REUTERS - Gulf Arab oil exporters have adopted an array of policy measures to ease tight liquidity and prop up sagging investor confidence during a global recession.
Dubai's government took the latest step on Sunday, and said it would provide additional financing for commercial banks and it stood behind the Gulf Arab country's banking system and branches of foreign banks.
Below are details of government and central bank actions.
KUWAIT
Aug 10 - Kuwait central bank said it would issue $348 million of one-year treasury bonds on Aug. 12.
Aug 4 - Central bank said it would issue $348.8 million of one-year treasury bonds on Aug. 5 at a coupon of 1.5 percent.
July 1 - Central bank cut its three repurchase rates by 25 basis points each, but left its benchmark discount rate on hold.
May 13 - Kuwait central bank decides to cut benchmark discount rate by 50 bps to 3 pct from May 14. This is the fifth cut since October, taking total reduction to 275 basis points.
April 2 - Kuwait's cabinet approved a bylaw to implement a $5.11 billion economic support package, including a guarantee of 50 percent of new loans extended to local firms.
Nov. 19 - The central bank introduced new short-term repurchase agreements to give banks more access to funding.
Dec. 4 - Sovereign wealth fund said it would invest 1.5 billion dinars in local equities, adding later the funds aimed to stabilise the bourse and would invest for the long term.
Oct. 29 - Kuwait passed law guaranteeing all bank deposits after the central bank was forced to save Gulf Bank, which suffered steep derivatives trading losses.
Oct. 9 - The Kuwait Investment Authority pumped cash into the bourse to help stabilise markets.
SAUDI ARABIA
June 16 - Saudi Arabian Monetary Agency (SAMA) halved the interest rate it pays to commercial banks for deposits, but kept its benchmark repurchase rate unchanged.
June 4 - Saudi Arabia's central bank freezes some bank accounts related to industrial group Ahmad Hamad Al Gosaibi Group & Brothers (AHAB), bankers said.
June 1 - Central bank orders domestic lenders to freeze bank accounts of businessman Maan al-Sanea, one of the country's wealthiest businessmen, chairman and founder of the Saad group, and big shareholder in HSBC.
May 17 - Central bank governor said Saudi was drawing on some foreign reserves but not selling foreign assets to finance a growing budget designed to stimulate the economy.
April 14 - Saudi Arabian Monetary Agency (SAMA) cut its reverse repurchase rate by 25 basis points to 0.5 percent. It had reduced the rate in January and December by a total of 125 basis points.
Jan. 19 - SAMA cuts benchmark repurchase rate by 50 basis points to 2 percent, having lowered it by 50 basis points in December. In five moves since October, the repo has been lowered by a total of 350 basis points.
Nov. 23 - SAMA lowered bank reserve requirements to 7 percent from 10 percent. Since October, it has reduced the reserve ratio from 13 percent.
Oct. 21 - SAMA poured $3 billion in long-term bank deposits, its first direct injection of U.S. dollars in a decade.
Oct. 17 - Saudi Arabia's top economic body, the Supreme Economic Council, promised to guarantee bank deposits.
UNITED ARAB EMIRATES
Nov. 29 - The central bank set up a new additional facility for commercial banks. The facility is at the rate of 50 basis points above the 3 months EIBOR. It also said it stood behind UAE banks and branches of foreign banks.
Nov. 25- Duabi government raised a further $5 billion as part of a $20 billion bond programme launched in 2009.
Aug. 31 - Central bank said would cut interest rate on its liquidity support facilities to banks to 1.5 percent from 2.5 percent in a bid to boost economic growth and spur lending. The cut would take effect starting Sept. 1.
Aug. 26 - Central bank official said new UAE EIBOR panel to consist of 11 banks.
Aug. 19 - Central bank will introduce an official interbank offered benchmark rate mechanism in the first half of September.
Aug. 5 - Country's interbank rates dropped after announcement of central bank benchmark plan.
Aug. 4 - Central bank said it planned to set up an Emirates Interbank Offered Rate (EIBOR) that would create an official benchmark for the dirham's offered rate, and ensure a better view of "prevailing market conditions."
July 16 - Central bank met commercial banks to assess potential problems due to lending to troubled Saudi family conglomerates.
Feb. 25 - Dubai said it is working on a stimulus package to support small- and medium-sized companies.
Feb. 22 - Dubai launched a $20 billion bond programme and sold the first $10 billion tranche to the UAE central bank, easing worries state-linked companies could default on debts.
Feb. 4 - Abu Dhabi government said it plans to inject $4.4 billion to recapitalise five of its banks.
Jan. 19 - UAE lowered overnight repurchase rate by 50 basis points to 1 percent.
Nov - The government set up a committee to come up with policy responses to the crisis, including the economy minister, central bank governor and minister of state for finance.
Oct. 21 - The finance ministry poured $6.8 billion into bank deposits, the first tranche of a $19.1-billion rescue facility. It deposited another $6.8 billion into banks in November.
Oct. 13 - The UAE guaranteed bank deposits.
Oct. 8 - UAE cut repo by 50 basis points to 1.5 percent, and lowered borrowing rate on its $13.6 billion facility.
Sep. 25 - The central bank set up a $13.6 billion emergency bank lending facility.
QATAR
March 24 - Qatar central bank says it has not cut interest rates since the autumn because liquidity is fine and it is tackling inflation.
March 20 - Qatar said it bought $1.79 billion worth of listed banks' investment portfolios.
Jan. 19 - The government ordered two local real estate companies to merge as consolidation rises to face global turmoil.
Oct. 13 - Qatar's sovereign wealth fund, the Qatar Investment Authority, said it would buy 10 percent to 20 percent of listed banks' capital to boost confidence.
OMAN
Jan. 27 - Oman said it would start a $390 million market-maker fund on Feb. 1.
Jan. 1 - The central bank reduced bank reserve requirements to 5 percent from 8 percent and raised the lending ratio.
Dec. 4 - The central bank said it amended bank reserve requirement rules to release 270 million riyals ($700 million) into the banking system.
Dec. 31 - Oman raised its repurchase rate by 47 basis points to 2 percent, having lowered the rate by more than 200 basis points between November and mid-December.
Nov. 3 - The central bank allocated about $2 billion to local banks to provide dollar liquidity.
BAHRAIN
Sept 15 - Bahrain's central bank cut its one-week deposit facility by 25 basis points to 0.50 percent from 0.75 percent and kept its overnight deposit facility at 0.25 percent. Repo and lending rates were cut to 2.25 percent from 2.75 percent.
Aug 9 - Bahrain names administrators for Saudi groups' two banks.
July 30 - Bahrain's central bank seized two banks belonging to debt-laden Saudi conglomerates Saad Group and Ahmad Hamad Algosaibi and Brothers.
June 23 - Central bank launched probe at The International Banking Corporation (TIBC) after its owner, Saudi-based Algosaibi group (AHAB), said it had discovered substantial irregularities in its financial services arm.
Mar. 3 - Central bank cuts bank reserve requirements to 5 percent from 7 percent, citing easing inflation.
Dec. 18 - The central bank slashed all key interest rates by 75 basis points in response to a Federal Reserve cut, taking its lending rates to 2.75 percent, its one-week deposit rate to 0.75 percent and its overnight deposit rate to 0.25 percent.
Oct. 30 and Oct. 9, Bahrain cut overnight secured rate and repurchase rate by a combined 175 basis points to 3.5 percent. It cut the one-week deposit rate by 50 basis points to 1.5 percent and the overnight deposit to 1 percent.
Oct. 30 - Central bank expanded acceptable collateral for overnight funds to include ijara sukuk, a type of Islamic bond.
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