SIGNIFICANT RISK TRANSFER - COMPANION FILES
julianrsterling.com/srt

Free. No sign-up, no email address. Nothing is locked, protected or watermarked.
Revised 24 September 2026.

Optional: to get an email if these files are ever corrected, join the reader list at
https://julianrsterling-readers.subscribepage.io/
(run by MailerLite, off the site; nothing in this archive needs it).

WHAT IS IN THE ARCHIVE

1. The book's six workbooks, corrected and extended
   Capital_Model.xlsx          Chapters 2 to 5, Appendix A
   Tranche_Capital.xlsx        Chapters 7 to 10, 13 and 23
   Bank_Economics.xlsx         Chapters 10 to 15
   Investor_Return.xlsx        Chapters 16, 17 and 20 to 22
   Bargaining_Range.xlsx       Chapters 18 and 23
   Portfolio_Template.xlsx     your own portfolio, with the book's as a worked example
   00_START_HERE.md            what changed is at the end
   Each workbook closes on a Controls sheet that ends "All checks: ALL OK".

2. Blank_Model_Set/  (new)
   Five of the workbooks with every input emptied, for your own transaction.
   Portfolio_Template already arrives empty. Each Controls sheet counts what
   is still missing and tests what holds for any inputs. The book's figures
   are in book_inputs.txt: type them back in and the book's results come back.

3. Working_Documents.pdf  (new)
   Thirteen printable pages: the loan tape and KIRB, the transfer tests and
   their monitoring, tranching and SEC-IRBA, the two sets of STS conditions,
   the bank's side, retention, the investor's side and leverage, the
   bargaining range, stress, thickness, replenishment and the call, the term
   sheet annotated, and the questions before you sign. A4, fits Letter.

4. Forty_Questions.xlsx  (new)
   Forty questions across the book, marked by the file as you type.

5. Cases/  (new)
   Case_1_When_KIRB_Moves.xlsx                        Chapters 4, 26 and 29, Appendix C
   Case_2_The_Worst_Pool_The_Criteria_Permit.xlsx     Chapter 19, Appendix C
   Case_3_Bound_By_The_Leverage_Ratio.xlsx            Chapter 26
   Each case: the note on the first sheet, the model after it, checks at the end.

The files open in Excel, LibreOffice Calc, Google Sheets and Numbers. No macros.
