', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'prices', 'pricing', 'requirement', 'resource_limits', 'version_basis', 'year_days']\n2 sell_lot 99fecbb4c5813198871a06f96ba3ebb8fa2293ccb1489766b965c54cbd5684b2 ['defaults', 'disclosed_event_prefix', 'inventory_policy', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'prices', 'pricing', 'resource_limits', 'rights', 'version_basis']\n2 buy_equivalent e6a7d72e0a4af4c95f4a15bb6b704c7ea16c5cb40419024c23f84ede12099e3a ['defaults', 'disclosed_event_prefix', 'inventory_policy', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'prices', 'pricing', 'resource_limits', 'rights', 'version_basis']\n2 return_collateral 1f92e0dbb907399a60b51c9ff1ddcf7027bda17244e8552c18c486404e867c73 ['defaults', 'disclosed_event_prefix', 'inventory_policy', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'prices', 'pricing', 'resource_limits', 'rights', 'version_basis']\n2 draw_facility c8ceebdb19c8e0b1da92e22b51b06ddbabe5afc8e573ea939045a098adce34cd ['day_count', 'disclosed_event_prefix', 'facility_contract_id', 'mandate', 'ois', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'pricing', 'resource_limits', 'source_quote', 'version_basis', 'year_days']\n2 repay_facility 11473efa81dd9ed7e48832085ecfca01842fc9fe7495f299465fd49573a4b983 ['day_count', 'disclosed_event_prefix', 'facility_contract_id', 'mandate', 'ois', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'pricing', 'resource_limits', 'source_quote', 'version_basis', 'year_days']\n2 meet_margin_call ba8a181381292fe5d67181cd4dacae48694ba27a018a95865e239b1b3753adbd ['cash_source', 'disclosed_event_prefix', 'mandate', 'no_receipt_authority_from_candidate', 'obligation_projection', 'obligations', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'pricing', 'resource_limits', 'settlement', 'version_basis']\n2 settle_payable 35324322604dd115cb8a5a96df81de5e0e9fa7c8dc10a650087ea8943afe98fb ['cash_source', 'disclosed_event_prefix', 'mandate', 'no_receipt_authority_from_candidate', 'obligation_projection', 'obligations', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'pricing', 'resource_limits', 'settlement', 'version_basis']\n2 liquidate_collateral 00b219e0403d6ce5038ea8253382b672612d1410d177046eafb0479c1d14566b ['defaults', 'disclosed_event_prefix', 'inventory_policy', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'prices', 'pricing', 'resource_limits', 'rights', 'version_basis']\n2 reinvest cbcdeeb33708b511c114aedbab973282d6c72d2d1313ee8c27293d2d5e452867 ['disclosed_event_prefix', 'mandate', 'ois', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'policy', 'pricing', 'resource_limits', 'version_basis', 'year_days']\n2 settle_claim 6bf76506485bd85f9df6e3213930d01bdf11923b4c4e946e7701c95869762bef ['cash_source', 'disclosed_event_prefix', 'mandate', 'no_receipt_authority_from_candidate', 'obligation_projection', 'obligations', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'pricing', 'resource_limits', 'settlement', 'version_basis']\n2 escalate dab8a276803b16428f17d736640ecba2c6f08d62ffa9a602e1ad815f50dde6b5 ['disclosed_event_prefix', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'pricing', 'resource_limits', 'version_basis']\n2 decline a14babc4f668be03ea5534addc7499a62a9d1c8a1ed0aa2e3aedf13db9b6d259 ['disclosed_event_prefix', 'mandate', 'phase_legal', 'phase_market', 'phase_prefix_digest', 'pricing', 'resource_limits', 'version_basis']\n\nSTATE structures\ncontracts dict 7\n{'DEP_LOAN': {'effective_date': '2027-06-05', 'execution_date': '2027-06-05', 'id': 'DEP_LOAN', 'kind': 'deployment_loan', 'maturity_date': '2032-06-05', 'payment_dates': ['2027-09-05', '2027-12-05', '2028-03-05', '2028-06-05', '2028-09-05', '2028-12-05', '2029-03-05', '2029-06-05', '2029-09-05', '2029-12-05', '2030-03-05', '2030-06-05', '2030-09-05', '2030-12-05', '2031-03-05', '2031-06-05', '2031-09-05', '2031-12-05', '2032-03-05', '2032-06-05'], 'source_evidence': [{'document_id': 'SYNTHETIC_PACKET', 'locator': 'fictional-executed-agreements'}], 'state': {'concession_spread': '0', 'concession_start_date': None, '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', 'payment_dates': [], '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_\nlots dict 54\n{'DEPSEC': {'book_value': '990009000', 'class': 'deployment_collateral', 'correlation': False, 'coupon_spread': '0.0455411592', 'encumbrance': 'DEP_SECURITY', 'enforceability': 'effective', 'id': 'DEPSEC', 'instrument_id': 'DEPSEC', 'issued': True, 'issuer_id': 'CELADON', 'issuer_kind': 'corporate', 'location': 'CUST_DEP', 'maturity_date': '2032-06-05', 'owner': 'BORROWER', 'quantity': '990009000', 'rating': 'BB', 'return_obligation': 'identical', 'reuse_permitted': False, 'source_evidence': [{'file': 'worker/legal-terms.txt', 'locator': 'actual-deployment-terms'}, {'file': 'worker/docs/desk-runtime-contract.md', 'locator': '## Clock and settlement order'}]}, 'L1': {'book_value': '118801080', 'class': 'allocation_inventory', 'correlation': False, 'coupon_spread': '0', 'encumbrance': None, 'enforceability': 'effective', 'id': 'L1', 'instrument_id': 'L1', 'issued': True, 'issuer_id': 'FUND_01 allocation issuer L1 series 1', 'issuer_kind': 'other', 'location': 'DESK_INVENTORY', 'maturity_date': '2032-06-05', 'owner': 'MERIDIAN', 'quantity': '118801080', 'rating': 'AAA', 'return_obligation': None, 'reuse_permitted': True, 'source_evidence': {'file': 'docs/exhibit-fields.md', 'locator': 'fictional-actions'}}, 'L2': {'book_value': '108900990', 'class': 'allocation_inventory', 'correlation': False, 'coupon_spread': '0', 'encumbrance': None, 'enforceability': 'effective', 'id': 'L2', 'instrument_id': 'L2', 'issued': True, 'issuer_id': 'FUND_01 allocation issuer L2 series 1', 'issuer_kind': 'other', 'location': 'DESK_INVENTORY', 'maturity_date': '2032-06-05', 'owner': 'MERIDIAN', 'quantity': '108900990', 'rating': 'AAA', 'return_obligation': None, 'reuse_permitted': True, 'source_evidence': {'file': 'docs/exhibit-fields.md', 'locator': 'fictional-actions'}}, 'S01': {'book_value': '792007.2', 'class': 'allocation_inventory', 'correlation': False, 'coupon_spread': '0', 'encumbrance': None, 'enforceability': 'effective', 'id': 'S01', 'instrument_id': 'S01', 'issued': True, 'iss\nobligations dict 0\n{}\npending list 0\n[]\n\n\nSTATUS:\nFinished normally at 2026-09-20T09:43:08Z (elapsed=0.07s)","tool_call_id":"call_0a39ae848f30545b9d01b6c394d66230","type":"tool_result"}},{"step":6,"generation":0,"created_at":"2026-09-20T09:44:05.472Z","event":{"stop_reason":"tool_calls","tool_calls":[{"id":"call_ccda5cc4d3a95e0e87b588d7aa0fe29f","name":"spawn_agent","arguments":"{\"task\":\"Focused parallel analysis (read-only main packet and shared working inputs). Current desk packet /packet/packet.json is authority. Full docs extracted to /work/data/artifacts/qyaws7fs/documents and state/policy/parameters/case/family/quotes JSON there. Determine exact current-parent rates and credit_xva calculations per complete schemas/daily-report.schema.json, source citations DAILY_FUNDING/CREDIT/PROTECTION in docs, not practice calculator. Study funding linear spread position, drawn vs committed, remaining tenor, replacement quote matching, provider protection economically vs regulatorily. Produce JSON fragment {rates,credit_xva} into /work/data/artifacts/qyaws7fs/funding_credit_sections.json plus concise derivation notes; do not edit final envelope or execute actions. Check receipts if helpful. Tell me quickly about pitfalls or missing evidence; calculate all fields with Decimal. Do not invent current curves/CDX or CLO. Prior trades inherited not ours.\"}"},{"id":"call_e9c340612d5c5254b3e5b677324df38f","name":"spawn_agent","arguments":"{\"task\":\"Focused parallel analysis, only own artifact files. Current authority /packet/packet.json; docs and section snapshots at /work/data/artifacts/qyaws7fs. Derive exact capital and liquidity current-parent report sections per COMPLETE documents/schemas/daily-report.schema.json, with exact DAILY_CAPITAL/ALLOCATION/LIQUIDITY citations. Need SA-CCR, RWA, Tier1 AVA, allocation optimization/public rubric, inventories 54 lots, surviving obligations/receipts. No practice calculator live valuation, no executing trades. Produce /work/data/artifacts/qyaws7fs/capital_liquidity_sections.json containing {capital,liquidity} plus calculation notes. Advise recommended actions/capital constraints, but never edit envelope. Coordinate with accounting if necessary through me. Current has time .241847826 and inherited receipted book, zero current accepted actions.\"}"},{"id":"call_bf80173a1ce75210b1a6292b6a8794b6","name":"spawn_agent","arguments":"{\"task\":\"Focused parallel accounting reconciliation. Packet /packet/packet.json authority; extracted documents and state/parameters/policy in /work/data/artifacts/qyaws7fs. Read complete report schema docs/schemas/daily-report.schema.json and relevant accounting docs. Derive current-parent accounting section including revaluation postings, statutory/management bridges, attribution and terminal fields with exact DAILY_RECOGNITION/ATTRIBUTION citations. Reconcile prior receipts /work/receipts; opening trades inherited, not ours. Produce /work/data/artifacts/qyaws7fs/accounting_section.json {accounting:...} plus clear derivation notes. No executing actions, no practice calculator live book, no editing main final envelope. Need exact values Decimal per docs and zero trial balances.\"}"},{"id":"call_67a50e88062d582795ce988df5f8a6f6","name":"spawn_agent","arguments":"{\"task\":\"Independent legal/compliance/structure and action recommendation review (focused, read-only). Packet /packet/packet.json authority; full documents extracted /work/data/artifacts/qyaws7fs/documents, snapshot case/family/parameters/policy/state/quotes. Read full schema institutional sections and exact evidence premises. Determine viable current-day actions serving firm/client throughout obligations, likely hold vs approval capital levers. No actions executed. Draft strict sections {legal,compliance,structure,recommendation} per schema into /work/data/artifacts/qyaws7fs/institutional_sections.json with entailed citations and actual supported client outcome. Recommendation rationale <=2000 chars must connect inherited funding locked price remaining tenor, drawn vs committed, idle carry/replacement matching, collateral flexibility, linear funding gains widening/loss tightening vs negative duration and separate risky deployment, no invented CDX/CLO. Identify binding constraint and decision-changing fact, compare quoted alternatives after costs capital margin etc. Do not edit envelope. Send concise pitfalls/action suggestion early.\"}"}],"type":"assistant","usage":{"prompt_tokens":20383,"completion_tokens":803,"total_tokens":21186,"cache_read_tokens":12458}}},{"step":6,"generation":0,"created_at":"2026-09-20T09:44:05.473Z","event":{"content":"Spawned sub-agent \"chill-tiger\" (type=standard_agent) at 2026-09-20T09:44:05Z for task: Independent legal/compliance/structure and action recommendation review (focused…","tool_call_id":"call_67a50e88062d582795ce988df5f8a6f6","type":"tool_result"}},{"step":6,"generation":0,"created_at":"2026-09-20T09:44:05.478Z","event":{"content":"Spawned sub-agent \"tame-bison\" (type=standard_agent) at 2026-09-20T09:44:05Z for task: Focused parallel analysis (read-only main packet and shared working inputs). Cur…","tool_call_id":"call_ccda5cc4d3a95e0e87b588d7aa0fe29f","type":"tool_result"}},{"step":6,"generation":0,"created_at":"2026-09-20T09:44:05.481Z","event":{"content":"Spawned sub-agent \"balmy-sheep\" (type=standard_agent) at 2026-09-20T09:44:05Z for task: Focused parallel accounting reconciliation. Packet /packet/packet.json authority…","tool_call_id":"call_bf80173a1ce75210b1a6292b6a8794b6","type":"tool_result"}},{"step":6,"generation":0,"created_at":"2026-09-20T09:44:05.484Z","event":{"content":"Spawned sub-agent \"lofty-squid\" (type=standard_agent) at 2026-09-20T09:44:05Z for task: Focused parallel analysis, only own artifact files. Current authority /packet/pa…","tool_call_id":"call_e9c340612d5c5254b3e5b677324df38f","type":"tool_result"}},{"step":7,"generation":0,"created_at":"2026-09-20T09:44:57.647Z","event":{"stop_reason":"tool_calls","tool_calls":[{"id":"call_91de6ab571e7539aaa7d4712e2048e45","name":"edit_file","arguments":"{\"path\":\"/work/data/artifacts/qyaws7fs/plan.md\",\"edits\":[{\"old_text\":\"\",\"new_text\":\"# Current checkpoint work plan\\n\\nAuthority: /packet/packet.json, parent 6d1645a487425409f4da8db6aa0d4fcaab93ce7b8516b65ce41eaaf60d2ad165; as-of 2027-09-02, day/revision/market/legal versions 0. Final is /work/artifacts/envelope-1473cecfb1a94437b899c2097f06b7ff.json, no submission.\\n\\n1. Understand complete daily-book.v2 schema, runtime envelope/action contract, all authoritative evidence and inherited receipts.\\n2. Parallel exact financial reconciliation: funding/credit (tame-bison), capital/liquidity (lofty-squid), accounting (balmy-sheep), institutional and alternatives (chill-tiger). Only scratch artifacts shared, no concurrent edits of final.\\n3. Parent independently reviews executable phase quotes and client obligations; picks supported decision(s) without inventing trades/rights or receiving cash by assertion.\\n4. Assemble current-parent calculations, unique quote-bound actions and evidence. Cross-check accounting, signed funding sensitivity, legal restrictions, and available funding liquidity.\\n5. Validate strict JSON schema, current version/hash/phase/quote bindings, source citations, report numeric identities, UTF-8 and <=1048576 bytes. Atomic durable write. Stop after file exists; do not execute or submit.\\n\\nImportant: inherited opening trades are not chosen now. Quotes don't override title or mandates. Empty actions won't advance. Current parameters fix curves and permitted instruments. Bilateral VM/IM collateral is not income; economic protection differs from regulatory recognition. Recommendation compares keeping inherited mismatch to only genuinely available routes, with costs and surviving duties.\\n\"}]}"}],"type":"assistant","usage":{"prompt_tokens":21421,"completion_tokens":447,"total_tokens":21868,"cache_read_tokens":20381}}},{"step":7,"generation":0,"created_at":"2026-09-20T09:44:57.648Z","event":{"content":"Created /work/data/artifacts/qyaws7fs/plan.md (11 lines).\n+ # Current checkpoint work plan\n+ \n+ Authority: /packet/packet.json, parent 6d1645a487425409f4da8db6aa0d4fcaab93ce7b8516b65ce41eaaf60d2ad165; as-of 2027-09-02, day/revision/market/legal versions 0. Final is /work/artifacts/envelope-1473cecfb1a94437b899c2097f06b7ff.json, no submission.\n+ \n+ 1. Understand complete daily-book.v2 schema, runtime envelope/action contract, all authoritative evidence and inherited receipts.\n+ 2. Parallel exact financial reconciliation: funding/credit (tame-bison), capital/liquidity (lofty-squid), accounting (balmy-sheep), institutional and alternatives (chill-tiger). Only scratch artifacts shared, no concurrent edits of final.\n+ 3. Parent independently reviews executable phase quotes and client obligations; picks supported decision(s) without inventing trades/rights or receiving cash by assertion.\n+ 4. Assemble current-parent calculations, unique quote-bound actions and evidence. Cross-check accounting, signed funding sensitivity, legal restrictions, and available funding liquidity.\n+ 5. Validate strict JSON schema, current version/hash/phase/quote bindings, source citations, report numeric identities, UTF-8 and <=1048576 bytes. Atomic durable write. Stop after file exists; do not execute or submit.\n+ \n+ Important: inherited opening trades are not chosen now. Quotes don't override title or mandates. Empty actions won't advance. Current parameters fix curves and permitted instruments. Bilateral VM/IM collateral is not income; economic protection differs from regulatory recognition. Recommendation com…\n","tool_call_id":"call_91de6ab571e7539aaa7d4712e2048e45","type":"tool_result"}},{"step":8,"generation":0,"created_at":"2026-09-20T09:46:51.692Z","event":{"stop_reason":"tool_calls","tool_calls":[{"id":"call_955d365d25205f70808010a97c1d3af8","name":"bash","arguments":"{\"max_output_length\":20000,\"command\":\"python - <<'PY'\\nfrom pathlib import Path\\nimport os\\nroot=Path(os.environ['AMPLIO_ARTIFACT_DIR'])/'documents'\\nfor f in root.rglob('*'):\\n if f.is_file():\\n t=f.read_text();print('\\\\n',f.relative_to(root),len(t),len(t.splitlines()))\\n if f.suffix in ['.md','.txt']:\\n for i,l in enumerate(t.splitlines(),1):\\n if l.startswith('#') or 'DAILY_' in l: print(i,l[:250])\\nPY\"}"}],"type":"assistant","usage":{"prompt_tokens":22257,"completion_tokens":149,"total_tokens":22406,"cache_read_tokens":21419}}},{"step":8,"generation":0,"created_at":"2026-09-20T09:46:51.723Z","event":{"content":"STDOUT:\n\n CURRENT_INPUTS.json 143325 1\n\n docs/capital-actions.md 37254 340\n1 # Capital actions, prices and binding constraints\n7 ## Executable terms and timing\n32 ## Matching the funding quote before measuring exposure\n58 ## Funding capital and annual KVA\n101 ## Net NPV definitions\n114 ### Two-way CSA\n136 ### Substitute eligible collateral and reverse it\n153 ### Enforceable same-provider netting\n172 ### Buy P protection, with or without CVA designation\n214 ### Hold\n218 ## Collateral and the client price\n241 ## Whole-book capital and leverage\n264 ## Allocation certificate and feasible capital increase\n287 ## Public module API and diagnostics\n336 ## Source boundary\n\n docs/capital-rulebook.md 81754 876\n1 # Capital rulebook for the back-to-back funding capstone\n11 ## 1. Dated official source register\n36 ## 2. Case annex: facts required before applying a formula\n55 ## 3. SA-CCR\n57 ### 3.1 Measurement order and legal netting\n65 ### 3.2 Expanded exposure formulas\n107 ### 3.3 Primary driver, reference tenor and supervisory delta\n130 ### 3.4 Maturity factor and MPOR\n161 ### 3.5 Supervisory factors and aggregation\n207 ### 3.6 Numbers that isolate the regulatory mechanics\n227 ## 4. Default-risk weighting after SA-CCR\n252 ### 4.1 Source-elected other MDB treatment\n275 ## 5. Comprehensive banking-book collateral\n277 ### 5.1 Eligibility before haircut\n298 ### 5.2 Exposure formula\n313 ### 5.3 Ten-business-day supervisory haircuts\n354 ### 5.4 Scaling and stressed holding periods\n384 ### 5.5 The eligibility cliff and the trading-book repo exception\n402 ### 5.6 Recognised comprehensive SFT netting\n419 ## 6. Guarantees and CDS against P's default risk\n421 ### 6.1 Recognition requires contract and provider qualification\n444 ### 6.2 Currency, maturity and substitution\n475 ### 6.3 Five-year protection against the continuing twenty-year exposure\n505 ### 6.4 CCR, CVA and market-risk eligibility are separate decisions\n513 ## 7. Regulatory CVA capital\n515 ### 7.1 Scope, default method and units\n525 ### 7.2 Reduced BA-CVA, fully expanded\n582 ### 7.3 Full BA-CVA hedge eligibility and formula\n621 ### 7.4 Designation, hedge-provider charge and non-additive relief\n633 ### 7.5 SA-CVA is an approval-gated branch\n666 ## 8. Leverage: whole-book measurement\n668 ### 8.1 Accounting mapping and minimum\n694 ### 8.2 Derivative exposure differs from risk-based SA-CCR\n718 ### 8.3 Written-credit effective notional and full-tenor offset\n739 ### 8.4 SFT leverage\n758 ## 9. Capital ratios and the desk KVA annex\n760 ### 9.1 Official capital quantities\n774 ### 9.2 Explicit synthetic pricing convention\n814 ## 10. AVA boundary\n820 ## 11. Fail-closed input and decision gates\n847 ## 12. Minimum report required from an agent using this exhibit\n\n docs/desk-runtime-contract.md 55313 192\n1 # Settled desk contract\n5 ## Authority and module ownership\n11 ## Public function boundaries\n23 ## Clock and settlement order\n31 ## State and receipts\n53 ## Envelope and atomicity\n59 ## Executable action set\n76 ## Event effects and legal axes\n84 ## Valuation and accounting\n96 ## Daily score\n108 ## Required execution evidence\n112 ## Implementation interfaces and ownership\n138 ### Snapshot builder\n152 ### Exact state vocabulary\n188 ## Explicit scenario windows\n\n docs/economic-specification.md 56199 531\n1 # Economic specification of the funding book\n7 ## 1. Evidence, units and numerical ownership\n22 ## 2. Both legs, including the source of principal\n24 ### 2.1 Contract terms\n52 ### 2.2 Opening cash and statutory balance sheet\n69 ### 2.3 Quarterly return and financing cash\n93 ### 2.4 Year five and year twenty\n108 ## 3. E1: funding benefit, legal value and reference return\n110 ### 3.1 Quote-conditioned valuation\n143 ### 3.2 Reference pricing and numerical anchors\n177 ### 3.3 Exposures are derived, never supplied\n196 ## 4. E4 and the mismatch: distinct curves and basis risks\n217 ### 4.1 Funding spread duration versus contractual loan value\n250 ### 4.2 Collateral price, rating and the two haircut systems\n258 ## 5. E2, E3 and A3: when a funding cost actually exists\n260 ### 5.1 Actual cash deficits, not stock-mark borrowing\n286 ### 5.2 The conditional quadratic experiment and the USD14.5m claim\n308 ### 5.3 Executing a CSA changes rights and cash\n329 ## 6. E5 and A1-A5: two management pots and one P&L\n331 ### 6.1 Sign convention and attribution\n370 ### 6.2 Pot D and the accounting-unit gate\n387 ### 6.3 Pot X, the corrected capital basis and worked time/market panels\n454 ### 6.4 A4: reserve uncertainty and available CET1\n469 ## 7. Capital cost and the defined comparison with UFVA\n512 ## 8. Public recomputation and report boundaries\n\n docs/reference-input-contract.md 17546 110\n1 # Reference input contract\n5 ## Numeric and legal boundaries\n14 ## Supported policy IDs\n43 ## Substitution eligibility\n49 ## Actual-book AVA\n55 ## Default inventory\n73 ## Settlement and quote clock\n80 ## Independent collateral maturity\n85 ## MPOR floor facts\n92 ## Protection recognition facts\n99 ## Leverage recognition facts\n106 ## Conditional quote target\n\n docs/reserve-module.md 38263 415\n1 # Cash, reserves and the statutory bridge\n7 ## 1. What is being measured\n17 ### Execution and solvency limitation\n23 ## 2. Cash and title over the full twenty years\n25 ### Opening and executed funding\n40 ### Quarterly settlement identity\n56 ### Year five and year twenty\n64 ## 3. The two management pots and the P&L identity\n99 ### Pot D: frozen pricing-time release\n111 ### Pot X: recomputed CVA and capital cost\n125 ### Statutory bridge\n137 ## 4. Day-one recognition is tested on the valid unit\n157 ## 5. Scenarios that distinguish the pots\n159 ### 5.1 Base one-year roll\n168 ### 5.2 The divergent-pot shock selected for the accounting report\n188 ### 5.3 Charge-only control\n192 ### 5.4 Actually executed hedge defence\n209 ## 6. Actual cash funding versus conditional quadratic UFVA\n211 ### 6.1 Mark-only move: no actual borrowing\n224 ### 6.2 Reference-credit settlement stress: actual debt\n243 ### 6.3 Separate executed exposure-prefunding experiment\n277 ## 7. AVA: uncertainty, CET1 and the conditional capital-cost link\n323 ## 8. Settlement, not age, closes the final reserve\n345 ## 9. Public calculation and report mapping\n347 ### APIs\n368 ### Stable exported locations\n396 ## 10. Acceptance evidence and rejected shortcuts\n411 ## Official references\n\n fixtures/desk-policy.json 28028 408\n\n schemas/daily-report.schema.json 65635 2481\n\n family/worker/legal-terms.txt 29146 922\n\n\nSTATUS:\nFinished normally at 2026-09-20T09:46:51Z (elapsed=0.03s)","tool_call_id":"call_955d365d25205f70808010a97c1d3af8","type":"tool_result"}},{"step":9,"generation":0,"created_at":"2026-09-20T09:49:22.19Z","event":{"stop_reason":"tool_calls","tool_calls":[{"id":"call_1379afc590b652918b18d88a89ccacf7","name":"view_file","arguments":"{\"path\":\"/work/data/artifacts/qyaws7fs/documents/docs/desk-runtime-contract.md\",\"start_line\":1,\"end_line\":110,\"show_anchors\":false}"}],"type":"assistant","usage":{"prompt_tokens":24068,"completion_tokens":51,"total_tokens":24119,"cache_read_tokens":22255}}},{"step":9,"generation":0,"created_at":"2026-09-20T09:49:22.191Z","event":{"content":"File: /work/data/artifacts/qyaws7fs/documents/docs/desk-runtime-contract.md (showing lines 1-110 of 192)\n 1: # Settled desk contract\n 2: \n 3: This contract specifies the actual daily book, not the seventeen controlled financial report panels. It is a named synthetic desk convention supplementing the dated rulebook. The versions exported by `desk_contract.py` are `desk-state.v3`, `desk-envelope.v2` and `desk-policy.v3`, with no v1 aliases. Report labels remain `daily-book.v2` and `daily-grade.v1`; `worker-packet.v1` is unchanged. The active contract has nine report sections and twelve owners. Implementation and executed evidence are separate. The unchanged build-and-prove protocol records historical methodology, not a practitioner-first block on engineering or model execution.\n 4: \n 5: ## Authority and module ownership\n 6: \n 7: The evaluator owns the family, market path, state, immutable receipts and grading. A protected worker receives the current packet, public conventions and a writable work directory. Calculations are bounded data, never executable artifacts, and cannot change the book. Current `counterparty_constraints`, mandate rules and relevant legal source objects belong in the packet. Generated `accepted_positions`, gold, future external events and private evaluator history do not. The canonical base case and `FUND_01` seed 1 are deliberately declassified public practice, a separate publication boundary.\n 8: \n 9: `desk_ledger.py` owns economic state and accepted transitions. `desk_valuation.py` produces the independently valued book, including actual client outcome. `institutional.py` checks sourced legal findings, mandate decisions, client structure and recommendations for both report paths. `daily_grader.py` reads the submitted report and valued book. `desk_replay.py` independently folds receipt postings and state operations without calling the transition function. `desk_runtime.py` owns SQLite persistence, revisions, receipt chains, packets and CLI. `worker_boundary.py` owns worker launches, restart supervision and boundary probes. These are implementation boundaries, not claims that their acceptance runs passed.\n 10: \n 11: ## Public function boundaries\n 12: \n 13: - `desk_ledger.initial_state(parameters, family) -> {state, receipts}`: generate explicit inception and pre-window contractual receipts, then the servicing-window state. Only this function interprets the disclosed opening endowment.\n 14: - `desk_ledger.quote_board(parameters, family, state) -> list[quote]`: current executable actions, terms, capacity and legal prerequisites; quote ID includes market/legal versions and effective date. No future path.\n 15: - `desk_ledger.settle_day(parameters, family, state, actions) -> {state, receipts, blockers}`: pure transition on a copy. An invalid action batch returns no economic mutation. A successfully settled day increments the calendar once and releases only events now available.\n 16: - `desk_valuation.value_book(parameters, family, state) -> book`: deterministic Decimal financial output. No candidate data, future events, gold or prior candidate ledger. State contains received event effects, not a supplied exposure path.\n 17: - `daily_grader.expected_daily_report(parameters, family, state, book, previous_book=None) -> report`: evaluator-only bounded daily assertions.\n 18: - `daily_grader.grade_daily(parameters, family, state, report, previous_book=None) -> grade`: grade the submitted parent checkpoint before applying its actions or revealing tomorrow. Qualification is separate from twelve fixed-denominator owners. No accepted worker action anywhere in the run means `not_scoreable`, with no score. A first accepted day may retain the opening report for later scoring without comparing it to the post-action book. Invalid candidates receive `candidate_error`; reference or verifier failures receive `UNSCORABLE`; neither has a score. An accurate report of an unsuccessful client outcome can lose O11.\n 19: - `desk_replay.replay_receipts(parameters, family, genesis, receipts) -> state`: independently recompute permitted amounts, paid-obligation identities, titles and capacity from immutable contract/quote/event terms before applying each receipt. Verify sequence, parent hash, balanced postings and unique IDs. It must not call `settle_day`, trust candidate assertions or accept a declared final balance. A balanced duplicate coupon with a fresh receipt ID must fail because its contract-period obligation is already paid.\n 20: \n 21: Internal state and receipts use exact decimal strings at serialization boundaries. Python computation uses Decimal. Hashes cover canonical sorted-key JSON; omit only the hash field itself. State is an economic object, not a report log: submitting a different calculation, an invalid envelope or an atomic rejected action cannot alter its hash.\n 22: \n 23: ## Clock and settlement order\n 24: \n 25: The family supplies `funding_start_date` and `window_start_date`. Event `day`/`available_at` is an integer calendar-day offset from the window start. Original funding and deployment coupons fall on calendar three-month anniversaries of funding inception, preserving end-of-month. Each whole coupon accrues 0.25 contractual years. Within a period, financial time is completed quarters times 0.25 plus 0.25 times elapsed actual days divided by the actual days in that period. This keeps twenty-year/five-year maturities and actual payment dates without treating every observation as a payment. Every later CDS, repo, facility, offset or reinvestment contract stores its own execution/effective date, payment schedule, maturity, accrued stub and business-day convention. Its age and premium dates are not the original funding clock; protection bought midquarter starts its five-year term and accrual at its own execution.\n 26: \n 27: The evaluator derives opening accrual and any paid contractual history from inception; it does not move inception to the servicing window. Newly available dated news and the current day's ordered cash milestones are disclosed in the packet. Authored same-day order is preserved through explicit phases under `desk-event-bindings.md`; coupon-first and debit-first are different histories. A candidate action plan specifies a public phase. Envelope versions are checked once, but live cash, title, obligation balances, legal rights and quote capacity are checked against the staged state at every phase. A failed prior draw cannot fund a later action. A coupon announcement, invoice collection into a restricted correspondent account, licence, market opening or facility permission is not free cash. A missed earlier cutoff cannot be repaired by a later same-day coupon. Due obligations arise from contracts/events independently of candidate rejection; a rejected action cannot invent a payable. No future-day news is used to grade the current parent checkpoint.\n 28: \n 29: The clock cannot be advanced by a worker request other than committing that day's accepted actions. `hold_capital` is an explicit risk decision; it changes no cash and carries the capital profile. An empty action list does not create an accepted worker action. The observation horizon is evaluator configuration, not a worker-visible completion signal. Restarted workers retain the same work volume and current authoritative packet.\n 30: \n 31: ## State and receipts\n 32: \n 33: State fields are closed and versioned: `schema_version`, `family_id`, `day`, `as_of`, `financial_time`, `revision`, `market_version`, `legal_version`, `market`, `legal`, `accounts`, `lots`, `contracts`, `pending`, `obligations`, `accepted_action_ids`, `accepted_action_count`, `applied_event_ids`, `last_receipt_hash`, `last_receipt_sequence`. A public view includes the current state hash. The protected event path and evaluator outputs never enter it.\n 34: \n 35: Accounts are debit-positive trial-balance amounts with an explicit account-kind registry: unrestricted cash, restricted opening cash, restricted collections, retained U, deployment principal and accrued coupons, reinvestment principal, owned inventory, posted VM, unpaid receivables, repo debt, external unsecured debt, sale financing, legacy debt, received VM, return obligations, unpaid payables, claim allowances, contributed equity and named income/expense accounts. Total debits equal total credits. Each financial receipt identifies source/destination, contract, amount, asset/lot identity, economic purpose, available date and settled status.\n 36: \n 37: The management ledger is a separate overlay journal with `funding_mark`, `hedge_asset`, `deferred_management_gain`, `management_XVA` and corresponding mark, deferral, reserve and hedge income accounts. It is posted at each valued checkpoint from old-market roll, current-market remeasurement and accepted-action effects. The statutory journal never acquires these management-only funding assets or liabilities. Independent overlay equity plus the explicit statutory bridge must reproduce statutory equity; no balancing plug is permitted.\n 38: \n 39: Lots carry `id`, `instrument_id`, `quantity`, `owner`, `location`, `encumbrance`, `issued`, `return_obligation`, `reuse_permitted`, `enforceability`, `source_evidence`. Economic recognition does not imply legal title. U is statutorily retained but legally at the funding provider and cannot be sold or pledged again. A contingent issuance promise is not a security; a later issuance has a new identifier and no assumed liquidity.\n 40: \n 41: The actual runtime starts with the source book's cash and paid opening trades, plus the separately disclosed allocation inventory as an owner contribution in kind. The contributed value equals the sum of those source lots' values. It is neither cash nor P&L. Every lot and the equity contribution appear in genesis receipts. This makes the allocation exercise an actual owned inventory rather than spending assets from an unrelated controlled panel. `initial_operating_cash` is a subset of total opening cash; the remainder is restricted under a named mandate. Neither a certificate nor a capital release adds cash.\n 42: \n 43: Receipts contain `id`, `sequence`, `day`, `action_id`, `event_id`, `kind`, `source_evidence`, `terms`, `postings`, `operations`, `previous_receipt_hash`, `hash`. Both identity fields are present and nullable; an action receipt and an event receipt cannot claim each other's identity. `terms` preserves the authenticated immutable input record. `postings` are balanced account deltas. Operations are closed economic changes to lots, contractual states, current market/legal facts and obligations, never a wholesale replacement state. Historical fills, locked financing spread and previous receipts are immutable. Replay validates legal title and cash conservation independently of declared report totals.\n 44: \n 45: `legal.decisions` and `legal.approvals` begin empty and retain accepted institutional history. A decision is `{id,kind,rule_id,subject_id,reason_code,submitted_at,status,source_evidence}`. Its ID is `decision:`, kind is `escalate` or `decline`, and status is `escalated` or `declined`. An approval is `{id,rule_id,subject_id,approver_id,requested_at,effective_at,expires_at,status,used_by,source_evidence}`, with ID `approval:` and status `pending`, `approved`, `declined`, `consumed` or `expired`. `used_by` is null except for the consuming accepted action ID. Dates are ISO strings and evidence retains the authored rule shape.\n 46: \n 47: Decision records are immutable. Pending approvals can become approved, declined or expired; approved approvals can become consumed or expired, not declined. Later changes create new receipts rather than rewriting requests. A pending approval resolves in one of two ways: an authored `approval_response` event for the same rule, subject and approver dated on or after the request moves it to the authored outcome on that event's day under an `event:approval_response` receipt; the scheduled review keeps it pending until then even past `effective_at`, and only catches up, from the following day, a request accepted after that event's phase; with no such event the review applies the rule's constant `approval_outcome` once `effective_at` arrives. Either way `expires_at` is fixed by the request and expiry wins. Approvers are parties; a rule may name the bank or an `internal_function` party (role `credit_committee`, `legal`, `compliance` or `desk_head`), and a rule naming a party absent from the case is a reference error at load. Creating a decision or approval, or changing an approval's status, increments `legal_version`; an identical re-put is a no-op. Approval dates satisfy `requested_at <= effective_at < expires_at`. Source action IDs must be accepted, and replay verifies identities and transitions.\n 48: \n 49: Genesis binds parameter, family, public-policy and event-binding hashes. Closed `accept_action` and `commit_day` operations record accepted IDs, increment revision/day once and derive `as_of`/financial time from the authenticated clock, including a zero-cash hold day. Replay recomputes those fields; it does not trust a replacement-state blob. A semantic receipt checker derives each expected amount/obligation from the bound sources independently of the live transition implementation. Balanced invented debt and repeat payment under a new receipt ID must fail that check.\n 50: \n 51: `last_receipt_sequence` starts at zero in genesis. Each emitted receipt increments it by one and updates `last_receipt_hash`; only the journal may update these derived fields. No candidate operation can assign them. Replay verifies contiguous sequence independently, so pure transitions and persistence require no hidden mutable sequence counter.\n 52: \n 53: ## Envelope and atomicity\n 54: \n 55: The `desk-envelope.v2` envelope contains `schema_version`, `parent_state_hash`, `revision`, `market_version`, `legal_version`, `actions`, `calculations`. Each action has a closed payload, unique `action_id`, public `phase` and bound `quote_id`; the version belongs to the outer envelope, not individual actions. Candidates cannot supply receipts or replace a quote's settlement price. Calculations retain the `daily-book.v2` label and require all nine sections; old five-section reports are invalid, not adapted.\n 56: \n 57: The evaluator commits actions, generated receipts and the new state in one `BEGIN IMMEDIATE` transaction with unique action IDs. Stale parent/version/revision, unknown keys, nonfinite or malformed money, duplicate keys, oversize input, unknown quote and reused action ID reject before execution. A rejected economic batch is atomic; the run's rejection/blocker log is separate from economic state. Qualification can latch a fatal attempted legal/cash/title violation without pretending a rejected transfer occurred. No partial fill is manufactured.\n 58: \n 59: ## Executable action set\n 60: \n 61: 1. `hold_capital`: accept the current risk/capital cost without inventing a gain or cash.\n 62: 2. `execute_csa`: pay the quoted legal/operational price and schedule activation after the quoted business-day delay. Only the evidenced two-way agreement changes margined treatment. Actual VM transfers have separate receipts; RC uses transferred cash, not an unexecuted CSA label. Negative marks require liquidity. VM principal is not P&L.\n 63: 3. `substitute_collateral` and `reverse_substitution`: pay fees, meet custody/enforcement conditions and the effective date; swap actual rights. The quoted deployment yield concession starts only when substitution is effective. Original eligibility can return on reversal. Return obligation and existing reuse must be honoured before changing a lot.\n 64: 4. `execute_offset` then `consolidate_netting`: execute the separately quoted offset trade with its real upfront and future obligations. Consolidation pays its legal fee and changes netting only after the named jurisdiction opinions and novation confirmations arrive at the quoted delay. A master-agreement assertion alone creates no netting.\n 65: 5. `buy_protection` and `designate_protection`: execute the quoted CDS, accrue/pay its premium, preserve its own counterparty exposure and actual expiry. CCR maturity recognition and the economic tail are separate. Designation needs the stated eligible terms; it changes CVA-capital treatment, not premium history. An undesignated hedge retains the disclosed market-risk charge.\n 66: 6. `repo_allocate`: submit an actual whole-lot assignment to the quoted lenders. Recompute issuer concentration, minimum names, pool limits, market haircut, supervisory haircut and capital. Accepted cash arrives with title transfer/encumbrance and repo debt. Duplicate or unavailable lots reject. Repo maturity creates a real repayment/return obligation. Actual cash expense is contractual repo interest and explicit fees only. The static allocation objective's haircut funding and equity-hurdle terms remain disclosed noncash opportunity/capital allocation metrics; owner-contributed lots do not imply haircut borrowing. Never book the objective total as a cash fee.\n 67: 7. `repay_repo`, `sell_lot`, `buy_equivalent`, `return_collateral`: use current quoted prices, quantities and rights. An identical-return obligation forbids outright disposal; equivalent-return permission does not extinguish the obligation. Selling reusable received collateral creates a return liability, not sale profit. Buying an equivalent instrument uses cash and creates a newly identified lot. Returning a lot requires the secured debt's discharge and removes the matching obligation once.\n 68: 8. `draw_facility` and `repay_facility`: only the named, currently committed branch facility, within available limit. Permission is not a draw. Actual cash and debt move together; costs use its quoted unsecured funding spread. Default or legal suspension can remove undrawn capacity without erasing already drawn debt.\n 69: 9. `meet_margin_call`, `settle_payable`, `liquidate_collateral`, `reinvest`, `settle_claim`: act on identified existing obligations. No unknown payee, fabricated amount or unknown asset. Liquidation requires instrument existence, enforcement and an open realization market; default dependence and transfer controls are separate gates. Reinvestment spends actual matured principal at current quoted tenor/spread, not a precommitted year-five renewal.\n 70: 10. `escalate` and `decline`: submit a scoped `rule_id`, permitted `reason_code`, typed `premises` and `rationale` with the normal action/quote/phase fields. Accepted decisions create immutable dated receipts and `legal.decisions` entries, without financial postings. Escalation creates a pending approval resolved under the disclosed rule's approver, outcome, delay and validity period, or by that approver's authored dated response when one exists. A request is not approval. A declined route cannot execute without a new valid mandate or approval; unrelated routes remain available.\n 71: \n 72: Actions are priced by the public current quote board. Scheduled legal effects and payments survive worker restart. Only an obligation created by an already accepted contract or authenticated external event can become overdue and trigger a qualification blocker. A rejected proposed CSA, CDS, repo or sale leaves no fee, principal, return liability or other economic mutation. Cash never silently becomes negative. No risk remedy may manufacture equity.\n 73: \n 74: Mandate rules are scoped by action kind and subject, with tier `permitted`, `requires_approval` or `prohibited` and any stated amount cap. Execution under an approval requires the correct subject/rule, effective date, validity and unused authority; acceptance records consumption. Permission does not override intrinsic title, enforcement, instrument existence, cash, size or capital constraints. `escalate` and `decline` are accepted institutional actions, not no-op stand-ins for a failed trade.\n 75: \n 76: ## Event effects and legal axes\n 77: \n 78: Every authored event payload must map through an explicit, reviewed binding to closed effects, with its source ID. Unsupported `cash_rule`, right/status, settlement kind or contract is a reference failure. No keyword matching of prose. Effect categories are market curve/rating update; opening or closure of realization market; transfer restriction; named legal right status; current committed facility status; issued-instrument transition; contractual payment due; restricted collection receipt; final remittance; identified default; observability evidence; disputed claim recognition/payment; substitution request. News alone does not execute a trade.\n 79: \n 80: At borrower/reference joint default, already-issued same-issuer collateral has the stated conditional liquidation value, including zero where specified. Independent paper does not inherit that zero. A contingent promise cannot be priced from a traded line and cannot be liquidated before issuance. A payment-rights collection can survive borrower default yet remain trapped by transfer controls. Market closure prevents realization even when credit and title are sound. These paths are separate machine facts, not a W-label switch.\n 81: \n 82: A repo-form deployment supplies legal title subject to the stated return obligation; a pledge leaves title with the pledgor. Neither adds a second statutory asset when the repo is a secured lending accounting unit. Reuse requires explicit permission, effective enforcement and an unencumbered current right. Conditional or denied enforcement cannot be inferred effective from a document title.\n 83: \n 84: ## Valuation and accounting\n 85: \n 86: Use the common Decimal primitives and dated rules. The daily legal funding mark uses the matching quote's beta and conversion rate, actual remaining financial tenor, last paid price reset, actual delay to the next price settlement and current unpaid coupon stub. Its clean off-quarter component uses the explicitly quoted fractional-annuity convention; do not claim exact original-date coupon repricing. Exposure is derived from that mark and actual collateral. Current provider CDS drives CVA; current own unsecured bond spread drives actual debt funding. Bond-CDS basis is separately reported and is not substituted for the all-in spread over OIS.\n 87: \n 88: Actual current SA-CCR uses `saccr` with the full legal mark and transferred VM amount, not `funding_capital`'s fully-collateralized clean projection shortcut. A signed CSA with delayed or partial VM does not set collateral equal to value. Future CVA/KVA projections disclose their assumed contractual settlement schedule separately from current exposure. Whole-book capital explicitly maps every new balance-sheet asset: contributed allocation inventory, restricted cash/collections, posted VM, accrued and overdue receivables, purchased equivalents and recognized return liabilities. Their risk weights and leverage inclusion are current worker-readable desk/authority inputs. `wholebook_capital`'s original four-asset mapping cannot silently treat new contributed inventory as free Tier1 equity without its matching asset exposure.\n 89: \n 90: A reserve charge is not a borrowing receipt. Funding drag is accrued on actual outstanding debt. Any explicit exposure-prefunding transaction must show both borrowed cash and its funded asset before a quadratic funding charge is claimed. The actual base and that conditional transaction cannot be added as though both had executed.\n 91: \n 92: Produce statutory and management books with a reconciled bridge. The retained-U funding unit has no second statutory derivative. Management clean gain, gross inception deferral and CVA/KVA reserves are shown separately. Deferral uses frozen inception inputs and a disclosed time/observability trigger; reserve theta is repricing at the old market after clock roll, reserve MTM is the difference from that rolled old-market value, and action release is separated from both. Hedge cash/premium/mark and actual cash funding drag have their own lines. Each attribution equals the independently posted journal's equity movement, with owner contributions excluded from P&L.\n 93: \n 94: Prudent valuation applies only to identified recognised fair-value exposures and supplied uncertainty evidence. No mechanical AVA is invented merely because a management reserve grew. Show the separate CET1 deduction and the replacement-equity/KVA consequence where the actual identified exposure supports it. Scheduled maturity removes only paid/closed obligations. Unpaid claims, collateral returns and allowances survive the date until receipt-backed settlement or evidenced discharge.\n 95: \n 96: ## Daily score\n 97: \n 98: There are twelve owners with weights 7, 7, 10, 7, 8, 7, 6, 8, 10, 10, 10 and 10, totalling 100. Required report sections are `rates`, `credit_xva`, `capital`, `liquidity`, `accounting`, `legal`, `compliance`, `structure` and `recommendation`. The daily report remains `daily-book.v2`, distinct from the controlled static report `back_to_back_funding_book.v1r2`. The historical eight-owner weights and matrices remain evidence for their original versions only.\n 99: \n 100: O1 checks legal roles, current funding mark, source of cash, remaining tenors, contractual deployment spread and title. O2 checks independent CDS/bond drivers, CVA, debt-funded UFVA and noncash/debt distinction. O3 checks actual SA-CCR, collateral eligibility/haircut/maturity recognition and capital. O4 checks executed protection, regulatory recognition, designation and uncovered tail. O5 checks real quotes/capacity, current inventory allocation and action cost. O6 checks instrument existence, accessible cash and deadline shortfalls. O7 checks accounting unit, observability and deferral. O8 checks reserve attribution, independent journals, funding drag, AVA and outstanding terminal claims.\n 101: \n 102: O9 checks sourced legal conclusions and conditions. O10 checks the scoped mandate decision and current approval status. O11 checks the actual client outcome, including delivery, deadline, executable legal form, classification, return duties, required approvals, borrowing ceiling, contractual spread and bank viability. O12 checks the selected recommendation, binding constraint and alternatives against conclusion-specific support. `institutional.report_properties()` supplies the four schema sections; `grade_sections()` checks the report independently of the reference answer from `expected_sections()`. Supported alternatives can pass without matching reference wording or a whole premise list.\n 103: \n 104: Institutional premises identify `source`, RFC6901 `pointer`, `relation` and `value`. Relations are `eq`, `ne`, `gte`, `lte` or `contains`; source is `case`, `state`, `book` or `report`. Financial values are Decimal strings. Authenticated case/state/book facts provide authority. A report assertion cannot authenticate itself, and an unrelated true fact cannot support a conclusion. Rationales remain free explanation; neither length nor keywords determine the grade.\n 105: \n 106: Fatal legal/cash/title/ineligible-mitigation/fabricated-capacity errors disqualify independently of dense score. An accurate report of a rejected proposal is not an executed violation, but accurately reporting an unsuccessful client outcome does not earn O11. Missing evidence cannot earn an owner. A no-action run is not scoreable. The run result retains the final replay-valued book and elapsed-day-weighted owner history; later recovery cannot erase earlier unsuccessful or missing checkpoints. The static controlled KEEP proposal is not used to declare the capital-deficient live base viable.\n 107: \n 108: ## Required execution evidence\n 109: \n 110: After the family static gate: exercise all accepted action kinds, stale/duplicate/unknown quote refusals, atomic rejection, illegal reuse/double sale/double pledge/phantom cash refusals, no-action refusal, calculations-only state invariance, action-history dependence at the same final market, real restart with persistent work, independent receipt replay, every authored event binding and legal axis, deadline before later receipt, year-five reinvestment and year-twenty unresolved settlement. Grade each isolated daily-owner mutation and retain its matrix. Container canaries must exercise actual denied reads/network, not a Docker-argument inspection alone. Runtime and static financial audit receipts retain their distinct scopes.\n","tool_call_id":"call_1379afc590b652918b18d88a89ccacf7","type":"tool_result"}},{"step":10,"generation":0,"created_at":"2026-09-20T09:52:15.547Z","event":{"stop_reason":"tool_calls","tool_calls":[{"id":"call_765e117207f7542a9bb4805b775c2f4f","name":"view_file","arguments":"{\"path\":\"/work/data/artifacts/qyaws7fs/documents/docs/desk-runtime-contract.md\",\"start_line\":112,\"end_line\":192,\"show_anchors\":false}"}],"type":"assistant","usage":{"prompt_tokens":30006,"completion_tokens":51,"total_tokens":30057,"cache_read_tokens":24066}}},{"step":10,"generation":0,"created_at":"2026-09-20T09:52:15.549Z","event":{"content":"File: /work/data/artifacts/qyaws7fs/documents/docs/desk-runtime-contract.md (showing lines 112-192 of 192)\n 112: ## Implementation interfaces and ownership\n 113: \n 114: The historical family static gate in `evidence/build-and-prove/families-03/evidence/family-audit.json` records 64 generated roots/golds/identity matrices and 32 reseeds under the earlier contract. It is not current twelve-owner, runtime or statistical-independence evidence. A generated root contains `family.json`, `fixtures/numerical-inputs.json` and the selected case. Bindings remain evaluator-owned under the source bundle's `fixtures/event-bindings/`.\n 115: \n 116: `desk_contract.py` owns exact-decimal serialization, canonical hashing, calendar functions, closed state/envelope/receipt shapes and the journal primitive. `desk_ledger.py` owns opening receipts, atomic orchestration and checkpoint postings. `desk_events.py` owns authored effects, dated approval transitions and scheduled obligations. `desk_actions.py` owns quotes, scoped mandate checks and accepted-action economics. `desk_valuation.py` owns valuations and management overlays; its `client_outcome` comes from the shared pure institutional helper. `desk_replay.py` owns independent semantic replay. `daily_grader.py` owns the nine-section daily report and financial owner checks, consuming shared O9-O12 semantics. `desk_runtime.py` owns persistence and CLI. Main integrates and runs verification after writers finish.\n 117: \n 118: All of these files live under `src/`. Common helpers are `D(value)`, `serial(value)`, `canonical(value)`, `state_hash(state)`, `add_months(date, months)`, `financial_time(family, date)` and `as_of(family, day)`. `CandidateError` is a data/structural refusal; `ActionError` contains a stable refusal code and optional fatal blocker. Missing or inconsistent evaluator inputs raise `ReferenceError`. A complete validated source context is `context = {parameters, family, case, bindings, policy}`; the runtime obtains it with `load_context(family_root, source_root)`. Neither that object nor a source path supplied by a worker is a public worker capability.\n 119: \n 120: The loader computes `policy.source_binding` from the raw public policy, generated input files and required rule-document bytes. This derived object contains relative source identities and hashes, never evaluator filesystem paths. An authored policy cannot supply that reserved field. The raw policy hash excludes this loader-generated binding to avoid recursive hashing. The context remains the five-key object above; candidate packets cannot override its source manifest.\n 121: \n 122: Internal state is plain JSON-compatible data; monetary quantities remain decimal strings between modules. `accounts`, `lots`, `contracts` and `obligations` use stable identity keys. Accounts are signed debit-positive balances. Their closed prefixes identify statutory assets, liabilities, equity, income, expense or management-only overlay. `pending` is an ordered array of accepted dated effects. `legal.rights` is keyed by right, scope and collection identity; it cannot turn scoped permission into general permission. `legal` also holds decisions, approvals, transfer status, observability, facility status and irreversible default facts. `market` retains the authored curves, own CDS, role-specific rating labels and realization-market status. Opening incremental curve moves are explicitly zero by convention; required spreads and ratings still come from source inputs.\n 123: \n 124: A journal is `Journal(state)` with mutable `.state` and generated `.receipts`. `emit(kind, postings, operations, source_evidence, *, action_id=None, event_id=None, terms=None)` verifies debit/credit conservation, applies closed operations, chains a canonical hash and appends one immutable receipt. `postings` is an account-to-signed-decimal dictionary. `terms` is an immutable quoted/contract/event input record, not candidate-declared settlement truth. Operations may change a named lot, contract, obligation, current market/legal fact or accepted/clock field; they cannot replace the entire state. The journal enforces structure and conservation, while action/event handlers enforce economic eligibility. The replay verifier derives permitted economics separately; calling the same handler to reproduce a receipt is prohibited.\n 125: \n 126: Operations use the discriminator `op`. A journal may retain staging metadata `.parent_state`, `.parent_state_hash`, `.parent_revision`, `.parent_market_version`, `.parent_legal_version`, `.phase`, `.action_quotes` and `.blockers`. None is an additional economic state field or a candidate capability. Any `.sequence_start` is derived from `state.last_receipt_sequence`, never supplied as independent authority. The derived source binding may include `documents: {logical_id: {sha256, text}}` for exact reviewed citation spans. These documents must be hash-checked. Only spans actually made available to the worker can support a scored citation.\n 127: \n 128: Events export `load_bindings(source_root, family)`, `visible_events(context, day)`, `day_phases(context, state)`, `apply_event(context, journal, event)` and `settle_scheduled(context, journal, phase)`. Actions export `quote_board(context, state)` and `apply_action(context, journal, action)`. Actions include `phase`, `action_id`, `kind`, and `quote_id` where priced; each kind has a closed payload. Ledger exports `initial_state(parameters, family, *, context)`, `quote_board(parameters, family, state, *, context)` and `settle_day(parameters, family, state, actions, *, context)`. These retain the financial signatures above while making source context explicit. A successful result includes `state`, `receipts`, `blockers` and `accepted`; an atomic refusal returns the unchanged economic state and no receipts. Empty actions are calculation-only and cannot advance the clock. A hold is an accepted action.\n 129: \n 130: The current day's complete available event sequence and phase IDs are public. The action quote board binds the parent revision and each quoted phase's disclosed market/legal inputs. Cash, title and remaining capacity are checked again against the staged state when an action executes. Scheduled receipts respect authored ordering and period-specific overrides. Settlement processes only the current day's disclosed phases, then increments day once and publishes tomorrow's available packet. Publication alone does not receive cash. No future-day event may influence today's action eligibility or quoted capacity.\n 131: \n 132: Valuation exports `value_book(parameters, family, state, *, context)` and `checkpoint_overlay(parameters, family, previous_state, state, *, context)`. The latter returns explicit target overlay balances and an attribution independently tied to those balances; ledger emits the checkpoint postings. Valuation must not import action/event/ledger transition handlers. Current statutory totals, management totals and their bridge remain separate. Replay may use common pricing primitives and the pure valuation module, but cannot import `desk_ledger`, `desk_actions` or `desk_events` transition handlers. It independently verifies receipt sources, amounts, unique economic obligations, legal gates, operations and chain before comparing the final valued book.\n 133: \n 134: Daily grading exports `expected_daily_report(parameters, family, state, book, previous_book=None, *, context)` and `grade_daily(parameters, family, state, report, previous_book=None, *, context)`. Reports retain `schema_version=\"daily-book.v2\"`, `parent_state_hash`, nine required sections and current source support. Grades retain `daily-grade.v1`. Financial fields are owned separately; O9-O12 check institutional conclusions through `institutional.py`. The runtime grades the parent checkpoint, not the returned next-day state. A provisional opening grade is not a scoreable run until an actual worker action is accepted. A rejected action may retain a truthful parent report without pretending execution. Missing/rejected checkpoint credit is not dropped from the fixed observation denominator.\n 135: \n 136: Runtime commands are `init`, `packet`, `submit`, `replay` and `result`, with explicit family/source roots, database path and bounded input/output paths. The database stores source hashes, genesis, state, receipts, accepted-action uniqueness, rejected attempts, parent-checkpoint grades and actual client-outcome history. A single SQLite transaction covers an accepted envelope. Protected packets contain current state, quotes, available events/bindings, prior accepted receipts, public constraints, mandate and conventions/calculator. They exclude generated reference positions, gold, grade diagnostics, future external events, evaluator paths and the observation-stop horizon. The Modal bridge copies only the curated packet and bounded candidate output.\n 137: \n 138: ### Snapshot builder\n 139: \n 140: `desk_snapshot.py` is the one seam above `init` and `submit` that turns a desk path into a static case (ADR-0001). `build(family_root=, source_root=, script_path=, day=, output=, engine_root=None, node=\"node\")` and the CLI `build --family-root R --source-root S --script script.json --day N --output DIR [--engine-root E]` open a `DeskRuntime` in a temporary database, submit one envelope per scripted day, and freeze the day-N result under `DIR`. The frozen root is never appended to; `DIR` must not exist.\n 141: \n 142: The script is `{\"schema_version\": \"desk-snapshot-script.v1\", \"days\": [batch, ...]}` with exactly N batches. A batch is `{\"actions\": [...], \"calculations\": object|null}`; `actions` is nonempty because an empty action list is calculation-only and never advances the clock, so a pure prefix uses `hold_capital`. A scripted action carries `kind`, `action_id`, its closed payload, and optionally `phase` and `quote_terms` (a subset of the quote's `terms`); `quote_id` is never scripted because quote ids embed the parent revision and versions. The builder resolves each action against the current quote board by kind, then phase, then term subset, taking the earliest phase. Every batch must settle as `accepted` and advance exactly one day; a refusal, `settled_prefix` or `calculations_recorded` aborts the build with `SnapshotError` and no output.\n 143: \n 144: The frozen root is the `export_practice` layout plus the snapshot artifacts: byte copies of the static schemas, rule documents, `docs/exhibit-fields.md`, `fixtures/numerical-inputs.json`, `worker/legal-terms.txt` and `worker/docs/desk-runtime-contract.md` from the family root and `fixtures/desk-policy.json` from the source root; `worker/packet.json`, the day-N packet with every receipt page concatenated (`receipt_window.after_sequence` 0, `has_more` false; this file is not bounded by `max_packet_bytes`); `fixtures/case-exhibits.json`, one case whose `episode_id` is the family branch (one of the five static case ids, which is how the static grader selects it), whose public keys are verified identical to the packet's `public_inputs.case`, carrying the static-schema tables the family case already carries, plus the `RECEIPT_LOG` document and `snapshot: {day, parent_state_hash, run_prefix_hash}` where `run_prefix_hash` is `state.last_receipt_hash`; `docs/receipt-log.md`, one anchored section per receipt id whose summary line is the locator quote and whose body is the canonical receipt; and `snapshot-manifest.json` with the script digest and content hashes. `family.json`, `binding-manifest.json`, `fixtures/expected-reports.json` and `fixtures/mutation-fixtures.json` are excluded. The static validator requires `snapshot` and `RECEIPT_LOG` to appear together; cases without either validate unchanged.\n 145: \n 146: Determinism: two builds of the same roots, script and day are byte-identical. The packet's `run_id` (a UUID minted at `init`) is replaced by the first 32 hex digits of SHA-256(canonical script, parent_state_hash); attempt and run timestamps stay in the discarded temporary database; receipts carry no wall-clock fields; all generated JSON is written with sorted keys.\n 147: \n 148: Grader-only refusal: before any path is created, the builder scans the family's public surface (the case's public keys and `worker/*.json`) and every JSON value it would write for the union of the worker boundary's forbidden keys, the probe suite's private packet fields, `accepted_positions`, `expected_report` and the static recipe vocabulary (`expected_reports`, `mutations`, `supplemental_mutations`, `expected_failure_matrix` and their row fields). Any hit raises `GraderOnlyContent` (CLI exit 3) and nothing is written. Rating labels named `grade` beside a `scope` or `instrument` field are source data, not a leak. The single exemption is the static schema's required `accepted_positions` table at the top level of the case in `fixtures/case-exhibits.json`, which is evaluator-side; it is refused anywhere else, including under `worker/`. Schema files are byte copies and are not content-scanned. Acceptance is `src/test_desk_snapshot.py`; a worked script is `fixtures/snapshot-scripts/FUND_01-hold-day3.json`.\n 149: \n 150: `public_inputs.case` contains `as_of`, `base_currency`, `bank`, `book`, `parties`, `instruments`, `agreements`, `opinions`, `collateral`, `netting_sets`, `counterparty_constraints` and `mandate` from the current case. It excludes `accepted_positions`, future/scenario cash-event arrays and the documents annex. Reviewed legal source material is supplied through the authenticated public-document mechanism, not by exposing the evaluator's case file wholesale.\n 151: \n 152: ### Exact state vocabulary\n 153: \n 154: Top-level state keys are the closed list in State and receipts; no evaluator context, grade or future event path is stored in it. Genesis `last_receipt_hash` is 64 zeroes and all counters start at zero. `accounts` uses these exact debit-positive names: `cash`, `restricted_cash`, `restricted_collections`, `retained_U`, `deployment_principal`, `deployment_accrued`, `reinvestment_principal`, `inventory`, `posted_vm`, `unpaid_receivable`, `statutory_derivative_asset`, `statutory_derivative_liability`, `repo_debt`, `facility_debt`, `sale_financing`, `legacy_debt`, `received_vm`, `return_liability`, `unpaid_payable`, `claim_allowance`, `contributed_equity`, `income_carry`, `income_mark`, `income_hedge`, `expense_fees`, `expense_funding`, `expense_loss`, `management_funding_mark`, `management_hedge_asset`, `management_deferral`, `management_xva`, `management_income_mark`, `management_income_deferral`, `management_income_reserve`, `management_income_hedge`. The eight `management_` accounts form a separate balanced overlay. All accounts exist from genesis, even if zero. A liability/equity/income credit is negative. Core account balances are never inferred from candidate totals.\n 155: \n 156: The statutory derivative accounts record only actual separately recognized OFFSET or CDS contracts. They do not create a second derivative for the retained-U funding accounting unit. The public runtime offset quote treats the quoted value as signed legal fair value: fair consideration received by the desk is its negative. The original quoted upfront fixes the running spread; the current remaining-tenor quote determines today's fair consideration. Cash plus the newly recognized signed derivative balance has zero inception P&L before real fees. The static netting comparison already contains both trades and is not evidence that either fill occurred in the daily book. An outstanding derivative liability is not an overdue cash payable; only a dated contractual payment creates that obligation.\n 157: \n 158: `market` has exactly `funding_move`, `reference_move`, `own_bond_spread`, `own_cds_spread`, `provider_cds`, `em_move`, `ratings`, `market_open`. `ratings` maps `funding_reference`, `deployment_collateral`, `provider`, `borrower` to source labels. `legal` has `rights`, `transfer_blocks`, `observable`, `facility_status`, `defaults`, `substitution_requests`, `disputes`, `decisions`, `approvals`. `transfer_blocks` has exactly two booleans, `custody_delivery` and `cash_remittance`, initialized by the explicit policy map and changed only by an authenticated event's required `scopes`. No scalar or missing-scope fallback exists. Securities delivery, substitution and realizability use the custody rail and retain their separate title/delivery rights; borrower distributions and matured redemption use actual cash and the cash-remittance rail. A release changes only its named rail. Collection remittance still requires its own named-batch licence, and the independent funding contract is unchanged. The liquidity report exposes the same complete map. `rights` keys are `right|scope|collection_id`, with the last part empty unless collection-scoped; values are `effective`, `conditional` or `denied`. `defaults` keys are `borrower`, `provider`, `reference_issuer`; true cannot revert. Requests/disputes retain their originating IDs and source obligations/batches. Decisions and approvals use the closed records above, not unstructured permission prose.\n 159: \n 160: Every `lots[id]` contains `id`, `instrument_id`, `quantity`, `owner`, `location`, `encumbrance`, `issued`, `return_obligation`, `reuse_permitted`, `enforceability`, `source_evidence`, `book_value`, `issuer_id`, `issuer_kind`, `rating`, `maturity_date`, `coupon_spread`, `correlation`, `class`. Values for `class` are `funding_reference`, `deployment_collateral`, `allocation_inventory`, `replacement`, `equivalent`, `payment_rights`. `encumbrance` is null or an accepted contract ID. An unissued promise is not a lot. Source received security ownership remains the borrower for a pledge and the desk with a return obligation for a repo/title transfer; statutory loan exposure is never doubled by that legal form.\n 161: \n 162: Every `contracts[id]` has `id`, `kind`, `status`, `execution_date`, `effective_date`, `maturity_date`, `payment_dates`, `terms`, `state`, `source_evidence`. Immutable `terms` are copied from the authenticated source/quote. Contract `state` contains only the per-kind consumed balances/reset/paid-period fields specified by its handler. Live IDs begin `FUND_TRS`, `DEP_LOAN`, `DEP_SECURITY`, `LEGACY`, `FACILITY`; later IDs are `kind:action_id`. New contract states cannot amend locked historical terms. Each `obligations[id]` has `id`, `kind`, `contract_id`, `period_id`, `amount`, `remaining`, `paid_amount`, `side`, `due_day`, `status`, `source_evidence`, `metadata`; side is `payable` or `receivable`, status is `open`, `paid`, `written_off` or `disputed`. Identity is contractual period or authenticated event, not a fresh settlement receipt. `metadata` records the exact batch, account or deposit purpose needed by the specific obligation kind.\n 163: \n 164: `pending` items have `id`, `kind`, `due_date`, `contract_id`, `action_id`, `terms`, `source_evidence`. A source due date is public once its originating action/contract/event is known. It is not a hidden future external event. `accepted_action_ids` and `applied_event_ids` are arrays with uniqueness enforced. Source numeric policies required beyond the inherited inputs belong in worker-readable `fixtures/desk-policy.json`, owned by CoreLedger. That file must explicitly map the new account classes' capital and leverage treatment, business-day/weekend convention, repo and reinvestment conventions, default/claim assumptions and supported finite resource limits. A policy value cannot silently substitute for a missing source price, instrument, legal gate or quote.\n 165: \n 166: Operations are a closed union: `put_lot`, `put_contract`, `put_obligation`, `put_decision`, `put_approval` with `id,value`; `remove_lot` with `id`; `set_market`, `set_legal` with `key,value`; `put_right` with `key,value`; `put_dispute`, `put_request` with `id,value`; `add_pending` with `value`; `remove_pending` with `id`; `accept_action`, `mark_event` with `id`; and `commit_day` with `day,as_of,financial_time,revision`. No arbitrary JSON-pointer or account-mutation operation is accepted. Accounts change through balanced postings. Replay independently checks each operation, including decision/approval identity, dates, mandate scope and consumption.\n 167: \n 168: Quotes have `id`, `kind`, `parent_state_hash`, `revision`, `market_version`, `legal_version`, `phase`, `as_of`, `valid_until`, `terms`, `source_evidence`. Phase IDs are integer gaps `0..n` around the current day's authored events, with scheduled milestones included by `day_phases`. Common action fields are `kind,action_id,phase,quote_id`. Additional fields: `amount` for facility draw/repayment; `assignments` for repo allocation; `contract_id` for repo repayment/designation/reversal; `lot_id` for sale/return/liquidation; `instrument_id,quantity` for buying equivalent; `obligation_id,amount` for margin/payable/claim settlement; `amount,tenor_years` for reinvestment; `rule_id,reason_code,premises,rationale` for escalation/decline. Other kinds have no extra payload. All per-kind fields are required; unknown fields reject.\n 169: \n 170: Decision payload limits are 16 premises, 2,000 rationale characters and 32 scalar items in a premise value list. `rule_id` and `reason_code` are nonempty identifiers of at most 128 characters. Action-premise pointers start with `/` and follow RFC6901. Floats and nested value objects are not accepted. State retains at most 256 decisions and 256 approvals under the disclosed policy limits.\n 171: \n 172: Base contract state keys are closed. `FUND_TRS` has `principal`, `last_reset_price`, `last_reset_date`, `last_accrual_date`, `paid_periods`, `reset_periods`, `observability_history`, `vm_balance`, `unsettled_stub`, `netting_id`, `checkpoint_attribution`. `DEP_LOAN` has `outstanding_principal`, `paid_periods`, `prefunding`, `concession_spread`, `concession_start_date`, `last_accrual_date`. `DEP_SECURITY` has `active_lot_id`, `collection_batches`, `rights_chain`, `liquidated_quantity`, `returned`. `LEGACY` and `FACILITY` have `outstanding_principal`, `interest_accrued`, `interest_paid`, `last_accrual_date`, `paid_periods`. Later contract kinds use the initiating action kind and the handler's reviewed, closed state shape.\n 173: \n 174: The evaluator freezes an optional `observation_end_day` at initialization outside economic state and outside the worker packet. Final normalized scoring uses that fixed observation span; any unobserved remainder after stalling or a fatal blocker contributes zero without fabricating a clock advance or receipt. Live results expose a provisional raw score integral and elapsed coverage, not a final normalized score. No configured span means no final percentage. A fatal blocker ends observation and prevents further accepted actions. Missing or invalid calculations contribute zero on an otherwise valid accepted day; malformed envelopes still reject before any action. A later accepted envelope uses its own exact-parent report, never the best score from rejected attempts.\n 175: \n 176: A fatal assertion in otherwise well-formed parent calculations does not cancel valid actions in the same envelope. The evaluator grades the parent, settles independently valid actions, then latches report and settlement blockers before another day can execute. Thus changing calculations alone cannot change that envelope's cash or title. A reference failure prevents execution; a structurally invalid envelope or economically invalid action batch remains an atomic refusal.\n 177: \n 178: Book output retains `schema_version=\"daily-book-value.v2\"`, `parent_state_hash`, `as_of`, `financial_time`, `rates`, `credit_xva`, `capital`, `liquidity`, `accounting`, `source_evidence` and adds `client_outcome`. `accounting` retains separate `statutory`, `management`, `bridge`, `attribution`, `terminal` sections. Valuation sends computed values directly to DailyGrade. `rates.deployment_coupon_spread` follows the executed loan and effective substitution concessions, not an inference from annual expense. `checkpoint_overlay` returns `postings`, `attribution`, `targets`, `source_evidence`; no unexplained residual account may force reconciliation.\n 179: \n 180: `client_outcome(case, parameters, *, family, state, book)` in `institutional.py` derives the outcome from authenticated inputs without calling valuation. Identity fields are `party_id`, `legal_form`, `classification`, `currency`, `funding_deadline`; amounts are `cash_required`, `cash_delivered`, `contractual_spread`, `capital_shortfall`, `deadline_shortfall`. `delivered_at` is a date or null. Predicates are `deadline_met`, `legal_form_allowed`, `classification_consistent`, `return_obligation_met`, `approvals_satisfied`, `client_executable`, `bank_viable`, `successful`, `borrowing_ceiling_satisfied`, `maximum_spread_satisfied`, `inherited_delivery`. `failures` retains the reasons. Missing or invalid source facts are reference errors; unmet client goals are unsuccessful outcomes.\n 181: \n 182: Original borrower delivery comes from the settled `CF_DEPLOY` source cash flow and its `opening_deployment` receipt, not current outstanding principal or a new worker action. Its original settlement date determines deadline performance. A setup payment to P is not a borrower fee. Later action costs and effective contractual terms remain in their own receipts and valuations. Final outcomes do not replace the stored history of earlier failed owner-days.\n 183: \n 184: The run result's `institutional` object contains `client_outcome_owner=\"O11\"`, `checkpoint_outcomes`, `final_client_outcome`, `decisions` and `approvals`. `checkpoint_outcomes` reports `observed_days`, `successful_days`, `unsuccessful_days`, `inherited_successful_days` and `latest`. A latest row identifies `attempt_id`, `parent_state_hash`, `day`, `revision`, `elapsed_days` and `client_outcome`. `history().attempts[i].checkpoint.client_outcome` retains the immutable parent outcome independently of report validity. Outcome days are not summed cash flows.\n 185: \n 186: Each owner's score integral uses its exact-parent grade weight times checkpoint `elapsed_days`. O11 requires successful actual outcome plus accurate source-supported reporting. Inherited success may earn current O11 credit but stays tagged as inherited. A fixed evaluator observation span includes any unobserved remainder at zero; without a configured span there is no final percentage. `final_client_outcome` cannot overwrite history or award retroactive points.\n 187: \n 188: ## Explicit scenario windows\n 189: \n 190: `family_generator.generate_scenario_windows(root, output_root, seeds=(1,))` materializes the selected windows into a fresh output directory and writes `manifest.json` with `schema_version=\"scenario_windows.v1\"`, `source_file`, `source_sha256`, `windows`, `independence_established` and `actual_axis_consequences`. Window rows retain the generated-family identity and root, purpose, observation end day, funding/window/anchor dates and scenario-definition hash. Generation records `independence_established=false` and `actual_axis_consequences=\"pending_runtime\"`; it does not claim execution.\n 191: \n 192: Pass the materialized manifest to `desk_probes.audit_desk(..., scenario_windows_manifest=...)` or its `--window-manifest` CLI option. Omission produces a missing-window proof, not a pass. There is no fallback to an older directory or automatic selection of the newest run. The supplied manifest must bind current `fixtures/scenario-windows.json` bytes and seed-1 roots for all six definitions, each with its declared 20-day horizon. The original four windows are unchanged; `FUND_04_Q20_EQUIVALENT_RETURN` and `DPR_05_Q1_PARTIAL_PRICE_RETURN` are expressly related lifecycle regression windows, not additional independent families. A scored window is not extended to 24 days to obtain a later favorable result. The manifest and generated roots accompany the run's evidence; this evaluator configuration does not expose tomorrow's events to a protected worker.\n","tool_call_id":"call_765e117207f7542a9bb4805b775c2f4f","type":"tool_result"}},{"step":11,"generation":0,"created_at":"2026-09-20T09:55:34.889Z","event":{"stop_reason":"tool_calls","tool_calls":[{"id":"call_0cb7d189c2055c96b43074293f55cc4a","name":"view_file","arguments":"{\"path\":\"/work/data/artifacts/qyaws7fs/documents/schemas/daily-report.schema.json\",\"start_line\":1,\"end_line\":280,\"show_anchors\":false}"}],"type":"assistant","usage":{"prompt_tokens":36207,"completion_tokens":113,"total_tokens":36320,"cache_read_tokens":30004}}},{"step":11,"generation":0,"created_at":"2026-09-20T09:55:34.89Z","event":{"content":"File: /work/data/artifacts/qyaws7fs/documents/schemas/daily-report.schema.json (showing lines 1-280 of 2481)\n 1: {\n 2: \"$schema\": \"https://json-schema.org/draft/2020-12/schema\",\n 3: \"$id\": \"urn:back-to-back-funding:daily-book.v2\",\n 4: \"title\": \"Settled parent-checkpoint financial and institutional assertions\",\n 5: \"description\": \"Five financial sections use exact current-source assertions. Legal, compliance, structure and recommendation sections use entailed premises, independent client outcomes and supported alternatives, never exact reference prose.\",\n 6: \"type\": \"object\",\n 7: \"additionalProperties\": false,\n 8: \"required\": [\n 9: \"schema_version\",\n 10: \"parent_state_hash\",\n 11: \"rates\",\n 12: \"credit_xva\",\n 13: \"capital\",\n 14: \"liquidity\",\n 15: \"accounting\",\n 16: \"legal\",\n 17: \"compliance\",\n 18: \"structure\",\n 19: \"recommendation\"\n 20: ],\n 21: \"properties\": {\n 22: \"schema_version\": {\n 23: \"const\": \"daily-book.v2\"\n 24: },\n 25: \"parent_state_hash\": {\n 26: \"type\": \"string\",\n 27: \"pattern\": \"^[0-9a-f]{64}$\"\n 28: },\n 29: \"rates\": {\n 30: \"type\": \"object\",\n 31: \"additionalProperties\": false,\n 32: \"required\": [\n 33: \"funding_notional\",\n 34: \"unsettled_stub\",\n 35: \"legal_funding_mark\",\n 36: \"quoted_funding_component\",\n 37: \"management_funding_gain\",\n 38: \"reference_return_adjustment\",\n 39: \"funding_remaining_years\",\n 40: \"deployment_remaining_years\",\n 41: \"last_reset_price\",\n 42: \"next_payment_delay\",\n 43: \"reference_price\",\n 44: \"replacement_spread\",\n 45: \"quote_annuity\",\n 46: \"quote_id\",\n 47: \"principal_source\",\n 48: \"trs_principal_received\",\n 49: \"deployment_coupon_spread\",\n 50: \"roles\",\n 51: \"evidence\"\n 52: ],\n 53: \"properties\": {\n 54: \"funding_notional\": {\n 55: \"$ref\": \"#/$defs/money\"\n 56: },\n 57: \"unsettled_stub\": {\n 58: \"$ref\": \"#/$defs/money\"\n 59: },\n 60: \"legal_funding_mark\": {\n 61: \"$ref\": \"#/$defs/money\"\n 62: },\n 63: \"quoted_funding_component\": {\n 64: \"$ref\": \"#/$defs/money\"\n 65: },\n 66: \"management_funding_gain\": {\n 67: \"$ref\": \"#/$defs/money\"\n 68: },\n 69: \"reference_return_adjustment\": {\n 70: \"$ref\": \"#/$defs/money\"\n 71: },\n 72: \"funding_remaining_years\": {\n 73: \"$ref\": \"#/$defs/scalar\"\n 74: },\n 75: \"deployment_remaining_years\": {\n 76: \"$ref\": \"#/$defs/scalar\"\n 77: },\n 78: \"last_reset_price\": {\n 79: \"$ref\": \"#/$defs/scalar\"\n 80: },\n 81: \"next_payment_delay\": {\n 82: \"$ref\": \"#/$defs/scalar\"\n 83: },\n 84: \"reference_price\": {\n 85: \"$ref\": \"#/$defs/scalar\"\n 86: },\n 87: \"replacement_spread\": {\n 88: \"$ref\": \"#/$defs/scalar\"\n 89: },\n 90: \"quote_annuity\": {\n 91: \"$ref\": \"#/$defs/scalar\"\n 92: },\n 93: \"quote_id\": {\n 94: \"type\": \"string\",\n 95: \"minLength\": 1,\n 96: \"maxLength\": 4096\n 97: },\n 98: \"principal_source\": {\n 99: \"type\": \"string\",\n 100: \"minLength\": 1,\n 101: \"maxLength\": 256\n 102: },\n 103: \"trs_principal_received\": {\n 104: \"$ref\": \"#/$defs/money\"\n 105: },\n 106: \"deployment_coupon_spread\": {\n 107: \"$ref\": \"#/$defs/scalar\"\n 108: },\n 109: \"roles\": {\n 110: \"type\": \"object\",\n 111: \"additionalProperties\": false,\n 112: \"required\": [\n 113: \"funding_receiver\",\n 114: \"financing_payer\",\n 115: \"funding_provider\",\n 116: \"borrower\",\n 117: \"funding_reference_owner\",\n 118: \"accounting_unit\"\n 119: ],\n 120: \"properties\": {\n 121: \"funding_receiver\": {\n 122: \"type\": \"string\",\n 123: \"minLength\": 1,\n 124: \"maxLength\": 4096\n 125: },\n 126: \"financing_payer\": {\n 127: \"type\": \"string\",\n 128: \"minLength\": 1,\n 129: \"maxLength\": 4096\n 130: },\n 131: \"funding_provider\": {\n 132: \"type\": \"string\",\n 133: \"minLength\": 1,\n 134: \"maxLength\": 4096\n 135: },\n 136: \"borrower\": {\n 137: \"type\": \"string\",\n 138: \"minLength\": 1,\n 139: \"maxLength\": 4096\n 140: },\n 141: \"funding_reference_owner\": {\n 142: \"type\": \"string\",\n 143: \"minLength\": 1,\n 144: \"maxLength\": 4096\n 145: },\n 146: \"accounting_unit\": {\n 147: \"type\": \"string\",\n 148: \"minLength\": 1,\n 149: \"maxLength\": 4096\n 150: }\n 151: }\n 152: },\n 153: \"evidence\": {\n 154: \"type\": \"array\",\n 155: \"maxItems\": 4096,\n 156: \"items\": {\n 157: \"$ref\": \"#/$defs/citation\"\n 158: }\n 159: }\n 160: }\n 161: },\n 162: \"credit_xva\": {\n 163: \"type\": \"object\",\n 164: \"additionalProperties\": false,\n 165: \"required\": [\n 166: \"provider_cds\",\n 167: \"own_bond_spread\",\n 168: \"own_cds_spread\",\n 169: \"bond_cds_basis\",\n 170: \"CVA\",\n 171: \"KVA_component\",\n 172: \"UFVA\",\n 173: \"actual_unsecured_debt\",\n 174: \"annual_debt_funding_cost\",\n 175: \"reserve_borrowing\",\n 176: \"projection\",\n 177: \"protection\",\n 178: \"evidence\"\n 179: ],\n 180: \"properties\": {\n 181: \"provider_cds\": {\n 182: \"$ref\": \"#/$defs/scalar\"\n 183: },\n 184: \"own_bond_spread\": {\n 185: \"$ref\": \"#/$defs/scalar\"\n 186: },\n 187: \"own_cds_spread\": {\n 188: \"$ref\": \"#/$defs/scalar\"\n 189: },\n 190: \"bond_cds_basis\": {\n 191: \"$ref\": \"#/$defs/scalar\"\n 192: },\n 193: \"CVA\": {\n 194: \"$ref\": \"#/$defs/money\"\n 195: },\n 196: \"KVA_component\": {\n 197: \"$ref\": \"#/$defs/money\"\n 198: },\n 199: \"UFVA\": {\n 200: \"$ref\": \"#/$defs/money\"\n 201: },\n 202: \"actual_unsecured_debt\": {\n 203: \"$ref\": \"#/$defs/money\"\n 204: },\n 205: \"annual_debt_funding_cost\": {\n 206: \"$ref\": \"#/$defs/money\"\n 207: },\n 208: \"reserve_borrowing\": {\n 209: \"$ref\": \"#/$defs/money\"\n 210: },\n 211: \"projection\": {\n 212: \"type\": \"object\",\n 213: \"additionalProperties\": false,\n 214: \"required\": [\n 215: \"default_grid\",\n 216: \"capital_sampling\",\n 217: \"quarters\",\n 218: \"economic_tail_CVA\",\n 219: \"hedge_provider_CVA\",\n 220: \"debt_funding_PV\"\n 221: ],\n 222: \"properties\": {\n 223: \"default_grid\": {\n 224: \"type\": \"string\",\n 225: \"minLength\": 1,\n 226: \"maxLength\": 4096\n 227: },\n 228: \"capital_sampling\": {\n 229: \"type\": \"string\",\n 230: \"minLength\": 1,\n 231: \"maxLength\": 4096\n 232: },\n 233: \"quarters\": {\n 234: \"type\": \"integer\",\n 235: \"minimum\": 0,\n 236: \"maximum\": 9007199254740991\n 237: },\n 238: \"economic_tail_CVA\": {\n 239: \"$ref\": \"#/$defs/money\"\n 240: },\n 241: \"hedge_provider_CVA\": {\n 242: \"$ref\": \"#/$defs/money\"\n 243: },\n 244: \"debt_funding_PV\": {\n 245: \"$ref\": \"#/$defs/money\"\n 246: }\n 247: }\n 248: },\n 249: \"protection\": {\n 250: \"type\": \"object\",\n 251: \"additionalProperties\": false,\n 252: \"required\": [\n 253: \"contracts\",\n 254: \"notional\",\n 255: \"protected_exposure\",\n 256: \"uncovered_exposure\",\n 257: \"hedge_provider_EAD\",\n 258: \"hedge_provider_CVA\",\n 259: \"hedge_mark\",\n 260: \"premium_accrued\",\n 261: \"premium_paid\",\n 262: \"designated_notional\",\n 263: \"SNH\",\n 264: \"market_risk_K\",\n 265: \"remaining_years\",\n 266: \"unprotected_tail_years\"\n 267: ],\n 268: \"properties\": {\n 269: \"contracts\": {\n 270: \"type\": \"object\",\n 271: \"maxProperties\": 4096,\n 272: \"propertyNames\": {\n 273: \"type\": \"string\",\n 274: \"minLength\": 1,\n 275: \"maxLength\": 256\n 276: },\n 277: \"additionalProperties\": {\n 278: \"$ref\": \"#/$defs/protection_contract\"\n 279: }\n 280: },\n","tool_call_id":"call_0cb7d189c2055c96b43074293f55cc4a","type":"tool_result"}},{"step":12,"generation":0,"created_at":"2026-09-20T09:54:47.417Z","event":{"content":"Early institutional steer: hold_capital currently permitted; active CSA/substitution/offset/netting all require absent approvals (state.legal.approvals={}), so don't execute these now. Draw only genuine settled cash need: cash 123.833m, facility drawn 0 vs committed 257.402m. Borrower collateral is pledge/identical-return/reuse false; approval alone cannot confer sale/reuse title. Full live-book capital likely ample vs annex's old deficient baseline (contributed 391.054m plus profits); do NOT import annex USD1bn/20y capital-shortfall claim. Investigating actual client delivery and approval-lever economics.","sender":"chill-tiger","sender_type":"agent","type":"message"}},{"step":12,"generation":0,"created_at":"2026-09-20T09:58:31.536Z","event":{"stop_reason":"tool_calls","tool_calls":[{"id":"call_0216b0b652bc5eb2b96900f5c5f3bed8","name":"view_file","arguments":"{\"path\":\"/work/data/artifacts/qyaws7fs/parameters.json\",\"start_line\":1,\"end_line\":240,\"show_anchors\":false}"}],"type":"assistant","usage":{"prompt_tokens":39256,"completion_tokens":81,"total_tokens":39337,"cache_read_tokens":36205}}},{"step":12,"generation":0,"created_at":"2026-09-20T09:58:31.537Z","event":{"content":"File: /work/data/artifacts/qyaws7fs/parameters.json (showing lines 1-240 of 1778)\n 1: {\n 2: \"actions\": {\n 3: \"CDS\": {\n 4: \"CCR_qualified\": true,\n 5: \"CCR_scope\": \"CRE51.16(1) exception only for qualified cover\",\n 6: \"CVA_designation_eligible\": true,\n 7: \"CVA_scope\": \"MAR50 provider exposure calculated by regular SA-CCR for CVA method annex despite CCR purchased-protection exception\",\n 8: \"annual_administration_fee\": \"24750.225\",\n 9: \"baseline_executed\": false,\n 10: \"covered_events\": [\n 11: \"failure_to_pay\",\n 12: \"bankruptcy\",\n 13: \"restructuring\"\n 14: ],\n 15: \"default_correlation\": \"0\",\n 16: \"direct_irrevocable_unconditional\": true,\n 17: \"effective_business_days\": \"2\",\n 18: \"executable\": true,\n 19: \"fee\": \"247502.25\",\n 20: \"guarantee_equivalent\": true,\n 21: \"hedge_CVA_gap_spread_move\": \"0.0009900658\",\n 22: \"hedge_economic_term\": \"Five-year fixed-notional cash-settled CDS on P; no automatic renewal and no protection after expiry\",\n 23: \"hedge_provider_CDS\": \"0.0039603092\",\n 24: \"hedge_provider_CSA\": \"Executed two-way cash VM, 20BD MPOR\",\n 25: \"hedge_provider_CVA_method\": \"desk_annex_normal_saccr\",\n 26: \"hedge_provider_mpor_days\": \"20\",\n 27: \"hedge_provider_recovery\": \"0.4\",\n 28: \"hedge_provider_short_term_exception\": false,\n 29: \"margin_terms\": {\n 30: \"NICA\": \"0\",\n 31: \"minimum_transfer_amount\": \"0\",\n 32: \"mpor_floor\": {\n 33: \"illiquid_or_hard_to_replace\": true,\n 34: \"non_centrally_cleared\": true,\n 35: \"over_5000_transactions\": false,\n 36: \"remargin_interval_days\": \"1\",\n 37: \"repeated_disputes\": false,\n 38: \"source_evidence\": {\n 39: \"file\": \"docs/reference-input-contract.md\",\n 40: \"locator\": \"mpor-floor-facts\"\n 41: }\n 42: },\n 43: \"threshold\": \"0\"\n 44: },\n 45: \"notional\": \"316802880\",\n 46: \"premium\": \"0.0084151402\",\n 47: \"protection_provider_id\": \"H\",\n 48: \"provider_independent\": true,\n 49: \"quote_id\": \"SYN-CDS-FUND_01-S1\",\n 50: \"quoted_at\": \"2027-06-05\",\n 51: \"recognition_terms\": {\n 52: \"cash_settlement_valuation_robust\": true,\n 53: \"credit_event_determination_independent\": true,\n 54: \"grace_period_covered\": true,\n 55: \"legally_enforceable\": true,\n 56: \"protection_provider_eligible\": true,\n 57: \"reference_obligation_not_senior\": true,\n 58: \"source_evidence\": {\n 59: \"file\": \"docs/reference-input-contract.md\",\n 60: \"locator\": \"protection-recognition-facts\"\n 61: },\n 62: \"underlying_contract_id\": \"FUND_TRS\"\n 63: },\n 64: \"reference_provider_id\": \"P\",\n 65: \"replacement_quote\": {\n 66: \"base_market_premium\": \"0.0084151402\",\n 67: \"conversion\": \"cds_spread_difference_remaining_annuity\",\n 68: \"executable\": true,\n 69: \"id\": \"SYN-CDS-ROLL-FUND_01-S1\",\n 70: \"locked_premium\": \"0.0084151402\",\n 71: \"notional\": \"316802880\",\n 72: \"protection_provider_id\": \"H\",\n 73: \"quoted_at\": \"2027-06-05\",\n 74: \"reference_provider_id\": \"P\",\n 75: \"remaining_years\": \"4\",\n 76: \"source_evidence\": {\n 77: \"file\": \"docs/exhibit-fields.md\",\n 78: \"locator\": \"fictional-quote-board\"\n 79: },\n 80: \"stressed_market_premium\": \"0.0168302804\"\n 81: },\n 82: \"same_currency\": true,\n 83: \"same_obligor_cross_default\": true,\n 84: \"source_evidence\": {\n 85: \"file\": \"docs/exhibit-fields.md\",\n 86: \"locator\": \"fictional-actions\"\n 87: },\n 88: \"tenor_starts\": \"execution\",\n 89: \"timely_cash_settlement\": true,\n 90: \"undesignated_market_risk_basis\": \"Synthetic separately allocated trading-book stress capital, not a derived MAR10-40 minimum; zero in designated branch only under eligible CVA purpose\",\n 91: \"undesignated_market_risk_capital\": \"495004.5\",\n 92: \"year1_quote_clock\": \"One year after CDS execution; actual remaining CDS term is four years\",\n 93: \"years\": \"5\"\n 94: },\n 95: \"CSA\": {\n 96: \"annual_administration_fee\": \"24750.225\",\n 97: \"annual_commitment_fee\": \"49500.45\",\n 98: \"baseline_executed\": false,\n 99: \"cost_scope\": \"Deterministic stress price, not probability-weighted expected value\",\n 100: \"effective_business_days\": \"2\",\n 101: \"executable\": true,\n 102: \"facility_commitment_rate\": \"0.0009900752\",\n 103: \"facility_draw_ois\": \"0.0356420304\",\n 104: \"facility_limit\": \"99000900\",\n 105: \"facility_repayment_source\": \"Posted cash VM returned after stress interval; base book cash is not silently this separate snapshot buffer\",\n 106: \"facility_spread\": \"0.0148506015\",\n 107: \"facility_upfront_fee\": \"99000.9\",\n 108: \"fee\": \"990009\",\n 109: \"full_mark_coverage\": true,\n 110: \"leverage_vm\": {\n 111: \"cash_settled\": true,\n 112: \"daily_exchange\": true,\n 113: \"full_mark_exchange\": true,\n 114: \"non_segregated\": true,\n 115: \"same_currency\": true,\n 116: \"single_enforceable_master\": true,\n 117: \"source_evidence\": {\n 118: \"file\": \"docs/reference-input-contract.md\",\n 119: \"locator\": \"leverage-recognition-facts\"\n 120: }\n 121: },\n 122: \"liquidity_buffer\": \"19800180\",\n 123: \"margin_remuneration_spread\": \"0\",\n 124: \"quote_id\": \"SYN-CSA-FUND_01-S1\",\n 125: \"quoted_at\": \"2027-06-05\",\n 126: \"rehypothecation_allowed\": true,\n 127: \"requires\": \"Signed bilateral daily cash VM CSA and enforceability opinion\",\n 128: \"source_evidence\": {\n 129: \"file\": \"docs/exhibit-fields.md\",\n 130: \"locator\": \"fictional-actions\"\n 131: },\n 132: \"stress_days\": \"30\",\n 133: \"stress_funding_move\": \"-0.009900736\",\n 134: \"stress_scenario_probability\": \"1\",\n 135: \"two_way\": true\n 136: },\n 137: \"hold\": {\n 138: \"action_id\": \"hold\",\n 139: \"description\": \"Keep existing contracts and capital; no imagined cash release or forced refinancing\",\n 140: \"effective_business_days\": \"0\",\n 141: \"executable\": true,\n 142: \"fee\": \"0\",\n 143: \"source_evidence\": {\n 144: \"file\": \"docs/exhibit-fields.md\",\n 145: \"locator\": \"fictional-actions\"\n 146: }\n 147: },\n 148: \"netting\": {\n 149: \"baseline_executed\": false,\n 150: \"covered_trade_ids\": [\n 151: \"FUND_TRS\",\n 152: \"OFFSET_TRS\"\n 153: ],\n 154: \"effective_business_days\": \"30\",\n 155: \"executable\": true,\n 156: \"fee\": \"742506.75\",\n 157: \"legal_status\": \"Pending until all signed opinions and novation confirmations delivered\",\n 158: \"master_id\": \"MASTER_P_CONSOLIDATED\",\n 159: \"opinion_delivered_at_execution\": true,\n 160: \"opinion_jurisdictions\": [\n 161: \"Meridian home law\",\n 162: \"P insolvency law\"\n 163: ],\n 164: \"other_trade\": {\n 165: \"contract_id\": \"OFFSET_TRS\",\n 166: \"credit_delta\": \"1\",\n 167: \"netting_set_id\": \"OFFSET_P\",\n 168: \"notional\": \"495004500\",\n 169: \"provider_id\": \"P\",\n 170: \"quantity\": \"495004500\",\n 171: \"quote\": {\n 172: \"contract_id\": \"OFFSET_TRS\",\n 173: \"conversion\": \"upfront_implied_spread_remaining_annuity\",\n 174: \"executable\": true,\n 175: \"id\": \"SYN-OFFSET-FUND_01-S1\",\n 176: \"notional\": \"495004500\",\n 177: \"provider_id\": \"P\",\n 178: \"quantity\": \"495004500\",\n 179: \"quoted_at\": \"2027-06-05\",\n 180: \"quoted_upfront\": \"-49500450\",\n 181: \"reference_id\": \"U\",\n 182: \"remaining_years\": \"20\",\n 183: \"scenario_margin_beta\": \"0\",\n 184: \"source_evidence\": {\n 185: \"file\": \"docs/exhibit-fields.md\",\n 186: \"locator\": \"fictional-quote-board\"\n 187: }\n 188: },\n 189: \"reference_id\": \"U\",\n 190: \"remaining_years\": \"20\",\n 191: \"role\": \"total_return_payer\"\n 192: },\n 193: \"quote_id\": \"SYN-NETTING-FUND_01-S1\",\n 194: \"quoted_at\": \"2027-06-05\",\n 195: \"same_provider_required\": true,\n 196: \"source_evidence\": {\n 197: \"file\": \"docs/exhibit-fields.md\",\n 198: \"locator\": \"fictional-actions\"\n 199: }\n 200: },\n 201: \"substitute\": {\n 202: \"annual_spread_concession\": \"0.0089108784\",\n 203: \"baseline_executed\": false,\n 204: \"effective_business_days\": \"2\",\n 205: \"eligibility_source_evidence\": {\n 206: \"file\": \"docs/reference-input-contract.md\",\n 207: \"locator\": \"substitution-eligibility\"\n 208: },\n 209: \"executable\": true,\n 210: \"original_years\": \"5\",\n 211: \"quote_id\": \"SYN-SUBSTITUTE-FUND_01-S1\",\n 212: \"quoted_at\": \"2027-06-05\",\n 213: \"replacement_coupon_spread\": \"0.009900578\",\n 214: \"replacement_credit_move\": \"0\",\n 215: \"replacement_enforceable\": true,\n 216: \"replacement_issue_rating\": \"AAA\",\n 217: \"replacement_issued\": true,\n 218: \"replacement_issuer\": \"FUND_01 independent substitution issuer series 1\",\n 219: \"replacement_issuer_kind\": \"other\",\n 220: \"replacement_market_liquid\": true,\n 221: \"replacement_material_positive_correlation\": false,\n 222: \"replacement_quantity\": \"990009000\",\n 223: \"replacement_residual_years\": \"5\",\n 224: \"replacement_same_currency\": true,\n 225: \"requires\": \"Signed issuer-independent AAA collateral substitution, custody control and daily revaluation\",\n 226: \"reversal_effective_business_days\": \"2\",\n 227: \"source_evidence\": {\n 228: \"file\": \"docs/exhibit-fields.md\",\n 229: \"locator\": \"fictional-actions\"\n 230: },\n 231: \"unwind_fee\": \"247502.25\",\n 232: \"upfront_fee\": \"990009\"\n 233: }\n 234: },\n 235: \"allocation\": {\n 236: \"assignment_rule\": \"Every lot exactly once. Indivisible, no double pledge. No cross-trade regulatory netting; each repo exposure calculated separately. Both quotes take every assigned lot at full market advance.\",\n 237: \"capital_budget\": \"1980018\",\n 238: \"days\": \"7\",\n 239: \"equity_hurdle\": \"0.10\",\n 240: \"lenders\": {\n","tool_call_id":"call_0216b0b652bc5eb2b96900f5c5f3bed8","type":"tool_result"}},{"step":13,"generation":0,"created_at":"2026-09-20T09:56:40.733Z","event":{"content":"Funding/credit preliminary: current N=990009000, financial_time=0.2418478260869565217391304347826086956522 (not 89/365), funding residual 19.758152173913..., deployment 4.758152173913..., next original payment 2027-09-05 gives 3/92*0.25 (not fresh 0.25); no executed CDS/CSA/offset contracts. CDS quote is NOT existing protection. FACILITY committed 257402340 but outstanding 0: no reserve borrowing/UFVA created; legacy debt 990009000 at OIS remains. Distinguish annual actual debt interest from own-bond spread and commitment. Pricing curve copies are fixed supplied values, no live curves/CDX/CLO. Checking exact current receipt and DAILY evidence now.","sender":"tame-bison","sender_type":"agent","type":"message"}},{"step":14,"generation":0,"created_at":"2026-09-20T09:59:18.769Z","event":{"content":"Read complete schema and accounting/runtime docs. Accounting requires fresh CVA/KVA and funding mark/deferral at parent plus AVA fields. I will independently derive journals/attribution and reconcile receipts. Please have pricing agent send current exact CVA, KVA_component, quoted/management funding mark and AVA/replacement-equity when available; checkpoint_attribution may hold existing source targets but current valuation can differ after clock roll.","sender":"balmy-sheep","sender_type":"agent","type":"message"}},{"step":14,"generation":0,"created_at":"2026-09-20T10:00:28.245Z","event":{"content":"cancelled via UI","marker":"cancelled","type":"system"}},{"step":14,"generation":0,"created_at":"2026-09-20T10:00:28.246Z","event":{"child_session_id":"tame-bison","content":"parent main-agent cancelled","type":"child_result","verdict":"cancelled"}},{"step":14,"generation":0,"created_at":"2026-09-20T10:00:28.247Z","event":{"child_session_id":"balmy-sheep","content":"parent main-agent cancelled","type":"child_result","verdict":"cancelled"}},{"step":14,"generation":0,"created_at":"2026-09-20T10:00:28.248Z","event":{"child_session_id":"chill-tiger","content":"parent main-agent cancelled","type":"child_result","verdict":"cancelled"}},{"step":14,"generation":0,"created_at":"2026-09-20T10:00:28.249Z","event":{"child_session_id":"lofty-squid","content":"parent main-agent cancelled","type":"child_result","verdict":"cancelled"}}]