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Same deal, different pricing. See how 59 banks evaluate your facilities using their actual cost structure, tax rate, and risk models from public Pillar 3 filings.
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Data sources: BIS CR6 tables, Pillar 3 disclosures, annual reports. Updated annually.
RAROC (Risk-Adjusted Return on Capital) is the after-tax return a bank earns on the regulatory capital it must hold against a loan. Banks use it to decide whether a deal meets their internal hurdle rate — typically 10-15% in Europe.
RAROC = (1 − tax rate) × [(Revenue − Operating Cost − Funding Cost − Expected Loss) / Capital Required + Risk-Free Rate]. Revenue comes from spread and fees. Each bank uses its own parameters from its Pillar 3 disclosures.
Pillar 3 is the public disclosure requirement under Basel. Banks publish their credit risk parameters (PD, LGD, EAD) by exposure class. The CR6 template is what OpenRAROC uses to model how each bank prices corporate credit. Read our deep-dive guide.
Different cost-to-income ratios, funding costs, tax rates, and internal risk models. A bank at 38% cost-to-income needs much less spread than one at 70%. Two banks pricing the same EUR 25M BBB+ term loan can differ by 50-80bp.
From the bank's side, above the 10-15% hurdle. From the borrower's side, RAROC near or below the hurdle indicates the bank's margin is thin — you have negotiating leverage.
Every bank profile is sourced directly from public Pillar 3 CR6 filings and annual reports, with citations. Refreshed annually as banks publish new disclosures.
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