Reviewed Aug 8, 2026

Developments since the last review

Jul 1 – Aug 8, 2026

PolicyTransmission52 holdings
Policy → portfolio

Benchmark rates remained elevated through August

What happened

Central Reserve Authority

The committee held the benchmark rate while keeping a data-dependent path for future decisions.

Portfolio impact

Rate-sensitive exposures need differentiated review
Transmission channel
Funding costs, discount rates and reinvestment yields

The impact differs by business model, so review financing assumptions alongside earnings sensitivity.

Holdings to review

Harbor Components

Working-capital funding

Summit Industrial Group

Capacity financing

Policy evidence

Latest holding changes

2026-07-01 2026-08-08