| A | B | C | D | E | F | G | H | K | L | |
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1 | Historical COVID-19 Financial Response Tracker | by the Yale Program on Financial Stability (YPFS) | FOR INTERVENTIONS MADE AFTER 9/1/20 PLEASE VIEW OUR NEW TRACKER STYLE ON THE YPFS COVID-19 WEBSITE. Purpose: This tracker follows interventions by central banks, fiscal authorities, and organizations aimed at restoring financial stability. The tracker will also highlight proposals from people and institutions outside of government. Email us with questions or comments at ypfs@yale.edu. PLEASE NOTE: this tracker is not meant to be comprehensive and aims to track as many interventions as possible across the globe. If you have any questions or suggestions for responses we may have missed, please click here: https://forms.gle/jwtsWjZSiDKUAba16 | Link to YPFS COVID-19 Crisis Materials | ||||||
2 | Blue=Official actions | Green=Official proposals | Yellow=Other experts | Link to the Tracker Visualization | ||||||
3 | Country(ies) | Date (MM/DD/YYYY) | Action or Proposal | Name and/or Organization | Policy Action Type | Policy Action Details | Action Link | |||
20 | Argentina | 9/1/2020 | Action | Banco Central de la Republica Argentina | Macroprudential Policy | Established a new extension, until September 20, 2020, of the suspension of the summary exchange and financial actions instructed in the terms of the Laws of the Criminal Exchange Regime No. 19,359 and of Entities Financieras N ° 21,526, respectively, without prejudice to the validity of the procedural acts that are carried out in said period because the intervention of the accused is not necessary in them. | https://www.bcra.gob.ar/Noticias/Coronavirus-BCRA-prorroga-sumarios-financieros-al-20-septiembre.asp | |||
86 | Argentina | 8/27/2020 | Action | National Administration of Social Security | Macroprudential Policy | Resolved the suspension of the collection of the installments of the Program "CREDITOS ANSES" for the entire universe of holders of the different lines of loans for the months of September and October 2020, period during which the beneficiaries reached by this measure will not be able to request the granting of new program credits. | https://www.boletinoficial.gob.ar/detalleAviso/primera/234280/20200831 | |||
89 | Argentina | 8/27/2020 | Action | Banco Central de la Republica Argentina | Macroprudential Policy | Decided to extend until October 31 the validity of Communication A7030 and its updates and include a new facility that raises the deadline for companies to have available funds deposited in foreign bank accounts from 120 to 365 calendar days, originated in financial indebtedness with the outside and destined to the payment of capital and interests of obligations. | https://www.bcra.gob.ar/Noticias/bcra-ingreso-bonos-dolares-canje-deuda-local-2020.asp | |||
91 | Argentina | 8/27/2020 | Action | Banco Central de la Republica Argentina | Macroprudential Policy | Approved the method for calculating the Index for Rental Contracts of real estate for residential use, established in Article 14 of Law 27551. The law establishes that rental prices can only be adjusted annually, using an index made up in equal parts by the monthly variations of the consumer price index (CPI) and the average taxable remuneration of stable workers (RIPTE). | https://www.bcra.gob.ar/Noticias/coronavirus-bcra-facilidades-tarjetas-credito-septiembre.asp | |||
112 | Argentina | 8/25/2020 | Action | Government | Macroprudential Policy | Promulgated Law 27,562 that establishes the extension of the moratorium to alleviate the effects generated by the pandemic. The new law, sanctioned by the Congress of the Argentine Nation on August 13, 2020, contemplates the possibility of facing through quota plans, pension, tax and customs debts due until July 31 and provides forgiveness for taxpayers who comply with the term. The registration period will be available until October 31. | https://www.boletinoficial.gob.ar/detalleAviso/primera/234083/20200826 | |||
151 | Argentina | 8/19/2020 | Action | Banco Central de la Republica Argentina | Macroprudential Policy | Decided to extend again, until August 30, 2020, the suspension of the summary exchange and financial actions instructed in the terms of the Laws of the Criminal Exchange Regime No. 19,359 and of Financial Entities No. 21,526, respectively, without prejudice to the validity of the procedural acts that are carried out in said period because the intervention of the accused is not necessary in them. | https://www.bcra.gob.ar/Noticias/Coronavirus-BCRA-prorroga-sumarios-financieros-al-30-agosto.asp | |||
164 | Argentina | 8/18/2020 | Action | National Securities Commission | Macroprudential Policy | Extended the deadline for submitting the Annual Financial Statements (EECC) with closing June 30, 2020 and July 31, 2020 and Intermediate EECC with closing July 31, 2020 of all entities and investment instruments under the control of this body. | https://www.cnv.gov.ar/SitioWeb/Prensa/Post/1457/1457extension-del-plazo-de-presentacion-de-eecc-a-las-entidades-e-instrumentos-de-inversion-sujetos-al-control-de-la-cnv | |||
280 | Argentina | 8/4/2020 | Action | Banco Central de la Republica Argentina | Macroprudential Policy | Extended again, until August 16, 2020, the suspension of the summary exchange and financial proceedings instructed under the terms of the Foreign Exchange Penal Regime Laws No. 19,359 and Financial Entities No. 21,526, respectively, without prejudice to the validity of the procedural acts that are carried out in said period because the intervention of the accused is not necessary in them. | https://www.bcra.gob.ar/Noticias/Coronavirus-BCRA-prorroga-sumarios-financieros-al-16-agosto.asp | |||
288 | Mexico | 8/3/2020 | Action | National Commission of Insurance and Bonds | Macroprudential Policy | Established deadlines for the continuity of the procedures and the resolution of the procedures under the jurisdiction of the National Commission of Insurance and Bonds during the period of duration of the health emergency. | https://www.gob.mx/cnsf/es/articulos/acuerdo-por-el-que-se-establecen-plazos-para-la-continuidad-de-los-tramites-y-la-resolucion-de-los-procedimientos-competencia-de-la-cnsf?idiom=es | |||
310 | Brazil | 7/31/2020 | Action | Ministry of Economy | Macroprudential Policy | Extended, until August 31, the temporary suspension of collection acts due to the pandemic caused by the new coronavirus. The measure was established by Ordinance No. 103, of March 17, 2020 , of the Ministry of Economy, and regulated by Ordinance PGFN No. 7,821, of March 18, 2020 , which had the term extended by Ordinance PGFN No. 18,176, of July 30 2020. | https://www.gov.br/economia/pt-br/assuntos/noticias/2020/julho/procuradoria-geral-da-fazenda-nacional-prorroga-suspensao-dos-atos-de-cobranca-ate-31-de-agosto | |||
353 | Argentina | 7/29/2020 | Action | Government | Macroprudential Policy | Extended the prohibition of dismissals and suspensions without just cause for a period of 60 days and extended the Work and Production Assistance Program (ATP). | https://www.argentina.gob.ar/noticias/el-gobierno-nacional-extiende-la-prohibicion-de-despidos-y-el-atp | |||
365 | Brazil | 7/28/2020 | Action | Securities and Exchange Commission | Macroprudential Policy | Extended the suspension of the effectiveness of art. 9 of CVM Instruction 476. According to this article, the issuer cannot carry out another public offer of the same type of securities within the period of 4 months from the date of the closing or cancellation of the offer, unless the new offer is submitted to the CVM. | http://www.cvm.gov.br/noticias/arquivos/2020/20200728-3.html | |||
418 | Brazil | 7/23/2020 | Action | Securities and Exchange Commission | Macroprudential Policy | Extended the deadline for delivery of the quarterly ITR form by an additional 15 days, allowing publicly-traded companies a delaying in disclosing information pertaining to the second quarter of 2020. | http://www.cvm.gov.br/noticias/arquivos/2020/20200723-2.html | |||
462 | Brazil | 7/21/2020 | Action | Banco Central do Brasil | Macroprudential Policy | Approved the regulation for the sharing of fiduciary alienation of real estate provided for in Provisional Measure 992, of July 16, 2020. With the regulation, new credit operations contracted within the scope of the fiduciary alienation cannot have higher interest rates than the original operation and terms longer than the remaining term of the original credit operation, in order to provide favorable conditions for potential policyholders. In addition, the regulation approved by the CMN establishes that the ratio between the nominal value of the guaranteed obligations and the value of the property pledged as collateral must observe the regulatory limit applicable to the credit operation originally contracted. | https://www.bcb.gov.br/detalhenoticia/17133/nota | |||
463 | Brazil | 7/21/2020 | Action | Securities and Exchange Commission | Macroprudential Policy | Terminated Provisional Measure 928, reinstating the deadlines to the disadvantage of defendants in Sanctioning Administrative Proceedings, which were suspended pursuant to item I of CVM Resolution 848. | http://www.cvm.gov.br/noticias/arquivos/2020/20200721-2.html | |||
467 | Argentina | 7/21/2020 | Action | Banco Central de la Republica Argentina | Macroprudential Policy | Extended again, until August 2, 2020, the suspension of the summary exchange and financial proceedings instructed under the terms of the Foreign Exchange Penal Regime Laws No. 19,359 and Financial Entities No. 21,526, respectively, without prejudice to the validity of the procedural acts that are carried out in said period because the intervention of the accused is not necessary in them. | https://www.bcra.gob.ar/Noticias/Coronavirus-BCRA-prorroga-sumarios-financieros-al-2-agosto.asp | |||
499 | Mexico | 7/16/2020 | Action | National Commission of Insurance and Bonds | Macroprudential Policy | Suspended the deadlines for the care of institutions and people subject to supervision by the National Commission of Insurance and Bonds, due to the coronavirus called COVID-19. | https://www.gob.mx/cnsf/es/documentos/acuerdo-suspension-de-plazos-cnsf-dof-16-de-julio-de-2020?state=published | |||
529 | Brazil | 7/15/2020 | Action | Ministry of Economy | Macroprudential Policy | Announced the extension of the deadline for delivery of the Fiscal Accounting Bookkeeping (ECF), referring to the fiscal year of 2020, for the last working day of the month of September of this year. The measure was published in Normative Instruction RFB nº 1.965, of July 13, 2020. | https://www.gov.br/economia/pt-br/assuntos/noticias/2020/julho/receita-prorroga-para-setembro-prazo-para-entrega-da-escrituracao-contabil-fiscal | |||
543 | Brazil | 7/14/2020 | Action | Ministry of Economy | Macroprudential Policy | Temporarily suspended, from July 1 to December 31, 2020, the deadline for registration in the Integrated Foreign Trade System Services, Intangibles and Other Operations that Produce Variations in Equity (Siscoserv). | https://www.gov.br/economia/pt-br/assuntos/noticias/2020/julho/ministerio-da-economia-suspende-temporariamente-registro-no-siscoserv | |||
544 | Brazil | 7/14/2020 | Action | Federal Revenue Service (RFB), Attorney General's Office of the National Treasury (PGFN) | Macroprudential Policy | Extended the term of validity of Negative Debt Certificates (CND) and Positive Certificates with Negative Effects (CNEND) for another 30 days, both relating to federal tax credits and the Union's active debt. | https://www.gov.br/economia/pt-br/assuntos/noticias/2020/julho/receita-e-pgfn-prorrogam-por-mais-30-dias-prazo-de-validade-de-certidoes-conjuntas | |||
545 | Brazil | 7/14/2020 | Action | Ministry of Economy | Macroprudential Policy | Extended the terms of the proportional reduction of work and salary agreements and temporary suspension of the Benefit's employment contract. Emergency Preservation of Employment and Income (BEm). | https://www.gov.br/economia/pt-br/assuntos/noticias/2020/trabalho/julho/decreto-prorroga-por-ate-120-dias-prazos-dos-acordos-do-beneficio-emergencial | |||
695 | Mexico | 6/30/2020 | Action | National Commission of Insurance and Bonds | Macroprudential Policy | Agreed to the suspension of deadlines for the care of institutions and people subject to supervision by the National Commission of Insurance and Bonds, due to the coronavirus called COVID-19. | https://www.gob.mx/cnsf/es/articulos/acuerdo-suspension-de-plazos-cnsf-246979?idiom=es | |||
710 | Argentina | 6/30/2020 | Action | Banco Central de la Republica Argentina | Macroprudential Policy | Established a new extension, until July 17, 2020, of the suspension of the exchange and financial summary proceedings instructed in the terms of the Foreign Exchange Penal Regime Laws No. 19,359 and of Entities Financial No. 21,526, respectively, without prejudice to the validity of the procedural acts that are carried out in said period as the intervention of the accused is not necessary in them. | https://www.bcra.gob.ar/Noticias/Coronavirus-BCRA-prorroga-sumarios-financieros-julio.asp | |||
793 | Argentina | 6/25/2020 | Action | National Securities Commission | Macroprudential Policy | Extended the deadline for the presentation of the Interim and Annual Financial Statements (EECC), closing date May 31, 2020, and Intermediate EECC, closing date June 30, 2020, of all entities and investment instruments under controller of this organism. The measures were adopted within the framework of the social, preventive and mandatory isolation that has been in force since March 20, 2020, to confront the pandemic due to the COVID-19. | https://www.cnv.gov.ar/SitioWeb/Prensa/Post/1437/1437extension-de-la-ampliacion-del-plazo-de-presentacion-de-eecc-a-las-entidades-e-instrumentos-de-inversion-sujetos-al-control-de-la-cnv | |||
794 | Argentina | 6/25/2020 | Action | National Securities Commission | Macroprudential Policy | Extended the deadline for compliance with the obligation imposed by RG 816/19 to apply to all Obligatory Subjects in the area of Prevention of Money Laundering and Terrorism Financing. The measures were adopted within the framework of the social, preventive and mandatory isolation that has been in force since March 20, 2020 to confront the pandemic due to the COVID-19. | https://www.cnv.gov.ar/SitioWeb/Prensa/Post/1438/1438extension-del-plazo-para-las-presentaciones-de-sujetos-obligados-en-materia-de-prevencion-de-laft | |||
822 | Brazil | 6/24/2020 | Action | Banco Central do Brasil | Macroprudential Policy | Defined the conditions for the purchase of private assets in the secondary market, provided for in Constitutional Amendment (EC) No. 106, of May 7, 2020. Assets with credit risk equivalent to BB- or higher, deposited in a central depository, not convertible into shares and with a maturity of 12 months or more will be eligible. For carrying out the operations, the reference prices published by Anbima and B3 will be taken into account. In order to better control risk, there will be limits in the BC's portfolio per issuer, per series of assets in the market and in relation to the risk classes of the assets. | https://www.bcb.gov.br/detalhenoticia/17103/nota | |||
847 | China | 6/23/2020 | Action | China Banking and Insurance Regulatory Commission | Macroprudential Policy | Issued the "Notice on Hubei Province Insurance Legal Institutions and Branches Exempted from Paying Insurance Insurance Funds for 2020," which exempts insurance institutions based in Hubei Province from paying protection fees in light of Covid-19. | http://www.cbirc.gov.cn/cn/view/pages/ItemDetail.html?docId=911621&itemId=915 | |||
848 | Brazil | 6/23/2020 | Action | Banco Central do Brasil | Macroprudential Policy | Reduced the Risk Weighting Factor (FPR) from 50% to 35% for time deposits with special guarantee (DPGE) exposures when the depositor is an institution associated with the Credit Guarantee Fund (FGC). The DPGE is a time deposit guaranteed by the FGC and aims to ensure liquidity for smaller institutions in an environment with greater risk aversion. | https://www.bcb.gov.br/detalhenoticia/17105/nota | |||
849 | Brazil | 6/23/2020 | Action | Banco Central do Brasil | Macroprudential Policy | Decided to admit the balance of credit operations for financing working capital for companies with annual sales of up to BRL 50 million, contracted from June 29 to December 31, 2020, as a deduction from the compulsory reserve requirement on savings deposit resources, for a period of three years. | https://www.bcb.gov.br/detalhenoticia/17104/nota | |||
851 | Brazil | 6/23/2020 | Action | Ministry of Economy | Macroprudential Policy | Published in the Official Gazette (DOU), Ordinance 14.782 / 2020, which regulates the procedures for filing an administrative appeal against an embargo or interdiction in essential activities. | https://www.gov.br/economia/pt-br/assuntos/noticias/2020/junho/portaria-disciplina-procedimentos-relativos-ao-recurso-a-embargo-em-atividades-essenciais | |||
854 | Argentina | 6/23/2020 | Action | Central Bank of Argentina | Macroprudential Policy | Extended until December 31, 2020, through Decree 544/2020, the suspension of the closure of bank accounts and the disqualification established in article 1 of Law No. 25,730. The BCRA also extended the period in which entities cannot charge punitive interest on the unpaid amounts of credits granted. | https://www.bcra.gob.ar/Noticias/coronavirus-bcra-funcionamiento-sistema-financiero-junio.asp | |||
877 | Mexico | 6/21/2020 | Action | National Banking and Securities Commission | Macroprudential Policy | Authorized, on a temporary basis, regulatory flexibilities regarding non-face-to-face identification for financial institutions. | https://www.gob.mx/cnbv/prensa/45-2020-facilidades-regulatorias-en-materia-de-identificacion-no-presencial-para-instituciones-de-credito?idiom=es | |||
886 | Argentina | 6/20/2020 | Action | National Securities Commission (CNV) | Macroprudential Policy | Approved General Resolution No. 843/2020, which allows for, among other provisions,the negotiation and liquidation of operations in local currency of Negotiable Securities issued in the Argentine Republic. | https://www.cnv.gov.ar/SitioWeb/Prensa/Post/1436/1436la-cnv-dispuso-una-serie-de-medidas-de-ordenamiento-del-mercado-de-capitales-local | |||
919 | Brazil | 6/19/2020 | Action | National Treasury | Macroprudential Policy | Updated the Manual for Instruction of Claims (MIP), with the objective of including specific guidelines and procedures related to credit operations under Complementary Law No. 173/2020, which established the Federative Program to Confront Coronavirus (covid -19) and brought important changes to the Fiscal Responsibility Law (LRF). | https://www.gov.br/economia/pt-br/assuntos/noticias/2020/junho/tesouro-atualiza-o-manual-para-instrucao-de-pleitos-e-inclui-orientacoes-relacionadas-a-ajuda-contra-a-covid-19 | |||
937 | China | 6/18/2020 | Action | Ministry of Commerce | Macroprudential Policy | Released a new set of measures designed to ease restrictions on foreign investment in listed Chinese firms. Among other changes, the minimum asset threshold that foreign investors must meet in order to invest in Chinese A-shares has been greatly reduced. | http://www.mofcom.gov.cn/article/jiguanzx/202006/20200602975158.shtml?mc_cid=d39f41e855&mc_eid=f98fa0bacc | |||
939 | Brazil | 6/18/2020 | Action | Ministry of Economy | Macroprudential Policy | Released Normative Instruction RFB nº 1,960, which reduced by 50% the industrialization and export indices required to benefit from special customs regimes Recof and Recof-Sped. In addition, in the case of goods admitted between on January 1, 2019 and December 31, 2020, it was also proposed that the term of validity of the regimes, or their extension, be increased by one year. | https://www.gov.br/economia/pt-br/assuntos/noticias/2020/junho/receita-reduz-efeitos-economicos-da-pandemia-para-beneficiarios-de-regimes-aduaneiros-especiais | |||
983 | Brazil | 6/17/2020 | Action | The National Institute of Social Security (INSS) | Macroprudential Policy | Extended the deadline for beneficiaries to fulfill filing requirements with the agency for another 60 days. The measure appears in Ordinance 680, published in the Official Gazette (DOU) and aims to preserve benefits while the public health emergency decree resulting from the coronavirus pandemic is in force. | https://www.gov.br/economia/pt-br/assuntos/noticias/2020/junho/inss-prorroga-por-60-dias-prazo-de-procedimentos-para-evitar-bloqueio-de-pagamentos | |||
1200 | Brazil | 6/9/2020 | Action | Ministry of Economy | Macroprudential Policy | Established new procedures for the payment of fines from administrative contracts applied to federal government suppliers, thus enabling the supplier to request installment payments, clearing, and postponement of charges for 2021. Companies can request installment payment plans of up to 12 months, with minimum payments of BRL 500.00, to be adjusted by monthly Selic rate. | https://www.gov.br/economia/pt-br/assuntos/noticias/2020/junho/empresarios-poderao-parcelar-multas-aplicadas-pelo-governo | |||
1263 | Argentina | 6/5/2020 | Action | National Securities Commission | Macroprudential Policy | Extended the deadline for the presentation of the Interim and Annual Financial Statements (EECC) with a closing date of April 30, 2020 of all entities subject to the agency's control. | https://www.cnv.gov.ar/SitioWeb/Prensa/Post/1435/1435la-cnv-extendio-el-plazo-de-presentacion-de-los-eecc-intermedios-y-anuales-con-cierre-30042020 | |||
1279 | China | 6/4/2020 | Action | Ministry of Finance, People's Bank of China | Macroprudential Policy | Granted the time-limited deferment of principals of inclusive loans issued to micro and small businesses (MSBs) due before end-2020 and for accrued interest of inclusive MSB loans existing before end-2020, o enterprises upon their applications, extending the repayment date to as late as March 31, 2021, and waiving any penalty interest. For other loans issued to micro-, small and medium-sized enterprises (MSMEs) due before end-2020 and loans to enterprises facing particular difficulties, such as large-sized enterprises (foreign trade enterprises) along the international supply chain, the enterprises and banking financial institutions may discretionarily negotiate on the deferment of loan principal and interest repayments. | http://www.mof.gov.cn/zhengwuxinxi/caizhengxinwen/202006/t20200604_3526281.htm | |||
1280 | China | 6/4/2020 | Action | Ministry of Finance, People's Bank of China | Macroprudential Policy | Adopted a special purpose tool to give the local corporate bank an extension of 1% of the principal of the inclusive small and micro loan as an incentive to further defer payments | http://www.mof.gov.cn/zhengwuxinxi/caizhengxinwen/202006/t20200604_3526281.htm | |||
1281 | China | 6/4/2020 | Action | Ministry of Finance, People's Bank of China | Macroprudential Policy | Allow extensions and deferment under Pratt & Whitney small and medium loan principal due between June 1 and December 31, 2020 and interest payable on the Pratt & Whitney small and micro loans from June 1 to December 31, 2020 up to March 31, 2021 | http://www.mof.gov.cn/zhengwuxinxi/caizhengxinwen/202006/t20200604_3526281.htm | |||
1357 | China | 6/2/2020 | Action | People's Bank of China, China Banking Regulatory Commission, Ministry of Finance, Development and Reform Commission, Ministry of Industry and Information Technology | Macroprudential Policy | Established the the Pratt & Whitney small and micro enterprise credit loan support plan. Instructed banks to increase the allocation of credit resources to small and micro enterprises, optimize the risk assessment mechanism, focus on reviewing the first source of repayment, reduce the dependence on mortgage guarantees, and support more small and micro enterprises to obtain pure credit without mortgages and guarantees. Loan support will ensure that the proportion of inclusive small and micro credit loans will increase significantly in 2020. | http://www.mof.gov.cn/zhengwuxinxi/caizhengxinwen/202006/t20200602_3524317.htm | |||
1358 | Brazil | 6/2/2020 | Action | Banco Central do Brasil | Macroprudential Policy | Decided to maintain the Countercyclical Principal Capital Additional for Brazil (ACCPBrasil) at 0% and will keep ACCPBrasil at 0% for at least one year, which means that amounts related to ACCPBrasil will not be required for at least two years | https://www.bcb.gov.br/detalhenoticia/17088/nota | |||
1373 | Mexico | 6/1/2020 | Action | National Commission of Insurance and Bonds | Macroprudential Policy | Suspending deadlines for the care of institutions and people subject to supervision by the National Commission of Insurance and Bonds, due to the coronavirus called COVID-19. | https://www.gob.mx/cnsf/es/articulos/acuerdo-suspension-de-plazos-cnsf-244144?idiom=es | |||
1390 | China | 5/31/2020 | Action | Ministry of Finance, People’s Bank of China, China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission, State Administration of Foreign Exchange | Macroprudential Policy | Will introduce Measures for the Regulatory Assessment of Commercial Banks’ Financial Services for Micro and Small Enterprises to improve the incentive and restraint mechanism for the provision of financial services for micro and small enterprises (MSEs). | http://www.pbc.gov.cn/en/3688110/3688172/4031291/index.html | |||
1391 | China | 5/31/2020 | Action | Ministry of Finance, People’s Bank of China, China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission, State Administration of Foreign Exchange | Macroprudential Policy | Will release the Work Plan for Deepening the Reform and Replenishing the Capital of Small and Medium-sized Banks will be released to further push ahead with the reform of small and medium-sized banks and to speed up their capital replenishment | http://www.pbc.gov.cn/en/3688110/3688172/4031291/index.html | |||
1392 | China | 5/31/2020 | Action | Ministry of Finance, People’s Bank of China, China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission, State Administration of Foreign Exchange | Macroprudential Policy | Will release the Guidelines on Performance Appraisal of Government-backed Financing Guarantee and Re-guarantee Institutions. It is aimed at prompting government-backed financing guarantee institutions at all levels to prioritize support for MSEs and the agricultural sector and to lower the guarantee fees, so that they will fully play their role in risk sharing and help enterprises resume production and pull through the difficulties | http://www.pbc.gov.cn/en/3688110/3688172/4031291/index.html | |||
1393 | China | 5/31/2020 | Action | Ministry of Finance, People’s Bank of China, China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission, State Administration of Foreign Exchange | Macroprudential Policy | Introducing Four regulations, such as the Administrative Measures for Registration-based Initial Public Offerings on ChiNext (For Trial Implementation), and eight major rules, such as the Rules for the Listing of Stocks on ChiNext, will be introduced. They are aimed at advancing the reform of the ChiNext board, launching the pilot registration-based system, and establishing or improving the supporting rules, such as those for the arrangements of the registration-based system, ongoing supervision over ChiNext-listed enterprises, and the sponsorship of offerings on ChiNex | http://www.pbc.gov.cn/en/3688110/3688172/4031291/index.html | |||
1394 | China | 5/31/2020 | Action | Ministry of Finance, People’s Bank of China, China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission, State Administration of Foreign Exchange | Macroprudential Policy | Will release Guidelines on Companies Listed on the National Equities Exchange and Quotations Switching Boards for Listing to accelerate the reform of the so-called “new third board”. Active but prudent steps will be taken to launch public offerings, while qualified enterprises will enter the selected tier, and investments by publicly offered funds will be allowed | http://www.pbc.gov.cn/en/3688110/3688172/4031291/index.html | |||
1395 | China | 5/31/2020 | Action | Ministry of Finance, People’s Bank of China, China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission, State Administration of Foreign Exchange | Macroprudential Policy | Will introduce Administrative Measures for Standardized Commercial Papers to regulate the mechanism of financing via standardized commercial papers | http://www.pbc.gov.cn/en/3688110/3688172/4031291/index.html | |||
1396 | China | 5/31/2020 | Action | Ministry of Finance, People’s Bank of China, China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission, State Administration of Foreign Exchange | Macroprudential Policy | Will release Rules for the Recognition of Standard Debt Assets to implement the requirements of the new regulations on asset management | http://www.pbc.gov.cn/en/3688110/3688172/4031291/index.html | |||
1397 | China | 5/31/2020 | Action | Ministry of Finance, People’s Bank of China, China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission, State Administration of Foreign Exchange | Macroprudential Policy | Will release Guidelines on the Participation of Foreign Governmental Agencies and International Development Institutions in Bond Businesses, which will further improve the requirements for information disclosures of panda bonds, set detailed rules for the issuance of panda bonds, and encourage issuers with authentic needs for RMB funds to issue bonds in an effort to steadily promote the development of the panda bond market | http://www.pbc.gov.cn/en/3688110/3688172/4031291/index.html | |||
1398 | China | 5/31/2020 | Action | Ministry of Finance, People’s Bank of China, China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission, State Administration of Foreign Exchange | Macroprudential Policy | Efforts will be made to further open up the credit rating sector to both domestic and foreign agencies, allowing qualified international rating agencies as well as private rating agencies to conduct bond credit ratings in China and also encouraging domestic rating agencies to expand their international business | http://www.pbc.gov.cn/en/3688110/3688172/4031291/index.html | |||
1399 | China | 5/31/2020 | Action | Ministry of Finance, People’s Bank of China, China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission, State Administration of Foreign Exchange | Macroprudential Policy | Will provide guidance to the certified public accountant (CPA) industry to pursue well-regulated and orderly development | http://www.pbc.gov.cn/en/3688110/3688172/4031291/index.html | |||
1400 | China | 5/31/2020 | Action | Ministry of Finance, People’s Bank of China, China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission, State Administration of Foreign Exchange | Macroprudential Policy | Will introduced Opinions on Strengthening Administrative Penalties for Illegal Financial Conduct. Based on the current legal framework and in line with the principle that penalties should be commensurate with the gravity of the offense, the Opinions specifies the criteria for imposing penalties per incident on financial institutions for illegal conduct and the criteria for determining illegal gains | http://www.pbc.gov.cn/en/3688110/3688172/4031291/index.html | |||
1437 | Brazil | 5/29/2020 | Action | Ministry of Economy | Macroprudential Policy | Allowing the withdrawal-anniversary of the Severance Pay Fund (FGTS) may be used as payment or guarantee for loans contracted with financial institutions. | https://www.gov.br/economia/pt-br/assuntos/noticias/2020/maio/saque-aniversario-podera-ser-usado-como-garantia-para-contratacao-de-emprestimos | |||
1438 | Brazil | 5/29/2020 | Action | Banco Central do Brasil | Macroprudential Policy | Decided to extend until December 2020 the prohibitions established by Resolution 4,797, of April 6, 2020, which include, in addition to the restriction on the payment of dividends above the mandatory minimum, the increase in the remuneration of senior management, the repurchase of shares and the reduction of share capital. | https://www.bcb.gov.br/detalhenoticia/17085/nota | |||
1439 | Brazil | 5/29/2020 | Action | Banco Central do Brasil | Macroprudential Policy | Decided to allow financial institutions to release the funds related to real estate financing contracted until September 30 this year, from the date of the constitutive title of the guarantee in the competent real estate registry offices. The regulation temporarily changes the current rule, which determined that this release could only be effective after the guarantee was constituted, which only occurs after its registration with the notary. | https://www.bcb.gov.br/detalhenoticia/17085/nota | |||
1443 | Argentina | 5/29/2020 | Action | Central Bank of Argentina | Macroprudential Policy | Raised the minimum rate to remunerate deposits in fixed terms to the equivalent of 79% of the Leliq monetary policy rate, which must be offered by Group A financial entities as of June 1, 2020, representing almost the entire system | https://www.bcra.gob.ar/Noticias/aumento-tasa-minima-plazos-fijos-79-por-ciento.asp | |||
1444 | Argentina | 5/29/2020 | Action | Central Bank of Argentina | Macroprudential Policy | Expanded the possibility for agricultural producers to make deposits at a variable rate, linked to the price of the dollar. This option is added to the existing ones tied to the prices of cereals and oilseeds. The possibility of accessing these deposits at a variable rate is for people with agricultural activity and for an amount of up to 2 times the total value of their sales of cereals and / or oilseeds registered since November 1, 2019. | https://www.bcra.gob.ar/Noticias/aumento-tasa-minima-plazos-fijos-79-por-ciento.asp | |||
1475 | Argentina | 5/28/2020 | Action | Central Bank of Argentina | Macroprudential Policy | Ordered that companies that have liquid assets originated in the formation of external assets must first have these resources to pay obligations abroad | https://www.bcra.gob.ar/Noticias/cambios-acceso-empresas-mercado-cambios-mulc.asp | |||
1476 | Argentina | 5/28/2020 | Action | Central Bank of Argentina | Macroprudential Policy | Extended the restriction to carry out the purchase and sale of public securities in local currency with settlement in foreign currency to 90 days prior and 90 days after, for companies that require access to the official exchange market. | https://www.bcra.gob.ar/Noticias/cambios-acceso-empresas-mercado-cambios-mulc.asp | |||
1477 | Argentina | 5/28/2020 | Action | Central Bank of Argentina | Macroprudential Policy | Established new measures for the access of companies to the Single and Free Exchange Market (MULC) in order to order the payment of obligations for the importation of goods. Companies must request prior authorization from the BCRA to access the exchange market for the payment of commercial obligations abroad if they reduced the amount in force as of January 1, 2020. | https://www.bcra.gob.ar/Noticias/cambios-acceso-empresas-mercado-cambios-mulc.asp | |||
1515 | Brazil | 5/27/2020 | Action | Ministry of the Economy | Macroprudential Policy | Expanded the list of products that will have import dispatch carried out in a priority manner to help fight the pandemic caused by the new coronavirus (Covid-19), this includes hospital stretchers and equipment for performance testing of artificial respirators, in addition to a series of new drugs. | https://www.gov.br/economia/pt-br/assuntos/noticias/2020/maio/receita-amplia-lista-de-produtos-que-terao-despacho-aduaneiro-prioritario | |||
1517 | Argentina | 5/27/2020 | Action | Central Bank of Argentina | Macroprudential Policy | Ordered a new extension, until June 7, 2020, of summary exchange and financial proceedings instructed under the terms of the Foreign Exchange Penal Regime Laws No. 19,359 and of Financial Entities N ° 21,526 | https://www.bcra.gob.ar/Noticias/Coronavirus-BCRA-prorroga-sumarios-financieros-junio.asp | |||
1575 | China | 5/25/2020 | Action | The People’s Bank of China, China Banking and Insurance Regulatory Commission | Macroprudential Policy | Postponed the law-based disposal of Baoshang Bank due to the disruptions caused by the COVID-19 outbreak. According to Article 67 of the Law of the People’s Republic of China on Commercial Banks, upon the approval of the CBIRC, the original timeline for completion of the takeover will be extended by six months to November 23, 2020 from May 24, 2020 | http://www.pbc.gov.cn/en/3688110/3688172/4027727/index.html http://www.cbirc.gov.cn/cn/view/pages/ItemDetail.html?docId=906042&itemId=915 | |||
1579 | Argentina | 5/25/2020 | Action | Ministry of Labor, Employment, and Social Security | Macroprudential Policy | Established through that the National Social Security Administration (ANSES and the National Registry of Rural Workers and Employers ( RENATRE)) are authorized to implement a virtual route that allows carry out the procedures related to the application, access, option of payment method and suspension of unemployment benefits during the health emergency | https://www.argentina.gob.ar/noticias/el-ministerio-de-trabajo-empleo-y-seguridad-social-autoriza-anses-y-renatre-establecer-una | |||
1580 | Argentina | 5/25/2020 | Action | National Securities Commission | Macroprudential Policy | Established a minimum holding period of 5 business days - counted from its accreditation with the Central Depositary Agent of Negotiable Securities - as a requirement to carry out VN operations with settlement in foreign currency, and to make your transfers to depository entities abroad. | https://www.cnv.gov.ar/SitioWeb/Prensa/Post/1432/1432determinacion-de-plazo-de-permanencia-para-la-liquidacion-de-titulos-publicos | |||
1627 | China | 5/22/2020 | Proposal | Ministry of Finance | Macroprudential Policy | Circulated proposed draft of accounting procedures in order to standardize the accounting treatment of rent concessions related to the New Coronary Pneumonia epidemic and to meet the need for continued convergence with IFRS | http://kjs.mof.gov.cn/gongzuotongzhi/202005/t20200522_3518638.htm | |||
1630 | Brazil | 5/22/2020 | Action | Ministry of Economy | Macroprudential Policy | Extended remote assistance, until June 19, to Social Security agencies, beneficiaries and beneficiaries of the Institute. National Social Security (INSS). The measure aims to protect the community during the period of coping with the public health emergency resulting from the coronavirus pandemic. | https://www.gov.br/economia/pt-br/assuntos/noticias/2020/maio/portaria-prorroga-atendimento-remoto-nas-agencias-da-previdencia-social-ate-19-de-junho | |||
1801 | Brazil | 5/18/2020 | Action | Superintendence of Complementary Social Security | Macroprudential Policy | Sent Circular Letter 3/2020 to all closed social security entities (EFPC), requesting information regarding the measures being taken to face the adversities arising from the State of Public calamity, by filling in the electronic form | http://www.previc.gov.br/central-de-conteudos/Noticias/previc-lanca-formulario-de-acompanhamento-dos-impactos-da-crise-covid-19-na-gestao-das-efpc | |||
1807 | Argentina | 5/18/2020 | Action | Government of Argentina, Ministry of Labor, Employment and Social Security | Macroprudential Policy | Established the extension of the prohibition of making dismissals and suspensions without just cause, and for the reasons of lack or reduction of work and force majeure, for a period of 60 days | https://www.boletinoficial.gob.ar/detalleAviso/primera/229469/20200519 https://www.argentina.gob.ar/noticias/el-gobierno-nacional-prorroga-por-60-dias-la-prohibicion-de-despidos | |||
1836 | China | 5/16/2020 | Action | China Securities Regulatory Commission | Macroprudential Policy | Announced that it will make regulatory arrangements for the performance commitment requirements and adjustment of restructuring plans for listed companies that are indeed affected by the epidemic | http://www.gov.cn/xinwen/2020-05/16/content_5512106.htm | |||
1838 | Argentina | 5/16/2020 | Action | Ministry of Productive Development | Macroprudential Policy | Mandated that Telecentro company must reimburse its customers for the "Football Pack" payments collected in April; after the ex officio intervention of the Undersecretariat of Actions for the Defense of Consumers (SSADC) | https://www.argentina.gob.ar/noticias/telecentro-debera-reintegrar-montos-por-pack-futbol | |||
1875 | China | 5/15/2020 | Action | People's Bank of China | Macroprudential Policy | Lowered the Required Reserve Ratio (RRR) by 0.5 percentage points for rural credit cooperatives, rural commercial banks, rural cooperative banks, village banks, as well as city commercial banks operating solely within provincial-level administrative regions, which is the second of the two targeted reductions of 0.5 percentage points each | http://www.pbc.gov.cn/en/3688110/3688181/4024042/index.html | |||
1898 | Mexico | 5/14/2020 | Action | National Banking and Stock Commission | Macroprudential Policy | Authorized, on a temporary basis, Special Accounting Registers applicable to the National Financial Development Agency for Agriculture, Livestock, Forestry and Fisheries, regarding credits that have with clients whose payment source is affected by this contingency. | https://www.gob.mx/cnbv/prensa/37-2020-registros-contables-especiales-aplicables-a-la-financiera-nacional-de-desarrollo-fnd-ante-la-contingencia-sanitaria?idiom=es | |||
1923 | Brazil | 5/14/2020 | Action | Securities and Exchange Commission | Macroprudential Policy | Edited CVM Instruction 625, 5/14/2020 , which regulates the holding of digital meetings by holders of debentures, promissory notes and certificates of real estate or agribusiness receivables | http://www.cvm.gov.br/noticias/arquivos/2020/20200514-1.html | |||
1951 | Mexico | 5/13/2020 | Action | National Banking and Stock Commission | Macroprudential Policy | Issued, on a temporary basis, the Special Accounting Criteria applicable to general warehouses of deposit, with respect to commercial credits that they have with customers whose payment source is affected by this contingency | https://www.gob.mx/cnbv/prensa/36-2020-criterios-contables-especiales-aplicables-a-los-almacenes-generales-de-deposito?idiom=es | |||
1978 | Brazil | 5/13/2020 | Action | Securities and Exchange Commission | Macroprudential Policy | Issued CVM Instruction 624, which alters CVM Instruction 607, which provides for the procedure regarding sanctioning actions within the scope of the Autarchy. The purpose of the amendment to the standard is to enable the delivery of the proposed Administrative Agreement in the Supervision process through electronic correspondence, as part of the measures adopted in response to the Covid-19 (coronavirus) pandemic. | http://www.cvm.gov.br/noticias/arquivos/2020/20200513-3.html | |||
1979 | Brazil | 5/13/2020 | Action | Ministry of Economy | Macroprudential Policy | Extended the deadline for the transmission of Digital Bookkeeping (ECD) for the calendar year 2019 to July 31. The measure responds to requests from class entities in the accounting area, who say they are having difficulties in carrying out their activities due to restrictions resulting from the coronavirus pandemic | https://www.gov.br/economia/pt-br/assuntos/noticias/2020/maio/receita-federal-adia-para-31-de-julho-o-prazo-para-entrega-da-escrituracao-contabil-digital | |||
1981 | Argentina | 5/13/2020 | Action | National Securities Commission | Macroprudential Policy | Introduced a measure that allows the stock to be conserved and renewed. And, at the same time, it maintains the requirement regarding the flow of new investments that must be directed to instruments issued in pesos. Income coupons and amortization of the issues that are maturing may also be reinvested | https://www.cnv.gov.ar/SitioWeb/Prensa/Post/1429/1429cosentino-vamos-a-promover-todas-las-normas-necesarias-para-aportar-al-financiamiento-genuino-de-la-economia | |||
2033 | Argentina | 5/12/2020 | Action | Central Bank of Argentina | Macroprudential Policy | Required Banks to refund fees associated with the National Social Security Administration (ANSES) and Emergency Family Income (IFE) benefit any type of concept, be it by concerted operations with the paying financial institution itself or with third parties, such as loan installments granted with or without a discount code, commissions or charges for additional services to the account contracted by the beneficiary, automatic debits for the payment of taxes, services and other concepts, etc | https://www.bcra.gob.ar/Noticias/Coronavirus-BCRA-reintegros-debitos-ife.asp | |||
2034 | Argentina | 5/12/2020 | Action | Central Bank of Argentina | Macroprudential Policy | Established a new extension, until May 24, 2020, of the suspension of the exchange and financial summary proceedings instructed in the terms of the Foreign Exchange Penal Regime Laws No. 19,359 and of Financial Entities No. 21,526 | https://www.bcra.gob.ar/Noticias/Coronavirus-BCRA-prorroga-sumarios-financieros-mayo-2.asp | |||
2129 | Argentina | 5/8/2020 | Action | National Securities Commission | Macroprudential Policy | Reported that fitness tests are suspended in all countries as long as the social, preventive and mandatory isolation measures in place to deal with the pandemic due to the COVID-19 coronavirus continue | https://www.cnv.gov.ar/SitioWeb/Prensa/Post/1427/1427mientras-continuen-las-medidas-de-aislamiento-se-mantendran-suspendidos-los-examenes-de-idoneidad-de-cnv | |||
2167 | Argentina | 5/7/2020 | Proposal | Central Bank of Argentina | Macroprudential Policy | Studying whether to allow banks that invest in Negotiable Obligations issued by companies in the capital market to use them as liquidity instruments for the creation of reserve requirements before the BCRA | https://www.bcra.gob.ar/Noticias/reunion-bcra-UIA.asp | |||
2168 | Argentina | 5/7/2020 | Action | Central Bank of Argentina | Macroprudential Policy | Developed the Conformed Invoice as a credit instrument to discount in financial entities or the capital market | https://www.bcra.gob.ar/Noticias/reunion-bcra-UIA.asp | |||
2250 | Mexico | 5/4/2020 | Action | National Commission of Insurance and Bonds | Macroprudential Policy | Suspending deadlines for the care of institutions and people subject to supervision by the National Commission of Insurance and Bonds, due to the coronavirus called COVID-19. | https://www.gob.mx/cnsf/es/articulos/acuerdo-suspension-de-plazos-cnsf-241531?idiom=es | |||
2358 | Brazil | 4/30/2020 | Action | Banco Central do Brasil | Macroprudential Policy | Temporarily reduced the capital requirement for the institutions of Segment 5 (S5), which are the smaller ones and have a simplified risk profile. The percentages to be applied to the amount of risk-weighted assets in a simplified form (RWA S5 ) for purposes of calculating the minimum requirement for Simplified Reference Equity (PR S5 ) will be reduced for a year from 12% to 10.5%, to individual credit unions, and from 17% to 15%, for other institutions. The Resolution provides for a gradual return schedule to the original values, which will be reestablished in May 2022 | https://www.bcb.gov.br/detalhenoticia/17062/nota | |||
2359 | Brazil | 4/30/2020 | Action | Banco Central do Brasil | Macroprudential Policy | Improved the rules that deal with the maximum exposure limit per client and the maximum limit of concentrated exposures (LEC) for institutions that are part of the same cooperative credit system. With the decision, the exemption for LEC purposes currently applicable to transfers between institutions of the same cooperative system intended for financing to members was extended to transfers intended for loans, that is, for operations with generally shorter terms. In addition, in operations in which the funds are allocated directly by a cooperative bank, central cooperative or confederation to a member of the system, with the guarantee of the singular cooperative, that member is recognized as a counterparty for the purposes of LEC, instead of the cooperative that provided the warranty | https://www.bcb.gov.br/detalhenoticia/17062/nota | |||
2360 | Brazil | 4/30/2020 | Action | Banco Central do Brasil | Macroprudential Policy | Decided to increase from US $100 thousand to US $300 thousand the value of foreign exchange transactions carried out by securities and securities brokerage companies, securities and real estate distributors and exchange brokerage firms authorized to operate in the market exchange rate. As well as reduce the limit for foreign exchange transactions carried out through foreign exchange correspondents from US $3 thousand to US $1 thousand, in which both foreign currency and reals are delivered in cash and introduced other improvements in the rules of these operations. The change in the limit of foreign exchange transactions carried out at foreign exchange correspondents will only take effect on July 1, 2020 | https://www.bcb.gov.br/detalhenoticia/17062/nota | |||
2361 | Brazil | 4/30/2020 | Action | Banco Central do Brasil | Macroprudential Policy | Relaxed rules related to rural credit operations to adapt them to the social distance measures adopted to mitigate the impacts of the pandemic caused by Covid-19. In general, the changes allow the temporary waiving of some requirements normally required in these operations, such as registration of documents in a notary, delivery of invoices and face-to-face inspection of rural properties | https://www.bcb.gov.br/detalhenoticia/17062/nota | |||
2362 | Brazil | 4/30/2020 | Action | Banco Central do Brasil | Macroprudential Policy | Authorized credit, financing and investment (financial) companies to issue Bank Deposit Certificates (CDBs) | https://www.bcb.gov.br/detalhenoticia/17062/nota | |||
2363 | Brazil | 4/30/2020 | Action | Banco Central do Brasil | Macroprudential Policy | Decided to postpone to November 3, 2020 the entry into force of the new regulation on the registration of payment card receivables. Also decided to extend the implementation schedule for one year for the application of a bilateral guarantee margin in operations with over-the-counter derivative financial instruments | https://www.bcb.gov.br/detalhenoticia/17062/nota | |||
2369 | Argentina | 4/30/2020 | Action | National Administration for Social Security | Macroprudential Policy | Extends to its affiliates the grace period for the payment of installments of credits in force during the month of June | https://www.boletinoficial.gob.ar/detalleAviso/primera/228512/20200501 | |||
2370 | Argentina | 4/30/2020 | Action | Central Bank of Argentina | Macroprudential Policy | Requiring that companies that access credit lines with subsidized rates and those that carry out purchase-sale operations of securities with settlement in foreign currency will have to request the prior consent of the Central Bank to access the Single Market and Free of Exchange for the acquisition of foreign exchange | https://www.bcra.gob.ar/Noticias/coronavirus-bcra-empresas-mercado-cambios.asp | |||
2371 | Argentina | 4/30/2020 | Action | National Government | Macroprudential Policy | Extended until June 30 including the suspension of the application of fines and the closing and disabling of bank accounts due to the rejection of checks due to lack of funds | https://www.boletinoficial.gob.ar/detalleAviso/primera/228497/20200501 | |||