Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Luxembourg 02 02 - Credit creation EUR 6,100,000,000 6,747,787,611
Luxembourg 02A 02A - Financial sector lending/funding EUR
Luxembourg 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 19 April 2020).

No amount/estimate: (i) The Luxembourg authorities have intensified off-site oversight of key risks in the banking sector and stepped up surveillance of investment funds, including new requirements for weekly updates on financial data and fund managers’ governance arrangements. They have introduced a draft law which, among others, grants the supervisory bodies powers to extend, for the duration of the COVID-19 crisis, reporting deadlines for entities under their remit; (ii) Banks were advised to refrain from distributing accumulated profits should this constrains their capacity to meet their clients’ credit and liquidity needs.

Luxembourg 02C 02C - Loan guarantees EUR 6,100,000,000 6,747,787,611 OECD. https://www.oecd.org/coronavirus/en/ (accessed 19 April 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 9 May 2020).

(i) March 25: EUR2.5 billion (3.9% of 2019 GDP) loan guarantee facility of the State of 85% of credit lines granted by selected banks between 18 Mar and 31 Dec 2020; (ii) No amount/estimate: Export guarantees provided by the Office du Ducroire; (iii) No amount/estimate: Companies with cash flow difficulties can request guarantees from the “mutualités de cautionnement”; (ii) April 30, EUR3.6 billion from extending credit guarantees for new bank loans and special anti-crisis financing for SMEs and large companies.

Luxembourg 02 02 - Credit creation EUR 2,500,000,000 2,765,486,726
Luxembourg 02A 02A - Financial sector lending/funding EUR
Luxembourg 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 30 April 2020).

No amount/estimate: (i) The Luxembourg authorities have intensified off-site oversight of key risks in the banking sector and stepped up surveillance of investment funds, including new requirements for weekly updates on financial data and fund managers’ governance arrangements. They have introduced a draft law which, among others, grants the supervisory bodies powers to extend, for the duration of the COVID-19 crisis, reporting deadlines for entities under their remit; (ii) Banks were advised to refrain from distributing accumulated profits should this constrains their capacity to meet their clients’ credit and liquidity needs.

Luxembourg 02C 02C - Loan guarantees EUR 2,500,000,000 2,765,486,726 OECD. https://www.oecd.org/coronavirus/en/ (accessed 30 April 2020).

(i) March 25: EUR2.5bn (3.9% of 2019 GDP) loan guarantee facility of the State of 85% of credit lines granted by selected banks between 18 Mar and 31 Dec 2020; (ii) No amount/estimate: Export guarantees provided by the Office du Ducroire; (iii) No amount/estimate: Companies with cash flow difficulties can request guarantees from the “mutualités de cautionnement”.