The survival and performance of businesses depend in part on their resilience when confronted with crises such as the COVID-19 pandemic. Drawing on a unique, large-scale survey of 2600 non-farm rural businesses conducted during the COVID-19 pandemic, we explore how rural businesses, shaped by...

The concept of risk-based capital requirements enjoys widespread support. Effective implementation, however, requires that risk be measured accurately both across borrowers and across time. Under the New Capital Accord, the cornerstone of this risk measurement process is the rating of the...