What is in banks’ private information about borrowers, and how does it relate to physical distance and relationship length? Exploiting the Federal Reserve’s comprehensive supervisory loan-level dataset on corporate borrowers, we distinguish two dimensions of private information embedded in...

Through the lens of credit risk ratings, we investigate how banks determine loan terms under capital constraints. Using a unique and comprehensive supervisory dataset of individual corporate loans in the US, we show that unexpected adjustments to banks' internal rating systems, which only alter...

U.S. commercial banks are increasingly using credit scoring models to underwrite small business credits. This paper discusses this technology, evaluates the research findings on the effects of this technology on small business credit availability, and links these findings to a number of research...