|Economy||Measure Code||Measure||Currency Code||Amount (Local)||Amount (USD)||Source||Post Date||Details|
|Afghanistan||02||02 - Credit creation||AFN|
|Afghanistan||02A||02A - Financial sector lending/funding||AFN|
|Afghanistan||02B||02B - Support policies for long-term lending||AFN||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#U (accessed 6 May 2020).||
No estimate/amount: (i) The authorities increased the frequency of Financial Stability Committee meetings, enhanced the monitoring of early signs of liquidity stress, and reviewed banks’ business continuity plans; (ii) DAB has suspended administrative penalties and fees, postponed the IFRS-9 implementation to June 2021, and froze loan classifications at the pre-pandemic cutoff of end-February.
|Afghanistan||02C||02C - Loan guarantees||AFN|
|Arab Republic of Egypt||02||02 - Credit creation||EGP||103,000,000,000||6,554,258,907|
|Arab Republic of Egypt||02A||02A - Financial sector lending/funding||EGP|
|Arab Republic of Egypt||02B||02B - Support policies for long-term lending||EGP||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 7 May 2020).||
No amount/estimate: (i) March 20, The central bank has reduced the policy rate by 300 bps to 9.25%; (ii) March 24, preferential interest rate on loans to tourism has been reduced from 10% to 5%, for SMEs; (iii) March 24, preferential interest rate on loans to industry and housing for low-income and middle-class families has been reduced from 10% to 8%; (iv) regulations issued last year requiring banks to obtain detailed information of borrowers have been relaxed; (v) suspension of credit score blacklists for irregular clients and waiver of court cases for defaulted customers have been announced.
|Arab Republic of Egypt||02C||02C - Loan guarantees||EGP||103,000,000,000||6,554,258,907||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 26 May 2020).||
(i) EGP3 billion of loan guarantees by the government has been announced for the tourism industry soft loans; (ii) EGP100 billion of loan guarantees from the Central Bank to cover lending at preferential rates to the manufacturing, agriculture and contracting industries.
|Argentina||02||02 - Credit creation||ARS||31,000,000,000||494,023,904|
|Argentina||02A||02A - Financial sector lending/funding||ARS|
|Argentina||02B||02B - Support policies for long-term lending||ARS||BCRA. https://www.bcra.gob.ar/Noticias/Coronavirus-BCRA-creditos-mipymes.asp (Accesed 27 April 2020). Yale. https://som.yale.edu/faculty-research-centers/centers-initiatives/program-on-financial-stability/covid-19-crisis (accessed 15 May 2020).||
No amount/estimate: (i) Provided new incentives for financial entitites to increase their loans to micro, small, and medium-sized enterprises (MiPyMEs) for the payment of salaries, as long as those entities are payment agents of the company that requests it; (ii) the Central Bank also temporarily added 60 days to each category of debtor in arrears; (iii) Developed the Conformed Invoice as a credit instrument to discount in financial entities or the capital market.
|Argentina||02C||02C - Loan guarantees||ARS||31,000,000,000||494,023,904||BCRA. https://www.argentina.gob.ar/coronavirus/medidas-gobierno (Accessed 27 April 2020).||
No amount/estimate: (i) See (i) in Actions that increase liabilities in Measure 1; (ii) Created a Special Affectation Fund, which will transfer ARS30 billion to the Argentine Guarantee Fund. The guarantees have the objective of facilitiating the repayment of loans for working capital. Eligible parties include companies listed in the small and medium-sized enterprise registry (MiPyMES Registry); (iii) No amount/estimate: FOGAR provides a guarantee that covers 100% of the credit in (iv) of Measure 1A. [update]
|Armenia||02||02 - Credit creation||AMD||25,000,000,000||51,123,841|
|Armenia||02A||02A - Financial sector lending/funding||AMD||25,000,000,000||51,123,841||JAM News. https://jam-news.net/armenian-govt-offers-stimulus-package-to-help-mitigate-corona-crisis/(accessed 16 April 2020).||
Allocate a total of AMD25 billion (over USD50 million) to co-finance loans for companies that borrow money from Armenian banks in the national currency to pay salaries, taxes, bills and purchase raw materials. This amount includes subsidy for the interests of these of loans.
|Armenia||02B||02B - Support policies for long-term lending||AMD||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 05 May 2020).||
No amount/estimate: The Central Bank of Armenia (CBA) reduced the policy rate by another 25 bps to 5% on April 28 [update]. The interbank market has been active, and the central bank has easily met liquidity needs so far.
|Armenia||02C||02C - Loan guarantees||AMD|
|Australia||02||02 - Credit creation||AUD||145,000,000,000||90,160,999,938|
|Australia||02A||02A - Financial sector lending/funding||AUD||105,000,000,000||65,288,999,955||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).||
(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]).
|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).||
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 and June 2, the RBA announced that it will maintain the current rates; (ii) April, The Australian Prudential Regulation Authority (APRA) has (a) 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, and (b) March 30, 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).||
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.
|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.
|Azerbaijan||02||02 - Credit creation||AZN||500,000,000||294,117,647|
|Azerbaijan||02A||02A - Financial sector lending/funding||AZN|
|Azerbaijan||02B||02B - Support policies for long-term lending||AZN||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 11 June 2020).||
No amount/estimate: March 19: (i) The CBA left the refinancing rate unchanged at 7.25%, but raised the floor of the interest rate corridor (within a de facto floor system) by 125 basis points (bps) to 6.75%. May 1, the CBA lowered the ceiling of the interest rate corridor by 100 bps to 8% ; (ii) The authorities have announced their intention to extend the blanket deposit guarantee until December 4, 2020. The guarantee covers all AZN (foreign currency) deposits within a 10 (2.5)% interest rate cap; (iii) A relation of capital requirements (systemwide and the countercyclical capital buffer) and risk weights on mortgage loans; (iv) April 23, Suspension of inspections of credit institutions.
|Azerbaijan||02C||02C - Loan guarantees||AZN||500,000,000||294,117,647||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accessed 11 June 2020); Caspian News. https://caspiannews.com/news-detail/azerbaijan-takes-measures-to-mitigate-covid-19-impact-on-economy-social-life-2020-4-6-1/ (accessed 15 April 2020); KPMG. https://home.kpmg/xx/en/home/insights/2020/04/azerbaijan-government-and-institution-measures-in-response-to-covid.html (accessed on 6 May 2020).||
April 6, Entrepreneurs get state guarantee for 60% of their new bank loans and the government subsidizes half of the interest on guaranteed loans from the state budget; overall state support at AZN500 million (USD294 million); (ii) No amount/estimate: May, The CBA also announced that it will extend its guarantees on insurance premiums.
|Bangladesh||02||02 - Credit creation||BDT||500,000,000,000||5,885,815,185|
|Bangladesh||02A||02A - Financial sector lending/funding||BDT||500,000,000,000||5,885,815,185||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accesed 14 April 2020).||
The Ministry of Finance will subsidize interest payments on up to BDT500 billion in working capital loans by scheduled banks to businesses.