Estonia

Adoption date

Type of measure

Beneficiaries' sector specification

Description of measure

27/03/2020

Public guarantees

Non-financial corporations

Loan guarantees for already issued bank loans to NFCs.

15/04/2020

Public guarantees

Non-financial corporations

Loan guarantees for rural and agricultural businesses.

15/04/2020

Direct grants

Non-financial corporations

Compensation for the direct costs of cultural and sporting events and other activities cancelled due to coronavirus in March-April.

15/04/2020

Tax reliefs

All non-financial sector

Reduction of interest rate payable of tax debt and lower interest rate when rescheduling tax debts.

20/03/2020

Direct grants

Households

Wage compensation for employees up to 70% from previous monthly gross wage, but not more than 1000 EUR monthly per employee for a period of two months.

27/03/2020

Public loans

Non-financial corporations

Operating loans by state foundation KredEx to NFCs.

27/03/2020

Public loans

Non-financial corporations

Investment loans by state foundation KredEx to NFCs.

15/04/2020

Equity participation

Non-financial corporations

COVID-19 support measure for the acquisition of state ownership.

24/04/2020

Private moratoria

All non-financial sector

Agreement between the credit institutions on harmonised terms and conditions for deferral period for households and non-financial enterprises

21/05/2020

Direct grants

Households

Wage compensation for employees up to 50% from previous monthly gross wage, but not more than EUR euros per employee.

27/03/2020

Public guarantees

Non-financial corporations

Guarantees for new loans taken by enterprises.

15/04/2020

Public loans

Non-financial corporations

Extraordinary loans for projects of national importance.

15/04/2020

Public loans

Non-financial corporations

Loans and land capital financing for rural and agricultural sectors.

15/04/2020

Direct grants

Non-financial corporations

Grants for small enterprises and sectors which were most affected by COVID-19.

08/10/2020

Direct grants

Non-financial corporations

Grants for SMEs and sectors which were most affected by COVID-19.

09/10/2020

Direct grants

Non-financial corporations

Grants for the regular cruise line operators which were affected by COVID-19.

04/03/2021

Public guarantees

Non-financial corporations

Loan guarantee for existing bank loans.

04/03/2021

Public guarantees

Non-financial corporations

Loan guarantee for new bank loans.

04/03/2021

Public loans

Non-financial corporations

Operating loans by state foundation KredEx to NFCs.

30/12/2020

Direct grants

Non-financial corporations

The Unemployment Insurance Fund reimburses labour costs to those employers in Harju County and Ida-Viru County whose activities have been significantly disrupted in the period from 28 December 2020 to 31 January 2021 due to extraordinary circumstances.

05/03/2021

Direct grants

Non-financial corporations

Wage compensation for employees up to 60% from previous monthly gross wage, but not more than 1000 EUR monthly per employee for a period of two months.

18/03/2021

Direct grants

Non-financial corporations

Compensation for the direct costs of cultural and sporting events and other activities cancelled due to coronavirus.

30/12/2020

Direct grants

Non-financial corporations

Compensation for the direct costs of cultural and sporting events and other activities cancelled due to coronavirus in December-January.

18/03/2021

Direct grants

Non-financial corporations

Grants for small enterprises and sectors which were most affected by COVID-19.

04/03/2021

Public loans

Non-financial corporations

Loans for rural and agricultural sectors.

04/03/2021

Public guarantees

Non-financial corporations

Loan guarantees for rural and agricultural businesses.

18/03/2021

Direct grants

Non-financial corporations

Crisis support (grants) in the field of education and youth.

04/03/2021

Public loans

Non-financial corporations

Land capital financing for rural and agricultural sectors.

06/04/2020

SyRB

Banking sector

Decrease of the SyRB rate from 1% to 0%.

20/04/2020

Other measure

Banking sector

Finantsinspektsioon's guideline to offer temporary relief in relation to covid-19 impact. The guideline includes measures such as allowing banks to breach LCR requirement and taking sufficient time to recover LCR; allowing the use of combined buffer requirement; encouraging the banks to use IFRS9 transitional rules; allowing not to classify exposure as NPL in case of underlying state guarantee; allowing banks to put larger weight to long term part of the macroeconomic forecast in IFRS9; allowing to limit the exposures that show significant increase in credit risk under collective assessment in IFRS9.

02/03/2020

Other measure

Banking sector

Operational relief in the form of cancelling stress test exercise, suspending on-site inspections.

04/03/2020

Reporting requirements

All financial sectors

Letter to all market participants stressing the need for contingency planning and requiring to report about measures taken to address the operational risks. Also first indication of the financial impact was required.

20/03/2020

Reporting requirements

Banking sector

Request to banks to report on credit risk, liquidity risk and operational risk weekly and on capital position monthly. Bi-weekly telcos with banks to complement the data input.

20/04/2020

Other measure

Banking sector

Issuance of EBA GL on payment morataria as Finantsinspektsioon's guideline.

25/03/2020

Reporting requirements

All financial sectors

Prolongation of submission deadlines of supervisory reporting in case the deadline can't be met on a case by case basis, also considering EBA recommendations. Compromises must be made between data users and data submitters when prolonging the deadline of supervisory reporting.

26/03/2020

Lending standards

Banking sector

Letter addressed to banks and credit providers, stressing the need to apply responsible lending requirements as well as pointing to flexibility in treatment of credit exposures.

30/03/2020

Reporting requirements

Fund industry

Additional monthly reporting requirements.

15/04/2020

Tax reliefs (w/o fin. stab. relevance)

All non-financial sector

Suspension of the tax interest calculation for 2 months.

15/04/2020

Tax reliefs (w/o fin. stab. relevance)

Households

The state pays the advance payment of social tax for self-employed persons for the first quarter of 2020.

15/04/2020

Tax reliefs (w/o fin. stab. relevance)

All non-financial sector

Lowering of excise duty rates on diesel fuel, natural gas and electricity for two years.

23/04/2020

Direct grants (w/o fin. stab. relevance)

Households

State imbursement of sick days for workers from the first to the third day of sickness insurance (ordinarily without pay).

15/04/2020

Other measure

Other

Temporary suspension of contributions to the second pillar funds of the pension system.

28/04/2020

Other measure

Other

Investment support for local governments.

15/04/2020

Construction sector measure

Non-financial corporations

Reconstruction of apartment buildings.

22/04/2020

Other measure

All non-financial sector

Suspension of debtor's duty to file for insolvency.

22/04/2020

Other measure

All non-financial sector

Suspension of time limits for transactions that can be clawed back via avoidance actions.

03/08/2020

Dividend distribution policy

Banking sector

In line with a recommendation by ESRB, a guideline to credit institutions, insurance providers and investment firms to refrain from paying dividend, buying back shares or pay variable pay to employees.

03/08/2020

Reporting requirements

Banking sector

Additional reporting requirement to credit institutions in relation to their risk exposures which are subject to covid-19 measures.