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Securitization

CRI (real-estate), CRA (agribusiness) and OTS (other) certificates, each a slice of a receivables pool (CVM, monthly, 1 to 2 months lag). These are not funds: no NAV, quotaholders or returns. The trend is stock outstanding as re-stated each month, not new issuance. Related: FIDC Credit Monitor, Suspicious Deal Screens.

Series Em Atraso is a share of the series count, not of value. CVM files Situacao as Adimplente or Em atraso, never "Inadimplente"; CRI filings before 2022-07 carry no status, so those series are left out of the share, not counted as current. Every figure here counts series whose latest filing is in the As Of month or the month before; As Of is the newest month holding at least half the previous month's series.

Reported Value by Instrument Family

Monthly valor_certificados by family, from security_issuance_trend() (CVM, monthly, 1 to 2 months lag): stock outstanding, not new issuance. A step can be new deals, redemptions or a change in who filed. A month still receiving filings is left out, not drawn as a drop.

Other Status counts series whose status is neither Adimplente nor Em atraso. It is 0 today; anything else means CVM filed a status this page does not classify.

Maturity Wall

Outstanding value by maturity year, from the latest filing of each live series (CVM, monthly). Built from cvm_securit_serie, not security_maturity_ladder(), which reads dim_security (no valor_certificados) and hardcodes total_value to NULL.

The ladder runs 15 years forward only. Series past maturity or with no maturity date are counted separately below; the past-maturity series are listed on Suspicious Deal Screens.

Payment Waterfall

Each month's collections across the whole book, from cvm_securit_fluxo (CVM, monthly, 1 to 2 months lag). Payments go out in priority order: expenses, senior, mezzanine, junior. All legs are positive, as filed.

Paid / Collected above 100% means more paid out than collected that month, normal when an amortisation date draws on reserves, worth a look if it persists. A month with filings but no payment figures is blank, never zero.

Credit Ratings

classificacao_risco_atual is free text as filed (CVM, monthly), grouped verbatim: merging brAAA and AAA(bra) would be an assumption, not data.

Subordination Structure

Tranche classes as filed in classe (CVM, monthly). Índice Subord. Mínimo is shown unscaled: CVM does not document whether it is a fraction or a percentage. Series w/ Nível reads 0 because nivel_subordinacao exists in schema.sql but no FIELD_MAP entry populates it; it is counted so the gap stays visible.

Distressed Series

Series whose latest filing carries a distressed situacao (Inadimplente, Em atraso or Cancelado), from distressed_securities() (CVM, monthly), largest first. An empty table means none at the latest period, not that the check did not run. Collected and Paid are filed per certificate, not per series, so series of one certificate repeat the same figures: do not add them across rows.

Financial Statement Coverage

Coverage only, by design. cvm_securit_dfin parses one column, cnpj_securit; every statement line is unparsed in raw (CVM, yearly). Charting revenue or equity would mean inventing it, so this counts filings.

Blank years are not yet fetched; dfin_cri starts at 2018 and dfin_cra at 2019 upstream (src/fetchers/cvm_config.py). Fetch status: Pipeline Ops.