Country Fiscal (funded) Fiscal (indirect) Fiscal (credit) Monetary
USA Congress passes $2tn multi-prong stimulus package including $1,200 recovery rebate and pension changes (CNN)

Congress approves $484bn relief package (Financial Times)

Congress passes $2tn multi-prong stimulus package including 90 day corporate tax deferrals, rebates and tax credits (CNN)

FHFA caps mortgage firms payments to investors (Reuters)

Congress passes $2tn multi-prong stimulus package (CNN) Fed sets up new repo facility (“FIMA”) to meet global USD demand (Financial Times)

Fed setups swap lines with other central banks (Financial Times)

Fed pledges to buy unlimited Treasury bonds (Financial Times)

EU  €37bn made available to support key sectors liquidity and hardest hit EU countries (EC)

€800m made available for hardest hit countries from Solidarity Fund (EP)

€40bn of financing  from EIB for bridging  loans, credit holidays  and liquidity measures (EIB)

TLTRO III bank finance  conditions eased (ECB)

Pandemic Emergency Longer-Term Refinancing Operations (PELTROs) seven additional longer-term re-financing operations to provide an effective backstop after the expiry of the bridge longer-term financing operations (LTROs)

€750bn ECB asset purchasing programme (ECB)

ECB accepts downgraded bonds as collateral (ECB)

ECB reduces interest rate to -0.5% on TLTRO III  (ECB)

€5bn investment from EIB (EIB)

UK  Income protection for employees and self-employed (GOV / GOV)

Grants for small  businesses (GOV)

Government to quadruple borrowing from £39bn to £180bn for the quarter (Financial Times)

Additional £617m in grants to small businesses (Financial Times)

Tax payment  deferrals (GOV)

Business rates holiday for certain sectors (GOV)

Government loans  available to SMEs and large businesses (BBB and GOV)

Government grants and loans for start-ups (Financial Times)

SME loans up to £50k will be 100% guaranteed (City AM)

Extension to the 3-month and 1-month Contingent Term Repo Facility (BoE)

BoE term funding  scheme to banks to  support lending (BoE)

BoE acquiring  commercial paper of  IG businesses (BoE)

Term funding from  BoE available to  banks for exchange  of less liquid  collateral (BoE)

QE increases £200bn  and interest rates cut (BoE)

Ireland  Income protection for employed (Gov)

Increased welfare payments (Gov)

Deferral of business rates (Gov)

Revenue of debt enforcement suspended (Gov)

€200m WC capital loan scheme (SBCI)

€200m restructuring scheme for vulnerable businesses (Enterprise Ireland)

Improvements to existing government loan and grant schemes (Gov)

€2bn credit scheme for SMEs (Reuters)

See EU monetary stimulus
Netherlands Income support of up to 90% for employees at companies with 20% revenue decrease (NL gov)

Self-employed support (NL gov)

3 month deferral of payroll, income and corporate tax payments (NL gov)

Reduced interest on late payments of 0.01% (NL gov)

Government loan guarantee ceiling increased to €1.5bn (NL gov)

Interest rate deduction on Qredits for SMEs (NL gov)

See EU monetary stimulus
Germany Expanded welfare benefits (BdF)

€50bn of grants available to SMEs (BdF)

Companies can apply to defer tax payments (KPMG) €825bn of federal government backed loans made available (KfW) See EU monetary stimulus
France €345bn aid package including deferred taxes, social welfare and business loans (Gouv) 3 month deferral of next direct tax payments (KPMG) €345bn aid package including deferred taxes, social welfare and business loans (Gouv)

€4bn refinancing, tax credit payments and cash flow guarantee package for startups (Reuters)

See EU monetary stimulus
Italy €4.3bn aid package for mayors (Reuters)

€600 allowance for self-employed (Sole 24 Ore)

Strengthened social security (MEF)

Tax payment deferrals and tax incentives for individuals and businesses worth €1.6bn (MEF)

Banks can convert DTAs into tax credits (EY)

€5.1bn credit support for businesses (MEF) €7.8bn injection into the economy from the Bank of Italy (Sole 24 Ore)

See EU monetary stimulus

Spain Social security net expanded (GOB)

€16bn reconstruction fund (El Pais)

Allows deferral of tax payments for 6 months for SMEs and self-employed (La Vanguardia) €100bn of government loan guarantees extended (GOB)

€24.5bn in credit will be made available to businesses (El Pais)

See EU monetary stimulus
Portugal Simplified lay-off regime, government will paid 70% of the reduced wages and additional future benefits for retaining employees (DRE) Tax deadlines delayed for companies and self-employed (DRE) €6.2bn credit lines made available to companies (SPGM) See EU monetary stimulus
Greece Direct payments of €800 to 1.7m employees (Kathimerini) Suspension of VAT payments and discount for taxes paid on time (Kathimerini) €1bn of government business loans made available (Euro2day) See EU monetary stimulus
Cyprus Improved welfare package (CY gov)

Income protection for SME employees (CY gov)

VAT payments deferred for two months and reduction in VAT rate (CY gov) Favourable interest rates for new loans (CBC)

Simplification of debt restructuring (CBC)

Bank of Cyprus released capital and liquidity for banks of €100m (CBC)

See EU monetary stimulus