Money / Instrument

A monetary unit is identified by the authoritative registry identifier of its governing scheme before any locally assigned surrogate. For currencies, funds and precious metals this is the ISO 4217 alphabetic code with its numeric code, published by the Maintenance Agency Secretariat; for digital token units it is the nine-character Digital Token Identifier assigned by the DTI Foundation. Alphabetic codes are reused across time after a unit is withdrawn, so a code alone is not a durable key without a scheme and validity interval.

Questions

1. Which authoritative scheme identifier designates this monetary unit, and what is the code value within that scheme?identity
   Expected answer

   • Code scheme reference (currency code scheme, digital token identifier scheme, national scheme)
   • Alphabetic code value
   • Numeric code value where the scheme defines one
   • Scheme version or amendment reference under which the value is asserted
2. When no governed external identifier exists, what surrogate key is assigned and how is its collision resistance and reuse policy defined?identity
   Expected answer

   • Surrogate identifier value (UUID or ULID)
   • Assigning Dimension namespace
   • Statement of why no governed identifier applies
   • Reuse and retirement policy for the surrogate
3. How is a reused or historically ambiguous code disambiguated between distinct units that carried the same alphabetic code at different times?temporal
   Expected answer

   • Validity interval start and end as RFC 3339 timestamps
   • Predecessor and successor unit references
   • Historic-list membership flag
   • Discriminating attributes such as issuing entity and minor unit
4. Does this identifier denote money, or a fund, precious metal or testing placeholder that must never be treated as spendable money?classification
   Expected answer

   • Monetary versus non-monetary flag
   • Reason code for non-monetary status
   • Downstream handling constraint

Artifacts

• Monetary unit reference recordThe canonical record for one monetary unit, carrying its scheme identifiers, validity interval, kind classification and the amendment reference that last changed it.

Units carried by the same code scheme are not homogeneous. ISO 4217 covers national and supranational currencies, fund codes and precious-metal units, plus a code reserved for transactions where no currency is involved and a code reserved for testing. Statistical classification separates monetary gold and special drawing rights from currency and deposits. Under MiCA, digital units divide into electronic money tokens referencing a single official currency and asset-referenced tokens referencing other values. An agent must know which of these it holds before treating a value as money.

Questions

1. Which unit kind does this record assert - national currency, supranational currency, fund unit, precious-metal unit, special drawing right, special-purpose code or digital token unit?classification
   Expected answer

   • Unit kind code from a controlled vocabulary
   • Assigning taxonomy reference
   • Evidence reference supporting the assignment
2. For a digital token unit, does it reference a single official currency, a basket or other value, or nothing at all, and which regulatory subclass follows?classification
   Expected answer

   • Reference asset or basket composition
   • Regulatory subclass such as electronic money token or asset-referenced token
   • Jurisdiction in which the subclass determination holds
3. What semantics apply when a special-purpose code is present, and which operations must be blocked?constraint
   Expected answer

   • Special-purpose code value
   • Permitted contexts
   • Blocked operations such as amount arithmetic, conversion or settlement
4. Where two authorities classify the same unit differently, which classification governs for a given consumer?exception
   Expected answer

   • Competing classification values with their authorities
   • Precedence rule and its basis
   • Consumer scope to which each classification applies

The SDR is not a currency and not a claim on the IMF. It is an international reserve asset whose value is based on a basket of five currencies (USD, EUR, CNY, JPY, GBP) and it is the unit of account of the IMF and some other international organizations. Only IMF members, the IMF and prescribed official holders may hold SDRs; private persons cannot. 2008 SNA classifies SDRs as AF12. ISO 4217 lists XDR as a code for the SDR. Basket weights and daily valuation are properties of the unit, not market FX quotes owned by this model as a price series.

Questions

1. Is this unit the SDR (XDR), another currency basket, or an ordinary national unit?identity
   Expected answer

   • alphabetic_code
   • unit_kind
   • sna_class
2. Which listed currencies and fixed amounts compose the SDR or other basket, and who may change that composition?composition
   Expected answer

   • basket_currency_codes
   • basket_weights_or_amounts
   • basket_review_authority_ref
3. Which classes of holder are legally eligible to hold this reserve instrument, and are private parties excluded?ownership
   Expected answer

   • eligible_holder_class
   • prescribed_holder_refs

Artifacts

• IMF SDR factsheetDefines SDR as reserve asset and unit of account, not a currency.

The governing scheme publishes a minor unit value that fixes the number of decimal places in which amounts of the unit are normally expressed. The value is not universally two: some units have zero decimal places, some have three, and some entries have no applicable minor unit at all, notably precious metals and fund codes. Minor unit is a property of the unit, not of a payment or an account, and it constrains the scale of every amount denominated in that unit.

Questions

1. What minor unit value does the governing scheme publish for this unit, and is it defined at all?measurement
   Expected answer

   • Minor unit exponent as an integer
   • Not-applicable indicator where the scheme defines none
   • Scheme version from which the value was read
2. From which effective instant does the current minor unit apply, and what value applied before it?temporal
   Expected answer

   • Effective-from timestamp
   • Prior minor unit value
   • Amendment reference that changed it
3. When a target payload permits more or fewer fractional digits than the minor unit, which constraint governs and how is the divergence recorded?interoperability
   Expected answer

   • Payload scale constraint
   • Governing precedence rule
   • Divergence record with justification
4. What is the named subdivision of the unit and does any non-decimal or legacy subdivision remain in force?definition
   Expected answer

   • Subdivision name and ratio to the major unit
   • Non-decimal subdivision description where applicable
   • Status of the subdivision (current, ceremonial, withdrawn)

Artifacts

• Denomination profileA resolved profile per unit giving the effective minor unit, permitted amount scale, the payload scale constraints of each target interoperability profile and the governing precedence when they diverge.

A unit carries an official name in the language of its issuing authority, one or more local or transliterated names, and often a symbol. Presentation - symbol placement, digit grouping, negative-amount styling and the choice between symbol and code - is locale-dependent and must not be confused with the unit's semantics. Storing a rendered string in place of a code destroys the ability to reason about the unit.

Questions

1. What is the official name of the unit and which authority is the source of that name?authority
   Expected answer

   • Official name string with language tag
   • Naming authority reference
   • Source publication and its date
2. Which local, plural or transliterated names and scripts are in authorised use for this unit?definition
   Expected answer

   • Name variants with language and script tags
   • Authorisation basis for each variant
   • Deprecated variants and the date they were deprecated
3. Which symbol is associated with the unit, and how is it disambiguated where the same symbol serves several units?quality
   Expected answer

   • Symbol characters with code points
   • Ambiguity flag and competing units
   • Disambiguation rule such as mandatory code qualification
4. How does the record keep locale presentation separate from the stored value so that formatting never becomes the source of truth?interoperability
   Expected answer

   • Stored canonical form
   • Presentation profile reference by locale
   • Rule prohibiting parsing of rendered strings back into values

Monetary instruments divide by form: physical currency in notes and coin of fixed nominal value that are liabilities of the issuer; transferable deposits exchangeable on demand at par and directly usable for payment; other deposits that are not directly transferable; electronic money as stored monetary value representing a claim on the issuer and issued on receipt of funds; central bank digital currency as a distinct central bank liability intended to coexist with cash; and tokenised units such as electronic money tokens and asset-referenced tokens. Each form carries different claim, transfer and risk properties.

Questions

1. Which instrument form does this class assert, and against which taxonomy is that form defined?classification
   Expected answer

   • Instrument form code
   • Taxonomy reference and version
   • Distinguishing criteria satisfied
2. Which monetary unit denominates this instrument, and can a single instrument class be denominated in more than one unit?relationship
   Expected answer

   • Denomination unit reference
   • Multi-denomination indicator
   • Rule for units permitted per instrument class
3. On what medium, ledger or infrastructure does the instrument's existence depend, and what happens to the instrument if that medium ceases?composition
   Expected answer

   • Medium or ledger reference including digital ledger identifier where applicable
   • Dependency criticality
   • Contingency or migration provision
4. What test distinguishes this instrument from a non-monetary claim such as a loan, voucher, loyalty balance or security token?definition
   Expected answer

   • Inclusion test applied
   • Exclusion criteria and the sibling model that would own the excluded case
   • Evidence supporting the boundary decision

Artifacts

• Instrument class specificationThe governed description of one monetary instrument class: form, denominating unit, medium dependency, transfer properties, issuer reference and the evidence supporting its classification.

Whether and how value in the instrument can pass from one party to another: bearer versus registered form, negotiability, fungibility between units of the same class, divisibility down to the minor unit or below, offline transferability, and whether transfer requires the issuer's or an operator's participation. These properties determine what a transfer of the instrument can even mean before any rail is chosen.

Questions

1. Is the instrument transferable in bearer form, or does transfer require registration, issuer involvement or operator participation?constraint
   Expected answer

   • Bearer or registered indicator
   • Parties whose participation is required for transfer
   • Legal basis for the transfer mechanism
2. Are units of this instrument class fully fungible with each other, and what conditions break fungibility?classification
   Expected answer

   • Fungibility indicator
   • Conditions that break fungibility such as series, taint or encumbrance
   • Consequence for valuation and substitution
3. What is the smallest transferable quantity of the instrument, and is it the same as the unit's minor unit?measurement
   Expected answer

   • Minimum transferable quantity
   • Relationship to the denominating unit's minor unit
   • Handling of sub-minimal residuals
4. Can value in this instrument be transferred without connectivity to the issuer or ledger, and under what limits?requirement
   Expected answer

   • Offline transfer capability indicator
   • Value or count limits applying offline
   • Reconciliation obligation after reconnection

BIS FSI defines CBDCs as a direct liability of the central bank. Retail CBDC is intended for the general public; wholesale CBDC is for financial intermediaries and is like reserves with tokenisation features. Tokenisation is digital representation of a claim on a programmable platform. Architectures include one-tier, pure two-tier/intermediated and hybrid models. BIS legal analysis warns that rCBDC is not a perfect replica of cash because it is intangible, needs a technical system, and may have holding limits, programmability, interest or a contractual user relationship, so classifying it as cash, deposit or e-money imports the wrong legal regime unless lawmakers choose that result. Designation as currency and legal tender may strengthen its monetary-anchor function but is a legal choice. Payment execution on a CBDC platform remains WM-ECO-009; wallets remain WM-ECO-015.

Questions

1. Is this instrument retail CBDC, wholesale CBDC, tokenised commercial-bank money, or e-money, and is it a direct central-bank liability?classification
   Expected answer

   • cbdc_audience
   • issuer_class
   • token_or_account
2. Does this CBDC create a new instrument class or reuse cash, deposit or e-money legal rules, and which sibling owns wallets and payments?composition
   Expected answer

   • architecture_model
   • legal_regime_choice
   • payment_model_ref
   • account_model_ref
3. Which holding caps, programmability, interest, identity and offline rules attach to the instrument class itself?constraint
   Expected answer

   • holding_cap
   • programmable
   • interest_bearing
   • offline_capable

Artifacts

• BIS FSI CBDC taxonomy and architecture modelsRetail/wholesale split, liability nature and architecture choices.

Every monetary instrument other than a purely decentralised token has an issuer that is a legal entity and that carries the resulting liability. The issuer is referenced by a governed global entity identifier, not by name. The authority to issue derives from a legal basis - treaty or statute for a central bank, an authorisation regime for an electronic money institution, or a crypto-asset authorisation for a token issuer - and that basis is itself evidence that must be recorded and can lapse.

Questions

1. Which governed entity identifier designates the issuer, and which register was used to verify it?identity
   Expected answer

   • Legal entity identifier value
   • Registration status and next renewal date
   • Verification register reference and lookup timestamp
2. On what legal basis does this entity have authority to issue the instrument, and in which jurisdictions does that basis hold?authority
   Expected answer

   • Legal instrument or authorisation reference
   • Issuing jurisdiction references
   • Validity period of the authority
3. Where issuance, distribution, custody and ledger operation are performed by different entities, which entity holds which role?ownership
   Expected answer

   • Role assignments with entity references
   • Role definitions and their source
   • Liability allocation between roles
4. If the instrument has no identifiable issuer, how is the absence recorded and what downstream constraints follow?exception
   Expected answer

   • Issuerless indicator with justification
   • Substitute accountability arrangement if any
   • Constraints on treating the instrument as a claim

Artifacts

• Issuer authority dossierEvidence set binding the instrument class to its issuer: entity identifier verification result, authorisation or legal-basis citation, role allocation and the observation timestamps at which each was confirmed.

What the holder actually owns differs sharply by form. Physical currency is a liability of the issuer at fixed nominal value. Electronic money is stored monetary value representing a claim on the issuer, issued on receipt of funds and redeemable on request. A stablecoin arrangement is expected to give a robust legal claim against the issuer or the reserve assets, redemption at par for single-currency arrangements, reserve assets that are unencumbered and readily convertible, and an effective stabilisation mechanism. Absence of a claim is itself a material, recordable fact.

Questions

1. Against whom does the holder hold a legal claim, and is that claim against the issuer, the reserve assets, or neither?relationship
   Expected answer

   • Claim counterparty reference
   • Claim type and enforceability basis
   • Governing law and forum
2. On what terms can the instrument be redeemed - at what value, within what period, subject to what fees or minimum amounts?requirement
   Expected answer

   • Redemption value basis such as par or nominal
   • Maximum redemption period
   • Fees, minimums and conditions
   • Legal or contractual source of the obligation
3. What assets back the instrument, how are they segregated and safeguarded, and how frequently is their composition disclosed?evidence
   Expected answer

   • Reserve asset composition by class
   • Segregation and custody arrangement
   • Attestation or audit reference with its date
   • Disclosure frequency
4. What stabilisation mechanism maintains value, and what is the documented behaviour when it fails or redemption is suspended?exception
   Expected answer

   • Stabilisation mechanism description
   • Suspension triggers and authority to suspend
   • Historical de-pegging or suspension events with timestamps

Artifacts

• Backing and redemption attestationA dated third-party or issuer attestation of reserve composition, segregation and redemption capability, retained as the evidence basis for claim and backing assertions.

PFMI Principle 9 requires money settlements in central bank money where practical and available, and requires strict control of credit and liquidity risk where commercial bank money is used instead. Stablecoin guidance recognises a third case: settlement assets that are neither central bank nor commercial bank money and that carry additional financial risk. Classifying the instrument into one of these classes, with its credit and liquidity risk attributes, is a property of the instrument and is needed before any rail selection.

Questions

1. Is this instrument central bank money, commercial bank money, or a settlement asset that is neither?classification
   Expected answer

   • Settlement asset class code
   • Basis for the classification
   • Reference to the principle or guidance applied
2. What credit and liquidity risk does a holder or receiver bear when accepting this instrument in settlement?measurement
   Expected answer

   • Credit risk characterisation and counterparty
   • Liquidity risk characterisation including convertibility to central bank money
   • Risk-control measures documented by the issuer or arrangement
3. To which categories of party is this settlement asset available, and is availability restricted to eligible institutions?access
   Expected answer

   • Eligible holder categories
   • Eligibility criteria and authority setting them
   • Wholesale versus retail availability indicator
4. If this settlement asset becomes unavailable, what substitute is designated and on what authority?exception
   Expected answer

   • Designated substitute asset reference
   • Trigger conditions for substitution
   • Authority that may declare substitution

Two distinct properties are often conflated. Legal tender status confers, in principle, mandatory acceptance at full face value with power to discharge a payment obligation, subject to good-faith refusal, contractual agreement on other means, and anti-money-laundering limits. Settlement finality is the irrevocability and unconditionality of a transfer under an arrangement's rules and legal basis. This model records the instrument-side contribution: what the delivery of the instrument itself accomplishes in law. The transfer arrangement that confers finality is owned by the payment model.

Questions

1. Does delivery of this instrument discharge a monetary obligation in a given jurisdiction, and on what legal basis?authority
   Expected answer

   • Discharge effect indicator per jurisdiction
   • Legal basis citation
   • Conditions or exceptions to discharge
2. Does finality for this instrument arise from the instrument itself or only from the rules and legal basis of a transfer arrangement?relationship
   Expected answer

   • Source of finality (instrument-intrinsic or arrangement-conferred)
   • Referenced arrangement identifier where applicable
   • Statement of what this model does not assert about the arrangement
3. After delivery of the instrument, under what circumstances can the transfer of value still be unwound?state
   Expected answer

   • Reversal grounds such as fraud, error or insolvency claw-back
   • Time window and authority for reversal
   • Jurisdictional variation
4. On what grounds may a creditor lawfully refuse this instrument despite its status?exception
   Expected answer

   • Refusal grounds and their legal source
   • Quantitative acceptance limits such as coin count caps
   • Contractual override provisions

Artifacts

• Discharge status assertionA dated, jurisdiction-scoped assertion of the instrument's discharge and acceptance effect, citing the legal instrument relied on and recording both the effective date of the law and the observation date of the assertion.

Legal tender status is conferred by specific legal instruments and its effects are not defined uniformly. In the euro area, treaty provisions confer status on banknotes and a Council regulation on coins, while the concept itself is defined through recommendation and case law as mandatory acceptance at full face value with power to discharge. The same regulation caps obligatory acceptance at fifty coins in a single payment, proving that legal tender is quantitatively bounded. Status must therefore be asserted per jurisdiction, per instrument form, with its limits.

Questions

1. In which jurisdictions does this instrument hold legal tender status, and which legal instrument confers it?authority
   Expected answer

   • Jurisdiction reference
   • Conferring legal instrument citation
   • Instrument forms covered such as notes or coin
2. What quantitative limits bound the obligation to accept, such as caps on coin counts or cash payment thresholds?constraint
   Expected answer

   • Limit type and numeric threshold
   • Legal source of the limit
   • Parties exempt from the limit
3. When did the current legal tender status take effect, and what status preceded it?temporal
   Expected answer

   • Effective-from timestamp with offset
   • Prior status value
   • Legal act that changed it
4. For instruments without legal tender status, what governs acceptance and how is that recorded distinctly from tender status?definition
   Expected answer

   • Acceptance basis such as contract or scheme rule
   • Explicit non-tender indicator
   • Scope of parties bound by the acceptance basis

A unit's jurisdictional footprint is not the same as its issuer's jurisdiction. A currency may be substituted for national units across a monetary union, adopted unilaterally by a jurisdiction that does not issue it, circulate alongside a domestic unit, or be lawful in dependent territories on different terms. This finding records the set of jurisdictions in which the unit functions as money and the basis on which it does so.

Questions

1. Which jurisdictions and territories use this unit as money, and on what basis does each do so?spatial
   Expected answer

   • Jurisdiction references
   • Basis code such as issuing jurisdiction, monetary union member, unilateral adoption or pegged parallel use
   • Effective period per jurisdiction
2. Which authority exercises monetary sovereignty over the unit, and is that authority distinct from the users of the unit?ownership
   Expected answer

   • Monetary authority entity reference
   • Territory over which authority is exercised
   • Territories using the unit outside that authority's control
3. Does another monetary unit circulate in parallel in any of these territories, and how are the two related?relationship
   Expected answer

   • Parallel unit references
   • Relation type such as peg, dual circulation or transitional coexistence
   • Transitional end date where applicable
4. What accession, substitution or secession events changed the territorial footprint, and when did each take legal effect?event
   Expected answer

   • Event type
   • Legal effect timestamp with offset
   • Superseded unit reference
   • Amendment or legal act reference

Artifacts

• Territorial validity mapA versioned mapping of monetary unit to jurisdictions with usage basis and effective periods, derived from code-list entity data and legal acts, used to answer whether a unit is lawful money in a given place at a given time.

Issuing electronic money or a token that references an official currency is a regulated activity in many jurisdictions, subject to authorisation, prudential requirements including own funds and safeguarding of received funds, and ongoing supervision. Authorisation is granted by a named competent authority, has a register entry, can be passported across a union, and can be varied, suspended or withdrawn. The current status is a time-bounded fact requiring its own observation timestamp.

Questions

1. Under which authorisation regime and register entry is the issuer permitted to issue this instrument?authority
   Expected answer

   • Regime citation
   • Competent authority reference
   • Register entry identifier and register URL
   • Authorisation grant date
2. What is the current authorisation state, and when was that state last verified against the register?state
   Expected answer

   • Status value such as authorised, restricted, suspended or withdrawn
   • Status effective timestamp
   • Observation timestamp of the register check
3. Across which additional jurisdictions does the authorisation extend by passporting or recognition, and under what conditions?access
   Expected answer

   • Host jurisdiction references
   • Recognition mechanism
   • Conditions or carve-outs
4. How is an instrument recorded when its issuer is unauthorised, unregulated or outside any authorisation regime?exception
   Expected answer

   • Unregulated indicator with justification
   • Known supervisory warnings or enforcement references
   • Downstream handling constraints

Artifacts

• Authorisation verification recordAn append-only record of each check of the issuer's authorisation against a public register, capturing the register queried, the result, the status effective date and the observation instant.

Restrictions bound how much of an instrument may be held, whether it may be converted, and who may use it. Sources include design decisions such as holding limits contemplated for retail central bank digital currency, convertibility controls imposed by monetary authorities, prohibitions on interest-bearing use, and restrictive measures against specified parties. These are properties of the unit or instrument in a jurisdiction, not of any one account, and they must be time-bounded and jurisdiction-scoped.

Questions

1. What limits apply to how much of this instrument a party may hold, and to which party categories do they apply?constraint
   Expected answer

   • Limit value and unit
   • Party categories in scope
   • Authority imposing the limit
   • Effective period
2. Is conversion of this unit into other units restricted, and by what mechanism - controls, licensing, quotas or suspension?constraint
   Expected answer

   • Restriction type
   • Restricted counter-units
   • Licensing or exemption path
   • Effective period
3. Which restrictive-measure or sanctions regimes affect the unit, instrument or issuer, and where is the authoritative list held?security
   Expected answer

   • Regime reference
   • Authoritative list locator
   • Scope of the measure
   • Observation timestamp of the check
4. When restrictions from different authorities conflict, which prevails for a given party and transaction context?decision
   Expected answer

   • Competing restriction references
   • Precedence rule and its legal basis
   • Residual risk statement where no precedence exists

The governing registry maintains current codes separately from historic denominations, and each change is issued as a numbered amendment with an effective date. A unit therefore moves through states - announced, current, superseded, historic - and the model must record both the date the change takes legal or registry effect and the date the local record observed it, because these differ and downstream restatements depend on the distinction.

Questions

1. What lifecycle state does this unit occupy, and which registry list is it currently carried on?state
   Expected answer

   • Lifecycle state value
   • Registry list membership (current or historic)
   • State effective timestamp with offset
2. Which numbered amendment introduced or retired this unit, and when was it issued versus when did it take effect?provenance
   Expected answer

   • Amendment number
   • Amendment issue timestamp
   • Effective timestamp
   • Amendment document locator
3. When did the local record first observe this state, and what lag existed between the effective instant and the observation instant?temporal
   Expected answer

   • Observation timestamp with offset
   • Computed lag duration
   • Ingestion process reference
4. How is a unit handled between its announcement and its effective date, when both the old and new unit are valid for different purposes?lifecycle
   Expected answer

   • Pre-effective state marker
   • Permitted uses during the transition window
   • Dual-validity end timestamp

Artifacts

• Unit amendment feedAn ordered, append-only feed of registry amendments affecting monetary units, each carrying an amendment ordinal, issue instant, effective instant, affected unit codes and the source document locator.

When a unit is replaced, historical amounts must remain interpretable. Euro introduction supplies the normative pattern: continuity of legal instruments is preserved, conversion rates are fixed and irrevocable, expressed as one unit of the new currency in terms of the old with six significant figures, and inverse or derived rates must not be substituted. Redenomination without substitution - dropping zeros in a currency reform - raises the same restatement problem with a different mechanism.

Questions

1. Which unit succeeds this one, and what is the fixed conversion factor and its direction of expression?relationship
   Expected answer

   • Successor unit reference
   • Fixed conversion factor with its significant figures
   • Direction of expression
   • Legal act establishing the factor
2. What rule preserves continuity of instruments and obligations expressed in the retired unit?requirement
   Expected answer

   • Continuity provision citation
   • Scope of instruments covered
   • Party rights to terminate or renegotiate, if any
3. Must historical records be restated into the successor unit, or preserved in the original unit with the mapping applied at read time?decision
   Expected answer

   • Restatement policy
   • Retention rule for original-unit values
   • Audit trail requirement for restated values
4. During a changeover period, how are amounts, prices and obligations disambiguated between the retiring and successor units?lifecycle
   Expected answer

   • Changeover window start and end timestamps
   • Mandatory unit qualification rules
   • Dual-display or dual-pricing obligations

Artifacts

• Succession mapping tableA versioned table mapping retired units to successors with fixed conversion factors at full precision, the legal act establishing each factor, and the changeover window, used to restate or interpret historical amounts.

An instrument class is issued in series with defined denomination sets. Euro banknotes illustrate this: a first series of seven denominations and a second series in which one denomination was not continued. For token instruments the analogue is the deployed contract version and the ledger on which it is deployed, together with fork history. Series identity matters because acceptance, exchange and validation rules can differ by series.

Questions

1. Which series exist for this instrument class and what denomination set does each carry?composition
   Expected answer

   • Series identifier and name
   • Denomination face values in the denominating unit
   • Series introduction timestamp
2. Is each series still being issued, and if issuance ceased, when and by whose decision?state
   Expected answer

   • Issuance state per series
   • Cessation timestamp with offset
   • Deciding authority and decision reference
3. For a ledger-based instrument, which contract or protocol version and ledger identify the current series, and what fork or migration history precedes it?provenance
   Expected answer

   • Digital ledger identifier
   • Contract or protocol version reference
   • Fork or migration events with effective timestamps
4. What series-specific authentication or validation features must a verifier check, and where is the specification published?validation
   Expected answer

   • Feature list per series
   • Verification specification locator
   • Feature deprecation timeline

Artifacts

• Instrument series catalogueA catalogue of series for an instrument class with denomination sets, issuance states, introduction and cessation instants, and references to the applicable authentication or contract specifications.

Ceasing to issue an instrument is distinct from removing its legal tender status, and both are distinct from ending the ability to exchange it. A denomination may stop being issued while remaining legal tender and exchangeable indefinitely at the issuing central banks. For electronic money and tokens, the corresponding event is termination of the issuance programme with a redemption obligation that survives it. Conflating these three transitions produces incorrect conclusions about whether value can still be realised.

Questions

1. Has issuance ceased, has legal tender status ended, or both - and on what dates did each occur separately?lifecycle
   Expected answer

   • Issuance cessation timestamp
   • Legal tender cessation timestamp
   • Deciding authority per transition
2. Until when, where and by whom can the instrument still be exchanged for current money, and is the guarantee open-ended?temporal
   Expected answer

   • Exchange deadline or open-ended indicator
   • Exchanging entities and locations
   • Exchange value basis and any deductions
3. For a terminated electronic money or token programme, what redemption obligation survives and how is it funded?requirement
   Expected answer

   • Surviving redemption obligation citation
   • Funding or reserve arrangement after termination
   • Claim procedure and time limit
4. What becomes of value never presented for exchange, and who acquires the benefit?retention
   Expected answer

   • Treatment of unpresented value
   • Beneficiary and legal basis
   • Record retention period for terminated series

A monetary amount is inseparably a numeric value plus a reference to the unit that denominates it; a bare number is not an amount. Financial messaging types bind the two together and impose their own total and fractional digit limits, which may be narrower than the unit's minor unit. Sign conventions, zero and the prohibition on binary floating point for exact decimal values are part of the value object's contract, not of any consuming model.

Questions

1. How is the numeric value bound to its unit reference so that the pair cannot be separated in transit or storage?composition
   Expected answer

   • Value and unit reference pair structure
   • Prohibition on bare numeric amounts
   • Serialisation constraint per projection
2. What scale is permitted for this amount, given the unit's minor unit and the narrower limits of the target payload type?constraint
   Expected answer

   • Unit minor unit
   • Payload total and fraction digit limits
   • Governing effective scale and its derivation
3. What numeric representation preserves exactness, and what representations are prohibited?requirement
   Expected answer

   • Required decimal representation
   • Prohibited representations such as binary floating point
   • Overflow and precision-loss handling
4. What do a negative amount and a zero amount mean in this model, and where must direction be carried instead?definition
   Expected answer

   • Sign semantics
   • Zero-amount semantics
   • Statement that debit or credit direction belongs to the consuming model

Artifacts

• Monetary amount value-object schemaThe format-neutral contract for a monetary amount - value, unit reference, scale and representation constraints - together with per-projection binding rules for messaging, document and database targets.

Conversion arithmetic is legally constrained in at least one authoritative case: the conversion rate must not itself be rounded or truncated, inverse rates derived from it must not be used, and a converted result landing exactly halfway is rounded up. Beyond conversion, allocation of a total across parts must not create or destroy value, which requires an explicit remainder rule. These rules belong to the amount, not to any consuming process, so that all consumers round identically.

Questions

1. Which rounding mode applies to a converted or computed amount, and what is its normative source?requirement
   Expected answer

   • Rounding mode identifier
   • Normative source citation
   • Scope of application and any jurisdictional variation
2. How is the full published precision of a rate preserved through the computation, and what intermediate rounding is prohibited?constraint
   Expected answer

   • Rate significant figures as published
   • Prohibition on rounding or truncating the rate
   • Prohibition on derived inverse rates
   • Permitted intermediate precision
3. When a total is allocated across parts, what rule assigns the remainder so that the parts sum exactly to the total?process
   Expected answer

   • Allocation algorithm identifier
   • Remainder assignment rule
   • Determinism and reproducibility requirement
4. How is a divergence between this model's rounding result and a counterparty's result detected, evidenced and resolved?evidence
   Expected answer

   • Comparison procedure
   • Tolerance threshold
   • Discrepancy record with both inputs and both results
   • Escalation path

Artifacts

• Monetary arithmetic rule profileA named, versioned profile fixing rounding mode, rate-application constraints and allocation rules for a jurisdiction or scheme, referenced by every consumer so results are reproducible across implementations.

A rate is meaningless without an ordered pair, a quotation convention, a rate type and a provenance record. Rate types differ fundamentally: a legally fixed conversion factor is irrevocable and directional, while a published reference rate is an observation computed at a stated time under a stated procedure and may carry an explicit caveat against use for transactions. Publication can also be suspended for a pair when representative rates cannot be established, so a rate reference must record availability as well as value.

Questions

1. Which ordered pair does the rate express and in which direction is the quotation stated?definition
   Expected answer

   • Base unit reference
   • Quote unit reference
   • Quotation direction and units-per-unit convention
2. Is this a legally fixed conversion factor, a published reference rate, a scheme rate or a transacted rate?classification
   Expected answer

   • Rate type code
   • Establishing authority or publisher
   • Irrevocability indicator
3. At what instant was the rate determined and at what instant published, and in which time zone was each stated?temporal
   Expected answer

   • Determination timestamp with offset
   • Publication timestamp with offset
   • Originating time zone as published
   • Ingestion timestamp
4. What does the publisher say the rate may and may not be used for, and what fallback applies when it is unavailable?quality
   Expected answer

   • Publisher usage caveat verbatim reference
   • Permitted and prohibited uses
   • Fallback rate source and trigger
   • Suspension record for the pair where applicable

Artifacts

• Rate reference snapshotAn immutable snapshot of rates for a set of pairs as published by one source, carrying determination, publication and ingestion instants, the publisher's usage caveat, and an availability status per pair including suspension.

Different facts in this model have different masters: the currency code and minor unit are governed by the ISO 4217 maintenance agency secretariat, digital token identifiers by the DTI registration authority, entity identifiers by the LEI issuer network, legal tender by legislators, and authorisation by competent authorities. The local record is a derived copy that must name its master per field, track that master's amendment stream, and name a steward accountable for the copy. The registry names the holder and settlement rail operator as maintainers; for the unit and instrument definitions themselves the accountable steward is the issuing or maintaining authority's designated counterpart in the adopting Dimension.

Questions

1. For each governed field, which external body is the master and what is the locator of the source of record?provenance
   Expected answer

   • Field-to-master mapping
   • Source locator per master
   • Source version or amendment reference
   • Retrieval timestamp
2. How does the local record learn of amendments at each master, and what is the maximum acceptable staleness?process
   Expected answer

   • Change-detection mechanism per master
   • Polling or notification cadence
   • Maximum staleness threshold and breach action
3. Who is accountable for the correctness of this local record, and what decisions may they take without the master's involvement?ownership
   Expected answer

   • Steward role and entity reference
   • Decision rights and their limits
   • Escalation path to the master
4. Which fields are copied from a master and which are locally asserted judgements, and how is the difference made visible to consumers?quality
   Expected answer

   • Derivation flag per field
   • Basis for each local assertion
   • Consumer-visible marking convention

Artifacts

• Provenance ledgerAn append-only ledger recording, for each change to the local record, the master source, source version, retrieval instant, ingestion instant, the effecting agent or process and the resulting record version.

The same economic thing can be identified in several schemes at once - a token pegged to an official currency may carry a digital token identifier while also referencing an ISO 4217 code, and national schemes may use codes that clash with the international list. Alignment is a mapping with a stated equivalence strength, not a claim of conformance. Where schemes disagree - for example on whether a unit is money at all, or on effective dates for a substitution - the conflict is recorded and neither side is silently preferred.

Questions

1. Which external scheme identifiers map to this unit or instrument, and what is the equivalence strength of each mapping?interoperability
   Expected answer

   • Target scheme reference and identifier value
   • Equivalence strength such as exact, broader, narrower or related
   • Mapping author and review timestamp
2. What evidence supports any claim of conformance to an external standard, and where is only alignment claimed?evidence
   Expected answer

   • Conformance evidence reference such as certification or test results
   • Explicit alignment-only marker where no evidence exists
   • Standard clause coverage summary
3. Where two schemes disagree about this unit or instrument, how is the conflict recorded and surfaced to consumers?exception
   Expected answer

   • Conflicting assertions with their scheme references
   • Conflict category
   • Resolution status and any interim guidance
4. How is drift handled when one scheme publishes a change that another has not yet reflected?temporal
   Expected answer

   • Per-scheme version and effective instants
   • Drift duration
   • Interim mapping behaviour

Artifacts

• Alignment crosswalkA versioned crosswalk between this model's unit and instrument records and external code schemes, carrying equivalence strength, evidence pointers, and an explicit conflict register.

Messaging standards bind amount and currency together in dedicated data types and externalise volatile code sets that are republished on their own cadence. Projecting this model into a payload therefore constrains scale, code-set membership and the permitted set of codes, and a projection that silently truncates or substitutes is a defect. Storage and interface choices - documents, message schemas, tool interfaces or database collections - are projections that must round-trip the semantics defined here.

Questions

1. For each target projection, what binding rules govern how a unit reference and an amount are rendered and parsed?interoperability
   Expected answer

   • Projection identifier
   • Field bindings for value, unit and scale
   • Round-trip test reference
2. Which externalised code sets does a projection depend on, and how is their republication cadence tracked?composition
   Expected answer

   • Code set names and locators
   • Published version and effective instant
   • Update cadence and tracking mechanism
3. What information defined in this model cannot be carried by a given projection, and how is that loss disclosed?constraint
   Expected answer

   • Unrepresentable elements per projection
   • Disclosure mechanism to consumers
   • Compensating out-of-band carriage where used
4. How does a projection behave when it encounters a unit code that its bound code set does not contain?exception
   Expected answer

   • Rejection or quarantine behaviour
   • Error signalling convention
   • Remediation path and responsible role

Artifacts

• Projection binding profilePer-target binding profile with field mappings, code-set version pins, lossiness disclosure and executable round-trip fixtures proving semantic preservation.

Monetary reference data admits strong mechanical checks: code format and check-character validation for identifiers that define one, cross-checking alphabetic against numeric codes, verifying minor unit against the authoritative list, confirming that an amount's scale satisfies both unit and payload constraints, and confirming that an entity identifier resolves in its register with an active status. Each check produces evidence with its own observation timestamp, distinct from the effective time of the fact checked.

Questions

1. Which validation rules apply to this record, and which are blocking versus advisory?validation
   Expected answer

   • Rule identifiers and definitions
   • Severity classification
   • Rule version and its source
2. What evidence is retained for each validation run, and how are effective time and observation time recorded separately?evidence
   Expected answer

   • Rule outcome per record
   • Observation timestamp with offset
   • Effective timestamp of the fact validated
   • Validator identity and version
3. What happens to a record that fails a blocking rule - is it quarantined, superseded, or published with a defect marker?process
   Expected answer

   • Disposition state
   • Responsible role
   • Remediation deadline and escalation
4. How is a record detected as stale relative to its master, and what confidence signal is exposed to consumers?quality
   Expected answer

   • Staleness measure and threshold
   • Last successful reconciliation instant
   • Consumer-facing confidence indicator

Artifacts

• Validation reportA per-run report of rule outcomes across the reference set, with validator version, observation instant, failure dispositions and staleness measures per master source.

Most of this model is public reference data that authoritative bodies publish free of charge and permit free reuse, which argues for open read access. But not all of it is: authorisation checks, restrictive-measure linkages, reserve attestations and supplier-licensed rate feeds carry licence, confidentiality or redistribution constraints. Retention is asymmetric to deletion: superseded unit states and succession mappings must be kept indefinitely to keep historical amounts interpretable, while cached third-party feeds may be subject to contractual deletion.

Questions

1. Which parts of the record may be published openly and under what licence or reuse terms from the upstream source?access
   Expected answer

   • Publishable field set
   • Upstream licence or reuse statement
   • Attribution requirement
   • Redistribution restrictions
2. Which attributes are restricted, on what basis, and to which roles are they visible?privacy
   Expected answer

   • Restricted attribute list
   • Restriction basis such as licence, confidentiality or supervisory sensitivity
   • Permitted roles and purposes
3. How long are superseded unit states, succession mappings and rate snapshots retained, and what justifies indefinite retention?retention
   Expected answer

   • Retention period or indefinite marker per class
   • Justification tied to historical interpretability
   • Storage tier and immutability guarantee
4. Under what circumstances may data be deleted, and what must survive deletion to preserve the audit chain?retention
   Expected answer

   • Deletion triggers such as licence expiry or contractual obligation
   • Tombstone content that survives
   • Approval role for deletion
5. What access events are logged, and how long is the access log itself retained?security
   Expected answer

   • Logged event types
   • Log fields including actor, scope and timestamp with offset
   • Log retention period and immutability

Artifacts

• Publication and retention policyThe governed policy binding each record class to a publication classification, upstream licence constraint, retention rule and deletion trigger, with the approval role for exceptions.