Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Japan 03 03 - Direct long-term lending JPY
Japan 03A 03A - Long-term lending JPY IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 6 May 2020)

Concessional loans from public and private financial institutions (included in the amount of the Emergency Economic Package Against COVID-19; see Measure 5).

Japan 03B 03B - Forbearance JPY
New Zealand 03 03 - Direct long-term lending NZD 900,000,000 544,332,890
New Zealand 03A 03A - Long-term lending NZD 900,000,000 544,332,890 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 24 July 2020); Inland Revenue. https://www.ird.govt.nz/covid-19/business-and-organisations/small-business-cash-flow-loan (accessed 18 May 2020).

(i) April, NZD0.9 billion debt funding agreement (convertible to equity) with Air New Zealand to ensure continued freight operations, domestic flights, and limited international flights; (ii) No amount/estimate: May, The New Zealand government provides loans of up to NZD100,000 to small businesses that employ 50 or less employees.

New Zealand 03B 03B - Forbearance NZD IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 24 July 2020); RBNZ. https://www.rbnz.govt.nz/news/2020/08/reserve-bank-extending-mortgage-deferral-scheme (accessed 24 August 2020).

No amount/estimate: April: (i) NZL government, RBNZ, and the New Zealand Bankers Association announced a six-month principal and interest repayment deferrals to mortgage holders and SMEs affected by COVID-19; (ii) The government has also committed to a temporary law change to enable businesses to put existing debt into hibernation for 6 months; (iii) August 17, RBNZ announced an extension of the regulatory guidance for the mortgage deferrals program. The extension will apply until 31 March 2021, at which point the usual treatment will resume. Banks will still be able to offer deferrals to borrowers after this date, but they will not have the same concessionary regulatory treatment [update].

United Kingdom 03 03 - Direct long-term lending GBP 520,000,000 643,813,182
United Kingdom 03A 03A - Long-term lending GBP 520,000,000 643,813,182 Bank of England. https://bit.ly/3fGui67 (accessed 13 April 2020); Bank of England. https://bit.ly/37JL1CO (accessed 13 April 2020); GOV.UK. https://www.gov.uk/government/news/157-billion-investment-to-protect-britains-world-class-cultural-arts-and-heritage-institutions (accessed 12 July 2020).

(i) May 20, Future Fund is launched. To bolster high-tech start-ups, the new GBP500 million Future Fund provides between GBP125,000 and GBP5 million for UK based-business as long as the cash is matched by private investors (i.e. government is committing GBP250 million, with the other GBP250 million expected to be raised by the private sector). The scheme is initially open until September and will be delivered by the British Business Bank. If the government loan is not repaid within three years, it gets automatically converted into an equity stake at 20% discount to the valuation set in the next funding round; (ii) July 5, The package in support for cultural organisations includes GBP270 million of repayable finance.

United Kingdom 03B 03B - Forbearance GBP Financial Conduct Authority (FCA). https://bit.ly/317ekOe (accessed 15 April 2020); FCA. https://www.fca.org.uk/news/press-releases/fca-confirms-further-support-motor-finance-and-high-cost-credit-customers (accessed 16 July 2020).

No amount/estimate: (i) April 9, The Financial Conduct Authority (FCA) introduced a package of targeted temporary measures to support customers affected by coronavirus, including by setting the expectation for firms to offer a payment freeze on loans and credit cards for up to three months; (ii) July 15, The FCA has confirmed the support that will be available for users of motor finance, buy-now pay-later (BNPL), rent-to-own (RTO), pawnbroking and high-cost short-term credit (HCSTC) products, who continue to face payment difficulties due to COVID-19. Measures include: (a) Firms should contact customers if they can resume payments – and if so, agree a plan on how the missed payments could be repaid, (b) For customers with still payment difficulties, firms will freeze or reduce payments to a level they can afford, on their motor finance, BNPL or RTO agreements for a further 3 months, (c) Customers that have not yet had a payment freeze or requested an extension of an existing payment freeze can request this up until 31 October 2020, (d) HCSTC customers can only apply for a payment freeze under this guidance once up to 31 October 2020, (e) The ban on repossessions will continue until 31 October 2020, and (f) Any payment freezes or partial payment freezes offered under this guidance should not have a negative impact on credit files.

Japan 03 03 - Direct long-term lending JPY
Japan 03A 03A - Long-term lending JPY IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 13 April 2020).

Concessional loans from public and private financial institutions (included in the amount of the Emergency Economic Package Against COVID-19 of JPY108.2 trillion).

Japan 03B 03B - Forbearance JPY
New Zealand 03 03 - Direct long-term lending NZD 900,000,000 544,332,890
New Zealand 03A 03A - Long-term lending NZD 900,000,000 544,332,890 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 12 April 2020).

(i) April, NZD0.9 billion debt funding agreement (convertible to equity) with Air New Zealand to ensure continued freight operations, domestic flights, and limited international flights.

New Zealand 03B 03B - Forbearance NZD IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 12 April 2020).

No amount/estimate: April, (i) NZL government, RBNZ, and the New Zealand Bankers Association announced a six-month principal and interest repayment deferrals to mortgage holders and SMEs affected by COVID-19; (ii) The government has also committed to a temporary law change to enable businesses to put existing debt into hibernation for 6 months.

United Kingdom 03 03 - Direct long-term lending GBP 250,000,000 309,405,941
United Kingdom 03A 03A - Long-term lending GBP 250,000,000 309,405,941 Bank of England. https://www.bankofengland.co.uk/markets/market-notices/2020/term-funding-scheme-market-notice-mar-2020 (accessed 13 April 2020); Bank of England. https://www.bankofengland.co.uk/news/2020/march/boe-measures-to-respond-to-the-economic-shock-from-covid-19 (accessed 13 April 2020).

(i) May 20, Future Fund is launched. To bolster high-tech start-ups, the new GBP500 million Future Fund provides between GBP125,000 and GBP5 million for UK based-business as long as the cash is matched by private investors (i.e. government is committing GBP250 million, with the other GBP250 million expected to be raised by the private sector). The scheme is initially open until September and will be delivered by the British Business Bank. If the government loan is not repaid within three years, it gets automatically converted into an equity stake at 20% discount to the valuation set in the next funding round; (ii) July 5, The package in support for cultural organisations includes GBP270 million of repayable finance.

United Kingdom 03B 03B - Forbearance GBP Financial Conduct Authority. https://www.fca.org.uk/print/news/press-releases/fca-confirms-temporary-financial-relief-customers-impacted-coronavirus (accessed 15 April 2020)

No amount/estimate: April 9, The Financial Conduct Authority (FCA) introduced a package of targeted temporary measures to support customers affected by coronavirus, including by setting the expectation for firms to offer a payment freeze on loans and credit cards for up to three months.