Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Hong Kong, China 01 01 - Liquidity Support HKD 1,007,800,000,000 129,785,836,628
Hong Kong, China 01A 01A - Short-term lending HKD 7,800,000,000 1,004,494,469 News.gov.hk. https://www.news.gov.hk/eng/2020/06/20200609/20200609_161908_002.html?type=category&name=covid19 (accessed 11 June 2020).

9 June 2020, See bridge loan component of the Cathay Pacific package in Measure 4.

Hong Kong, China 01B 01B - Support policies for short-term lending HKD 922,349,000,000 118,781,342,159 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#P (accessed 6 May 2020). HKMA. https://www.hkma.gov.hk/eng/key-functions/banking/banking-regulatory-and-supervisory-regime/riding-out-the-covid-19-challenge/ (accessed 12 May 2020).

(i) No amount/estimate: The Hong Kong Monetary Authority (HKMA) introduced measures to increase banking sector’s liquidity, encouraging banks to deploy their liquidity buffers more flexibly, and easing interbank funding conditions by reducing the issuance size of Exchange Fund Bills. (ii) A total of HKD1 trillion in lending capacity has been released through reduction in regulatory reserves by half on 16 March 2020 along with (i) in Measure 1C and (ii) and (iii) in Measure 2B.

Hong Kong, China 01C 01C - Forex operations HKD 77,651,000,000 10,000,000,000 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#P (accessed 6 May 2020).

The HKMA (i) increased banking system liquidity such as through USD repo transactions; and (ii) 22 April 2020, Launched a US Dollar Liquidity Facility (US$10 billion) which uses funds obtained through the US Fed's FIMA Repo Facility.

Mongolia 01 01 - Liquidity Support MNT 574,000,000,000 208,233,659
Mongolia 01A 01A - Short-term lending MNT 250,000,000,000 90,694,102 Bank of Mongolia (BOM). https://www.mongolbank.mn/eng/news.aspx?tid=1&id=2600 (accessed 15 September 2020); BOM. https://www.mongolbank.mn/eng/news.aspx?tid=1&id=2706 (accessed 28 December 2020).

No amount/estimate: 14 September 2020, The Bank of Mongolia announced that it will be introducing a long-term repo financing instrument to alleviate the current economic downturn and support economic recovery of the country. On 18 December 2020, the BOM announced that it will issue up to MNT250 billion under the long-term repo financing to support small and medium enterprises (SMEs) and non-mining exports in the first quarter of 2021.

Mongolia 01B 01B - Support policies for short-term lending MNT 324,000,000,000 117,539,556 International Monetary Fund (IMF). https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 24 July 2020); BOM. https://www.mongolbank.mn/eng/news.aspx?tid=1&id=2552 (accessed 16 July 2020); BOM. https://www.mongolbank.mn/eng/news.aspx?tid=1&id=2682 (accessed 24 November 2020).

(i) 11 March 2020, The Bank of Mongolia (BOM) reduced the Mongolian Tugrik (MNT) reserve requirement of banks by 200 basis points (bps) to 8.5%. The lower reserve requirement released MNT324 billion of additional liquidity in the banking system. 23 November 2020, The revised reserve requirement on banks’ domestic currency liabilities is 6%; (ii) No amount/estimate: 26 June 2020, BOM announced that it will reduce remuneration on MNT reserve requirements issued to banks by the amount corresponding to the ratio of foreign currency-denominated (FX) deposits with relatively higher rates and FX current accounts charging any rate to total FX deposits and current accounts.

Mongolia 01C 01C - Forex operations MNT
People's Republic of China 01 01 - Liquidity Support CNY 3,000,000,000,000 427,467,784,473
People's Republic of China 01A 01A - Short-term lending CNY 3,000,000,000,000 427,467,784,473 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 15 April 2020); Xinhua. http://www.xinhuanet.com/english/2020-05/27/c_139091431.htm (accessed 28 May 2020); Global Times. https://www.globaltimes.cn/content/1190899.shtml (accessed 9 June 2020); NASDAQ. https://www.nasdaq.com/articles/china-c.bank-cuts-14-day-reverse-repo-rate-injects-net-40-bln-yuan-2020-06-17 (accessed 19 June 2020); CEIC Data Company; PBC. http://www.pbc.gov.cn/en/3688229/3688335/3730267/4072352/index.html (accessed 15 August 2020); PBC. http://www.pbc.gov.cn/en/3688110/3688181/4114538/index.html (accessed 24 October 2020); PBOC. http://www.pbc.gov.cn/en/3688229/3688335/3730267/4118464/index.html (accessed 31 October 2020).

(i) CNY1.8 trillion for the expansion of re-lending and re-discounting facilities to support manufacturers of medical supplies and daily necessities, micro-, small- and medium-sized firms and the agricultural sector at low interest rates; (ii) In order to keep the liquidity stable, the People’s Bank of China (PBOC) conducts reverse repo operations with peak amounts (since February 3, 2020) of CNY900 billion (for 7-day maturity and CNY300 billion (for 14-day maturity). On 14 August, PBOC conducted reverse repos in the amount of CNY150 billion (for 7-day maturity) at an interest rate of 2.2 percent. On October 23, PBOC conducted reverse repos in the amount of CNY70 billion (for 7-day maturity) at an interest rate of 2.2 percent. On October 30, PBOC conducted reverse repos in the amount of CNY100 billion (for 7-day maturity) at an interest rate of 2.2 percent .

People's Republic of China 01B 01B - Support policies for short-term lending CNY IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 15 April 2020).

No amount/estimate: (i) Targeted reserve requirement ratio cuts by 50-100 bps for large- and medium-sized banks that meet inclusive financing criteria which benefit smaller firms, an additional 100 bps for eligible joint-stock banks, and 100 bps for small- and medium-sized banks in April and May to support SMEs; (ii) reduction of the 7-day and 14-day reverse repo rates by 30 and 10 basis points (bps), respectively; (iii) PRC will encourage its financial institutions to make interest concessions as appropriate to businesses to help keep economic fundamentals stable, and ensure that all fee-cutting measures are fully executed on the ground in an effort to ease corporate burdens.

People's Republic of China 01C 01C - Forex operations CNY IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 15 April 2020).

The exchange rate has been allowed to adjust flexibly. A ceiling on cross-border financing under the macroprudential assessment framework was raised by 25% for banks, non-banks and enterprises.

Republic of Korea 01 01 - Liquidity Support KRW 21,650,000,000,000 17,744,645,498
Republic of Korea 01A 01A - Short-term lending KRW 21,650,000,000,000 17,744,645,498 International Monetary Fund (IMF). https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 11 April 2020); BOK. https://www.bok.or.kr/eng/bbs/E0000634/view.do?nttId=10057756&menuNo=400069&pageIndex=1 (accessed 1 May 2020). BOK. https://www.bok.or.kr/viewer/skin/doc.html?fn=202004220906279090.doc&rs=/webview/result/E0000634/202004 (accessed 23 June 2020). FSC. http://www.fsc.go.kr/eng/new_press/releases.jsp?menu=01&bbsid=BBS0048 (accessed 25 June 2020).

(i) No amount/estimate: The Bank of Korea (BOK) is making unlimited amounts available through open market operations (OMOs). (ii) 27 February 2020, To augment available funding for small and medium-sized enterprises (SMEs), the BOK increased the ceiling of the Bank Intermediated Lending Support Facility by a total of KRW5 trillion (about 0.26% of gross domestic product [GDP]). On 13 May 2020, the BOK increased the financial support by an additional KRW5 trillion to bring the ceiling to a total of KRW10 trillion. (iii) 16 April 2020, The BOK launched the Corporate Bond-Backed Lending Facility as a lending scheme providing KRW10 trillion in loans to businesses, banks and non-bank financial institutions for up to 6 months. (iv) 19 June 2020, KRW1.65 trillion in loans by policy banks as part of a financial aid package for the auto industry consisting of KRW175 billion in loans, KRW300 billion private debt fund to support first-tier subcontractors based on their accounts receivable, and KRW1 trillion in working capital loans with preferential interest rates for subcontractors with previous records of supplying parts to automakers.

Republic of Korea 01B 01B - Support policies for short-term lending KRW IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 11 April 2020).

No amount/estimate: The BOK has taken several measures to ensure continued accommodative monetary conditions and facilitate financial system liquidity. These include (i) Expanding the list of eligible OMO participants to include select nonbank financial institutions; (ii) Expanding eligible OMO collateral to include bank bonds and certain bonds from public enterprises and agencies; and (iii) temporarily reducing the minimum foreign exchange liquidity coverage ratio for banks to 70% (was 80%).

Republic of Korea 01C 01C - Forex operations KRW IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 11 April 2020).

No amount/estimate: Other measures taken to facilitate funding in foreign exchange include (i) raising the cap on foreign exchange forward positions to 50% of capital for domestic banks (previously 40%) and 250% for foreign-owned banks (was 200%), (ii) temporarily suspending the 0.1% tax on short-term nondeposit foreign exchange liabilities of financial institutions, and (iii) see (iii) in Measure 1B.

Taipei,China 01 01 - Liquidity Support TWD 200,000,000,000 6,637,792,270
Taipei,China 01A 01A - Short-term lending TWD 200,000,000,000 6,637,792,270 Central bank press release. https://bit.ly/34WFzLH (accessed 8 May 2020).

April 2020: (i) Under the special accommodation facility, the monetary authority of Taipei,China (the Bank) will, preliminarily, provide banks with additional funds of a total amount of TWD200 billion and at a rate of one percentage point lower than the policy rate on accommodations with collateral, in order to support credit extensions to SMEs. As of 10 December 2020, the application deadline has been extended to 30 June 2021, and such loans that lenders approved on or after 5 January 2021 would continue to enjoy the facility's preferential interest rates until year-end; (ii) To ensure continued availability of liquidity banks may also use their holdings of the certificates of deposit (CDs) and negotiable certificates of deposit (NCDs) issued by the Bank to request early withdrawal or to take out secured loans; (iii) In case of emergency, the Bank's expanded repo facility, introduced in 2008 at the onset of the global financial crisis, could also be utilized to provide sufficient market access to liquidity; (iv) Under the broadened scope, securities firms and insurance companies are included as eligible counterparties in addition to banks and bills finance companies.

Taipei,China 01B 01B - Support policies for short-term lending TWD
Taipei,China 01C 01C - Forex operations TWD