Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
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.

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.

Japan 02B 02B - Support policies for long-term lending JPY IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 6 May 2020); BOJ. https://www.boj.or.jp/en/announcements/release_2020/k200427a.pdf (accessed 1 May 2020).

No amount/estimate: (i) The government expanded the volume of concessional loan facilities (interest free without collateral) primarily for micro, small, and medium enterprises affected by COVID-19 through the Japan Finance Corporation and other institutions; (ii) The government will also enhance access to loans with the same conditions from local financial institutions, such as local banks; (iii) To support borrowers during this period of stress, the Financial Services Agency has reassured that banks can assign zero risk weights to loans guaranteed with public guarantee schemes, use their regulatory capital as needed to support funding of affected businesses, and draw down their capital conservation and systemically important bank buffers to support credit supply; (iv) April 27, In relation to Measure 1B, the BOJ applied a positive interest rate of 0.1 percent to the outstanding balances of current accounts held by financial institutions at the Bank that correspond to the amounts outstanding of loans provided through special funds-supplying operation.

Japan 02C 02C - Loan guarantees JPY Nikkei Asian Review. https://asia.nikkei.com/Economy/Nissan-s-record-loan-guarantee-spotlights-lack-of-transparency?utm_campaign=RN%20Free%20newsletter&utm_medium=JP%20update%20newsletter%20free&utm_source=NAR%20Newsletter&utm_content=article%20link&del_type=4&pub_date=20200908090000&seq_num=2&si=02106253 (accessed 8 September 2020).

No amount/estimate: As of July 2020, loan guarantees from the Japan Finance Corp. for JPY130 billion in emergency response loans extended by the Development Bank of Japan to Nissan Motor between March and July.

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.

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.

Japan 02B 02B - Support policies for long-term lending JPY IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 6 May 2020); BOJ. https://www.boj.or.jp/en/announcements/release_2020/k200427a.pdf (accessed 1 May 2020).

No amount/estimate: (i) The government expanded the volume of concessional loan facilities (interest free without collateral) primarily for micro, small, and medium enterprises affected by COVID-19 through the Japan Finance Corporation and other institutions; (ii) The government will also enhance access to loans with the same conditions from local financial institutions, such as local banks; (iii) To support borrowers during this period of stress, the Financial Services Agency has reassured that banks can assign zero risk weights to loans guaranteed with public guarantee schemes, use their regulatory capital as needed to support funding of affected businesses, and draw down their capital conservation and systemically important bank buffers to support credit supply; (iv) April 27, In relation to Measure 1B, the BOJ applied a positive interest rate of 0.1 percent to the outstanding balances of current accounts held by financial institutions at the Bank that correspond to the amounts outstanding of loans provided through special funds-supplying operation.

Japan 02C 02C - Loan guarantees JPY
Denmark 02 02 - Credit creation DKK 264,650,000,000 39,178,386,380
Denmark 02A 02A - Financial sector lending/funding DKK
Denmark 02B 02B - Support policies for long-term lending DKK 200,000,000,000 29,607,698,001 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 15 April 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 64,650,000,000 9,570,688,379 OECD. http://www.oecd.org/coronavirus/en/#country-tracker (accessed 30 April 2020).

(i) 17 March, DKK1.20 billion credit guarantee for Scandinavian Airlines. Total support credit guarantee to the airlines amounting to DKK3.5 billion equally split between the Danish and Swedish governments; 19 March (ii) DKK35.7 billion loan guarantees scheme for large firms; (iii) DKK25 billion loan guarantee scheme for SMEs; (iv) DKK1.25 billion liquidity guarantee in new loans to SMEs with export activities; (v) DKK 1.5 billion government guarantee for the Travel Guarantee Fund, to be repaid by the travel industry in the coming years.

Japan 02 02 - Credit creation JPY 2,000,000,000,000 18,640,569,869
Japan 02A 02A - Financial sector lending/funding JPY 2,000,000,000,000 18,640,569,869 IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 13 April 2020); OECD. https://www.oecd.org/coronavirus/en/ (accessed 24 April 2020).

March 16, An increase in the annual pace of the Bank of Japan’s (BOJ) targeted purchases of commercial paper and corporate bonds with an upper limit of JPY2 trillion.

Japan 02B 02B - Support policies for long-term lending JPY IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 13 April 2020).

No amount/estimate: (i) The government expanded the volume of concessional loan facilities (interest free without collateral) primarily for micro, small, and medium enterprises affected by COVID-19 through the Japan Finance Corporation and other institutions; (ii) The government will also enhance access to loans with the same conditions from local financial institutions, such as local banks; (iii) To support borrowers during this period of stress, the Financial Services Agency has reassured that banks can assign zero risk weights to loans guaranteed with public guarantee schemes, use their regulatory capital as needed to support funding of affected businesses, and draw down their capital conservation and systemically important bank buffers to support credit supply.

Japan 02C 02C - Loan guarantees JPY