|Economy||Measure Code||Measure||Currency Code||Amount (Local)||Amount (USD)||Source||Post Date||Details|
|Bangladesh||02||02 - Credit creation||BDT||250,000,000,000||2,942,907,593|
|Bangladesh||02A||02A - Financial sector lending/funding||BDT||250,000,000,000||2,942,907,593||Ministry of Finance. https://mof.portal.gov.bd/sites/default/files/files/mof.portal.gov.bd/page/ed9e8b19_ccba_4cca_94b1_c40013f7a760/MTMPS_2020-21_English.pdf (accessed 29 June 6)||
The Ministry of Finance will subsidize interest payments on up to BDT500 billion in working capital loans by scheduled banks to businesses. Half of this amount (BDT 250 billion) will be refinanced by Bangladesh Bank and is included in Item 1 above. Remaining BDT250 billion will be financed by commercial banks from their own funds.
|Bangladesh||02B||02B - Support policies for long-term lending||BDT||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accesed 1 May 2020). Bdnews24. https://bdnews24.com/economy/2020/06/15/bangladesh-gives-bank-loan-defaulters-until-september-to-repay-instalments (accessed 26 June 2020). Bangladesh Bank. https://www.bb.org.bd/mediaroom/circulars/dos/may112020dos03.pdf (accessed 29 June 2020). Bangladesh Bank. https://www.bb.org.bd/mediaroom/circulars/fepd/mar232020fepd15e.pdf (accessed 29 June 2020). Banglasdesh Bank. https://www.bb.org.bd/monetaryactivity/mps/mps.php (accessed 31 July 2020).||
No amount/estimate: (i) The repo rate has been lowered from 6 percent to 5.75% (effective March 24th) and will be further reduced to 5.25% effective April 12th; and (ii) The Bangladesh Bank (BB) has also raised the advance-deposit ratio (ADR) and investment-deposit ratio (IDR) by 2% to facilitate credit to the private sector and improve liquidity in the banking system; (iii) BB took measures to delay non-performing loan classification; (iv) Banks with capital adequacy ratio (CAR) (in relation to their risk-weighted assets (RWA)) of 12.50% or above will be permitted to declare up to 30% dividend (of which cash dividend may be up to 15%); banks with CAR between 11.25% and 12.50% may declare dividend up to 15% (of which maximum cash dividend may be 7.5%); banks with CAR below 11.25% may declare dividend up to 10% (of which maximum cash dividend may be 5%). Cash dividend can be distributed before September 30 in favor of individual (local and foreign) investors; (v) June 15, loan defaulters given until September to repay loans before they are considered default; (vi) Banks may, without repayment guarantee, advance credit up to USD 500k for import of coronavirus related life-saving drugs, medical kits/equipment and other essential medical items; (vii) No amount/estimate: July 29, Bangladesh Bank in its monetary policy statement announced: (a) Overnight repo rate from 5.25% to 4.75%, (b) reverse repo rate from 4.75% to 4.00%, (c) Bank Rate which remained unchanged for the last 17 years (since 2003) to be reduced from 5.00% to 4.00%.
|Bangladesh||02C||02C - Loan guarantees||BDT|
|Bangladesh||04||04 - Equity support||BDT|
|Bangladesh||06||06 - Budget reallocation||BDT|
|Bhutan||02||02 - Credit creation||BTN/INR|
|Bhutan||02A||02A - Financial sector lending/funding||BTN/INR|
|Bhutan||02B||02B - Support policies for long-term lending||BTN/INR|
|Bhutan||02C||02C - Loan guarantees||BTN/INR|
|Bhutan||04||04 - Equity support||BTN/INR|
|Bhutan||06||06 - Budget reallocation||BTN/INR||1,300,000,000||17,492,822||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 24 July 2020).||
April, A budget of BTN1.3 billion has been re-appropriated for health, essential food and fuel, quarantine and related initiatives.
|European Central Bank||02||02 - Credit creation||EUR||4,470,000,000,000||4,944,690,265,487|
|European Central Bank||02A||02A - Financial sector lending/funding||EUR||4,470,000,000,000||4,944,690,265,487||OECD. http://www.oecd.org/coronavirus/en/#country-tracker (accessed 29 April 2020); ECB. https://www.ecb.europa.eu/press/accounts/2020/html/ecb.mg200522~f0355619ae.en.html (accessed 22 May 2020); ECB. https://www.ecb.europa.eu/press/pr/date/2020/html/ecb.mp200604~a307d3429c.en.html ( accessed 9 June 2020).||
(i) March 12, estimated EUR3 trillion for the targeted longer-term refinancing operations (TLTROs) which are Eurosystem operations that provide financing to credit institutions. By offering banks long-term funding at attractive conditions they preserve favourable borrowing conditions for banks and stimulate bank lending to the real economy; (ii) March 12, Adding a temporary envelope of additional net asset purchases of EUR120 billion until the end of the year; (iii) March 18, launched a new temporary asset purchase programme of private and public sector securities (Pandemic Emergency Purchase Programme, PEPP) with an overall envelope of EUR 750 billion until the end of 2020. Some self-imposed purchase limits will not apply to the PEPP. A waiver of the eligibility requirements for securities issued by the Greek government will be granted for purchases under PEPP. Based on The European Central Bank is “fully prepared” to provide even more stimulus as soon as June to support an economy that may shrink by a tenth this year due to the COVID-19 pandemic, the accounts of the bank’s April meeting showed on Friday; (iv) expanding the range of eligible assets under the corporate sector purchase programme (CSPP) to non-financial commercial paper; (v) June 4, The PEPP envelope will be increased by EUR600 billion to a total of EUR1,350 billion. The purchases will continue to be conducted in a flexible manner over time, across asset classes and among jurisdictions. This allows the Governing Council to effectively stave off risks to the smooth transmission of monetary policy. The horizon for net purchases under the PEPP will be extended to at least the end of June 2021. In any case, the Governing Council will conduct net asset purchases under the PEPP until it judges that the coronavirus crisis phase is over .
|European Central Bank||02B||02B - Support policies for long-term lending||EUR||EC. https://www.ecb.europa.eu/mopo/implement/omt/html/cspp-qa.en.html (accessed 15 April 2020); EC. https://www.ecb.europa.eu/press/blog/date/2020/html/ecb.blog200409~3aa2815720.en.html (accessed 18 April 2020); EC. https://www.ecb.europa.eu/press/pr/date/2020/html/ecb.pr200430_1~477f400e39.en.html [accessed 3 May 2020]; EC. https://www.ecb.europa.eu/mopo/implement/omo/html/index.en.html (accessed 30 April 20202); OECD. http://www.oecd.org/coronavirus/en/#country-tracker (accessed 18 April 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 9 May 2020); ECB. https://www.bankingsupervision.europa.eu/press/pr/date/2020/html/ssm.pr200728_1~42a74a0b86.en.html (accessed 30 July 2020).||
(i) March 12, Lowering the interest rate applied in targeted longer-term refinancing operations (TLTRO III) during the period from June 2020 to June 2021 (25 basis points below the average rate applied in the Eurosystem's main refinancing operations). On April 30, ECB lowered the rate on the third round of targeted longer-term refinancing operations (TLTRO III) to -1% from -0.75%. On the same day, ECB decided to conduct a series of seven pandemic emergency longer-term refinancing operations (PELTROs) to provide liquidity support to the euro area financial system and ensure smooth money market conditions during the pandemic period. No amount/estimate: (ii) relaxation of countercyclical capital buffer (CCyB); (iii) March 20, Flexibility in treatment of non-performing loans (NPLs) to allow banks to fully benefit from public guarantees and moratoriums and of banks' implementation of NPL reduction strategies; (iv) March 27, requirement for banks not to pay dividends until at least 1 October 2020.; (v) see (ii) on CCB in Measure 1; (vi) April 28, the European Commission proposed a number of changes to the Capital Requirements Regulation (Regulation (EU) 575/2013) to provide temporary capital relief to banks. These changes include inter alia extending by 2 years the current transitional arrangements for mitigating the impact of IFRS 9 provisions on regulatory capital, a later date of application of the leverage ratio buffer for global systemically important institutions, a more favourable treatment of publicly guaranteed loans under the NPL prudential backstop (the minimum loss coverage requirement for non-performing loans), and advancing the date of application of capital reduction factors in respect of certain loans to SMEs or in support of infrastructure investments; (vii) No amount/estimate: April 30, New series of non-targeted PELTROs, conducted as fixed rate tender procedures with full allotment, rate fixed at 25bp below refi rate. Operations mature in staggered sequence between July-September 2021; (viii) No amount/estimate: ECB recommended for banks not to pay dividends until January 2021 and clarified that it will not require banks to start replenishing their capital buffers before the peak in capital depletion is reached .
|European Central Bank||02C||02C - Loan guarantees||EUR|
|European Central Bank||04||04 - Equity support||EUR|
|European Central Bank||06||06 - Budget reallocation||EUR|
|European Union||02||02 - Credit creation||EUR||53,287,000,000||58,945,796,460|
|European Union||02A||02A - Financial sector lending/funding||EUR||7,200,000,000||7,964,601,770||EIB. https://www.eib.org/en/press/all/2020-145-eib-joins-forces-with-dll-to-provide-up-to-eur400-million-to-finance-the-investments-of-smes-in-spain-and-italy (accessed 19 June 2020); EIB. https://www.eib.org/en/press/all/2020-182-credit-mutuel-alliance-federale-et-la-bei-s-engagent-a-hauteur-de-1-2-milliard-d-euros-pour-soutenir-les-pme-et-eti (accessed 9 July 2020); EIB. https://www.eib.org/en/press/all/2002-206-eib-group-and-banco-santander-consumer-portugal-provide-eur-587-million-for-portuguese-smes-and-mid-caps-affected-by-covid-19-crisis (accessed 27 July 2020); EC. https://ec.europa.eu/commission/presscorner/detail/en/qanda_20_946 (accessed 5 September 2020).||
(i) June 15, The European Investment Bank (EIB) has provided EUR200 million in financing to DLL, a global asset finance company for equipment and technology, and wholly owned subsidiary of Rabobank, to support small and medium-sized enterprises (SMEs) and contribute to a greener economy; (ii) July 6, EIB granted two lines of credit totaling EUR600 million which will allow Crédit Mutuel Alliance Fédérale to lend more than EUR1.2 billion to French SMEs and mid-caps ; (iii) July 1, The EIB will grant EUR450 million to BBVA, which will in turn add a further EUR450 million, bringing the financing made available to the SMEs and mid-caps in question to EUR900 million; (iv) July 27, EIB joined with Banco Santander Consumer Portugal (BSCP) to support Portuguese small and medium-sized enterprises (SMEs) and mid-caps affected by the COVID-19 crisis with EUR587 million; (v) June, EUR5.3 billion for the Solvency Support Instrument that will work via an EU guarantee provided to the European Investment Bank (EIB) Group under the European Fund for Strategic Investments (EFSI). Solvency support will form a separate window under the EFSI to mobilise private capital. The EIB Group will use this guarantee to provide financing directly or invest, fund or guarantee equity funds, special purpose vehicles, investment platforms or national promotional banks. These intermediary funds or vehicles must be established and operate in the EU. The Solvency Support Instrument should predominantly channel solvency support through financial market intermediaries and only to a lesser degree facilitate direct support to companies by the EIB Group [update].
|European Union||02B||02B - Support policies for long-term lending||EUR||Yale. https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-financial-stability/covid-19-crisis (accessed 29 April 2020); EC. https://ec.europa.eu/commission/presscorner/detail/en/ip_20_740 (accessedd 19 August 2020); EC. https://ec.europa.eu/commission/presscorner/detail/en/IP_20_1382 (accessed 19 August 2020).||
(i) No amount/breakdown: April 22, Provided guidance on the use of flexibility in relation to COVID-19 and called for heightened attention to risks. The European Banking Authority (EBA) proposed to introduce the use of a 66% aggregation factor to be applied until December 31, 2020 under the "core approach." EBA intended to delay reporting for the first FRTB-SA figures until September 2021. EBA emphasized flexibility in the prudential requirements available to competent authorities for banks using VaR models. EBA also clarified the prudential application on the definitions of "default" and "forbearance," and how the EBA Guidelines on legislative and non-legislative moratoria on loan repayments apply to securitizations; (ii) No amount/breakdown: June 18, the European Parliament and the European Council adopted the “banking package,” which provides targeted and exceptional legislative changes to the capital requirements regulation (CRR 2), including greater flexibility in the application of the EU’s accounting and prudential rules, which are aimed at facilitating bank lending to support the economy ; (iii) July 24, the EC proposed a Capital Markets Recovery Package with targeted adjustments to capital market rules, which aim to encourage greater investments in the economy, allow for the rapid re-capitalization of companies, and increase banks' capacity to finance the recovery .
|European Union||02C||02C - Loan guarantees||EUR||46,087,000,000||50,981,194,690||EC. https://ec.europa.eu/commission/presscorner/detail/en/ip_20_569 (accessed 16 April 2020); EC. https://ec.europa.eu/regional_policy/en/newsroom/news/2020/01/14-01-2020-financing-the-green-transition-the-european-green-deal-investment-plan-and-just-transition-mechanism (accessed 19 April 2020); EIB. https://www.eib.org/en/press/all/2020-086-eib-group-will-rapidly-mobilise-eur-40-billion-to-fight-crisis-caused-by-covid-19 (accessed 16 April 2020); OECD. http://www.oecd.org/coronavirus/en/#country-tracker (accessed 18 April 2020); European Finance Network. https://www.european-microfinance.org/news/investeu-programme-questions-and-answers (accessed 19 April 2020); SP Global. https://www.spglobal.com/en/research-insights/articles/covid-19-daily-update-april-16-2020 (accessed 19 April 2020); EIB. https://www.eib.org/en/press/all/2020-126-eib-board-approves-eur-25-billion-pan-european-guarantee-fund-to-respond-to-covid-19-crisis.htm (accessed 1 June 2020); EIB. https://www.eib.org/en/press/all/2020-174-covid-19-eib-group-and-bbva-provide-eur1423-billion-for-smes-and-mid-caps-affected-by-the-crisis (accessed 9 July 2020).||
(i) April 6, The EIB redirected EUR1 billion from the EU Budget as a guarantee to the European Investment Fund to incentivize banks to provide liquidity to affected SMEs and midcaps; (ii) The EIB's EUR20 billion in dedicated guarantee schemes to banks based on existing programmes for immediate deployment; (iii) 09 April, EIB proposal to create a EUR25 billion guarantee fund, which will support up to EUR200 billion of financing for companies (especially SMEs) throughout the EU. The scheme will be implemented by the EIB Group, in close partnership with national promotional banks and other financial intermediaries; (iv) No amount/estimate: European Green Deal investments will remain a priority as part of the EU's efforts to kickstart its economy post-crisis. The commission hopes to mobilize at least 1 trillion euros ($1.1 trillion) of sustainable investments in the next 10 years to help the bloc become climate-neutral by 2050. The InvestEU Fund will mobilise public and private investment through an EU budget guarantee; (v) 26 May, The Board of Directors of the EIB has agreed on the structure and business model of the new Pan-European Guarantee Fund (EGF). Member State contributions to the EGF will take the form of guarantees and may include an upfront payment. Such guarantees will cover losses incurred in the operations supported by the EGF. Any losses will be borne pro rata by the participating countries. At least 65% of the financing are earmarked for SMEs. A maximum of 23% will go to companies with 250 or more employees, with restrictions applying to larger companies with more than 3,000 staff. A maximum of 5% of the financing can go to public sector companies and entities active in the area of health. Another 7% of EGF-supported financing can be allocated to venture and growth capital and venture debt in support of SMEs and midcaps; (vi) July 1, EIB Group – via the European Investment Fund (EIF), its subsidiary specialising in venture capital for SMEs – has provided BBVA with an EUR87 million guarantee for an SME loan portfolio via synthetic securitisation.
|European Union||04||04 - Equity support||EUR||549,000,000||607,300,885||EIB. https://www.eib.org/en/press/all/2020-103-eib-backs-eur5-billion-investment-to-mitigate-economic-impact-of-coronavirus-and-support-medical-technology (accessed 29 April 2020); Yale. https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-financial-stability/covid-19-crisis (accessed 29 April 2020); EC. https://ec.europa.eu/commission/presscorner/detail/en/ip_20_1007 (accessed 12 June 2020); EC. https://ec.europa.eu/commission/presscorner/detail/en/ip_20_1507 (accessed 27 August 2020).||
(i) April 8, The Commission is launching ESCALAR, a new investment approach, developed together with the European Investment Fund (EIF), that will support venture capital and growth financing for promising companies. In its pilot phase, ESCALAR will provide up to EUR300 million backed by the European Fund for Strategic Investments (EFSI); (ii) April 24, EIB also approved an equity investment worth EUR75 million for the German company Curevac, through the EIB's Infectious Disease Financing Facility; (iii) June 8, EUR174 million equity investments from the European Innovation Council (EIC) Accelerator Pilot funding to innovative startups and SMEs; (iv) June, EUR5.3 billion for the Solvency Support Instrument that will work via an EU guarantee provided to the European Investment Bank (EIB) Group under the European Fund for Strategic Investments (EFSI). Solvency support will form a separate window under the EFSI to mobilise private capital. The EIB Group will use this guarantee to provide financing directly or invest, fund or guarantee equity funds, special purpose vehicles, investment platforms or national promotional banks. These intermediary funds or vehicles must be established and operate in the EU. The Solvency Support Instrument should predominantly channel solvency support through financial market intermediaries and only to a lesser degree facilitate direct support to companies by the EIB Group [update].
|European Union||06||06 - Budget reallocation||EUR||1,000,000,000||1,106,194,690||OECD. http://www.oecd.org/coronavirus/en/#country-tracker (accessed 15 April 2020); EC. https://ec.europa.eu/regional_policy/en/newsroom/news/2020/01/14-01-2020-financing-the-green-transition-the-european-green-deal-investment-plan-and-just-transition-mechanism (accessed 19 April 2020).||
March, the EIB redirected EUR1 billion from the EU Budget as a guarantee to the European Investment Fund to incentivize banks to provide liquidity to affected SMEs and mid-caps.
|India||02||02 - Credit creation||INR||4,254,809,580,000||57,252,791,199|
|India||02A||02A - Financial sector lending/funding||INR||1,254,809,580,000||16,884,739,382||Reserve Bank of India. https://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=50176 (accessed 12 August 2020). IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 5 May 2020).||
(i) The RBI introduced long-term repo operations (0.4% of GDP for the first tranche and 0.2% of GDP for the second tranche; 1–3 years); (ii) August 6, Established special refinance facilities for a total amount of INR650 million for all India financial institutions (AIFIs); (iii) August 6, Extended INR250 million to the National Bank for Agriculture and Rural Development (NABARD) to back agricultural operations in the wake of challenges posed by COVID-19.
|India||02B||02B - Support policies for long-term lending||INR||RBI. https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=49844 (accessed 10 June 2020), https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=49843, https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=11893&Mode=0, https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=11894&Mode=0 (both accessed 26 May 2020). Economic Times, India Times. https://economictimes.indiatimes.com/markets/stocks/news/no-extension-of-loan-moratorium-but-rbi-introduces-debt-resolution-plan-for-eligible-borrowers/articleshow/77392810.cms (accessed 21 August 2020). IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 21 August 2020).||
No amount/estimate: (i) RBI provided regulatory forbearance on asset classification of loans to micro, small, and medium enterprises (MSMEs) and real estate developers and introduced regulatory measures to promote credit flows to the retail sector and MSMEs. (ii) The Securities and Exchange Board of India temporarily relaxed the norms related to debt default on rated instrument and delayed the implementation of the net stable funding ratio and the last stage of the phased-in implementation of the capital conservation buffers by 6 months. (iii) The limit for foreign portfolio investment (FPI) in corporate bonds has been increased to 15% of outstanding stock for FY 2020/21 and restriction on nonresident investment in specified securities issued by the Central Government was removed. (iv) March 27, The RBI reduced the repo and reverse repo rates by 75 and 90 basis points (bps) to 4.4% and 4.0%, respectively. April 17-20: (v) the RBI reduced the reverse repo by 25 bps to 3.75%; (vi) announced a standstill on asset classifications during the 3-month loan moratorium period with 10% provisioning requirement and an extension of the time period for resolution timeline of large accounts under default by 90 days; (vii) Restriction on banks from making dividend payouts; (viii) May 22, the RBI reduced the repo and reverse repo rates further by 40 bps each to 4.0% and 3.35% respectively, and reduced the marginal standing facility and bank rates from 4.65% to 4.25%; No amount/estimate: (ix) May 22, Authorities have also increased the large exposure limit from 25% to 30% of bank capital. Under the extant guidelines on the Large Exposures Framework, the exposure of a bank to a group of connected counterparties shall not be higher than 25% of the bank’s eligible capital base at all times; (x) June 21, the RBI directed banks to assign zero % risk weight on the credit facilities extended under the emergency credit line guarantee scheme; (xi) August 6, the RBI permitted banks to restructure existing loans to MSMEs classified as "standard” as of March 1, 2020 without a downgrade in the asset classification. Banks are required to maintain additional provision of 5% over and above the provision already held by them for accounts restructured; (xii) August 6, the RBI also permitted lenders to implement a resolution plan in respect of eligible corporate exposures as well as personal loans, keeping the ownership unchanged, and without classifying them as non-performing loans. 10% provisioning is required.
|India||02C||02C - Loan guarantees||INR||3,000,000,000,000||40,368,051,817||Financial Times. https://www.ft.com/content/5734f333-e4d7-4ebf-9de2-220e537da3f0?accessToken=zwAAAXIRWB3Ykc9XNPMz5NdOv9Od4iIOU32j8A.MEQCIE1obkN05q4qkjoiBgF6riG66o6ocs0SQWfl2AsFIikHAiADu_DmNRDP9bo3QfxgYpytmLV8FGnEHOa8g66dgBdahQ&sharetype=gift?token=4a849e3f-c1b7-487d-ba1d-e73f283cd8c8 (accessed 14 May 2020). India Economics Update, Capital Economics.||
May 13, INR3 trillion worth of loan guarantees for small and medium-sized companies.
|India||04||04 - Equity support||INR|
|India||06||06 - Budget reallocation||INR|
|Maldives||02||02 - Credit creation||MVR|
|Maldives||02A||02A - Financial sector lending/funding||MVR|
|Maldives||02B||02B - Support policies for long-term lending||MVR|
|Maldives||02C||02C - Loan guarantees||MVR|
|Maldives||04||04 - Equity support||MVR|
|Maldives||06||06 - Budget reallocation||MVR|
|Nepal||02||02 - Credit creation||NPR||200,000,000,000||1,754,693,806|
|Nepal||02A||02A - Financial sector lending/funding||NPR||200,000,000,000||1,754,693,806||NRB. https://archive.nrb.org.np/bfr/circular/2076-77/2076_77_(Notice)--18-Covid-19_Related-new.pdf (accessed 6 July 2020); NRB. https://www.nrb.org.np/contents/uploads/2020/07/Monetary_Policy_in_Nepali-2077-78_Full_Text-new-1.pdf (accessed 17 July 2020).||
March 29: (i) NRB announced a refinancing fund of NPR60 billion to provide subsidized credit for banks willing to lend at a concessional rate to priority sectors including small and mid-size enterprises affected by the pandemic. Banks were instructed to approve loans within 5 days pertaining to import and distribution of medical supplies and equipment, food, and other essential items to combat COVID-19 pandemic; On July 17, NRB released the Monetary Policy for this fiscal year 2021 (ending 15 July 2021). The bank has increased the refinancing fund to NPR200 billion (USD1.7 billion); (ii) No amount/estimate: Banks were asked to provide subsidized credit to migrant workers to initiate their own enterprises, who could not depart for foreign employment due to this pandemic, within 7 days of their loan application; (iii) No amount/estimate: May 28, The budget speech for fiscal 2020/21 includes a provision for commercial banks to lend subsidized credit to at least 10 individuals per branch and development banks to at least 5 individuals per branch.
|Nepal||02B||02B - Support policies for long-term lending||NPR||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 2 September 2020); NRB. https://www.nrb.org.np/cmfm_rates/policy_rates (accessed 25 June 2020); NRB.https://archive.nrb.org.np/bfr/circular/2076-77/2076_77_(Notice)--18-Covid-19_Related-new.pdf (accessed 6 July 2020); NRB. https://www.nrb.org.np/contents/uploads/2020/07/Monetary_Policy_in_Nepali-2077-78_Full_Text-new-1.pdf (accessed 17 July 2020).||
No amount/estimate: March 29: (i) The NRB is no longer requiring banks to build up the 2% countercyclical capital buffer as provisioned under Capital Adequacy Framework 2015 that was due in July 2020; (ii) The NRB temporarily relaxed reporting norms and announced that bank and financial institutions will not be charged or penalized for their non-compliance with regulatory and supervisory requirements in April; (iii) NRB reduced interest rate on the standing liquidity facility from 6% to 5%; (iv) April 29, The NRB directed banks to apply lower interest rates (up to 2 percentage points) when calculating the interest due for the period of mid-April to mid-July, applicable to borrowers from affected sectors; (v) The policy rate or repo rate was cut by 100 basis points to 3.5%; On July 17, it was further cut by 50 basis points to 3%; (vi) July 17, The limit on the loan-to-value ratio for personal residential home loans was raised to 60%and margin natured loans to 70% from 65%. The limit on banks’ total loans was raised to 85% of the sum of core credit and deposits from 80%. The NRB requires banks to increase their loans to priority sectors, such as agriculture, energy, tourism, and micro, small and mid-size enterprises, to 40% from 25% by 2024.
|Nepal||02C||02C - Loan guarantees||NPR|
|Nepal||04||04 - Equity support||NPR|
|Nepal||06||06 - Budget reallocation||NPR|