Stressing one advance rate and watching blended move

Hold every market value still and raise Meridian's advance rate from 50 percent to 63 percent. Meridian's lending value becomes 1,838,300 × 0.63 = $1,158,129. The delta against the printed $919,150 is $238,979. The pool's lending value becomes 3,277,251.25 + 238,979 = $3,516,230.25. The blend becomes 3,516,230.25 ÷ 6,032,795 = 0.58285, which is 58.29 percent.

The blend rose 3.97 points. Thirteen points on one row did not become thirteen points on the average, because Meridian is 30.47 percent of the denominator, not the whole of it. The contribution identity is the weight times the rate change: 0.3047 × 13 = 3.96 points, with the leftover hundredth a rounding of 1,838,300 ÷ 6,032,795. Stressing a rate is a weighted move. The weight is already on the sheet.

Stated capacity still does not move. $3,516,230.25 is further above $2,400,000 than $3,277,251.25 was. The $238,979 joined the surplus. The same stress run downward — Meridian from 50 percent to 37 percent — would subtract $238,979, take lending value to $3,038,272.25, and still leave the limit binding. Only a cut large enough to spend the whole $877,251.25 surplus would touch the line.

That is the use of the stress. It converts a category rumour — 'they moved industrials to 63' — into a dollar figure and a blend figure before anyone reprints a statement. It also shows, again, that on a limit-bound book the first thing a rate move spends or builds is surplus. The line is the last thing that twitches.

A rate stress is a single overwritten cell. The blend's response is that cell's weight. Everything else is arithmetic you already have.