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

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).

See Non-lending actions of Measure 1.

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); http://www.mef.gov.it/covid-19/.

(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.