|Economy||Measure Code||Measure||Currency Code||Amount (Local)||Amount (USD)||Source||Post Date||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.
|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.
|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.
|Canada||02||02 - Credit creation||CAD||518,739,000,000||371,789,285,074|
|Canada||02A||02A - Financial sector lending/funding||CAD||218,739,000,000||156,774,054,829||Bank of Canada. https://www.bankofcanada.ca/markets/market-operations-liquidity-provision/market-operations-programs-and-facilities/canada-mortgage-bond-purchase-program/#marketFunctioning; Bank of Canada. https://www.bankofcanada.ca/markets/market-operations-liquidity-provision/market-operations-programs-and-facilities/provincial-bond-purchase-program/ (all accessed 10 June 2020).||
(i) Increase in Mortgage Bonds = CAD8.739 billion (peak September 2) [update] - Canada Mortgage Bond Purchase Program (CMBP) will target CAD 500 million in purchases per week; (ii) CAD 50 billion limit; CAD8.443 billion (peak September 2) [update]. The Provincial Bond Purchase Program (“PBPP” or “the program”) will be structured as a direct purchase program into a separate account held by the Bank of Canada (“BoC” or “the Bank”), managed by BMO Global Asset Management Inc. (“BMO GAM” or “the Asset Manager”) and supported by Canadian Imperial Bank of Commerce Mellon (“CIBC Mellon” or “the Custodian”) as a custodian. The program will support the liquidity and efficiency of provincial government funding markets. The program’s parameters may be expanded if conditions warrant. (iii) CAD10 billion limit. Beginning May 26, the Corporate Bond Purchase Program (CBPP) will purchase eligible corporate bonds in the secondary market. The program size will be capped at CAD10 billion and will be restricted to senior secured and unsecured bonds originated by Canadian incorporated companies with a remaining maturity of up to 5 years and a minimum credit rating of BBB or equivalent; Since July 22, bonds purchased through the CBPP were CAD141 million [update]; (iv) CAD150 billion; the government's Insured Mortgage Purchase Program (IMPP) purchases insured mortgage pools through the Canada Mortgage Housing Corporation (CMHC); (v) April 28, The Bank of Canada began offering 24-month repurchase operations (amount included in repurchase operations in 1A).
|Canada||02B||02B - Support policies for long-term lending||CAD||300,000,000,000||215,015,230,245||Department of Finance Canada. https://www.canada.ca/en/department-finance/news/2020/03/canadas-covid-19-economic-response-plan-support-for-canadians-and-businesses.html#Supporting_Financial_Market. BoC https://www.bankofcanada.ca/wp-content/uploads/2020/06/fad-press-release-2020-06-03.pdf (all accessed 10 June 2020). OSFI https://www.osfi-bsif.gc.ca/Eng/fi-if/in-ai/Pages/FRI20200828_let.aspx (Accessed 2 September)||
(i) The Office of the Superintendent of Financial Institutions (OSFI) announced it is lowering the Domestic Stability Buffer by 1.25% of risk-weighted assets to 1%, effective immediately. This action will allow Canada’s large banks to inject CAD300 billion of additional lending in to the economy; (ii) June 3, the BoC maintained its targets at 0.5% for the Bank Rate (penalty rate) and 0.25% for both the deposit rate (interest on reserves) and the overnight rate target; (iii) No amount/estimate: August 31, the Office of the Superintendent of Financial Institutions (OSFI) extended regulatory flexibility for insurers for 6 more months, including relaxing requirements for insurers regarding capital requirements for premiums or insured loans that are delinquent or for which a payment deferral has been given. [update]
|Canada||02C||02C - Loan guarantees||CAD||Department of Finance Canada. https://www.canada.ca/en/department-finance/economic-response-plan.html (accessed 10 June 2020).||
No amount/estimate: Loan Guarantee for Small and Medium-Sized Enterprises through the Business Credit Availability Program, Export Development Canada (EDC) is working with financial institutions to guarantee 80% of new operating credit and cash flow term loans of up to CAD6.25 million to small and medium-sized enterprises (SMEs).
|Denmark||02||02 - Credit creation||DKK||295,400,000,000||43,733,630,525|
|Denmark||02A||02A - Financial sector lending/funding||DKK|
|Denmark||02B||02B - Support policies for long-term lending||DKK||200,000,000,000||29,609,770,159||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 14 May 2020).||
No amount/estimate: (i) The DN increased the policy rate by 15bps to -0.6 %; (ii) March 12, DKK200 billion in additional liquidity after Danish authorities reduced the countercyclical capital buffer from 1% to 0% and cancel the planned increases meant to take effect later; (ii) March 30, A joint statement by the government and the financial sector commits banks and mortgage banks to support households with additional loans and payment holidays. Banks and insurance companies are urged by the DFSA not to pay out dividends or buy back shares; (iii) the DN also increased the interest rate on the previously announced 1-week loans to -0.35 %.
|Denmark||02C||02C - Loan guarantees||DKK||95,400,000,000||14,123,860,366||OECD. http://www.oecd.org/coronavirus/en/#country-tracker (accessed 24 June 2020).||
(i) March 17, DKK1.20 billion credit guarantee for Scandinavian Airlines. Total support credit guarantee to the airlines amounting to SEK3.5 billion equally split between the Danish and Swedish governments; (ii) March 19, DKK35.7 billion loan guarantees scheme for large firms; (iii) DKK25 billion loan guarantee scheme for SMEs; (iv) DKK1.25 liquidity guarantee in new loans to SMEs with export activities; (v) DKK2.25 billion government guarantee for the Travel Guarantee Fund, to be repaid by the travel industry in the coming years; (vi) April 18, DKK30 billion government guarantee (to insurance companies) for companies' trade and export activities; (vii) No amount/estimate: May 20, For startups, loan guarantees by the Ministry of Finance on 70 % of new corporate loans that are issued to cover losses directly relating to COVID-19.
|Finland||02||02 - Credit creation||EUR||86,080,000,000||95,221,238,938|
|Finland||02A||02A - Financial sector lending/funding||EUR|
|Finland||02B||02B - Support policies for long-term lending||EUR||82,000,000,000||90,707,964,602||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 15 April 2020); KPMG. https://home.kpmg/xx/en/home/insights/2020/04/finland-government-and-institution-measures-in-response-to-covid.html (accessed 16 April 2020).||
(i) EUR52 billion in lending capacity due to the 1 ppt reduction in the structural buffer requirements of all credit institutions by removing the systemic risk buffer and adjusting institution-specific requirements; (ii) EUR30 billion in lending capacity due to the decisions of the macroprudential supervisors of other countries.
|Finland||02C||02C - Loan guarantees||EUR||4,080,000,000||4,513,274,336||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 15 April 2020); Finnvera. https://www.finnvera.fi/finnvera/uutishuone/uutiset/finnve (accessed 18 May 2020); MInistry of Finance, Finland. https://vm.fi/artikkeli/-/asset_publisher/valtioneuvosto-myonsi-valtiontakausjarjestelyn-finnairin-lainalle (accessed 24 May 2020); Ministry of Finance. https://vm.fi/artikkeli/-/asset_publisher/valtio-takaa-tyollisyysrahaston-lainoja (acccessed 19 June 2020); DBEI. https://dbei.gov.ie/en/News-And-Events/Department-News/2020/July/14072020.html (accessed 16 July 2020).||
(i) Mar 20, EUR600 million of state guarantee for Finnair. On May 20, the fund was finally established for a maximum loan guarantee fund of EUR540 million (the EU Commission authorized only a 90% guarantee on loan, nevertheless, added in the amounts column is the EUR600 million, the total loans available under this fund) ; (ii) EUR600 million of state guarantee for shipping companies; (iii) No amount/estimate: May 7, Finnvera (official export credit agency) increased its guarantee share for SME loans from 80% to 90%; (iv) June 11, EUR880 million, state guarantee for loans and interest from the Employment Fund; (v) July 14, The new COVID-19 Credit Guarantee Scheme (CGS) amounting to EUR2 billion will make low cost loans available to businesses impacted by the pandemic. It will ensure that SMEs, primary producers and small Mid-Caps can access liquidity to keep their businesses operating, as the economy continues to reopen and more and more people get back to work. It will be available for a wide range of products including overdrafts, term loans and working capital .
|France||02||02 - Credit creation||EUR||330,200,000,000||365,265,486,726|
|France||02A||02A - Financial sector lending/funding||EUR|
|France||02B||02B - Support policies for long-term lending||EUR||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 15 April 2020); Banque de France. https://acpr.banque-france.fr/communique-de-presse/lacpr-appelle-les-institutions-financieres-sous-sa-supervision-suivre-la-recommandation-esrb202007 (accessed 6 August 2020).||
(i) No amount/estimate: April, Reducing the counter-cyclical bank capital buffer to 0% (an increase from 0.25 percent to 0.5 percent, effective April); (ii) credit mediation to support renegotiation of SMEs’ bank loans; (iii) June 28, L'ACPR, Banque de France, required financial institutions under its supervision to follow the recent EU directive and refrain until January 1, 2021 from paying dividends, buying back shares or granting new variable remuneration to the main risk takers within them .
|France||02C||02C - Loan guarantees||EUR||330,200,000,000||365,265,486,726||OECD. http://www.oecd.org/coronavirus/en/ (accessed 15 April 2020) EC. https://ec.europa.eu/commission/presscorner/detail/en/ip_20_779 (accessed 2 May 20200; Le Figaro https://www.lefigaro.fr/flash-eco/le-gouvernement-annonce-390-millions-d-euros-pour-le-transport-routier-20200417 (accessed 2 May 2020); European Commission https://ec.europa.eu/commission/presscorner/detail/en/IP_20_796 (accessed 14 May 2020); Economie. https://www.economie.gouv.fr/3-projet-loi-finances-rectificative-plfr-iii-2020# (accessed 4 July 2020).||
(i) EUR300 billion in the state guarantee mechanism for new liquidity loans granted by credit institutions between 16 March and 31 December 2020 to companies registered in France; (ii) EUR15 billion (from EUR12 billion) in specific guarantees for export insurance and credit insurance ; (iii) April 29, EUR5 billion loan guarantee for Renault; (iv) May 6, EUR4 billion state guarantee on loans and a subordinated shareholder loan to Air France-KLM by the French state; (v) No amount/estimate: June 6, the State guarantee system for credit insurance is strongly reinforced to allow companies to keep their cover. This measure is very important for construction companies whose cash flow is very dependent on inter-company credit. The measure will be implemented immediately by decree for SMEs and medium-sized enterprises; (vi) EUR6.2 billion loan guarantees for tourism industry .
|Germany||02||02 - Credit creation||EUR||483,840,000,000||535,221,238,938|
|Germany||02A||02A - Financial sector lending/funding||EUR|
|Germany||02B||02B - Support policies for long-term lending||EUR||International Monetary Fund (IMF). https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 11 April 2020) ; Bundesministerium der Finanzen. https://www.bundesfinanzministerium.de/Content/DE/Pressemitteilungen/Finanzpolitik/2020/07/2020-07-29-PM-Risikoreduzierungsgesetz.html (accessed 6 August 2020).||
(i) No amount/estimate: April 1, Release of the countercyclical capital buffer for banks from 0.25% to zero; (ii) No amount/estimate: July 29, The Federal Cabinet passed a draft law to strengthen the stability of the banking sector and protect taxpayers and investors. Large banks will have to maintain loss buffers of at least 8% of their total assets, which cushion losses in the event of a crisis (https://bit.ly/3gxzoTh).
|Germany||02C||02C - Loan guarantees||EUR||483,840,000,000||535,221,238,938||Federal Ministry of Finance. https://bit.ly/3el63tR (accessed 17 April 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#G (accessed 17 April 2020); Federal Ministry of Economy and Energy. https://www.bmwi.de/Redaktion/DE/Pressemitteilungen/2020/20200707-altmaier-mit-5-punkte-massnahmepaket-unterstuetzen-wir-deutsche-exportwirtschaft.html (accessed 12 July 2020); European Commission. https://bit.ly/2PMOtoh (accessed 8 August 2020).||
(i) March 23, EUR400 billion under the WSF to provide guarantees to companies' debt (up to 60 months) and EUR63 billion in guarantees by Länder; (ii) July 7, The federal government supports the financing of German exports with export credit guarantees (annual guarantee volume is EUR20 billion). This is part of the package of measures announced to support the export industry; (iii) July 31, European Commission approves EUR840 million German guarantee scheme to cover vouchers issued by travel operators for cancelled travel packages booked prior to 8 March 2020. Any traveller that accepts a voucher issued by a travel operator will be able to either use it or receive a full refund (https://bit.ly/2PMOtoh).
|Ireland||02||02 - Credit creation||EUR||2,000,000,000||2,212,389,381|
|Ireland||02A||02A - Financial sector lending/funding||EUR|
|Ireland||02B||02B - Support policies for long-term lending||EUR||OECD. http://www.oecd.org/coronavirus/en/ (accessed 15 April 2020).||
No amount/estimate: the Central Bank has cut the Counter Cyclical Capital Buffer from 1% to 0%. This decision will free up bank capital that can be used to provide credit, and to restructure and extend the loans of bank customers, both individuals and SMEs.
|Ireland||02C||02C - Loan guarantees||EUR||2,000,000,000||2,212,389,381||DBEI. https://dbei.gov.ie/en/News-And-Events/Department-News/2020/May/02052020.html (accessed 9 May 2020); DBEI. https://dbei.gov.ie/en/News-And-Events/Department-News/2020/July/21072020.html (accessed 23 July 2020).||
EUR2 billion COVID-19 Credit Guarantee Scheme (CGS) to support lending to SMEs for terms ranging from 3 months to 6 years, which will be below market interest rates. July 21, the Government introduced the Credit Guarantee (Amendment) Bill to the Dáil at second stage, an important step in bringing into effect the €2 billion COVID-19 CGS. This will ensure the availability of loans of up to six years at a discounted rate with the State acting as guarantor for 80% of each individual loan .
|Italy||02||02 - Credit creation||EUR||431,480,000,000||477,300,884,956|
|Italy||02A||02A - Financial sector lending/funding||EUR|
|Italy||02B||02B - Support policies for long-term lending||EUR||OECD. http://www.oecd.org/coronavirus/en/ (accessed 15 April 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#F (accessed 6 June 2020); Banca d' Italia. https://www.bancaditalia.it/media/notizia/aggiornamento-della-raccomandazione-della-banca-d-italia-sulla-distribuzione-di-dividendi-e-sulle-politiche-di-remunerazione-variabile/ (accessed 6 August 2020); Banca d' Italia. https://www.bancaditalia.it/media/comunicati/documenti/2020-02/CS_Raccomandazione_politiche_dividendi.pdf (accessed 6 Agust 2020).||
(i) May 20, 2020, to promote the use of credit claims as collateral and to incentivize lending to small and medium-sized enterprises, the Bank of Italy has extended the additional credit claim frameworks to include loans backed by COVID-19-related public sector guarantees; (ii) July 28, Banca d' Italia announced updates to its recommendations on the distribution of dividends and variable remuneration policies. Recommended less significant banks to not pay dividends for 2019 and 2020, to refrain from repurchasing shares with the aim of remunerating shareholders, and to reduce variable remuneration to preserve capital ; (iii) July 30, Italian Institute for the Supervision of Insurance recommended companies to not distribute dividends, avoid the repurchase of ordinary shares, and refrain from paying variable pay until January 1, 2021 .
|Italy||02C||02C - Loan guarantees||EUR||431,480,000,000||477,300,884,956||OECD. http://www.oecd.org/coronavirus/en/ (accessed 15 April 2020); Reuters. https://www.reuters.com/article/health-coronavirus-italy-decree/update-1-italy-announces-guarantees-for-bank-loans-worth-over-400-bln-euros-idUSL8N2BU5T8 (accessed 16 April 2020); Ministry of Economy and Finance. http://www.mef.gov.it/covid-19/ (accessed 31 May 2020); Banca D'Italia.https://www.bancaditalia.it/media/notizia/ulteriori-misure-di-ampliamento-dello-schema-acc-della-banca-d-italia-in-risposta-all-emergenza-covid-19/ (accessed 16 June 2020).||
(i) EUR10 billion state guarantee for new loans for medium-large firms (based in 500 million 1:20); (ii) EUR21.48 billion for the SMEs Guarantee Fund (based in 1.5 billion 1:14 aprox); (iii) April 9, EUR400 billion in guarantees including EUR200 billion from Treasury to shield banks from losses on 90% of loans to companies of all sizes, and EUR200 billion guarantees from Cassa Depositi e Prestiti CDP (Italy's state lender) and its export agency Sace; (iv) no amount/estimate: further guarantees for firms most affected by the virus. Facilitate guarantees for self-employed workers, freelancers and individual entrepreneurs; (v) No amount/estimate: 9 June, Adopted further measures to extend the Additional Credit Claims (ACC) scheme. The Bank of Italy introduced the possibility of granting guarantees to both consumer and mortgage loans offered to households. These measures will enter into force on June 17, 2020 .
|Japan||02||02 - Credit creation||JPY||10,500,000,000,000||97,862,991,811|
|Japan||02A||02A - Financial sector lending/funding||JPY||10,500,000,000,000||97,862,991,811||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 6 May 2020); OECD. https://www.oecd.org/coronavirus/en/ (accessed 19 May 2020). BOJ. https://www.boj.or.jp/en/announcements/release_2020/k200427a.pdf (accessed 26 May 2020).||
March 16, An increase in the annual pace of the Bank of Japan’s (BOJ) targeted purchases of corporate bonds with an upper limit of JPY3 trillion, respectively. On April 27, the maximum amount of additional purchases of corporate bonds was increased to JPY7.5 trillion.