{
 "spec": "v25 SPEC - Banking Reserve Model (registered).md",
 "dials": {
  "M0": 1.0,
  "d": 0.6,
  "rr_sweep": [
   0.03,
   0.1,
   0.2
  ],
  "lock_share_sweep": [
   0.2,
   0.4,
   0.6
  ],
  "w_sweep": [
   0.1,
   0.3,
   0.5
  ],
  "gov_tol": 0.05
 },
 "N0": {
  "full_broad_money": 1.0,
  "full_is_M0": true,
  "frac_multiplier_identity": {
   "0.03": {
    "broad_money": 20.4,
    "identity": 20.4,
    "broad_money_simulated": 20.399999999999995,
    "sim_residual": 3.552713678800501e-15,
    "matches": true
   },
   "0.1": {
    "broad_money": 6.4,
    "identity": 6.4,
    "broad_money_simulated": 6.399999999999998,
    "sim_residual": 2.6645352591003757e-15,
    "matches": true
   },
   "0.2": {
    "broad_money": 3.4,
    "identity": 3.4,
    "broad_money_simulated": 3.400000000000001,
    "sim_residual": 8.881784197001252e-16,
    "matches": true
   }
  },
  "method": "FRAC broad money independently simulated via iterative deposit re-lending cascade and checked against the registered closed-form multiplier identity M0*(1+d*(1-rr)/rr); FULL creation computed from a 100%-reserve cascade (=0), not asserted.",
  "pass": true
 },
 "N1": {
  "full_control_ratio": 1.0,
  "full_lock_control_ratio": 1.0,
  "frac": {
   "0.03": {
    "control_ratio": 20.4,
    "excess_pct": 1939.9999999999998,
    "within_tol": false
   },
   "0.1": {
    "control_ratio": 6.4,
    "excess_pct": 540.0,
    "within_tol": false
   },
   "0.2": {
    "control_ratio": 3.4,
    "excess_pct": 240.0,
    "within_tol": false
   }
  },
  "fulllock_by_lock": {
   "0.2": {
    "control_ratio": 1.0,
    "within_tol": true
   },
   "0.4": {
    "control_ratio": 1.0,
    "within_tol": true
   },
   "0.6": {
    "control_ratio": 1.0,
    "within_tol": true
   }
  },
  "full_within_tol": true,
  "fulllock_within_tol": true,
  "frac_breaches_all": true,
  "pass": true
 },
 "N2": {
  "full_price_dev_pct": 0.0,
  "fulllock_price_dev_pct": 0.0,
  "frac": {
   "0.03": {
    "price_dev_pct": 1939.9999999999998,
    "within_5pct": false
   },
   "0.1": {
    "price_dev_pct": 540.0,
    "within_5pct": false
   },
   "0.2": {
    "price_dev_pct": 240.0,
    "within_5pct": false
   }
  },
  "full_within_5pct": true,
  "fulllock_within_5pct": true,
  "frac_breaches_all": true,
  "pass": true
 },
 "N3": {
  "full_survives_w": {
   "0.1": true,
   "0.3": true,
   "0.5": true
  },
  "frac_survives": {
   "0.1": {
    "0.03": false,
    "0.1": true,
    "0.2": true
   },
   "0.3": {
    "0.03": false,
    "0.1": false,
    "0.2": false
   },
   "0.5": {
    "0.03": false,
    "0.1": false,
    "0.2": false
   }
  },
  "full_reserves_over_demand": 1.0,
  "full_survives_at_w1p0": true,
  "full_reserve_margin_at_w1p0": 0.0,
  "full_survives_100pct": true,
  "frac_run_threshold": "fails when withdrawal fraction w > reserve ratio rr",
  "method": "static reserve-coverage (liquidity) check: survives iff reserves (reserve_ratio x demand deposits) >= withdrawn demand deposits (w x demand deposits), i.e. w <= reserve_ratio; FULL reserve_ratio=1.0 -> survives up to w=100% (zero margin at 100%).",
  "dynamic_run_simulated": false,
  "pass": true
 },
 "N4": {
  "frac_total_capacity_over_M0": {
   "0.03": 19.4,
   "0.1": 5.4,
   "0.2": 2.4
  },
  "frac_sound_first_round_over_M0": {
   "0.03": 0.582,
   "0.1": 0.54,
   "0.2": 0.48
  },
  "frac_money_created_excess_over_M0": {
   "0.03": 18.817999999999998,
   "0.1": 4.86,
   "0.2": 1.92
  },
  "full_capacity": 0.0,
  "fulllock": {
   "0.2": {
    "capacity_over_M0": 0.12,
    "recovers_frac_TOTAL_pct": 2.222222222222222,
    "recovers_frac_SOUND_pct": 22.22222222222222
   },
   "0.4": {
    "capacity_over_M0": 0.24,
    "recovers_frac_TOTAL_pct": 4.444444444444444,
    "recovers_frac_SOUND_pct": 44.44444444444444
   },
   "0.6": {
    "capacity_over_M0": 0.36,
    "recovers_frac_TOTAL_pct": 6.666666666666667,
    "recovers_frac_SOUND_pct": 66.66666666666666
   }
  },
  "fulllock_at_0p4_recovers_TOTAL_pct": 4.444444444444444,
  "fulllock_at_0p4_recovers_SOUND_pct": 44.44444444444444,
  "fulllock_at_0p6_recovers_SOUND_pct": 66.66666666666666,
  "bar_misframed_note": "registered bar compares to FRAC TOTAL capacity, which is ~90% money creation (the N1/N2 harm); the honest denominator is FRAC's SOUND first-round intermediation (0.54xM0 at rr=10%), which FULL+LOCK recovers 44% at 40% lock and 67% at 60% lock.",
  "pass": false,
  "pass_on_sound_at_0p6_lock": true
 },
 "N5": {
  "frac_amplitude": {
   "0.03": 6.466666666666667,
   "0.1": 1.8,
   "0.2": 0.8000000000000002
  },
  "fulllock_gain": 1.0,
  "fulllock_amplitude": 0.2,
  "frac_amplitude_all_exceed_fulllock": true,
  "frac_more_procyclical": true,
  "pass": true
 },
 "bar_summary": {
  "N0": true,
  "N1": true,
  "N2": true,
  "N3": true,
  "N4": false,
  "N5": true
 }
}