{
  "covenants": [
    {
      "id": "COV-001",
      "name": "Probability of Default (PD) Limit",
      "description": "SR 26-2 Excluded Deterministic Rule: Flags entities whose 12-month forward PD exceeds the 5.0% threshold.",
      "rule": {
        ">": [
          { "var": "pd_12m_forward" },
          0.05
        ]
      },
      "action": "GENERATE_SAR"
    },
    {
      "id": "COV-002",
      "name": "Basel IV Output Floor Check",
      "description": "SR 26-2 Excluded Deterministic Rule: Ensures internal models do not fall below the 72.5% Basel IV output floor.",
      "rule": {
        "<": [
          { "var": "internal_model_rwa" },
          0.725
        ]
      },
      "action": "TRIGGER_FLOOR_OVERRIDE"
    }
  ]
}