CMR · COMMON MINIMUM
Regional-financing durability
CEMAC anchor weaker than any prior pilot; reduce the need, not the lean.
Binding constraint: CEMAC regional financing squeeze. Governed mechanism: Regional financing squeeze. Full depth ships on the portfolio schedule.
What changed
- 2026-07-01 — Minimum estate openedGoverned mechanism: Regional financing squeeze
Call · posture · falsifiers
Regional-financing durability
Monitor binding constraint; prepare contingencies.
CEMAC anchor weaker than any prior pilot; reduce the need, not the lean.
- Confirmation of the binding-constraint relief path
- Material deterioration of the governed mechanism