|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).||
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. [update]
|Bangladesh||02C||02C - Loan guarantees||BDT|
|Bangladesh||07||07 - Central bank financing government||BDT||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accesed 14 April 2020).||
No amount/estimate: The Bangladesh Bank has announced that it will buy treasury bonds and bills from banks.
|Bangladesh||07A||07A - Direct lending and reserve drawdown||BDT|
|Bangladesh||07B||07B - Secondary purchase: government securities||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||07||07 - Central bank financing government||BTN/INR|
|Bhutan||07A||07A - Direct lending and reserve drawdown||BTN/INR|
|Bhutan||07B||07B - Secondary purchase: government securities||BTN/INR|
|India||02||02 - Credit creation||INR||4,253,909,580,000||57,240,680,784|
|India||02A||02A - Financial sector lending/funding||INR||1,253,909,580,000||16,872,628,967||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 5 May 2020).||
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).
|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). IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 03 June 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) May 22, the RBI reduced the repo and reverse repo rates further by 40 bps each to 4.0% and and 3.35% respectively, and reduced the marginal standing facility and bank rates from 4.65% to 4.25%; (viii) No amount/estimate: 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.
|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||07||07 - Central bank financing government||INR||100,000,000,000||1,345,601,727|
|India||07A||07A - Direct lending and reserve drawdown||INR||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 5 May 2020).||
April 20, The RBI increased the limit for ways and means advances for the Central Government (a short-term liquidity facility) for the remaining part of the first half of the FY 2020/21 from INR 1.2 trillion to INR2.0 trillion. The WMA is a temporary liquidity facility offered by the RBI to the government that acts as a credit line that the government may call upon to help them reconcile short-term mismatches in cash flows of their receipts and expenditures.
|India||07B||07B - Secondary purchase: government securities||INR||100,000,000,000||1,345,601,727||RBI. https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=49712||
April 27: INR100 billion purchase of government securities under Open Market Operations (OMO).
|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||07||07 - Central bank financing government||MVR|
|Maldives||07A||07A - Direct lending and reserve drawdown||MVR|
|Maldives||07B||07B - Secondary purchase: government securities||MVR|
|Nepal||02||02 - Credit creation||NPR|
|Nepal||02A||02A - Financial sector lending/funding||NPR||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 25 June 2020).||
No amount/estimate: March 29, The size of the Refinance Fund has been increased to provide subsidized funding for banks willing to lend at a concessional rate to priority sectors including small and mid-size enterprises affected by the pandemic.
|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 25 June 2020); NRB. https://www.nrb.org.np/cmfm_rates/policy_rates (accessed 25 June 2020).||
No amount/estimate: March 29: (i) The NRB is no longer requiring banks to build up the 2% countercyclical capital buffer 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.
|Nepal||02C||02C - Loan guarantees||NPR|
|Nepal||07||07 - Central bank financing government||NPR|
|Nepal||07A||07A - Direct lending and reserve drawdown||NPR|
|Nepal||07B||07B - Secondary purchase: government securities||NPR|
|Sri Lanka||02||02 - Credit creation||LKR||150,000,000,000||810,562,472|
|Sri Lanka||02A||02A - Financial sector lending/funding||LKR||150,000,000,000||810,562,472||CBSL. https://www.cbsl.gov.lk/sites/default/files/cbslweb_documents/press/pr/press_20200616_the_central_bank_of_sri_lanka_implements_new%20Credit%20Schemes%20_to_support_the_revival_of_the_economy_e.pdf (accessed 26 June 2020); CBSL. https://www.cbsl.gov.lk/en/news/cb-approved-rs-28-billion-to-businesses-affected-by-covid19 (accessed 26 June 2020).||
June 16, The Central Bank implemented new Credit Schemes to support the revival of economic activity to support lending to business segments affected by COVID-19 (construction and other needy sectors) at the concessional rate of 4% per annum. This scheme along with the existing refinance Scheme will provide LKR150 billion in total to the businesses affected by the COVID-19 pandemic (See other details in Measure 10) [update].
|Sri Lanka||02B||02B - Support policies for long-term lending||LKR||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 11 June 2020); CBSL. https://www.cbsl.gov.lk/en/rates-and-indicators/policy-rates (accessed 12 June 2020).||
No amount/estimate: April 16: (i) The CBSL has reduced monetary policy rates by 50 basis points since March; (ii) The rate at which CBSL grants advances to commercial banks for temporary liquidity needs has been lowered by 500 basis points from 15% to 10%; (iii) Lower capital conservation buffer requirements and a relaxation of loan classification rules have been announced; (iv) May 6, The CBSL has reduced monetary policy rates by 100 basis points since March from 6.5% to 5.5% for the Standing Deposit Facility Rate and from 7.5% to 6.5% for the Standing Lending Facility Rate. The bank rate was also reduced by 50 basis points from 10% to 9.5% [update].
|Sri Lanka||02C||02C - Loan guarantees||LKR||CBSL. https://www.cbsl.gov.lk/sites/default/files/cbslweb_documents/laws/cdg/dod_20200618_operating_instructions_no_35_03_023_0001_001_e_0.pdf (accessed 26 June 2020).||
No amount/estimate: June 16, The government and the Monetary Board of the Central Bank of Sri Lanka (CBSL) provided construction sector enterprises with a facility to borrow from licensed commercial banks (LCBs), using guarantees issued by the government equivalent to the amount due on account of contracts carried out in the past, made available at the concessionary rate of 1% per annum, for a period of 180 days [update].
|Sri Lanka||07||07 - Central bank financing government||LKR|
|Sri Lanka||07A||07A - Direct lending and reserve drawdown||LKR|
|Sri Lanka||07B||07B - Secondary purchase: government securities||LKR|