The main purpose of this article is to detail and supply a stress-testing framework at the individual level that investigates the impact of COVID-19 scenarios on non-financial firms’ probability of default as regards domestic and foreign-currency debt (a so-called new micro stress-test). The test addresses both the uniform and the asymmetrical transmission of shocks, in relation to sizes of firms and sectors of their activity. To allow for the running of micro stress-tests of this kind, a general model was constructed using a two-step approach comprising a microeconomic model and a macroeconomic module. Accompanying empirical analysis was based on individual data from different sources (relating to the years 2007–2020), i.e. prudential reporting, business registration, financial and behavioral data and balances of payments. In line with the factor of company size, the quality of loan portfolios is shown to deteriorate on the balance sheets of banks in all segments in the case of a negative scenario (for large and medium-sized enterprises the probability of default increases 1.5-fold, for small ones over threefold). While almost all industries will experience the impact of COVID-19, sections being hit particularly hard will involve services that, due to the ban on gatherings of people and the recommendation to avoid crowds, will lose most of their revenue and will fail to make up for this loss in the future.

本文的主要目的是在个人层面上详细说明和提供压力测试框架，以研究COVID-19方案对非金融公司本国和外币债务违约概率的影响（因此，称为新的微压力测试）。该测试针对冲击的均匀和不对称传递，涉及企业规模和活动领域。为了进行这种微观压力测试，使用包括微观经济学模型和宏观经济学模块的两步法构建了一个通用模型。伴随的经验分析是基于来自不同来源（涉及2007-2020年）的个人数据，即审慎报告，商业登记，财务和行为数据以及国际收支。根据公司规模的因素，在不利情况下，所有部门的银行资产负债表上的贷款组合质量都会恶化（对于大中型企业，违约概率增加1.5倍） ，适用于三倍以上的小尺寸）。尽管几乎所有行业都将受到COVID-19的影响，但受到严重打击的路段将涉及一些服务，由于禁止人群聚会和建议避免人群聚集，这些服务将损失大部分收入，并且无法弥补对于未来的损失。超过三倍的小商品）。尽管几乎所有行业都将受到COVID-19的影响，但受到严重打击的路段将涉及一些服务，由于禁止集会和建议避开人群的建议，这些服务将损失大部分收入，并且无法弥补对于未来的损失。超过三倍的小商品）。尽管几乎所有行业都将受到COVID-19的影响，但受到严重打击的路段将涉及一些服务，由于禁止人群聚会和建议避免人群聚集，这些服务将损失大部分收入，并且无法弥补对于未来的损失。