{
  "experimentId": "treasury-repo-margin",
  "inputs": {
    "cash": 50000,
    "collateral": 1000000,
    "horizon": 45,
    "initialHaircut": 2,
    "maintenanceHaircut": 2,
    "marginDay": 30,
    "minimumTransfer": 5000,
    "priceChange": -5,
    "repoRate": 4,
    "threshold": 1000
  },
  "modelVersion": "yieldguard-experiments-1.2.0",
  "receipt": {
    "id": "cd1ff8819db46fca278bd62f650dd4f61cd1a030c63086c51a67f187bd7990d9",
    "request": {
      "operation": "run",
      "experimentId": "treasury-repo-margin",
      "inputs": {
        "cash": 50000,
        "collateral": 1000000,
        "horizon": 45,
        "initialHaircut": 2,
        "maintenanceHaircut": 2,
        "marginDay": 30,
        "minimumTransfer": 5000,
        "priceChange": -5,
        "repoRate": 4,
        "threshold": 1000
      },
      "seed": 42,
      "startDate": "2026-01-01"
    },
    "inputHash": "08651d0687203b6ba791f07d5d8fc8b87e3f7ceb8e7878bef62f1aa2fa4a9c8e",
    "disturbanceHash": "0b88a213fa0eeb8c148e9bc7d9b12a1305c9e18e1b7271f69c5604d14af0b0bc",
    "evidence": [
      {
        "class": "assumption",
        "source": "Prepared illustrative inputs: treasury-repo-margin",
        "observationDate": "not observed",
        "transformation": "Declared repo financing haircut, ACT/360 accrued repo interest, repriced collateral, unsecured threshold and strictly-exceeded minimum cash-transfer clause.",
        "status": "illustrative"
      }
    ],
    "limitations": [
      "Illustrative user assumptions; no live market data or calibrated forecast.",
      "Results apply only to the declared mechanisms, horizon and search bounds.",
      "Initial repo cash equals collateral value times one minus the initial haircut. A one-off price change is applied on the margin day; repo interest accrues ACT/360. Transfer occurs only when excess exposure above the threshold is strictly greater than the minimum transfer amount.",
      "An illustrative single-trade cash-margin clause, not a GMRA implementation. Posted margin is encumbered cash, not an investment loss. Repo close-out, netting, coupon treatment and margin return are outside the horizon model.",
      "No market refresh, AI calculation, trade execution or forecast calibration.",
      "Receipts are content-addressed local calculation records, not externally signed attestations.",
      "Deterministic calculation: the seed is recorded for the common receipt contract; this experiment samples no random disturbances."
    ]
  },
  "metrics": [
    {
      "key": "initialFinancing",
      "label": "Existing repo cash principal",
      "value": 980000,
      "unit": "USD"
    },
    {
      "key": "accruedRepoInterest",
      "label": "Repo interest accrued to margin day",
      "value": 3266.67,
      "unit": "USD"
    },
    {
      "key": "eligibleCollateral",
      "label": "Repriced collateral after maintenance haircut",
      "value": 931000,
      "unit": "USD"
    },
    {
      "key": "exposureBeforeThreshold",
      "label": "Repo balance less eligible collateral",
      "value": 52266.67,
      "unit": "USD"
    },
    {
      "key": "cashMarginTransfer",
      "label": "Cash margin required by the declared clause",
      "value": 51266.67,
      "unit": "USD"
    },
    {
      "key": "minimumCash",
      "label": "Minimum available cash",
      "value": -1266.67,
      "unit": "USD"
    },
    {
      "key": "finalCash",
      "label": "Final available cash",
      "value": -1266.67,
      "unit": "USD"
    },
    {
      "key": "shortfall",
      "label": "Largest funding deficit",
      "value": 1266.67,
      "unit": "USD"
    }
  ],
  "interpretation": "The declared transfer threshold creates a discrete cash requirement. Posted margin remains an encumbered asset rather than a realised investment loss. Initial financing is already outstanding and is not added again to available cash.",
  "warnings": [
    "Illustrative assumptions; no live data or forecast calibration.",
    "Illustrative user assumptions; no live market data or calibrated forecast.",
    "Results apply only to the declared mechanisms, horizon and search bounds.",
    "Initial repo cash equals collateral value times one minus the initial haircut. A one-off price change is applied on the margin day; repo interest accrues ACT/360. Transfer occurs only when excess exposure above the threshold is strictly greater than the minimum transfer amount.",
    "An illustrative single-trade cash-margin clause, not a GMRA implementation. Posted margin is encumbered cash, not an investment loss. Repo close-out, netting, coupon treatment and margin return are outside the horizon model."
  ],
  "timelineKind": "cash",
  "feasibilityAssessed": true,
  "feasible": false
}