ICAAP Path Interactive · provenance-grade
LVL 03 THE READ
ON YOUR POSITION

Submit your institution's URL or select your portfolio profile. Bearing renders the read against your named position, with trace to source on every claim.

Surface · interactive
Cycle · SSM 2026
Output · provenance-grade

The reads composed at production cadence under contracted deployment look exactly like what follows. The output is provenance-grade, supervisor-defensible, and trace-reachable on every load-bearing claim.

03.ASUBMIT
SUBSTRATE

Name the position

or select your portfolio profile
03.B RENDERED
READ

Example output rendered against the SSM mid-cap archetype. The composition operates against your selected profile in real deployment.

PROVENANCE
GRADE

SUPERVISOR
DEFENSIBLE

TRACE
REACHABLE
A. Position substrate · audited from public substrate (illustrative)
€68B Balance sheet
€42B Loan book exposure
€11B Sovereign holdings
€6.4B Trading book
B. Active configurations against the position · 22 May 2026
Configurations · phase characterisation 3 material · p < 0.05
PHM-CMP-0089Escalating · Day 47
Hormuz Compound
Phase × cluster severity at p < 0.01 against corpus baseline. Cascade through energy infrastructure exposure (€2.4B), insurance underwriting counterparty (€840M), energy-integrated corporate lending (€1.6B).
Trace · 2008 Strait pricing + 2020 shipping cascade + 2022 EU energy
PHM-CMP-0102Absorbing · Day 12
Iran-Russia-Taipei integrated
Cross-compound configuration operating across three structurally interconnected substrates. Cascade through sovereign-bank nexus (€3.2B), cross-border supply chain (€2.1B), integrated energy operations financing (€940M).
Trace · 2008 sovereign cascade + 2020 supply chain + 2022 integrated energy
PHM-CMP-0114Escalating · Day 23
Sovereign-bank nexus pressure
European-periphery sovereign exposure cascade through the bank-sovereign nexus. Cascade through sovereign bond holdings (€4.8B), sovereign-guaranteed lending (€1.2B), sovereign-related counterparty (€680M).
Trace · 2008 sovereign + 2011 European sovereign + 2022 sovereign refinancing
C. Quantification in the supervisor's grammar
SSM mid-cap archetype Compound exposure · 1y outlook 22 May 2026

Credit risk transmission · cumulative across material configurations

PD uplift, 1y energy + sovereign-periphery · escalating regime+220 bps
LGD uplift, 1y · cumulative resolution outcome+14 pp
Expected loss uplift, 1y total€141M – €241M

Market risk transmission

Trading book VaR uplift, 1y · HMM regime+31%
Sovereign-bond VaR uplift+34%
Statistical floor · Kalman re-init at corpus boundaryno projection beyond precedent

Operational risk transmission

Operational loss uplift, 1y infrastructure + supply chain€6M – €18M
D. Threshold positions · current vs. supervisor threshold
Threshold Description Current Threshold Status
Energy concentration Loan book share to energy-integrated counterparties 14.2% 15.0% ▲ Watch
Sovereign-periphery Sovereign bond holdings in periphery jurisdictions €11.0B €10.0B ● Crossed
Trading book VaR 1y VaR uplift under HMM regime characterisation +31% +25% ● Crossed
CET1 buffer Capital buffer above SREP requirement 3.2 pp 2.5 pp ○ Within
E. The honest negative space

What the engine is not characterising

Configurations the engine has not characterised against this position because corpus precedent does not exist, or because position composition substrate is not sufficient. The engine produces a null read, not a forecast, where the substrate does not support resolution. Two configurations currently sit in this state — neither is rendered above; both are reachable in the trace workspace.

CLOSEARCHITECTURE

This is what Bearing produces in a single configuration read against your stated portfolio. Bearing — the deployed product — does this continuously, against your audited Level 1 position, with daily refresh and supervisor-grade trace. It is the standing measurement substrate your ICAAP framework was supposed to have.

CTA Speak to BearingA against your named position. Deployment conversation initiates within four working hours. Speak to BearingA