Hedge accounting documentation pack (designation and effectiveness)

Prepare hedge accounting documentation for {hedge_relationship} under {framework}.

Inputs:
- Hedging instrument terms: {hedging_instrument}
- Hedged item/exposure: {hedged_item}
- Risk being hedged: {risk}
- Hedge type (cash flow/fair value/net investment): {hedge_type}
- Effectiveness method planned: {effectiveness_method}
- Critical terms match? {critical_terms_match}

Output:
1) Designation memo outline with required elements and placeholders.
2) Effectiveness testing plan and data needs.
3) Journal entry and OCI/P&L impact outline.
4) Ongoing monitoring checklist and documentation retention.

Be clear about what must be documented at inception.