Level differences between MC rendering to stereo and binaural

We noticed internally that the output level for MC can vary between stereo and binaural. E.g.

./IVAS_cod -mc 5_1_4 128000 48 scripts/testv/stv514MC48c.wav bit
./IVAS_dec stereo 48 bit out_stereo.wav
./IVAS_dec binaural 48 bit out_binaural.wav
bs1770demo -nchan 2 out_stereo.raw
bs1770demo -nchan 2 out_binaural.raw

Gives Input level: -20.877463 for stereo output and Input level: -11.101193 for binaural output. The difference is also quite apparent from the waveform/spectrogram:

Stereo output:

Binaural output:

When encoding at 80kbps, the output level is about the same, so this is probably subformat-specific.