Following are the latest measures taken by governments to limit damage from the global financial crisis:
* ITALY – Italy said it was readying a new plan to guarantee the debts of companies in distress, an Italian newspaper said. Under the plan, the Italian state will guarantee the loans of troubled companies that are unable to secure financing from banks. Italy has said it would make more than 20 billion euros ($27 billion) available to shore up banks.
* NETHERLANDS – On Sunday the Netherlands agreed to pump some 10 billion euros into ING, the country's largest listed bank. Together with the 16.8 billion euros for the partial nationalisation of Fortis, the Netherlands has now spent nearly 5 percent of the country's gross domestic product to help banks. * SOUTH KOREA – South Korea on Sunday unveiled a rescue package worth over $130 billion, offering state guarantees on foreign debt and promising to recapitalise financial firms.
* SWEDEN – Sweden outlined a plan worth more than 1.5 trillion crowns ($271.5 billion) that would include credit guarantees and a bail-out fund.
* UNITED ARAB EMIRATES – The UAE will start injecting 20-25 billion dirhams ($5.45-6.81 billion) into banks in the Gulf Arab state by the end of the week, a newspaper reported on Monday. The funds, part of a government plan announced earlier this month to inject 70 billion dirhams ($19.06 billion) into banks, would be proportionate to bank assets.
OTHER RECENT GOVERNMENT MOVES:
* AUSTRIA – Austria has said it will provide up to 85 billion euros ($114 billion) in guarantees and up to 15 billion euros ($20 billion) in equity to support its banks, besides giving an unlimited guarantee on bank deposits of savers.
* AUSTRALIA – The Reserve Bank of Australia (RBA) injected A$2.63 billion ($1.8 billion) into the banking system. The RBA provided banks with funding for up to a year, extending the length of loans.
* BRITAIN – Britain offered up 37 billion pounds ($64 billion) of taxpayers' cash to recapitalise three major banks — Royal Bank of Scotland, HBOS and Lloyds TSB — in a move that could make the government their main shareholder.
* BULGARIA – Bulgaria said it would raise the minimum bank deposit guarantee to 100,000 levs ($70,180), or 50,000 euros, from 40,000 levs.
* CYPRUS – Cyprus raised its guarantee scheme for bank deposits to 100,000 euros ($136,300) from 20,000 euros.
* EUROPEAN UNION – European Union finance ministers agreed to guarantee bank deposits of up to 50,000 euros ($67,930), compared with 20,000 euros under current rules.
* FRANCE – France has said it would create two funding vehicles with up to 320 billion euros ($429 billion) to guarantee bank lending and 40 billion euros ($54 billion) to provide capital to banks in need. It would also set up a legal body so the state could intervene swiftly to acquire stakes in banks that ran into trouble.
* GERMANY – Germany has presented a rescue package that will provide 400 billion euros ($543 billion) in bank guarantees and a further 100 billion euros ($134 billion) in state funds to recapitalise its banks.
* GREECE – Greece introduced legislation in parliament to raise the guarantee on bank deposits to 100,000 euros ($136,900) for three years.
* ICELAND – Iceland took over Kaupthing, Landsbanki, and Glitnir to save the domestic banking system.
* INDONESIA – Indonesia raised its guarantee on bank deposits to head off a run on lenders and eased central bank rules so as to provide more liquidity.
* NORWAY – Norway has introduced measures to boost its banks' liquidity including plans for up to 350 billion crowns ($57 billion) in new government bonds.
* PORTUGAL – Portugal will offer a credit line worth 20 billion euros ($27.5 billion) to guarantee the liquidity of its banks.
* QATAR – Qatar has launched a $5.3 billion plan to purchase bank shares.
* RUSSIA – Russia said last week it has already spent $5.5 billion bailing out banks, which are due to get $36 billion as part of the state's total $210 billion rescue package for the financial sector. The bulk of the money is due to flow via VEB, and state-run listed Sberbank and VTB.
* SAUDI ARABIA – Saudi Arabia has cut its key lending rate by 0.5 percentage points to 5 percent for the first time in nearly two years to give increased liquidity to its banks and cut their reserve requirements.
* SPAIN – Spain passed laws to guarantee bank debt issued up to the end of 2009 with maturities up to a maximum of five year.
* SWITZERLAND – Switzerland last week injected 6 billion Swiss francs ($5.30 billion) into UBS, the biggest Swiss bank, in return for a 9.3 percent shareholding.
* TAIWAN – State-run Bank of Taiwan cut its savings and deposit rates by 10 to 39 basis points after the central bank cut its benchmark discount rate to support economic growth during the crisis.
