{
  "process_id": "CM-08",
  "policy_version": "synthetic-v1",
  "event_id": "cm-08-example-v1",
  "input": {
    "as_of": "2026-11-09T14:00:00Z",
    "requested_cents": 10000000,
    "facility": {
      "as_of": "2026-11-09T14:00:00Z",
      "agreement_limit_cents": 100000000,
      "provider_limit_cents": 100000000,
      "drawn_cents": 60000000,
      "reserved_cents": 10000000,
      "eligible_collateral_cents": 90000000,
      "advance_rate_bps": 9000,
      "covenant_hold": false,
      "facility_id": "SYNTHETIC-FACILITY-1",
      "currency": "USD"
    },
    "currency": "USD",
    "request_id": "SYNTHETIC-DRAW-1"
  },
  "expected": {
    "status": "ready_for_review",
    "drawable_cents": 11000000,
    "requested_cents": 10000000,
    "mode": "treasury_handoff_only",
    "errors": []
  },
  "changes": [
    {
      "name": "Request exceeds tighter collateral headroom",
      "path": [
        "requested_cents"
      ],
      "value": 12000000,
      "expected": {
        "status": "hold",
        "drawable_cents": 11000000,
        "requested_cents": 12000000,
        "mode": "treasury_handoff_only",
        "errors": [
          "insufficient_capacity"
        ]
      }
    },
    {
      "name": "Stale provider availability",
      "path": [
        "facility",
        "as_of"
      ],
      "value": "2026-11-09T13:00:00Z",
      "expected": {
        "status": "hold",
        "drawable_cents": 11000000,
        "requested_cents": 10000000,
        "mode": "treasury_handoff_only",
        "errors": [
          "stale_availability"
        ]
      }
    },
    {
      "name": "Confirmed and applied payoff lowers outstanding advance",
      "path": [
        "facility",
        "drawn_cents"
      ],
      "value": 50000000,
      "expected": {
        "status": "ready_for_review",
        "drawable_cents": 21000000,
        "requested_cents": 10000000,
        "mode": "treasury_handoff_only",
        "errors": []
      }
    },
    {
      "name": "Boolean reserve cannot become cents",
      "path": [
        "facility",
        "reserved_cents"
      ],
      "value": false,
      "expected": {
        "status": "hold",
        "errors": [
          "invalid_input:facility.reserved_cents:expected_integer"
        ]
      }
    },
    {
      "name": "Missing agreement limit",
      "remove_path": [
        "facility",
        "agreement_limit_cents"
      ],
      "expected": {
        "status": "hold",
        "errors": [
          "missing_field:agreement_limit_cents"
        ]
      }
    }
  ]
}