{
    "global_limits": {
        "MAX_DEBT_TO_EQUITY": 3.0,
        "MIN_PROFIT_MARGIN": 0.0,
        "MIN_CURRENT_RATIO": 1.0,
        "MIN_INTEREST_COVERAGE": 1.25
    },
    "sector_overrides": {
        "Energy": {
            "overrides": {
                "MAX_DEBT_TO_EQUITY": 2.5,
                "MIN_CURRENT_RATIO": 1.2
            },
            "effective_limits": {
                "MAX_DEBT_TO_EQUITY": 2.5,
                "MIN_PROFIT_MARGIN": 0.0,
                "MIN_CURRENT_RATIO": 1.2,
                "MIN_INTEREST_COVERAGE": 1.25
            }
        },
        "Technology": {
            "overrides": {
                "MAX_DEBT_TO_EQUITY": 4.0,
                "MIN_PROFIT_MARGIN": -0.1
            },
            "effective_limits": {
                "MAX_DEBT_TO_EQUITY": 4.0,
                "MIN_PROFIT_MARGIN": -0.1,
                "MIN_CURRENT_RATIO": 1.0,
                "MIN_INTEREST_COVERAGE": 1.25
            }
        },
        "Real Estate": {
            "overrides": {
                "MAX_DEBT_TO_EQUITY": 5.0,
                "MIN_INTEREST_COVERAGE": 1.1
            },
            "effective_limits": {
                "MAX_DEBT_TO_EQUITY": 5.0,
                "MIN_PROFIT_MARGIN": 0.0,
                "MIN_CURRENT_RATIO": 1.0,
                "MIN_INTEREST_COVERAGE": 1.1
            }
        },
        "Financials": {
            "overrides": {
                "MAX_DEBT_TO_EQUITY": 8.0,
                "MIN_CURRENT_RATIO": 0.8
            },
            "effective_limits": {
                "MAX_DEBT_TO_EQUITY": 8.0,
                "MIN_PROFIT_MARGIN": 0.0,
                "MIN_CURRENT_RATIO": 0.8,
                "MIN_INTEREST_COVERAGE": 1.25
            }
        }
    },
    "governance_rules": [
        "Strict capital buffer requirements when VIX > 20",
        "No rating upgrades permitted if financial health check fails",
        "SNC participants must maintain minimum liquidity ratios",
        "Real Estate sector allows higher leverage due to asset backing"
    ]
}