LONDON, May 12 (Reuters) - Governments and central banks around the world have unleashed unprecedented amounts of fiscal and monetary support for economies that are reeling from the coronavirus pandemic. Following is a summary of the main fiscal and monetary policy announcements taken by policymakers from the Group of 20 major world economies and a few others. For a separate FACTBOX outlining the response from global central banks since the crisis began: Major G7 economies with euro zone Country/Region Fiscal policy Monetary policy / market operations United States March 27 - $2.3 trillion aid March 3 and March 15 - The Fed cuts package including: $500 billion interest rates in two emergency meetings on to help hard-hit industries; $350 March 3 (50 basis points) and March 15 (100 billion for small-business loans; bps), taking the federal funds rate to $250 billion for expanded 0-0.25%. It also cut the discount window unemployment aid; at least $100 rate by 150 basis points. billion for hospitals and related health systems. March 18 - The Fed rolls out its third April 23 - The U.S. House of emergency credit program in two days; this Representatives approves a $484 one aimed to ensure liquidity in money billion coronavirus relief bill, market mutual funds. funding small businesses and hospitals and pushing the total March 23 - The Fed promises unlimited, spending response to the crisis open-ended QE, including purchases of to near $3 trillion. corporate and municipal bonds. March 31 - The Fed broadens access to dollars with repo agreements for foreign central banks. April 9 - The Fed rolls out $2.3 trillion to backstop "Main Street" local governments and small and mid-sized businesses. April 27 - The Fed broadens its help for local governments, offering to buy bonds of up to three years' duration from counties with as few as 500,000 residents and cities with as few as 250,000 residents. United Kingdom March 11 - Britain unveils a 30 March 11 and 19 - The Bank of England cuts billion pound stimulus plan. interest rates in two emergency meetings on March 11 (50 bps) and March 19 (15 bps), taking the rate to a record low of 0.10%; March 17 - Britain says it will announced 200 billion pounds of bond launch a 330 billion pound purchases. The BoE introduced a new lifeline of loan guarantees to programme for cheap credit and reduced a businesses. capital buffer to help banks lend. March 20 - Offer to pay 80% of wage bills if staff put on leave, March 17 - A BoE corporate financing up to a maximum of 2,500 pounds a facility will buy commercial paper with a month. Businesses also allowed to maturity of up to 12 months from businesses temporarily hold onto 30 billion that had a pre-crisis investment-grade pounds in VAT. credit rating or similar. March 27 - Britain says it will ramp up its bid to slow a surge April 2 - The BoE says it will double the in unemployment during the size of its corporate bond purchase coronavirus crisis by pledging programme to at least 20 billion pounds. public money to cover national insurance and pension contributions for companies that temporarily ask employees not to work. April 17 - Furlough scheme extended by a month until the end of June. May 12 - Furlough scheme extended by a further four months until the end of October. Japan March 10 - The government March 16 - The Bank of Japan eases monetary announces 430.8 billion yen of policy by ramping up purchases of extra spending. exchange-traded funds (ETFs) and other risky assets, including corporate bonds. It April 7 - The government approves is also creating a new loan programme to an unprecedented economic extend one-year, zero-rate loans to stimulus package equal to 20% of financial institutions. Planned annual economic output. The package increase in the Bank's government bond totals 108 trillion yen and holdings held at 80 trillion yen. includes cash payouts worth more Introduces new lending facility worth 8 than 6 trillion yen to households trillion yen. and small and midsize firms. April 27 - BoJ pledges to buy unlimited amounts of bonds; will boost by three-fold April 16 - Japan PM Abe says the maximum amount of corporate bonds and government to consider making commercial debt it buys to 20 trillion yen. cash payouts of 100,000 yen to FACTBOX on key steps: everyone. April 20 - Japan's government says it is boosting its economic stimulus package by 8% to $1.1 trillion. Canada March 18 - The government will March 12 - The Bank of Canada announces provide C$55 billion in temporary expansion to the list of eligible additional aid to businesses and securities for its term repo operations. households through tax deferrals; C$27 billion aid package for workers and low-income March 26 - Canadian Mortgage and Housing households. Corp bolsters the insured mortgage purchase programme to C$150 billion from previously announced C$50 billion. March 30 - Ottawa will cover up to 75% of the wages of people March 27, March 13 and March 4 - The Bank working for small and of Canada cuts rates in three emergency medium-sized enterprises. meetings on March 4 (50bps), March 13 (50 bps) and March 27 (50 bps), taking the overnight interest rate to 0.25%. March 27 - The Bank of Canada says it will buy Government of Canada securities in the secondary market. It will begin with purchases of C$5 billion per week, across the yield curve. Euro zone March 23 - European Union finance March 12 - The ECB cuts the interest rate ministers formally endorse the on its Targeted Long-Term Refinancing suspension of limits on EU Operations (TLTROs) - cheap loans to banks government borrowing. - by 25 basis points to -0.75%. It adds 120 Considering allowing billion euros to its existing precautionary credit line worth asset-purchase programme of 20 billion 2% of national GDP from ESM euros a month. bailout fund. March 19 - The ECB adds another 750 billion euros in QE, taking the total to about 1.1 April 9 - European Union finance trillion euros this year, and added Greek ministers agree on half a government debt to the portfolio of bonds trillion euros' worth of support, it would purchase. bringing the EU's total fiscal response to the epidemic to 3.2 March 26 - The ECB eliminates a cap on how trillion euros. many bonds it can buy from any single euro zone country. April 23 - European Union leaders agree to build a trillion euro April 30 - The ECB lowers interest rates on emergency fund to help recover its long-term loans for banks (TLTROs) to from the coronavirus pandemic. as little as -1.0% and launches a similar new loan scheme called Pandemic Emergency Longer-Term Refinancing Operations or PELTROs. Germany FISCAL STIMULUS: March 23 - Package worth up to 750 billion euros including: 100 billion euros for an economic stability fund that can take direct equity stakes in companies; 100 billion euros in credit to public-sector development bank KfW for loans to struggling businesses; stability fund will offer 400 billion euros in loan guarantees to secure corporate debt at risk of defaulting. France FISCAL STIMULUS: March 16 - Guaranteed up to 300 billion euros of corporate borrowing from commercial banks. March 17 - 45 billion euros of crisis measures to help companies and workers. Italy FISCAL STIMULUS: March 16 - Emergency decree worth 25 billion euros, suspending loan and mortgage repayments for companies and families and increasing funds to help firms pay workers temporarily laid off. April 6 - New emergency decree approved that will offer more than 400 billion euros worth of liquidity and bank loans to companies. Spain FISCAL STIMULUS: March 17 - A 200 billion euro package; half in state-backed credit guarantees for companies and the rest including loans and aid for vulnerable people. March 31 - The government approves a 700 million euro aid package, including a measure to suspend evictions of vulnerable households for six months after the state of emergency is lifted. Other major G20 economies China March 27 - The Communist Party's Feb 20 - The People's Bank of China cuts Politburo says it will step up its one-year Loan Prime Rate by 10 basis macroeconomic policy changes and points to 4.05%, after various liquidity pursue more proactive fiscal injections and other policy easing earlier policy. It calls for expanding in the year. the budget deficit, issuing more local and national bonds, guiding Feb 25 - China offers easier funding for interest rates lower, delaying small and medium-sized businesses, loan repayments, reducing increasing yuan re-lending and re-discount supply-chain bottlenecks and quotas by 500 billion yuan; China also boosting consumption. increased policy banks' loan quota by 350 billion yuan to make loans targeting these Earlier in the year, Beijing businesses introduces various small measures and fiscal expenditure such as March 13 - The PBOC cuts the amount of cash tax breaks, reduced power charges banks must hold as reserves for the second and fee reductions. time this year, releasing 550 billion yuan. March 30 - The PBOC lowers the seven-day reverse repo rate to 2.20% from 2.40%, the largest cut in nearly five years. . April 3 - The PBOC says it will cut the reserve requirement ratio (RRR) for small banks by 100 basis points, releasing around 400 billion yuan. It will be implemented in two phases - the first 50 basis point cut will be effective April 15 and a second 50 bps cut will be effective May 15. April 15 - The PBOC says it was lowering the one-year medium-term lending facility (MLF) loans to financial institutions to 2.95%, the lowest since the liquidity tool was introduced in September 2014, down 20 basis points from 3.15% previously. April 20 - The PBOC cuts the 1-year loan prime rate by 20 basis points to 3.85%, while the 5-year was cut by 10 bps to 4.65% from 4.75%. April 24 - Cuts the one-year interest rate on its targeted medium-term lending facility (TMLF) by 20 basis points to 2.95% from 3.15%. May 10 - The PBOC says it will step up counter-cyclical adjustments and make monetary policy more flexible. Russia April 1 - Russia earmarks nearly April 24 - Russia's central bank cuts its 1.4 trillion roubles to fight the key interest rate by 50 basis points to spread of the coronavirus and its 5.50%. economic fallout. April 16 - Economy minister Maxim Reshetnikov says Russia is set to spend more than 2 trillion roubles to counter the effects of the coronavirus pandemic. India March 26 - The federal government March 27 - The Reserve Bank of India announces a 1.7 trillion rupee slashes its benchmark repo rate by 75 basis stimulus plan providing direct points to 4.40%. cash transfers and food security measures. April 17 - The RBI cuts its reverse repo rate by 25 basis points to 3.75%. May 12 - Prime Minister Narendra Modi announces a 20 trillion rupee economic support package. April 27 - RBI opens a special liquidity facility of up to 500 billion rupees to help tide over mutual funds facing a severe liquidity strain. Australia March 22 - A$66.4 billion in March 19 and March 3 - The Reserve Bank of assistance for companies and Australia cuts rates in two steps (25 bps additional welfare payments; on March 3, 25 bps on March 19), taking the A$17.6 billion in subsidies for cash rate to 0.25%; introduced the first apprentices, small businesses, use of quantitative easing, setting a pensioners and others; A$130 target of around 0.25% for bond yields. billion to subsidise wages of an estimated 6 million people. [nL4N2BC1 March 19 - A A$90 billion funding facility EE] to banks at fixed rate of 0.25%; A$15 billion purchase programme of residential mortgage-backed and other asset-backed securities; A$715 million support programme for airlines. Indonesia March 31 - Jakarta announces an Feb. 20 - Indonesia's central bank cuts additional $24.9 billion in its key policy interest rate by 25 basis spending, including a 3 points to 4.75%. percentage point reduction in the corporate tax rate to 22%. Other March 19 - Bank Indonesia cuts its measures were expanding social seven-day reverse repurchase rate by 25 welfare to benefit up to 10 basis points to 4.50%. million households, food assistance and electricity tariff April 14 - Bank Indonesia cuts the reserve discounts and waivers. requirement ratio for banks by 200 basis points and 50 bps for Islamic banks, while also tweaking other liquidity rules, effective May 1. May 6 - Central bank chief pledges to provide as much liquidity as needed. Brazil March 16 - 150 billion reais March 18 - Central Bank of Brazil cuts budget boost to support most interest rates by 50 basis points to 3.75% vulnerable population and jobs; and eased capital requirements for presidential decree declaring financial institutions. national emergency allowing the [nL1N2B government to waive fiscal G0DD] targets and free up budget resources. March 23 - 1.2 trillion reais central bank programme to inject liquidity through April 1 - Brazil's government purchases of bank loan portfolios; new launches a 51 billion reis rules allowing banks to offer firms and programme that will allow households increased loans and better companies to reduce workers' terms; central bank intervention in FX salaries and hours, or markets and repurchases of temporarily suspend contracts, in dollar-denominated sovereign bonds. order to preserve jobs. May 6 - Cuts benchmark Selic rate by 75 basis points to a record-low 3.00%. South Korea March 17 - South Korea's March 16 - The Bank of Korea cuts interest parliament approves a rates by 50 basis points to 0.75%. supplementary budget of 11.7 trillion won to combat the economic fallout from the April 16 - Central bank sets up plan for coronavirus outbreak. brokerages to borrow funds against collateral that includes AA- rated corporate bonds. March 19 - South Korean President Moon Jae-in pledges 50 trillion won in emergency financing for small businesses and other stimulus measures. March 24 - South Korea doubles its planned economic rescue package to 100 trillion won. The package includes 29.1 trillion won in loans to small- and medium-sized companies, while another 20 trillion won will be used to buy corporate bonds and commercial paper of companies facing a credit crunch. March 30 - The government will make emergency cash payments to all but the richest families, totalling 9.1 trillion won, drawing up a second supplementary budget in April. Initial supplementary budget worth 11.7 trillion won; 50 trillion won in emergency financing for small businesses; key capital flow rules temporarily further loosened to encourage local financial institutions to supply more dollars. [nL4N2BC0 M1] April 8 - President Moon Jae-in says the government will make an additional 36 trillion won of cheap loans available to exporters. Moon also says fresh measures worth 17.7 trillion won would be rolled out to boost consumption and support domestic demand. April 30 - Parliament approves the government's second supplementary budget at a revised 12.2 trillion won, bringing the government's total spending to 531.1 trillion won for this year. The government will issue an additional 3.4 trillion won of deficit-covering bonds. South Africa April 6 - South Africa says it March 19 - The South African Reserve Bank would set aside 1.2 billion rand cuts its main lending rate by 100 basis to help small-scale farmers in a points to 5.25%. bid to support food production. March 25 - The SARB announces a programme to buy bonds on secondary market. April 14 - The SARB reduces its main lending rate by another 100 basis points to 4.25%. Mexico April 5 - Mexico's president March 20 - Mexico central bank cuts rates unveils a plan to lift the 50 basis points to 6.50%. economy out of the coronavirus crisis, vowing to help the poor April 8 - Mexican financial authorities and create jobs. agree to apply looser liquidity rules on banks to help them weather the economic and April 17 - The president vows to financial storm caused by the coronavirus inject around $2.5 billion into outbreak. the economy in May to mitigate the effects of the pandemic. April 21 - Mexico's central bank announce around $31 billion in support for the financial system and cut borrowing costs in April 22 - Mexico will increase the country's most decisive move yet to spending on social programs and cushion the blow of the pandemic. infrastructure projects by $25.6 billion, President Andres Manuel Lopez Obrador says. Argentina March 23 - The Argentine March 19 - Argentina's central bank says it government says it will make a will lower reserve requirements for banks one-time payment of 10,000 pesos that extend special credit lines to small in April to low-income or and medium-sized enterprises at a maximum informal workers unable to pay annual interest rate of 24% in a bid to their bills because of the offset the impact of coronavirus. nationwide shutdown ordered by government to halt the spread of the coronavirus. April 20 - Argentina's government says it will widen an economic aid package to counter the impact of coronavirus to 850 billion pesos, equivalent to around 2.9% of the country's gross domestic product. (Compiled by Reuters Polls; Editing by Catherine Evans and Gareth Jones)
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