Economy Measure Code Measure Currency Code Amount (Local) Amount (USD) Source Details
Canada 01 01 - Liquidity Support CAD 261,201,000,000 187,207,310,518
Canada 01A 01A - Short-term lending CAD 261,201,000,000 187,207,310,518 Canada Mortgage ad Housing Corporation.; Bank of Canada. (all accessed 10 June 2020).

All amounts are peak value since March 4; BoC has not announced limits for any facility. (i) CAD38.766 billion (April 8 peak) - Bankers' Acceptance Purchase Facility (BAPF); (ii) CAD7.629 billion (July 1 peak) [update]: The Provincial Money Market Purchase (PMMP) program is an asset purchase facility that will acquire provincially-issued money market securities through the primary issuance market. This program will support a liquid and well-functioning market for short-term provincial borrowing. Under the PMMP, the Bank will purchase up to 40% of each offering of directly-issued provincial money market securities with terms to maturity of 12 months or less. This includes treasury bills and short-term promissory notes of all Canadian provinces. The 40% limit may be adjusted if market conditions warrant. The Bank will make its first purchases under the PMMP on Wednesday, March 25. This facility, combined with the Bank’s other recent actions, will provide a material amount of support to provincial funding markets; (iii) CAD2.993 billion (April 29 peak): The Commercial Paper Purchase Program (“CPPP” or “the program”) will be structured as a direct purchase program into a separate account held by the Bank of Canada (“BoC” or “the Bank”). The program will purchase CP new issuance in the primary market via dealers and after issuance from eligible counterparties in the secondary market. The program will purchase from eligible issuers up to three-month CAD-denominated CP, including asset-backed CP (“ABCP”). Draws can be rolled during the operation of the program; (iv) CAD211.227 billion (June 10 peak): (CTRF) Term Repo Facility and other term repos. Up to 1 month repos; Standing Liquidity Facility and Standing Term Liquidity Facility; March 4 level was CAD14.518 billion, so peak = 211.227 - 14.518 = CAD196.709 billion; (v) Advances = CAD9.904B (April 15 peak); (vi) No amount/estimate; the Canada Emergency Business Account (CEBA) will provide interest-free loans of up to CAD 40,000 to small businesses and not-for-profits; (vii) Farm Credit Canada will provide an additional CAD5 billion in lending to producers, agribusiness, and food processors; (viii) Canadian Dairy Commission's borrowing limit increased by CAD200 million; (viii) June 3, Effective June 6, the BoC will reduce the frequency of BAPF operations to bi-weekly; (ix) June 3, Effective June 15 the BoC will reduce the frequency of its Term Repo operations from twice to once per week, and the number of maturity points will be reduced from 4 to 2; (x) Farm Credit Canada was authorized by the government to provide an additional CAD5 billion in lending to producers, agribusiness, and food processors.

Canada 01B 01B - Support policies for short-term lending CAD Bank of Canada.; Bank of Canada. (all accessed 10 June 2020).

No amount/estimate. (i) Most recent collateral policies, assets aligible as Collateral under the Bank of Canada’s Standing Liquidity Facility (SLF), provides access to liquidity to those institutions that participate directly in the Large Value Transfer System (LVTS).(ii) On April 9, the Bank widened the eligibility requirements of term asset-backed securities accepted as collateral; (iii) April 24, the Bank included term repurchase agreements up to 90 days in its Standing Term Liquidity Facility (STLF); (iii) June 3, eligible securities for collateral in Term Repo operations will be reduced to exclude all large value transaction settlement (LVTS) members' bankers' acceptances or bearer deposit notes (including own name).

Canada 01C 01C - Forex operations CAD
Canada 02 02 - Credit creation CAD 517,954,000,000 371,226,661,889
Canada 02A 02A - Financial sector lending/funding CAD 217,954,000,000 156,211,431,643 Bank of Canada.; Bank of Canada. (all accessed 10 June 2020).

(i) Increase in Mortgage Bonds = CAD7.954 billion (peak August 19) [update] - Canada Mortgage Bond Purchase Program (CMBP) will target CAD 500 million in purchases per week; (ii) CAD 50 billion limit; CAD7.884 billion (peak August 19) [update]. The Provincial Bond Purchase Program (“PBPP” or “the program”) will be structured as a direct purchase program into a separate account held by the Bank of Canada (“BoC” or “the Bank”), managed by BMO Global Asset Management Inc. (“BMO GAM” or “the Asset Manager”) and supported by Canadian Imperial Bank of Commerce Mellon (“CIBC Mellon” or “the Custodian”) as a custodian. The program will support the liquidity and efficiency of provincial government funding markets. The program’s parameters may be expanded if conditions warrant. (iii) CAD10 billion limit. Beginning May 26, the Corporate Bond Purchase Program (CBPP) will purchase eligible corporate bonds in the secondary market. The program size will be capped at CAD10 billion and will be restricted to senior secured and unsecured bonds originated by Canadian incorporated companies with a remaining maturity of up to 5 years and a minimum credit rating of BBB or equivalent; Since July 22, bonds purchased through the CBPP were CAD141 million [update]; (iv) CAD150 billion; the government's Insured Mortgage Purchase Program (IMPP) purchases insured mortgage pools through the Canada Mortgage Housing Corporation (CMHC); (v) April 28, The Bank of Canada began offering 24-month repurchase operations (amount included in repurchase operations in 1A).

Canada 02B 02B - Support policies for long-term lending CAD 300,000,000,000 215,015,230,245 Department of Finance Canada. BoC (all accessed 10 June 2020).

(i) The Office of the Superintendent of Financial Institutions (OSFI) announced it is lowering the Domestic Stability Buffer by 1.25% of risk-weighted assets to 1%, effective immediately. This action will allow Canada’s large banks to inject CAD300 billion of additional lending in to the economy; (ii) June 3, the BoC maintained its targets at 0.5% for the Bank Rate (penalty rate) and 0.25% for both the deposit rate (interest on reserves) and the overnight rate target;

Canada 02C 02C - Loan guarantees CAD Department of Finance Canada. (accessed 10 June 2020).

No amount/estimate: Loan Guarantee for Small and Medium-Sized Enterprises through the Business Credit Availability Program, Export Development Canada (EDC) is working with financial institutions to guarantee 80% of new operating credit and cash flow term loans of up to CAD6.25 million to small and medium-sized enterprises (SMEs).

Canada 03 03 - Direct long-term lending CAD 25,000,000,000 17,917,935,854
Canada 03A 03A - Long-term lending CAD 25,000,000,000 17,917,935,854 Department of Finance Canada. (accessed 10 June 2020).

(i) CAD25 billion- Expanding the Canada Emergency Business Account (CEBA) to businesses that paid between CAD20,000 and CAD1.5 million in total payroll in 2019.

Canada 03B 03B - Forbearance CAD Bank of Canada. (accessed 10 June 2020). Canada Department of Finance (accessed 1 July 2020)

(i) Mortgage Payment Deferral from the Canada Mortgage and Housing Corporation, in which interest on mortgage deferrals is added to the principal; no amount/estimate; (ii) Canada Emergency Commercial Rent Assistance (CECRA) for small businesses. This program will lower rent by 75% for small businesses that have been affected by COVID-19; June 30, CECRA was extended by one month to cover small business rents for July and, to simplify the application process, the government is removing the requirement to claw-back insurance proceeds and provincial rent supports from the CECRA forgivable loan amount for both existing and new applicants; This will provide important relief for small businesses that continue to experience financial hardship, and also allow property owners to maintain rental income and keep tenants in their commercial properties as the economy gradually restarts; (iii) No amount/estimate: Deferring payments for tourism operators on commercial leases and licenses of occupation;

Canada 04 04 - Equity support CAD 537,000,000 384,877,262 Department of Finance Canada. (accessed 10 June 2020).

(i) CAD287 million to support rural businesses and communities by providing them with much-needed access to capital through the Community Futures Network. (ii) CAD250 million to assist innovative, early-stage companies that are unable to access other COVID-19 business supports through the Industrial Research Assistance Program (IRAP).

Canada 05 05 - Health and income support CAD 48,839,100,000 35,003,834,438
Canada 05A 05A - Health support CAD 77,500,000 55,545,601 Department of Finance Canada. (accessed 10 June 2020).

(i) CAD77.5 million - Personal protective equipment (PPE).

Canada 05B 05B - Income support CAD 48,761,600,000 34,948,288,837 Department of Finance Canada.. (accessed 10 June 2020). Department of Finance (accessed 20 July 2020). Department of Finance (accessed 31 July 2020). Department of Finance (accessed 1 August 2020)

(i) Emergency care benefit - CAD10 billion; (ii) Emergency Support Benefit - CAD5 billion; (iii) GST Credit - CAD5.5 billion; (iv) Enhanced Canada Child Benefit - CAD1.9 billion; (v) Temporary Business Wage Subsidy - CAD3.8 billion; (vi) Canada Student Loan Payments - CAD190 million; (vii) Support for Indigenous Communities - CAD305 million; (viii) Support for people experiencing homelessness (through Reaching Home) - CAD157.5 million; (ix) Support for women’s shelters and sexual assault centres including on reserve - CAD50 million; (x) Lower Registered Retirement Income Fund Minimum Withdrawal Amounts - CAD495 million; (xi) CAD10.5 billion as of June 8; Canada Emergency Wage subsidy (CEWS) calculator, the CEWS applies at a rate of 75% of the first CAD58,700 normally earned by employees-representing a benefit of up to CAD847 per week, per employee. The program is in place for a 12-week period, from March 15 to June 6, 2020; (xii) CAD20.1 million in support for Futurpreneur Canada to continue supporting young entrepreneurs across Canada who are facing challenges due to COVID-19; (xiii) CAD15 million in non-repayable support for businesses in the territories to help address the impacts of COVID-19; (xiv) CAD675 million to give financing support to small and medium-sized businesses that are unable to access other COVID-19 business supports, through Canada's Regional Development Agencies; (xv) CAD274 million - Creating new jobs and opportunities for youth; (xvi) No amount/estimate: Canada Emergency Response Benefit (CERB) provides a taxable benefit of CAD2,000 every 4 weeks for up to 16 weeks to eligible workers who have lost their income due to COVID-19; (xvii) CAD2.47 billion - clean energy; (xviii) CAD350 million - to support vulnerable Canadians through charities and non-profit organizations; (xviii) No amount/estimate: Waiving ground lease rents through December 2020 for airport authorities that pay rent to the federal government; (xix) CAD500 million - COVID-19 Emergency Support Fund for cultural, heritage, and sport organization to address financial needs of affected organizations so they can continue to support artists and athletes; (xx) CAD5.365 billion for agriculture and fisheries; (xxi) No amount/estimate: Increased payments of 50% to 75% to AgriStability to support farmers that face significant revenue declines; (xxiii) No amount/estimate: Flexibility for individual and corporate taxpayers (tax payment deferral until September); (xxiv) AgriRecovery initiative of up to CAD125 million to help producers faced with additional costs incurred such as set-asides for cattle and hog management programs to manage livestock backed-up on farms, due to temporary closure of food processing plants; (xxv) Surplus Food Purchase Program of CAD50 million to help redistribute existing and unsold food inventories; (xxvi) No amount/estimate; July 20, the Finance Ministry announced proposed changes to the Canada Emergency Wage Subsidy (CEWS) that would extend it to December 19, 2020, make the subsidy eligible to a broader range of employers by including those with a revenue decline of less than 30 percent, introduce a top-up subsidy up to an additional 25 percent for employers most adversely affected; (xxvii) July 27, the Department of Finance announced that Bill C-20, An Act Respecting Further COVID-19 Measures, ensures the CEWS continues through December 19, 2020, is now accessible to a broader range of employers, introduces a top-up subsidy of up to an additional 25 percent employers most adversely affected by COVID-19; the Bill also provides a one-time non-taxable payment of up to CAD600 to approximately 1.7 million to eligible disabled individuals--amount = 1.7 million x CAD600 = CAD1.02 billion; (xxviii) No amount/estimate: July 31, the Department of Finance announced an extension of rent relief for small businesses by one month through the Canada Emergency Commercial Rent Assistance;

Canada 06 06 - Budget reallocation CAD
Canada 07 07 - Central bank financing government CAD 249,777,000,000 179,019,530,550
Canada 07A 07A - Direct lending and reserve drawdown CAD
Canada 07B 07B - Secondary purchase: government securities CAD 249,777,000,000 179,019,530,550 Bank of Canada. (accessed 10 June 2020).

Government of Canada Bond Purchase Program (GBPP): Purchases will begin with a minimum of CAD5 billion per week across the yield curve. The program will be adjusted as conditions warrant but will continue until the economic recovery is well underway. As of August 19 ,T-bill holdings have increased by CAD94.983 billion, with the maximum increase since the end of February occurring on July 29 at CAD115.008 billion; government bond holdings have increased by CAD133.429 billion, which is also the point of maximum increase since the end of February [update]; June 3, Bank of Canada began purchasing Government of Canada Real Return Bonds; as of August 19, the purchased amount is CAD1.34 billion, which is also the point of maximum increase since the purchases began. [update]

Canada 08 08 - International Assistance Received CAD
Canada 08A 08A - Swaps CAD

No amount/estimate: BoC together with central banks from Japan, Euro Area, UK, US, and Switzerland, announced a coordinated central bank action to further enhance the provision of liquidity via the standing US dollar liquidity swap line arrangements; Starting with the Fed's expansion of its central bank swap lines on March 2, the BoC had not used the swap line to acquire US dollars from the Federal Reserve.

Canada 08B 08B - International loans/grants CAD
Canada 08B1 08B1 - Asian Development Bank CAD
Canada 08B2 08B2 - Other CAD
Canada 09 09 - International Assistance Provided CAD
Canada 09A 09A - Swaps CAD
Canada 09B 09B - International loans/grants CAD
Canada 10 10 - No breakdown CAD
Canada 11 11 - Other Economic Measures CAD
Canada 12 12 - Non-Economic Measures CAD International Monetary Fund. (accessed 10 June 2020).

(i) Travel restrictions; (ii) Social distancing measures; (iii) Declarations of states of emergency; (iv) Closures of non-essential businesses in some provinces; (v) Reopening the economy. On April 28, Prime Minister Trudeau released a joint statement with premiers across Canada on their shared public health approach to support restarting the economy; all provinces have begun to implement plans to reopen.

European Central Bank 01 01 - Liquidity Support EUR
European Central Bank 01A 01A - Short-term lending EUR OECD. (accessed 29 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 01B - Support policies for short-term lending EUR IMF. (accessed 29 April 2020); OECD. (accessed 29 April 2020).

No amount/estimate: (i) The ECB also announced a broad package of collateral easing measures for Eurosytem credit operations in early April. These include a permanent collateral haircut reduction of 20 percent for non-marketable assets, and temporary measures for the duration of the PEPP (with a view to re-assess their effectiveness before the end of 2020) such as a reduction of collateral haircuts by 20 percent and expansion of collateral eligibility to include Greek sovereign bonds as well as an expansion of the scope of so-called additional credit claims framework so that it may also include public sector-guaranteed loans to SMEs, self-employed individuals, and households. In a move to mitigate the impact of possible rating downgrades on collateral availability , on April 22, the ECB also announced that it would grandfather until September 2021 the eligibility of marketable assets used as collateral in Eurosystem credit operations falling below current minimum credit quality requirements of “BBB-“ (“A-“ for asset-backed securities) as long as their rating remains at or above “BB” and “BB+”, respectively. Assets that fall below these minimum credit quality requirements will be subject to haircuts based on their actual ratings; (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 01C - Forex operations EUR
European Central Bank 02 02 - Credit creation EUR 4,470,000,000,000 4,944,690,265,487
European Central Bank 02A 02A - Financial sector lending/funding EUR 4,470,000,000,000 4,944,690,265,487 OECD. (accessed 29 April 2020); ECB. (accessed 22 May 2020); ECB. ( accessed 9 June 2020).

(i) March 12, estimated EUR3 trillion for the targeted longer-term refinancing operations (TLTROs) which 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; (ii) March 12, Adding a temporary envelope of additional net asset purchases of EUR120 billion until the end of the year; (iii) March 18, launched 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. Based on The European Central Bank is “fully prepared” to provide even more stimulus as soon as June to support an economy that may shrink by a tenth this year due to the COVID-19 pandemic, the accounts of the bank’s April meeting showed on Friday; (iv) expanding the range of eligible assets under the corporate sector purchase programme (CSPP) to non-financial commercial paper; (v) June 4, The PEPP envelope will be increased by EUR600 billion to a total of EUR1,350 billion. The purchases will continue to be conducted in a flexible manner over time, across asset classes and among jurisdictions. This allows the Governing Council to effectively stave off risks to the smooth transmission of monetary policy. The horizon for net purchases under the PEPP will be extended to at least the end of June 2021. In any case, the Governing Council will conduct net asset purchases under the PEPP until it judges that the coronavirus crisis phase is over .

European Central Bank 02B 02B - Support policies for long-term lending EUR EC. (accessed 15 April 2020); EC. (accessed 18 April 2020); EC. [accessed 3 May 2020]; EC. (accessed 30 April 20202); OECD. (accessed 18 April 2020); IMF. (accessed 9 May 2020); ECB. (accessed 30 July 2020).

(i) March 12, 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). On April 30, ECB lowered the rate on the third round of targeted longer-term refinancing operations (TLTRO III) to -1% from -0.75%. On the same day, ECB decided to conduct a series of seven pandemic emergency longer-term refinancing operations (PELTROs) to provide liquidity support to the euro area financial system and ensure smooth money market conditions during the pandemic period. 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; (vi) April 28, the European Commission proposed a number of changes to the Capital Requirements Regulation (Regulation (EU) 575/2013) to provide temporary capital relief to banks. These changes include inter alia extending by 2 years the current transitional arrangements for mitigating the impact of IFRS 9 provisions on regulatory capital, a later date of application of the leverage ratio buffer for global systemically important institutions, a more favourable treatment of publicly guaranteed loans under the NPL prudential backstop (the minimum loss coverage requirement for non-performing loans), and advancing the date of application of capital reduction factors in respect of certain loans to SMEs or in support of infrastructure investments; (vii) No amount/estimate: April 30, New series of non-targeted PELTROs, conducted as fixed rate tender procedures with full allotment, rate fixed at 25bp below refi rate. Operations mature in staggered sequence between July-September 2021; (viii) No amount/estimate: ECB recommended for banks not to pay dividends until January 2021 and clarified that it will not require banks to start replenishing their capital buffers before the peak in capital depletion is reached .

European Central Bank 02C 02C - Loan guarantees EUR
European Central Bank 03 03 - Direct long-term lending EUR
European Central Bank 03A 03A - Long-term lending EUR
European Central Bank 03B 03B - Forbearance EUR
European Central Bank 04 04 - Equity support EUR