It is important to note that we have chosen to highlight the weighted averages of PAR for this analysis. By using total assets to weight the PAR30 levels, we are focusing on the performance of the sector’s cumulative dollar amount of MFI assets by avoiding the overrepresentation of small MFIs. A simple average would focus more how the total number of MFIs are performing, which is an important but slightly different question. In subsequent blogs, we’ll dive deeper into parsing out these distinctions. The weighting also means that MFIs that did not report total assets are not included in weighted figures. This applies to 8 MFIs out of a total 180 in the sample as of 15 June.