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{"sheet":"Facility Structure","index":0,"n_rows":89,"n_cols":32,"rows_kept":89,"cut":false,"hidden":false,"merged":[[2,19,2,20],[2,17,2,18]]}
["Example RAROC Calculation"]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"TRANSFER","EXPECTED ",null,null,"ECONOMIC ","CAPITAL  ","RISK ADJUSTED",{"$f":"AE5/(G33/12)","v":313480.68724776455},{"$f":"AF5/(G33/12)","v":1567403.409588482}]
["Facility structure",null,"RAROC",{"$f":"AF3","v":0.200000003400572},null,null,null,null,null,null,null,null,null,null,null,"REVENUES","EXPENSES","PD ",null,"LGD",null,"EAD","PDxLGD","PDxLGD COUNTRY","LOSS",null,null,"CAPITAL","BENEFIT","RETURN",null,{"$f":"AE2/AF2","v":0.200000003400572}]
[null,null,"total revenue",{"$f":"P5","v":5897543.8581502},null,null,"Months","Drawdown","Repayment","Balance","Agency Fee","Tech. Fee",null,"Interest Margin","Arrangm. Fee","bank  total receipts p.a.","Admin cost","EDF","Country EDF","Severity","Country Severity","LEE","EDF.Severity","Country(EDF.severity)","EL",null,null,"EC","Capital Benefit","Risk Adj. Return","RAR NPV","EC NPV"]
[null,null,null,null,null,null,null,{"$f":"SUM(H6:H33)","v":100000000},{"$f":"SUM(I9:I33)","v":100000000},null,{"$f":"SUM(K9:K33)","v":200000},{"$f":"SUM(L9:L33)","v":100000},null,{"$f":"N9+N11+SUM(N12:N33)","v":4181575.524668504},{"$f":"SUM(O7:O33)","v":1000000},{"$f":"SUM(P9:P33)","v":5897543.8581502},{"$f":"SUM(Q7:Q33)","v":650000},null,null,null,null,null,null,null,null,null,null,{"$f":"SUM(AB7:AB33)","v":24067796.083648618},{"$f":"SUM(AC9:AC33)","v":1203389.804182431},{"$f":"SUM(AD9:AD33)","v":4824858.6623326307},{"$f":"SUM(AE9:AE33)","v":4075248.9342209389},{"$f":"SUM(AF9:AF33)","v":20376244.324650265}]
["Term Facility",null,null,null,null,null,0,0,null,{"$f":"H6","v":0}]
[null,null,null," "," ",null,1,{"$f":"B14","v":100000000},null,{"$f":"J6+H7","v":100000000}]
["BORROWER (RATING):","BB",null,null,null,null,6,null,null,{"$f":"J7+H8-I8","v":100000000}]
["COUNTRY (RATING):","BB",null,null,null,null,12,null,{"$f":"IF(J8=0,0,$H$7/$B$20)","v":5000000},{"$f":"J8+H9-I9","v":95000000},{"$f":"IF(J9=0,0,$B$27)","v":20000},{"$f":"IF(K9=0,0,$B$28)","v":10000},{"$f":"intperc","v":8.7572262296722603E-3},{"$f":"J8*intperc/2","v":437861.31148361304},{"$f":"underwr*B13","v":1000000},{"$f":"SUM(K9:O9)","v":1467861.3202408394},{"$f":"$B$41*(L9+K9+O9)","v":515000},{"$f":"B10","v":0.02},{"$f":"B11","v":9.7000000000000003E-3},{"$f":"sevperc","v":0.1},{"$f":"Ctry.Sev","v":0.1},{"$f":"J9","v":95000000},{"$f":"R9*T9","v":2E-3},{"$f":"S9*U9","v":9.7000000000000005E-4},{"$f":"V9*(W9+X9)","v":282150},{"$f":"T9^2*R9*(1-R9)+R9*T9*(1-T9)/4","v":6.4600000000000009E-4},{"$f":"U9^2*S9*(1-S9)+(1-U9)*X9/4","v":3.1430910000000006E-4},{"$f":"(SQRT(Z9)+SQRT(AA9))*V9*SQRT(rho)*capital_multiple","v":4176147.265655925},{"$f":"AB9*capbenperc","v":208807.36328279626},{"$f":"P9-Q9-Y9+AC9","v":879518.68352363561},{"$f":"AD9/(1+discount_rate)^(G9/12-0.5)","v":858322.34741031379},{"$f":"AB9/(1+discount_rate)^(G9/12-0.5)","v":4075502.4211974344}]
["EDF or PD credit",0.02,"Expected Default Factor or probabiity of Default depends on rating of Borrower",null,null,null,18,null,5000000,{"$f":"J9+H10-I10","v":90000000},null,null,8.7572262296722603E-3,{"$f":"J9*M10/2","v":415968.24590943236}]
["EDF or PD country",9.7000000000000003E-3,"Expected Default Factor or probabiity of Default depends on rating of country (transfer risk devaluation,)",null,null,null,24,null,5000000,85000000,{"$f":"IF(J11=0,0,$B$27)","v":20000},{"$f":"IF(K11=0,0,$B$28)","v":10000},8.7572262296722603E-3,{"$f":"J10*M11/2","v":394075.18033525173},null,{"$f":"SUM(K11:O11)+N10","v":840043.43500191031},{"$f":"$B$41*(L11+K11+O11)","v":15000},{"$f":"R9","v":0.02},{"$f":"S9","v":9.7000000000000003E-3},{"$f":"sevperc","v":0.1},{"$f":"Ctry.Sev","v":0.1},{"$f":"(J9+J11)/2","v":90000000},{"$f":"R11*T11","v":2E-3},{"$f":"S11*U11","v":9.7000000000000005E-4},{"$f":"V11*(W11+X11)","v":267300},{"$f":"T11^2*R11*(1-R11)+R11*T11*(1-T11)/4","v":6.4600000000000009E-4},{"$f":"U11^2*S11*(1-S11)+(1-U11)*X11/4","v":3.1430910000000006E-4},{"$f":"(SQRT(Z11)+SQRT(AA11))*V11*SQRT(rho)*capital_multiple","v":3956350.0411477182},{"$f":"AB11*capbenperc","v":197817.50205738592},{"$f":"P11-Q11-Y11+AC11","v":755560.9370592963},{"$f":"AD11/(1+discount_rate)^(G11/12-0.5)","v":702239.97485069465},{"$f":"AB11/(1+discount_rate)^(G11/12-0.5)","v":3677145.0416818955}]
[null,null,null,null,null,null,30,null,5000000,{"$f":"J11+H12-I12","v":80000000},null,null,8.7572262296722603E-3,{"$f":"J11*intperc/2","v":372182.11476107105}]
["Underwiting Amount",100000000,"Euro",null,null,null,36,null,5000000,75000000,{"$f":"IF(J13=0,0,$B$27)","v":20000},{"$f":"IF(K13=0,0,$B$28)","v":10000},8.7572262296722603E-3,{"$f":"J12*intperc/2","v":350289.04918689042},null,{"$f":"SUM(K13:O13)+N12","v":752471.1727051877},{"$f":"$B$41*(L13+K13+O13)","v":15000},{"$f":"R9","v":0.02},{"$f":"S9","v":9.7000000000000003E-3},{"$f":"sevperc","v":0.1},{"$f":"Ctry.Sev","v":0.1},{"$f":"(J11+J13)/2","v":80000000},{"$f":"R13*T13","v":2E-3},{"$f":"S13*U13","v":9.7000000000000005E-4},{"$f":"V13*(W13+X13)","v":237600},{"$f":"T13^2*R13*(1-R13)+R13*T13*(1-T13)/4","v":6.4600000000000009E-4},{"$f":"U13^2*S13*(1-S13)+(1-U13)*X13/4","v":3.1430910000000006E-4},{"$f":"(SQRT(Z13)+SQRT(AA13))*V13*SQRT(rho)*capital_multiple","v":3516755.592131305},{"$f":"AB13*capbenperc","v":175837.77960656525},{"$f":"P13-Q13-Y13+AC13","v":675708.95231175295},{"$f":"AD13/(1+discount_rate)^(G13/12-0.5)","v":598117.3839936658},{"$f":"AB13/(1+discount_rate)^(G13/12-0.5)","v":3112927.0194132444}]
["final Take",100000000,null,null,null,null,{"$f":"G13+6","v":42},null,5000000,70000000,null,null,8.7572262296722603E-3,{"$f":"J13*M14/2","v":328395.98361270974}]
[null,null,null,null,null,null,48,null,5000000,65000000,{"$f":"IF(J15=0,0,$B$27)","v":20000},{"$f":"IF(K15=0,0,$B$28)","v":10000},8.7572262296722603E-3,{"$f":"J14*M15/2","v":306502.91803852911},null,{"$f":"SUM(K15:O15)+N14","v":664898.91040846508},{"$f":"$B$41*(L15+K15+O15)","v":15000},{"$f":"R9","v":0.02},{"$f":"S9","v":9.7000000000000003E-3},{"$f":"sevperc","v":0.1},{"$f":"Ctry.Sev","v":0.1},{"$f":"(J13+J15)/2","v":70000000},{"$f":"R15*T15","v":2E-3},{"$f":"S15*U15","v":9.7000000000000005E-4},{"$f":"V15*(W15+X15)","v":207900},{"$f":"T15^2*R15*(1-R15)+R15*T15*(1-T15)/4","v":6.4600000000000009E-4},{"$f":"U15^2*S15*(1-S15)+(1-U15)*X15/4","v":3.1430910000000006E-4},{"$f":"(SQRT(Z15)+SQRT(AA15))*V15*SQRT(rho)*capital_multiple","v":3077161.1431148918},{"$f":"AB15*capbenperc","v":153858.05715574461},{"$f":"P15-Q15-Y15+AC15","v":595856.96756420971},{"$f":"AD15/(1+discount_rate)^(G15/12-0.5)","v":502318.84946576302},{"$f":"AB15/(1+discount_rate)^(G15/12-0.5)","v":2594105.8495110371}]
["Loan structure:","NO ECA COVER",null,null,null,null,54,null,5000000,60000000,null,null,8.7572262296722603E-3,{"$f":"J15*intperc/2","v":284609.85246434849}]
[null,null,null,null,null,null,60,null,5000000,55000000,{"$f":"IF(J17=0,0,$B$27)","v":20000},{"$f":"IF(K17=0,0,$B$28)","v":10000},8.7572262296722603E-3,{"$f":"J16*intperc/2","v":262716.7868901678},null,{"$f":"SUM(K17:O17)+N16","v":577326.64811174246},{"$f":"$B$41*(L17+K17+O17)","v":15000},{"$f":"R9","v":0.02},{"$f":"S9","v":9.7000000000000003E-3},{"$f":"sevperc","v":0.1},{"$f":"Ctry.Sev","v":0.1},{"$f":"(J15+J17)/2","v":60000000},{"$f":"R17*T17","v":2E-3},{"$f":"S17*U17","v":9.7000000000000005E-4},{"$f":"V17*(W17+X17)","v":178200},{"$f":"T17^2*R17*(1-R17)+R17*T17*(1-T17)/4","v":6.4600000000000009E-4},{"$f":"U17^2*S17*(1-S17)+(1-U17)*X17/4","v":3.1430910000000006E-4},{"$f":"(SQRT(Z17)+SQRT(AA17))*V17*SQRT(rho)*capital_multiple","v":2637566.6940984786},{"$f":"AB17*capbenperc","v":131878.33470492394},{"$f":"P17-Q17-Y17+AC17","v":516004.98281666636},{"$f":"AD17/(1+discount_rate)^(G17/12-0.5)","v":414287.70964574738},{"$f":"AB17/(1+discount_rate)^(G17/12-0.5)","v":2117637.428172275}]
["Total tenor (yrs):",{"$f":"B20/2","v":10},"years",null,null,null,66,null,5000000,50000000,null,null,8.7572262296722603E-3,{"$f":"J17*M18/2","v":240823.72131598715}]
["Disbursement Period",12,"months",null,null,null,72,null,5000000,45000000,{"$f":"IF(J19=0,0,$B$27)","v":20000},{"$f":"IF(K19=0,0,$B$28)","v":10000},8.7572262296722603E-3,{"$f":"J18*M19/2","v":218930.65574180652},null,{"$f":"SUM(K19:O19)+N18","v":489754.38581501989},{"$f":"$B$41*(L19+K19+O19)","v":15000},{"$f":"R9","v":0.02},{"$f":"S9","v":9.7000000000000003E-3},{"$f":"sevperc","v":0.1},{"$f":"Ctry.Sev","v":0.1},{"$f":"(J17+J19)/2","v":50000000},{"$f":"R19*T19","v":2E-3},{"$f":"S19*U19","v":9.7000000000000005E-4},{"$f":"V19*(W19+X19)","v":148500},{"$f":"T19^2*R19*(1-R19)+R19*T19*(1-T19)/4","v":6.4600000000000009E-4},{"$f":"U19^2*S19*(1-S19)+(1-U19)*X19/4","v":3.1430910000000006E-4},{"$f":"(SQRT(Z19)+SQRT(AA19))*V19*SQRT(rho)*capital_multiple","v":2197972.2450820655},{"$f":"AB19*capbenperc","v":109898.61225410328},{"$f":"P19-Q19-Y19+AC19","v":436152.99806912319},{"$f":"AD19/(1+discount_rate)^(G19/12-0.5)","v":333501.44289370213},{"$f":"AB19/(1+discount_rate)^(G19/12-0.5)","v":1680664.6255335514}]
["Repayment Schedule (equal)",20,"semi-annual",null,null,null,78,null,5000000,40000000,null,null,8.7572262296722603E-3,{"$f":"J19*intperc/2","v":197037.59016762587}]
[null,null,null,null,null,null,84,null,5000000,35000000,{"$f":"IF(J21=0,0,$B$27)","v":20000},{"$f":"IF(K21=0,0,$B$28)","v":10000},8.7572262296722603E-3,{"$f":"J20*intperc/2","v":175144.52459344521},null,{"$f":"SUM(K21:O21)+N20","v":402182.12351829733},{"$f":"$B$41*(L21+K21+O21)","v":15000},{"$f":"R9","v":0.02},{"$f":"S9","v":9.7000000000000003E-3},{"$f":"sevperc","v":0.1},{"$f":"Ctry.Sev","v":0.1},{"$f":"(J19+J21)/2","v":40000000},{"$f":"R21*T21","v":2E-3},{"$f":"S21*U21","v":9.7000000000000005E-4},{"$f":"V21*(W21+X21)","v":118800},{"$f":"T21^2*R21*(1-R21)+R21*T21*(1-T21)/4","v":6.4600000000000009E-4},{"$f":"U21^2*S21*(1-S21)+(1-U21)*X21/4","v":3.1430910000000006E-4},{"$f":"(SQRT(Z21)+SQRT(AA21))*V21*SQRT(rho)*capital_multiple","v":1758377.7960656525},{"$f":"AB21*capbenperc","v":87918.889803282626},{"$f":"P21-Q21-Y21+AC21","v":356301.01332157996},{"$f":"AD21/(1+discount_rate)^(G21/12-0.5)","v":259469.67839548938},{"$f":"AB21/(1+discount_rate)^(G21/12-0.5)","v":1280506.3813588964}]
["Income  (estimated):",null,null,null,null,null,90,null,5000000,30000000,null,null,8.7572262296722603E-3,{"$f":"J21*M22/2","v":153251.45901926456}]
["Net Margin",8.7572262296722603E-3,"p.a.",null,null,null,96,null,5000000,25000000,{"$f":"IF(J23=0,0,$B$27)","v":20000},{"$f":"IF(K23=0,0,$B$28)","v":10000},8.7572262296722603E-3,{"$f":"J22*M23/2","v":131358.3934450839},null,{"$f":"SUM(K23:O23)+N22","v":314609.86122157471},{"$f":"$B$41*(L23+K23+O23)","v":15000},{"$f":"R9","v":0.02},{"$f":"S9","v":9.7000000000000003E-3},{"$f":"sevperc","v":0.1},{"$f":"Ctry.Sev","v":0.1},{"$f":"(J21+J23)/2","v":30000000},{"$f":"R23*T23","v":2E-3},{"$f":"S23*U23","v":9.7000000000000005E-4},{"$f":"V23*(W23+X23)","v":89100},{"$f":"T23^2*R23*(1-R23)+R23*T23*(1-T23)/4","v":6.4600000000000009E-4},{"$f":"U23^2*S23*(1-S23)+(1-U23)*X23/4","v":3.1430910000000006E-4},{"$f":"(SQRT(Z23)+SQRT(AA23))*V23*SQRT(rho)*capital_multiple","v":1318783.3470492393},{"$f":"AB23*capbenperc","v":65939.167352461969},{"$f":"P23-Q23-Y23+AC23","v":276449.02857403667},{"$f":"AD23/(1+discount_rate)^(G23/12-0.5)","v":191732.31903566944},{"$f":"AB23/(1+discount_rate)^(G23/12-0.5)","v":914647.41525635449}]
[" "," ","p.a.",null,null,null,{"$f":"G23+6","v":102},null,5000000,20000000,null,null,8.7572262296722603E-3,{"$f":"J23*intperc/2","v":109465.32787090326}]
[" "," ","p.a.",null,null,null,108,null,5000000,15000000,{"$f":"IF(J25=0,0,$B$27)","v":20000},{"$f":"IF(K25=0,0,$B$28)","v":10000},8.7572262296722603E-3,{"$f":"J24*intperc/2","v":87572.262296722605},null,{"$f":"SUM(K25:O25)+N24","v":227037.59892485209},{"$f":"$B$41*(L25+K25+O25)","v":15000},{"$f":"R9","v":0.02},{"$f":"S9","v":9.7000000000000003E-3},{"$f":"sevperc","v":0.1},{"$f":"Ctry.Sev","v":0.1},{"$f":"(J23+J25)/2","v":20000000},{"$f":"R25*T25","v":2E-3},{"$f":"S25*U25","v":9.7000000000000005E-4},{"$f":"V25*(W25+X25)","v":59400},{"$f":"T25^2*R25*(1-R25)+R25*T25*(1-T25)/4","v":6.4600000000000009E-4},{"$f":"U25^2*S25*(1-S25)+(1-U25)*X25/4","v":3.1430910000000006E-4},{"$f":"(SQRT(Z25)+SQRT(AA25))*V25*SQRT(rho)*capital_multiple","v":879188.89803282626},{"$f":"AB25*capbenperc","v":43959.444901641313},{"$f":"P25-Q25-Y25+AC25","v":196597.04382649341},{"$f":"AD25/(1+discount_rate)^(G25/12-0.5)","v":129857.77014006028},{"$f":"AB25/(1+discount_rate)^(G25/12-0.5)","v":580728.51762308227}]
["Commitment Fee:",0,"²",null,null,null,114,null,5000000,10000000,null,null,8.7572262296722603E-3,{"$f":"J25*M26/2","v":65679.19672254195}]
["Agency Fee:",20000,"p.a.",null,null,null,120,null,5000000,5000000,{"$f":"IF(J27=0,0,$B$27)","v":20000},{"$f":"IF(K27=0,0,$B$28)","v":10000},8.7572262296722603E-3,{"$f":"J26*M27/2","v":43786.131148361303},null,{"$f":"SUM(K27:O27)+N26","v":139465.33662812947},{"$f":"$B$41*(L27+K27+O27)","v":15000},{"$f":"R9","v":0.02},{"$f":"S9","v":9.7000000000000003E-3},{"$f":"sevperc","v":0.1},{"$f":"Ctry.Sev","v":0.1},{"$f":"(J25+J27)/2","v":10000000},{"$f":"R27*T27","v":2E-3},{"$f":"S27*U27","v":9.7000000000000005E-4},{"$f":"V27*(W27+X27)","v":29700},{"$f":"T27^2*R27*(1-R27)+R27*T27*(1-T27)/4","v":6.4600000000000009E-4},{"$f":"U27^2*S27*(1-S27)+(1-U27)*X27/4","v":3.1430910000000006E-4},{"$f":"(SQRT(Z27)+SQRT(AA27))*V27*SQRT(rho)*capital_multiple","v":439594.44901641313},{"$f":"AB27*capbenperc","v":21979.722450820656},{"$f":"P27-Q27-Y27+AC27","v":116745.05907895013},{"$f":"AD27/(1+discount_rate)^(G27/12-0.5)","v":73441.268261639125},{"$f":"AB27/(1+discount_rate)^(G27/12-0.5)","v":276537.38934432482}]
["Technical Fee:",10000,"p.a.",null,null,null,126,null,5000000,0,null," ",8.7572262296722603E-3,{"$f":"J27*intperc/2","v":21893.065574180651},null,null," ",null,null,null,null,null,null,null,{"$f":"V28*(W28+X28)","v":0},null,null,0,0,0," ",0]
["Underwriting and",null,null,null,null,null,132,null,0,0,{"$f":"IF(J29=0,0,$B$27)","v":0},{"$f":"IF(K29=0,0,$B$28)","v":0},null,0,null,{"$f":"SUM(K29:O29)+N28","v":21893.065574180651},{"$f":"0.5*(L29+K29+O29)","v":0},{"$f":"R9","v":0.02},{"$f":"S9","v":9.7000000000000003E-3},{"$f":"T9","v":0.1},{"$f":"U9","v":0.1},{"$f":"(J27+J29)/2","v":2500000},{"$f":"W9","v":2E-3},{"$f":"X9","v":9.7000000000000005E-4},7425,{"$f":"T29^2*R29*(1-R29)+R29*T29*(1-T29)/4","v":6.4600000000000009E-4},{"$f":"U29^2*S29*(1-S29)+(1-U29)*X29/4","v":3.1430910000000006E-4},109898.61225410328,5494.9306127051641,{"$f":"P29-Q29-Y29+AC29","v":19962.996186885815},{"$f":"AD29/(1+discount_rate)^(G29/12-0.5)","v":11960.190128194823},65842.235558172571]
["Arrangement Fees:",0.01,"flat",{"$f":"NORMSINV(0.9998)","v":3.5400837992061742},{"$f":"NORMSDIST(capital_multiple)","v":1},null,138,null,0,0,null," ",null,0,null,null," ",null,null,null,null,null,null,null,0,null,null,0,0,0," ",0]
[null,null,null,{"$f":"NORMSINV(0.95)","v":1.6448536269514715},{"$f":"NORMSDIST(D31)","v":0.94999999999999984},null,144,null,0,0,{"$f":"IF(J31=0,0,$B$27)","v":0},{"$f":"IF(K31=0,0,$B$28)","v":0},null,0,null,{"$f":"SUM(K31:O31)+N30","v":0},{"$f":"0.5*(L31+K31+O31)","v":0},{"$f":"R9","v":0.02},{"$f":"S9","v":9.7000000000000003E-3},{"$f":"T9","v":0.1},{"$f":"U9","v":0.1},{"$f":"(J29+J31)/2","v":0},{"$f":"W9","v":2E-3},{"$f":"X9","v":9.7000000000000005E-4},0,{"$f":"T31^2*R31*(1-R31)+R31*T31*(1-T31)/4","v":6.4600000000000009E-4},{"$f":"U31^2*S31*(1-S31)+(1-U31)*X31/4","v":3.1430910000000006E-4},0,0,{"$f":"P31-Q31-Y31+AC31","v":0},{"$f":"AD31/(1+discount_rate)^(G31/12-0.5)","v":0},0]
["Rho or Unexpected loss",8.8999999999999999E-3,"This represents the estimated correlation between this facility and the rest of the portfolio (diversification effect). Contribute to unlexpected loss",null,null,null,150,null,0,0,null," ",null,0,null,null," ",null,null,null,null,null,null,null,0,null,null,0,0,0," ",0]
["Capital multiple",10.8,"This shows the number of standard deviations to reach the Bank's desired safety level  (AAA = 99.98% confidence)",null,null,null,156,null,0,0,{"$f":"IF(J33=0,0,$B$27)","v":0},{"$f":"IF(K33=0,0,$B$28)","v":0},null,0,null,{"$f":"SUM(K33:O33)+N32","v":0},{"$f":"0.5*(L33+K33+O33)","v":0},{"$f":"R9","v":0.02},{"$f":"S9","v":9.7000000000000003E-3},{"$f":"T9","v":0.1},{"$f":"U9","v":0.1},{"$f":"(J31+J33)/2","v":0},{"$f":"W9","v":2E-3},{"$f":"X9","v":9.7000000000000005E-4},0,{"$f":"T33^2*R33*(1-R33)+R33*T33*(1-T33)/4","v":6.4600000000000009E-4},{"$f":"U33^2*S33*(1-S33)+(1-U33)*X33/4","v":3.1430910000000006E-4},0,0,{"$f":"P33-Q33-Y33+AC33","v":0},{"$f":"AD33/(1+discount_rate)^(G33/12-0.5)","v":0},0]
["Capital benefit %",0.05,"This reflects the rebate in funding costs (because not all of the loan needs to be funded externally - some of it is funded with our own capital)"]
["US discount rate",0.05]
["Severity or LGD (Loss Given default) Facility",0.1,"This is an estimate of the amount we would lose in case of a default, thereby taking account of seniority of loan, collateral specfic to the facility"]
["Country Severity or LGD",0.1,"This is an estimate of the severity in case of a country default taking into account political risk cover ",null,null,null," "]
[]
["FTP","GROSS Margin"]
[0.01,{"$f":"B23+A40","v":1.8757226229672262E-2}]
["Admin Cost assume a cost to income ratio of 50%",0.5]
[]
[null,"      Risk Adjusted Return   "]
["  RAROC =     ---------------------------------------------------"]
[" ","        Economic Capital "]
["Risk Adjusted Return = Revenues - Expenses - Expected Loss + Capital Benefit"]
["Economic Capital = Unexpected loss x Capital Multiple"]
["Expected Loss = Probablilty of Default x Exposure at Default x Loss given Default"]
["Total Bank Receipt = ",null,{"$f":"K4","v":"Agency Fee"}]
[" ",null,"Technical Fee"]
[null,null,{"$f":"N4","v":"Interest Margin"}]
[null,null,"Arrangement Fee"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null," "]
[]
[]
[]
[]
[]
[]
[]
[null,null,null,null,null,null,null,null," "]

{"sheet":"Various information","index":1,"n_rows":19,"n_cols":5,"rows_kept":19,"cut":false,"hidden":false,"merged":[]}
[]
[]
[]
[]
[]
[]
[null,null," PD Borrower","BB ",1.15E-2]
[null,null,null,"BB-",0.02]
[null,null," PD Vietnam","BB",9.7000000000000003E-3]
[]
[]
[]
[]
[null,null,"LGD facility with ECA commercial cover",null,0.1]
[null,null,"LGD Country with ECA political cover",null,0.1]
[null,null,"LGD facility without ECA cover",null,0.6]
[null,null,"LGD country without ECA cover",null,0.6]
[]
[null,null,"CDS vietnam",null,297]

{"sheet":"results","index":2,"n_rows":14,"n_cols":8,"rows_kept":14,"cut":false,"hidden":false,"merged":[]}
[]
[]
[]
[null,null,null,null,null,null,null,"LGD : cell B 34 and B35  "]
[null,null,null,null,null,null,null,"PD  Borrower : cell B 36 "]
[null,null,null,null,"Net Margin","RAROC"]
[null,null,"No ECA",null,3.7499999999999999E-2,0.22700000000000001,null,"put both LGD at 60% and PD Borrower at 1,15%"]
[null,null,"Min hurdle rate",null,3.3599999999999998E-2,0.2]
[]
[null,null,"WITH ECA BB rating",null,8.0000000000000002E-3,0.22839999999999999,null,"put both LGD at 10 % and PD Borrower at 1,15%"]
[null,null,"Min Hurdle rate",null,6.8999999999999999E-3,0.2]
[]
[null,null,"WITH ECA BB- rating",null,0.01,0.22670000000000001,null,"put both LGD at 10 % and PD Borrower at 2%"]
[null,null,"Min Hurdle rate",null,8.8000000000000005E-3,0.2]