Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Australia 11 11 - Other Economic Measures AUD
Austria 11 11 - Other Economic Measures EUR BMF. https://www.bmf.gv.at/presse/pressemeldungen/2020/juni/regierungsklausur.html (accessed 17 June 2020). Austrian Financial Market Authority. https://www.fma.gv.at/fma-beendet-die-per-verordnung-erlassenen-einschraenkungen-fuer-leerverkaeufe-in-bestimmten-finanzinstrumenten-die-an-der-wiener-boerse-notieren/ (accessed 21 May 2020). IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#A (accessed 9 May 2020).

(i) On 18 March 2020, the Financial Market Authority prohibited short sales for one month following the massive drop in prices on the Vienna Stock Exchange due to betting on covered share price losses and and extended the prohibition to 18 May 2020 on 16 April 2020; (ii) No amount/estimate: 18 May 2020, Ended the restrictions on short sales beginning midnight of the same day; (iii) 16 June 2020, To incentivize companies to buy capital goods, added a degressive depreciation option for an unlimited period, up to 30% of an investment good should be written off in the first year.

Belgium 11 11 - Other Economic Measures EUR Federale Overheidsdienst Financiën. https://financien.belgium.be/nl/Actueel/akkoord-onderling-overleg-tussen-de-autoriteiten-van-duitsland-en-belgi%C3%AB-ter-verlenging-van (accessed 2 June 2020). Financial Services and Market Authority. https://www.fsma.be/nl/news/de-fsma-kondigt-de-opschorting-van-het-verbod-op-het-innemen-verhogen-van-nettoshortposities (accessed 21 May 2020). IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 15 April 2020); OECD. https://www.oecd.org/coronavirus/en/ (accessed 9 May 2020); Yale. https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-financial-stability/covid-19-crisis (accessed 30 April 2020).

(i) 30 March 2020, Belgian Debt Agency issued a new syndicated EURO benchmark bond maturing 22 October 2027 (OLO 91) in the near future and increased the number of OLO auctions by also organizing auctions on the penultimate Monday of May, August and October; (ii) 30 March 2020, Belgian Debt Agency stops buying back OLOs maturing in 2022; (iii) 8 April 2020, The Federal Debt Agency announces that it has accepted the offers for the auction of Treasury certificates of today for a total amount of EUR 2.280 billion; (iv) Ban on short-selling stocks until 17 May 2020; (v) 12 May 2020, the Financial Services and Markets Authority agreed to not take action against companies that will not be able to comply with mandatory data provision on code of conduct risk models by 30 June 2020; (vi) 18 May 2020: Suspended the ban on short selling; (vii) 2 June 2020: Extended the agreement on taxation of cross-border workers with Germany and Netherlands until 30 June 2020.

Canada 11 11 - Other Economic Measures CAD
Denmark 11 11 - Other Economic Measures DKK Denmark government. https://em.dk/nyhedsarkiv/2020/august/regeringen-og-erhvervslivet-vil-hjaelpe-dansk-eksport-i-coronakrisen/ (accessed 13 August 2020). Denmark government. https://em.dk/nyhedsarkiv/2020/august/ivaerksaettere-faar-hjaelpende-haand-ny-politisk-aftale-letter-omregistrering/ (accessed 27 July 2020)

(i) 11 August 2020, set up a Forum for restarting Danish exports, and eight Restart Teams from various industries to contribute their input; (ii) 21 August 2020, Gave entrepreneurs a better opportunity to re-register entrepreneurial companies as private limited companies. Also extended the deadline for re-registration to 15 October 2021.

Finland 11 11 - Other Economic Measures EUR Finnish Government. https://valtioneuvosto.fi/en/-/1271139/amendments-to-pharmaceutical-legislation-aim-to-ensure-availability-and-sufficiency-of-medicines- (accessed 18 July 2020).

(i) 9 July 2020, Amendments to pharmaceutical legislation to allow Ministry of Social Affairs and Health has the right to temporarily restrict or authorize the prescription and dispensing of medicines intended for treating infectious diseases.

France 11 11 - Other Economic Measures EUR AMF. https://www.amf-france.org/fr/actualites-publications/communiques/communiques-de-lamf/lamf-suspend-linterdiction-de-creer-ou-daugmenter-des-positions-courtes-nettes (accessed 1 June 2020).

18 May 2020, Suspended the ban on creating or increasing net short positions

Germany 11 11 - Other Economic Measures EUR Organisation for Economic Co-operation and Development (OECD). http://www.oecd.org/coronavirus/en/ (accessed 18 May 2020).

1 April 2020, Missed rent payments due to COVID-related reasons cannot lead to evictions and rent payments for these tenants will be postponed (in force from 1 April to 30 June). Consumers that cannot finance running consumption costs for their housing units (such as electricity, gas, telecommunication and water) can postpone them without being charged late payment fees or forced to judicial debt collection.

Ireland 11 11 - Other Economic Measures EUR 1,000,000 1,106,195 IE. https://www.gov.ie/en/press-release/e0aa1-minister-for-public-expenditure-and-reform-michael-mcgrath-td-announces-projects-to-be-funded-under-1-million-public-service-innovation-fund/ (accessed 13 August 2020).

28 July 2020, The Minister for Public Expenditure and Reform, announced the 34 diverse projects that have successfully secured funding from this year’s call under the Public Service Innovation Fund (EUR1 million), an initiative of the Our Public Service 2020 reform strategy for development and innovation in the Public Service.

Italy 11 11 - Other Economic Measures EUR IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 1 May 2020); Yale. https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-financial-stability/covid-19-crisis (accessed 1 May 2020); Ministero dell'Economia e delle Finanze. http://www.mef.gov.it/ufficio-stampa/comunicati/2020/Arriva-il-nuovo-BTP-Futura-il-primo-titolo-di-Stato-interamente-dedicato-al-retail/ (accessed 16 June 2020); IVAAS. https://www.ivass.it/media/avviso/covid-dividend-2/?com.dotmarketing.htmlpage.language=3 (accessed 6 August 2020);

(i) No amount/estimate: 24 April 2020, announced a special debt instrument called "BTP ITALIA," which will finance costs arising from the COVID-19 pandemic. The next issue will be 18 May 2020-21. The instruments have maturities of 4 to 8 years, with coupons paid every six months, and capital always guaranteed at maturity; (ii) IVASS (Insurance supervisory authority) followed the EIOPA recommendations and called insurance companies to be prudent about dividends and bonus payments to protect their capital position; insurance companies are asked to provide updated Solvency II ratios on a weekly basis; (iii) CONSOB called a three-month ban on shorting of all shares and lowered a minimum threshold beyond which it is required to communicate the participation in a listed company. These measures are aimed to contain the volatility of the financial markets and to strengthen the transparency of the holdings in the Italian companies listed on the Stock Exchange; (iv) 18 May 2020: Suspended the temporary ban on taking new net short position and the increase in existing net short positions. The Italian Companies and Exchange Commission (CONSOB) first introduced the ban on 17 March 2020. The ban will end on 18 May 2020; (v) 8 June 2020, Announced a new government bond exclusively dedicated to the retail market. This government bond is called the “BTP Futura”, and will solely finance expenses made by the Italian government to deal with the COVID-19 emergency, as well as to support the recovery of the Italian economy. The first issue will be Monday, 6 July 2020, to Friday, 10 July 2020.

Japan 11 11 - Other Economic Measures JPY OECD. https://www.oecd.org/coronavirus/en/ (accessed 6 May 2020). BOJ. https://www.boj.or.jp/en/announcements/release_2020/rel201216c.pdf (accessed 16 December 2020).

16 December 2020, The BOJ announced it will purchase USD6 billion in cash from the Ministry of Finance's for its operations including foreign currency supply to financial institutions.

Luxembourg 11 11 - Other Economic Measures EUR OECD. https://www.oecd.org/coronavirus/en/ (accessed 30 April 2020); WTO. https://www.wto.org/english/tratop_e/covid19_e/covid19_e.htm#faq (accessed 28 May 2020); RTL. https://today.rtl.lu/news/luxembourg/a/1505902.html (accessed 9 May 2020). Luxembourg government. https://mteess.gouvernement.lu/fr/actualites.gouvernement%2Bfr%2Bactualites%2Btoutes_actualites%2Bcommuniques%2B2020%2B10-octobre%2B06-adem-futureskills.html (accessed 9 October 2020)

(i) Temporary suspension of refunds for cancelled package holidays in support of travel agents; (ii) Commitment by Luxembourg banks to offer a 6-month moratorium on loans for SMEs, self-employed and liberal professionals; (iii) The Luxembourg authorities issued guidance on COVID19-related financial crime and AML/CT issues; (iv) To finance measures, the government issued a EUR2.5 billion bond (3.9% of 2019 GDP) at a negative interest rate; (v) Bilateral agreements with France and Belgium regarding the taxation of cross-border workers resorting to telework in the context of the current crisis; (vi) 6 September 2020, Job training for jobseekers with some secondary education. The program lasts three months and is focused on the development of soft skills, digital skills, project management skills, and optional training in office automation or data and coding.

Netherlands 11 11 - Other Economic Measures EUR Financien Belgium. https://financien.belgium.be/nl/Actueel/overeenkomst-tussen-de-bevoegde-autoriteiten-van-nederland-en-belgi%C3%AB-ter-verlenging-van-de (accessed 5 June 2020). Rijksoverheid. https://www.rijksoverheid.nl/actueel/nieuws/2020/06/19/bij-steun-overheid-moeten-bedrijven-onwenselijke-belastingconstructies-afbouwen (accessed 24 June 2020). Rijksoverheid. https://www.rijksoverheid.nl/actueel/nieuws/2020/06/23/eerste-kamer-stemt-in-met-wijziging-wet-gemeentelijke-schuldhulpverlening (accessed 24 June 2020). Rijksoverheid. https://www.rijksoverheid.nl/actueel/nieuws/2020/09/15/belastingplan-2021-beter-eerlijker-en-duurzamer-uit-de-crisis (accessed 24 September 2020)

(i) No amount/estimate: June 2, Extended the agreement on tax treatment of cross-border workers until June 30, 2020; (ii) Approved an amendment to the Municipal Debt Assistance Act, allowing municipalities to exchange data from citizens with payment arrears at an early stage with housing corporations, energy, and drinking water companies and health insurers to identify people with debts in time and to offer debt counseling. The amendment will take effect on January 1, 2021; (iii) Imposed new conditions on companies that seek support (including corona-related support) from the Dutch government: (a) the company cannot be located in a country that already has a low tax rate, and (b) the Dutch branches of the company cannot have paid interest or royalties to branches of the group in countries with too low tax rates; (iv) Under the proposed budget for 2021, the lower bracket corporate tax rate is lowered from 16.5% to 15%. It would also expand the number of SMEs eligible for the lower bracket.

New Zealand 11 11 - Other Economic Measures NZD IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 24 July 2020).

28 March 2020, The government announced the temporary removal of tariffs on all medical and hygiene imports needed for the COVID-19 response.

Norway 11 11 - Other Economic Measures NOK IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 8 May 2020); Ministry of Finance. https://www.regjeringen.no/en/aktuelt/economic-measures-in-norway-in-response-to-covid-192/id2695355/ (accessed 12 Apr2020); Ministry of Finance.https://www.regjeringen.no/en/aktuelt/mandate-established-for-management-of-government-bond-fund/id2695345/ (accessed 12April 2020).

(i) The Government Bond Fund bond fund was created with a starting capital of NOK50 billion. The fund will be managed by Folketrygdfondet, a state-owned asset manager; (ii) Urging from the Ministry of Finance to banks and insurance companies to not distribute profits; (iii) Automatic stabilizers: NOK37 billion reduced tax revenues; NOK18  billion,increased expenditure on unemployment benefits; NOK4 billion, increased sickness allowance; (iv) May 2020, The government has announced that oil production will be reduced until the end of the year.

Portugal 11 11 - Other Economic Measures EUR
Spain 11 11 - Other Economic Measures EUR Gabinete de Comunicacion. https://bit.ly/2YRE92n (accessed 21 March 2020); Reuters. https://reut.rs/2V1YdxM (accessed 1 April 2020);

(i) 17 March 2020, Economic dismissals related to COVID-19 are not allowed. Moreover, if a company reduces activity for reasons related to the COVID crisis, the maximum duration of the affected fixed-term contracts can be prolonged for the same number of months of the crisis; (ii) 31 March 2020, Prohibit evictions due to missed payments for all households until state of emergency lifted. Thereafter, evictions due to missed payments will be prohibited for a maximum of 6 months; (iii) 7 July 2020, Extension of some policies announced in March (moratorium of rent payment of vulnerable households, guarantee of utilities) to end-September. 29 September 2020, The suspension of the eviction procedure and the launches for vulnerable homes is extended until 31 January 2021.

Sweden 11 11 - Other Economic Measures SEK Reuters. https://reut.rs/3dqbdnr (accessed 15 June 2020).

12 June 2020, Sweden's parliament appointed two academics to review the unprecedented period of negative interest rates and massive asset purchases conducted by the central bank between 2015 and 2020.

Switzerland 11 11 - Other Economic Measures CHF/CHE/CHW OECD. http://www.oecd.org/coronavirus/en/ (accessed 13 April 2020). Federal Council. https://www.admin.ch/gov/de/start/dokumentation/medienmitteilungen.msg-id-78872.html (accessed 28 May 2020).

(i) 3 April 2020, the Federal Council announced the coordination of the supply of important medical products; (ii) The Federal Council mentioned the possibility of restricting exports of important medical products and the possibility to impose the production of some of these medical goods; (iii) 20 May 2020, the Federal Council dealt with the gradual phase-out of some COVID measures.

Turkey 11 11 - Other Economic Measures TRY Organisation for Economic Co-operation and Development (OECD). http://www.oecd.org/coronavirus/en/ (accessed 22 May 2020; 5 June 2020); Ministry of Commerce. https://ticaret.gov.tr/haberler/garanti-belgeleri-ve-servis-fislerinde-elektronik-donem (accessed 13 November 2020).

(i) 15 April 2020, Customs tariffs for certain steel products were increased by 5 percentage points for 3 months, to protect output and employment in the domestic industry; (ii) From 18 April 2020, a customs surcharge of 50% is applied to imports of game consoles. From October this surcharge will be reduced to 20%; (iii) 27 April 2020, measures tightening the processing of imported goods in customs under 'red line' rules involving individual examination were implemented; (iv) 2 May 2020, export restrictions on health products and equipment implemented since March are waived. Exports of protective masks and suits remain restricted; (v) 12 May 2020, To support domestic industries affected by the COVID-19 crisis, customs tariffs were augmented by between 1.9-30% for 750 product groups (including textile products, various consumer durables, construction materials etc.); (vi) 20 May 2020, Customs tariff increases were introduced for around 800 additional product lines (including construction equipment, agricultural machinery and food processing and packaging equipment). These surcharges do not apply to imports from EU Customs Union partner countries; (vii) 5 November 2020, Document applications on paper during the COVID-19 epidemic increased the risk of contact. The warranty documents and the delivery documents given when the product is delivered to the service station and the prepared service vouchers can now be given to consumers electronically with a permanent data storage.

United Kingdom 11 11 - Other Economic Measures GBP OECD. http://www.oecd.org/coronavirus/en/ (accessed 19 April 2020; 15 May 2020; 22 May 2020); Reuters. https://reut.rs/3hFCdTb (accessed 5 June 2020); GOV.UK. https://bit.ly/37PxJoj (accessed 18 June 2020); GOV.UK. https://bit.ly/2YkJrV4 (accessed 18 June 2020); GOV.UK. https://www.gov.uk/government/news/government-has-changed-the-law-so-most-renters-have-a-6-month-notice-period (accessed 31 August 2020); GOV.UK.https://www.gov.uk/government/news/cma-acts-to-protect-competition-on-uk-us-airline-routes (accessed 18 September 2020); GOV.UK. https://www.gov.uk/government/news/taskforce-for-safe-return-to-global-travel-launched (accessed 8 October 2020); Financial Reporting Council.https://www.frc.org.uk/news/october-2020/amendments-to-uk-and-ireland-accounting-standards (accessed 22 October 2020); GOV.UK. https://www.gov.uk/government/news/admin-fees-removed-for-covid-disrupted-rail-travel-on-advance-tickets (accessed 28 October 2020); GOV.UK. https://www.gov.uk/government/news/new-protections-for-renters-over-duration-of-national-restrictions (accessed 5 November 2020); GOV.UK. https://www.gov.uk/government/news/boost-for-restaurants-pubs-and-cafes-as-jenrick-extends-takeaway-services (accessed 12 November 2020).

(i) 5 June 2020, The Corporate Insolvency and Governance Bill has been proposed to introduce new corporate restructuring tools to the insolvency and restructuring regime, temporarily suspend parts of the insolvency law, and to amend Company Law and other legislation; (ii) 6 June 2020, The government extended ban on evicting tenants from social or private accommodation in England and Wales by two months to 23 August 2020 due to the COVID outbreak; (iii) 9 June 2020, People on paternity and maternity leave who return to work in the coming months will be eligible for the government's furlough scheme, the Coronavirus Job Retention Scheme (CJRS), after the 10 June 2020 cut-off date; (iv) 28 August 2020, Legislation has been introduced that requires landlords to give tenants 6 months’ notice before they can evict, until March 2021; (v) 17 September 2020, Due to coronavirus, the Competition and Markets Authority has imposed measures to protect competition on UK-US air routes while it investigates an agreement involving British Airways and American Airlines; (vi) 7 October 2020, A new Global Travel Taskforce to support the travel industry and the safe recovery of international travel has been launched by the government; (vii) 14 September 2020, FCA prepares additional guidance note for mortgage relief for borrowers, confirming its support to those who continue to face payment difficulties due to coronavirus; (viii) October 2020, Amendments to FRS 102 and FRS 105 – COVID-19-related rent concessions – which sets clear requirements for recognizing changes in operating lease payments arising from COVID-19-related rent concessions on a systematic basis over the periods the change in lease payments is intended to compensate. These amendments are effective for accounting periods beginning on or after 1 January 2020, with early application permitted; (ix) 26 October 2020, Passengers who have bought an advance ticket which they can subsequently no longer use as a result of COVID restrictions will not have to pay the administration cost of rearranging travel; (viii) 5 November 2020, Renters will be protected during the national restrictions, with no bailiff enforcement action; (x) 11 November 2020, Restaurants, pubs and cafes will get automatic freedoms to provide takeaway services, which was originally set to end in March 2021 but will now be extended for another year.

United States 11 11 - Other Economic Measures USD WTO. https://www.wto.org/english/tratop_e/covid19_e/covid19_e.htm#faq (accessed 11 April 2020); The White House. https://www.whitehouse.gov/presidential-actions/executive-order-prioritizing-allocating-health-medical-resources-respond-spread-covid-19/ (accessed 18 April 2020). NPR. https://www.npr.org/sections/coronavirus-live-updates/2020/04/29/847468328/tip-of-the-iceberg-economy-likely-shrank-but-worst-to-come (accessed 29 April 2020). FT. https://www.ft.com/content/ff49e13e-5f04-4443-9248-caaa3cd38443 (accessed 7 May 2020). FT https://www.ft.com/content/2a297508-c8d0-4736-8c2f-9f4d16822f57 (accessed 8 May 2020).FT https://www.ft.com/content/0b582c93-2bec-46db-a6e3-e5026b3faeb0 (accessed 14 May 2020). CNN. https://www.cnn.com/2020/05/15/economy/retail-sales-record-drop-april/index.html (accessed 15 May 2020).

US President Donald J. Trump has already declared himself a “war-time” president and invoked war production powers to combat the COVID-19 crisis. (i) Temporary exclusion of certain products from the additional duty of 25% on a list of products (imposed on September 1, 2019). Published on 20 March 2020, but effective retroactively from 1 September 2019; (ii) Presidential Memoranda allocating to domestic use certain personal protective equipment (e.g., N-95 filtering facepiece respirators; other filtering facepiece respirators; elastomeric, air-purifying respirators and appropriate particulate filters/cartridges; PPE surgical masks; and PPE gloves or surgical glove), due to the COVID-19 pandemic; (iii) No amount/estimate: 1 July 2020, 5 federal financial regulatory agencies announced an extension of the swap margin rule compliance dates, allowing an additional year for swap dealers, major swap participants, security-based swap dealers, and major security-based swap participants to implement the initial margin requirements for certain smaller counterparties;