Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Norway 02 02 - Credit creation NOK 50,500,000,000 4,941,214,667
Norway 02A 02A - Financial sector lending/funding NOK
Norway 02B 02B - Support policies for long-term lending NOK IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 19 April 2020; 8 May 2020); OECD. http://www.oecd.org/coronavirus/en/ (accessed 19 April 2020). Yale. https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-financial-stability/covid-19-crisis (accessed 25 June 2020).

No amount/estimate: (i) Reduction of the policy rate by 1.25% to 0.25%; (ii) March 13, Easing of countercyclical capital buffer by 1.5%; (iii) March 18, Lighter security pledges for access to loans from Norges Bank; (iv) March 23, Temporary easing of mortgage regulations, in particular increase in the percent of mortgages that can deviate from the regulations; (iv) May, reduction of the policy rate by an additional 0.25% to 0%; (v) Reduced lending rates for both risk and low-risk loans by 25 basis points each; (vi) June 11, increased flexibility quotas for loan mortgage regulations to the third quarter of 2020. This flexible quotas refer to requirements set by the Consumer Loan Regulations, including loan-to-value ratio, installment payment, and the customer's ability to service debt in relation to income; (vii) June 19, adopted new rules to simplify reconstruction negotiations for small businesses.

Norway 02C 02C - Loan guarantees NOK 50,500,000,000 4,941,214,667 Ministry of Finance. https://www.regjeringen.no/en/aktuelt/economic-measures-in-norway-in-response-to-covid-192/id2695355/ (accessed 12 April 2020). Innvation Norway. https://www.innovasjonnorge.no/no/om/nyheter/2020/risikoavlastning-til-banker-skal-bidra-til-naringsvekst/ (accessed 19 June 2020).

(i) March 27, In the state guarantee scheme for bank loans to small and medium-sized enterprises the state guarantees 90% of the loans within a total guarantee framework of NOK50 billion; (ii) May 20, Extended the loan guarantee scheme to apply to loans granted before June 1, 2020, and permitted banks to provide guaranteed loans even after June 1, 2020; (iii) Existing guarantee scheme for 90% corporate loans will be extended until further notice for the year; (iv) June 2, Agreement between Innovation Norway and the European Investment Fund to expand Norway's Growth Guarantee Scheme (GGS). For 2 years, the GGS will cover up to 75% of the loss of 14 Norwegian banks extending loans to innovative Norwegian companies. The GGS was already expanded by NOK 500 million, bringing the total program funding to NOK 1.9 billion.

Norway 02 02 - Credit creation NOK 50,000,000,000 4,892,291,750
Norway 02A 02A - Financial sector lending/funding NOK
Norway 02B 02B - Support policies for long-term lending NOK IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 19 April 2020); OECD. http://www.oecd.org/coronavirus/en/ (accessed 19 April 2020).

No amount/estimate: (i) Reduction of the policy rate by 1.25 percentage points to 0.25%; (ii) March 13, Easing of countercyclical capital buffer by 1.5 percentage points; (iii) March 18, Lighter security pledges for access to loans from Norges Bank; (iv) March 23, Temporary easing of mortgage regulations, in particular increase in the percent of mortgages that can deviate from the regulations.

Norway 02C 02C - Loan guarantees NOK 50,000,000,000 4,892,291,750 Ministry of Finance. https://www.regjeringen.no/en/aktuelt/economic-measures-in-norway-in-response-to-covid-192/id2695355/ (accessed 12 April 2020).

27 March, In the state guarantee scheme for bank loans to small and medium-sized enterprises the state guarantees 90% of the loans within a total guarantee framework of NOK50 billion.