Credit Risk & Waterfall Settlement Workstation
Calibrate risk haircut matrices, stress-test borrowing base formulas, and simulate deterministic 5-tier sales waterfall allocations.
Double-Entry Invariants Enforced
Borrowing Base & Haircut Engine
Formula: Eligible Limit = Gross Appraisal × (1 - Total Cumulative Haircut)
Gross Appraised Collateral ($ USD)$50,000
Commodity Volatility Haircut:20%
Spoilage / Obsolescence Buffer:5%
Distress Liquidation Discount:10%
Total Cumulative Haircut:35% Discount
Eligible Borrowing Base Limit:$32,500.00
5-Tier Sales Settlement Cash Flow Waterfall
Deterministic priority: Senior Interest → Principal → Reserve → Junior Yield → Issuer Equity.
Net Distributable Cash Flow:$35,500.00
Tier 1: Senior Secured Interest$3,500.00 (100%)
11.2% Priority coupon to debt token holders
Tier 2: Senior Principal Amortization$18,000.00 (100%)
Paydown of underlying debt principal
Tier 3: Warehouse & Liquidity Reserve$2,500.00 (100%)
Escrow buffer for storage and insurance
Tier 4: Subordinated Mezzanine Yield$3,000.00 (100%)
14.8% High-yield tranche payout
Tier 5: Issuer Equity Residual Return$8,500.00 (100%)
Surplus cash released to borrowing company