{
  "allocation_bounds": {
    "bucket_bounds": [
      {
        "bucket_id": "EQ_US_LG",
        "maximum": 0.5,
        "minimum": 0.0
      },
      {
        "bucket_id": "EQ_US_SM",
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        "minimum": 0.0
      },
      {
        "bucket_id": "EQ_DEV",
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      },
      {
        "bucket_id": "EQ_EM",
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      },
      {
        "bucket_id": "FI_CORE",
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      },
      {
        "bucket_id": "FI_DUR",
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        "minimum": 0.0
      },
      {
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      },
      {
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      },
      {
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        "minimum": 0.0
      },
      {
        "bucket_id": "REAL_GOLD",
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      },
      {
        "bucket_id": "REAL_CMDTY",
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        "minimum": 0.0
      },
      {
        "bucket_id": "CASH",
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    ],
    "cash_maximum": 0.4,
    "cash_minimum": 0.0,
    "credit_cap": 0.4,
    "default_asset_maximum": 0.35,
    "default_asset_minimum": 0.0,
    "duration_cap": 0.6,
    "equity_cap": 0.8,
    "risk_asset_cap": 0.85
  },
  "allocator_controls": {
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    "minimum_score_difference_to_trade": 0.02,
    "regime_smoothing_alpha": 0.3,
    "softmax_temperature": 1.0
  },
  "cash_treatment": {
    "asset_id": "ETF_SHY",
    "compounding": "simple",
    "day_count": "actual/365",
    "investable": true,
    "return_type": "total_return",
    "risk_free_proxy": true,
    "safe_sink": true
  },
  "cost_model": {
    "commission_bps": 5.0,
    "slippage_bps_by_bucket": {
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      "CR_HY": 8,
      "CR_IG": 4,
      "EQ_DEV": 3,
      "EQ_EM": 8,
      "EQ_US_LG": 2,
      "EQ_US_SM": 3,
      "FI_CORE": 2,
      "FI_DUR": 2,
      "FI_TIPS": 3,
      "REAL_CMDTY": 10,
      "REAL_GOLD": 3
    },
    "stress": {
      "crisis_multiplier": 3.0,
      "crisis_threshold": 35.0,
      "enabled": true,
      "normal_multiplier": 1.0,
      "stress_threshold": 25.0,
      "stressed_multiplier": 2.0,
      "trigger_feature": "vix_level"
    }
  },
  "integrity": {
    "fail_closed": true,
    "hold_prior_override_supported": true,
    "maximum_macro_staleness_days": 5,
    "maximum_missing_feature_fraction": 0.05,
    "maximum_price_staleness_trading_days": 2,
    "minimum_eligible_assets": 8,
    "minimum_history_days": 756
  },
  "policy_hash": "3faadabdf71da180",
  "policy_version": "v0.1.0",
  "schema_version": "0.1",
  "turnover": {
    "absolute_no_trade_band": 0.01,
    "maximum_sum_absolute_weight_change": 0.35,
    "shrink_to_cap": true
  }
}