{
  "tool_id": "art-529-ccp-default-waterfall-recompute",
  "kernel_id": "art-529-ccp-default-waterfall-recompute",
  "display_name": "CCP Default Waterfall Recomputation",
  "tool_version": "1.0.0",
  "mandate_type": "analytics_mandate",
  "purpose": "Recomputes the sequential loss-allocation order at a CCP defaulting-member event: defaulter's initial margin, then the defaulter's default-fund contribution, then the CCP's own skin-in-the-game, then the surviving members' default-fund pool, then assessment powers -- per a caller-declared waterfall structure and a caller-declared loss amount. The structure is not hardcoded to any one CCP's rulebook; a caller supplies its own stage order and subset per PFMI Principle 4 and its own published rulebook. Carries an OCG Standard §25 ocg-private-input@1 declaration: the defaulter's initial margin, the defaulter's default-fund contribution, and the surviving-members' default-fund pool are member-level figures, committed via sha256-salted@1 in policy_parameters.member_figures_commitment, never disclosed in the clear. The CCP's own skin-in-the-game and any assessment-powers cap are the CCP's own already-published figures and stay public inputs. Emits, stage by stage, how much of the declared loss each stage absorbed and whether a residual remains unallocated -- a breach of the declared structure at that loss amount. Distinct in domain from art-509-recompute-payment-waterfall, a securitisation cashflow waterfall unrelated to CCP default management. It performs no fund-sizing of its own, no stress-scenario modelling, and makes no determination that any CCP's published resources are adequate.",
  "control_description": "Recomputes the sequential loss-allocation order at a CCP defaulting-member event: defaulter's initial margin, then the defaulter's default-fund contribution, then the CCP's own skin-in-the-game, then the surviving members' default-fund pool, then assessment powers -- per a caller-declared waterfall structure and a caller-declared loss amount. The structure is not hardcoded to any one CCP's rulebook; a caller supplies its own stage order and subset per PFMI Principle 4 and its own published rulebook. Carries an OCG Standard §25 ocg-private-input@1 declaration: the defaulter's initial margin, the defaulter's default-fund contribution, and the surviving-members' default-fund pool are member-level figures, committed via sha256-salted@1 in policy_parameters.member_figures_commitment, never disclosed in the clear. The CCP's own skin-in-the-game and any assessment-powers cap are the CCP's own already-published figures and stay public inputs. Emits, stage by stage, how much of the declared loss each stage absorbed and whether a residual remains unallocated -- a breach of the declared structure at that loss amount. Distinct in domain from art-509-recompute-payment-waterfall, a securitisation cashflow waterfall unrelated to CCP default management. It performs no fund-sizing of its own, no stress-scenario modelling, and makes no determination that any CCP's published resources are adequate.",
  "declared_inputs": [],
  "declared_outputs": [],
  "kernel_digest": "sha256:1fa3932e10c166675cb5eaf1c41a165ee448e916df2086e1cf963e95ee4a2f97",
  "trust_label": "independently verified: zkVM execution proof (risc0/groth16-bn254)",
  "data_vintage": "2026-08-04",
  "last_validated": "2026-08-04",
  "conformance_fixtures_vendored": true,
  "compute_proof_ready": "ready",
  "wave": 83,
  "source_url": "https://ainumbers.co/chaingraph/art-529-ccp-default-waterfall-recompute.html",
  "generated_at": "2026-08-15T11:12:17.704Z"
}