Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
European Central Bank 01 - Liquidity Support
European Central Bank 01A - Short-term lending 0 OECD. (accessed 18 April 2020).

No amount/estimate: 12 March, Conducting additional longer-term refinancing operations (LTROs) temporarily (with an interest rate equal to the average rate on the deposit facility, -0.50% currently).

European Central Bank 01B - Support policies for short-term lending OECD. (accessed 18 April 2020).

No amount/estimate: (i) 18 March, Easing collateral standards to give easier access to ECB liquidity, by adjusting the main risk parameters of the collateral framework; (ii) allow major banks (directly supervised by the ECB) to operate temporarily below the level of capital defined by the Pillar 2 Guidance (P2G), the capital conservation buffer (CCB) and the liquidity coverage ratio (LCR).

European Central Bank 01C - Forex operations Yale. (accessed 20 April 2020).

Additions of temporary swap arrangements with Denmark (reactivated, amount doubled to EUR24 billion), Croatia (EUR2 billion) and Bulgaria (EUR2 billion).

European Central Bank 02 - Credit creation 3,870,000,000,000 4,280,973,451,327
European Central Bank 02A - Financial sector lending/funding 870,000,000,000 962,389,380,531 OECD. (accessed 15 April 2020).

(i) March 12, Adding a temporary envelope of additional net asset purchases of EUR120 billion until the end of the year; March 18, (ii) Furthermore, launching a new temporary asset purchase programme of private and public sector securities (Pandemic Emergency Purchase Programme, PEPP) with an overall envelope of EUR 750 billion until the end of 2020. Some self-imposed purchase limits will not apply to the PEPP. A waiver of the eligibility requirements for securities issued by the Greek government will be granted for purchases under PEPP; (iii) expanding the range of eligible assets under the corporate sector purchase programme (CSPP) to non-financial commercial paper.

European Central Bank 02B - Support policies for long-term lending 3,000,000,000,000 3,318,584,070,796 EC. (accessed 15 April 2020); EC. (accessed 18 April 2020); OECD. (accessed 18 April 2020).

March 12, (i) Lowering the interest rate applied in targeted longer-term refinancing operations (TLTRO III) during the period from June 2020 to June 2021 (25 basis points below the average rate applied in the Eurosystem's main refinancing operations). The targeted longer-term refinancing operations (TLTROs) are Eurosystem operations that provide financing to credit institutions. By offering banks long-term funding at attractive conditions they preserve favourable borrowing conditions for banks and stimulate bank lending to the real economy. It is estimated that the facility could provide up to around EUR3 trillion in at a negative rate, which can be as low as -0.75%, the lowest rate ECB ever offered; No amount/estimate: (ii) relaxation of countercyclical capital buffer (CCyB); (iii) March 20, Flexibility in treatment of non-performing loans (NPLs) to allow banks to fully benefit from public guarantees and moratoriums and of banks' implementation of NPL reduction strategies; (iv) March 27, requirement for banks not to pay dividends until at least 1 October 2020; (v) See (ii) on CCB in Measure 1.

European Central Bank 02C - Loan guarantees
European Central Bank 03 - Direct long-term lending
European Central Bank 03A - Long-term lending
European Central Bank 03B - Forbearance
European Central Bank 04 - Equity support
European Central Bank 05 - Government support to income/revenue
European Central Bank 05A - Health
European Central Bank 05B - Non-health
European Central Bank 06 - Budget reallocation
European Central Bank 07 - Central bank financing government
European Central Bank 07A - Direct lending & reserve drawdown
European Central Bank 07B - Secondary purchase: government securities OECD. (accessed 18 April 2020).

Purchases of government bonds are included in Measure 2 (row 9). The amount could not be disaggregated from the EUR 750 billion PEPP program.

European Central Bank 08 - International Assistance Received 127,128,616,000 140,629,000,000
European Central Bank 08A - Swaps 127,128,616,000 140,629,000,000 New York FED. (accessed 20 April 2020)

Peak amount outstanding with the US Fed: USD140.629 billion as of April 20.

European Central Bank 08B - International loans/grants
European Central Bank 08B1 - Asian Development Bank 0
European Central Bank 08B2 - Other
European Central Bank 09 - International Assistance Provided 28,000,000,000 30,973,451,327
European Central Bank 09A - Swaps 28,000,000,000 30,973,451,327 ECB. (20 April 2020).

(i) March 20, ECB and Danmarks Nationalbank reactivate swap line EUR24 billion (increased EUR12 billion) to remain in place for as long as needed; (ii) April 15, ECB and Bulgarian National Bank set up new swap line of EUR2 billioN to remain in place until end-2020, or as long as needed; (ii) April 22, ECB and Hrvatska narodna banka set up new swap line of EUR2 billion until end-2020, or as long as needed.

European Central Bank 09B - International loans/grants
European Central Bank 10 - No breakdown
European Central Bank 11 - Other Economic Measures
European Central Bank 12 - Non-Economic Measures