Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Australia 02 02 - Credit creation AUD 255,000,000,000 158,558,999,891
Australia 02A 02A - Financial sector lending/funding AUD 215,000,000,000 133,686,999,908 RBA. https://www.rba.gov.au/mkt-operations/term-funding-facility/ (accessed 16 April 2020); Department of Treasury. https://treasury.gov.au/sites/default/files/2020-05/Overview-Economic_Response_to_the_Coronavirus_3.pdf (accessed 3 June 2020); Department of Treasury. https://ministers.treasury.gov.au/ministers/josh-frydenberg-2018/media-releases/government-invest-15b-support-sme-lending (accessed 3 June 2020); RBA. https://www.rba.gov.au/covid-19/ (accessed 03 June 2020); RBA. https://www.rba.gov.au/media-releases/2020/mr-20-20.html (accessed 01 September 2020).

(i) April, The government is allocating up to AUD15 billion to invest in residential mortgage-backed securities and asset-backed securities to help funding for small banks and non-bank financial institutions; (ii) April, To allow banks to lend more to small and medium enterprises (SMEs) during the period of disruption caused by COVID-19, RBA has established a Term Funding Facility (TFF) of at least AUD90 billion for SMEs lending (TFF will offer three-year funding to authorized deposit-taking institutions [ADIs]). On September 1, RBA announced an expansion to the TFF. ADIs will have access to additional funding, equivalent to 2% of their outstanding credit, at a fixed rate of 25 basis points for three years. ADIs will be able to draw on this extra funding up until the end of June 2021. As of September 1, ADIs have drawn AUD52 billion under the TFF. The current expansion brings the total amount available under this facility to around AUD200 billion [update].

Australia 02B 02B - Support policies for long-term lending AUD RBA. https://www.rba.gov.au/speeches/2020/sp-gov-2020-03-19.html (accessed 11 April 2020); RBA. https://www.rba.gov.au/media-releases/2020/mr-20-13.html (accessed on 5 May 2020); Australian Prudential Regulation Authority (APRA). https://www.apra.gov.au/news-and-publications/apra-announces-deferral-of-capital-reform-implementation (accessed 3 June 2020); RBA. https://www.rba.gov.au/speeches/2020/sp-dg-2020-06-30.html#fn2 (accessed 01 July 2020); RBA. https://www.rba.gov.au/media-releases/2020/mr-20-17.html (accessed 8 July 2020); APRA. https://www.apra.gov.au/news-and-publications/apra-releases-letter-and-data-on-temporary-loan-repayment-deferrals-due-to (accessed 10 July 2020); APRA. https://www.apra.gov.au/news-and-publications/apra-updates-regulatory-approach-to-loans-subject-to-repayment-deferral (accessed 10 July 2020); APRA. https://www.apra.gov.au/news-and-publications/apra-updates-guidance-on-capital-management-for-banks-and-insurers (accessed 30 July 2020); RBA. https://www.rba.gov.au/media-releases/2020/mr-20-18.html (accessed 06 August 2020); RBA. https://www.rba.gov.au/media-releases/2020/mr-20-20.html (accessed 01 September 2020).

No amount/estimate: (i) March 3 and 19, The policy rate was cut by 25 basis points twice to 0.25% and on May 5, June 2, July 7, August 4, and September 1 [update] the RBA announced that it will maintain the current rates. June 30, While the cash rate target has remained at 25 basis points, the actual cash rate traded in the market has declined to around 13–14 basis points; (ii) April, The Australian Prudential Regulation Authority (APRA) has provided temporary relief from its capital requirement, allowing banks to utilize some of their current large buffers to facilitate ongoing lending to the economy as long as minimum capital requirements are met. On July 9, APRA has issued a letter to ADIs, advising that this measure will be extended to cover a maximum period of 10 months from the start of a repayment deferral, or until 31 March 2021, whichever comes first. On July 29, APRA has updated its capital management guidance for ADIs, i.e. (a) retain at least 50% of earnings when making decisions on capital distributions and raise more capital through dividend reinvestment plans; (b) conduct regular stress testing to inform decision-making and demonstrate ongoing lending capacity; and (c) make use of capital buffers to absorb the impacts of stress, and continue to lend to support households and businesses; (iii) March 30, APRA announced that it is deferring its scheduled implementation of the Basel III reforms in Australia by one year to January 2023.

Australia 02C 02C - Loan guarantees AUD 40,000,000,000 24,871,999,983 Department of Treasury. https://treasury.gov.au/coronavirus/sme-guarantee-scheme (accessed 16 April 2020); Department of Treasury. https://treasury.gov.au/sites/default/files/2020-05/Overview-Economic_Response_to_the_Coronavirus_3.pdf (accessed 3 June 2020); Department of the Treasury. https://ministers.treasury.gov.au/ministers/josh-frydenberg-2018/media-releases/supporting-small-business-adapt-grow-and-create-jobs (accessed 22 July 2020).

April, Under a new Coronavirus SME Guarantee Scheme, the Government will guarantee 50% of new loans issued by eligible lenders to SMEs with total lending capacity of AUD40 billion. On July 20, The government announced that it plans to expand the SME Guarantee Scheme to help small businesses to adapt, grow and create jobs. The changes include widening the range of investments that can be funded, increasing maximum loan size, and increasing the maximum long term to five years, among others. The second phase of the Scheme will start on October 2020 and will be available until June 2021.

Australia 08 08 - International Assistance Received AUD 96,494,049,600 60,000,000,000
Australia 08A 08A - Swaps AUD 96,494,049,600 60,000,000,000 RBA. https://www.rba.gov.au/covid-19/ (accessed 3 June 2020); New York FED. https://apps.newyorkfed.org/markets/autorates/fxswap (accessed 9 July 2020).

March 20, RBA has established a swap line with the United States (US) Federal Reserve for the provision of US dollar liquidity in amounts up to USD60 billion.

Australia 08B 08B - International loans/grants AUD
Australia 08B1 08B1 - Asian Development Bank AUD
Australia 08B2 08B2 - Other AUD
Austria 02 02 - Credit creation EUR 9,000,000,000 9,955,752,212
Austria 02A 02A - Financial sector lending/funding EUR
Austria 02B 02B - Support policies for long-term lending EUR
Austria 02C 02C - Loan guarantees EUR 9,000,000,000 9,955,752,212 OECD. http://www.oecd.org/coronavirus/en/#country-tracker (accessed 15 April 2020).

EUR9 billion in credit guarantees.

Austria 08 08 - International Assistance Received EUR
Austria 08A 08A - Swaps EUR
Austria 08B 08B - International loans/grants EUR
Austria 08B1 08B1 - Asian Development Bank EUR
Austria 08B2 08B2 - Other EUR
Belgium 02 02 - Credit creation EUR 53,000,000,000 58,628,318,584
Belgium 02A 02A - Financial sector lending/funding EUR
Belgium 02B 02B - Support policies for long-term lending EUR 1,000,000,000 1,106,194,690 OECD. http://www.oecd.org/coronavirus/en/#country-tracker (accessed 15 April 2020).

The National Bank of Belgium announced the decision to reduce the counter-cyclical buffer to zero, releasing approximately EUR1 billion worth of capital available to Belgian banks to expand lending.

Belgium 02C 02C - Loan guarantees EUR 52,000,000,000 57,522,123,894 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 30 April 2020).

(i) EUR50 billion (over 11% of GDP) of guarantees for new bank loans to companies and self-employed; (ii) Regional governments announced further bank-loan guarantees (around EUR2 billion, or 0.4% of GDP); (iii) No amount/estimate: A Reinsurance scheme for short-term trade credit insurance and other socio-economic measures further support these efforts.

Belgium 08 08 - International Assistance Received EUR
Belgium 08A 08A - Swaps EUR
Belgium 08B 08B - International loans/grants EUR
Belgium 08B1 08B1 - Asian Development Bank EUR
Belgium 08B2 08B2 - Other EUR European Commission. https://ec.europa.eu/commission/presscorner/detail/en/ip_20_1496 (accessed 7 September 2020).

August 24, The European Commission proposed a EUR7.8 billion loan to be granted on favourable terms from the EU to Belgium. This is pending final approval by the Council. [update]

Brunei Darussalam 02 02 - Credit creation BND
Brunei Darussalam 02A 02A - Financial sector lending/funding BND
Brunei Darussalam 02B 02B - Support policies for long-term lending BND
Brunei Darussalam 02C 02C - Loan guarantees BND
Brunei Darussalam 08 08 - International Assistance Received BND
Brunei Darussalam 08A 08A - Swaps BND
Brunei Darussalam 08B 08B - International loans/grants BND
Brunei Darussalam 08B1 08B1 - Asian Development Bank BND
Brunei Darussalam 08B2 08B2 - Other BND
Cambodia 02 02 - Credit creation KHR
Cambodia 02A 02A - Financial sector lending/funding KHR
Cambodia 02B 02B - Support policies for long-term lending KHR IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 24 July 2020).

No amount/estimate: April, The NBC has implemented measures, such as (i) delaying additional increases in the capital conservation buffer, (ii) cutting the interest rate in its Liquidity Providing Collateralized Operations (LPCOs) that decreases banks’ funding costs in domestic currency, (iii) cutting the interest rate on negotiable certificates of deposit (the collateral for LPCOs) to encourage banks to disburse loans.

Cambodia 02C 02C - Loan guarantees KHR RGC. http://auschamcambodia.com/wp-content/uploads/2020/05/fourth-round-of-stimulus-measures.pdf (accessed 11 June 2020).

May 26, The Ministry of Economy and Finance will establish a “credit guarantee fund” of USD200 million. This fund may guarantee loans through banks and financial institutions using the market policy to assuage the pressure of cash flow and working capital of businesses in all sectors.

Cambodia 08 08 - International Assistance Received KHR 1,468,595,304,544 362,100,000
Cambodia 08A 08A - Swaps KHR