Digital Banking Strength and Strategic Funding

COVID-19: Government Responses Policy Action Canada United Mexico Peru Chile Colombia States Policy Rate Cuts 150 bps 150 bps 275 bps 200 bps 125 bps 250 bps (Since March 1, 2020) Fiscal & Financial Measures (% of GDP) Liquidity program 17.5% 13.5% 0.7% 12.0% 11.5% 2.8% Key Measures Wage and payroll support programs Payment deferral programs Small business and sectoral programs Loan guarantees Household income supplementary funds Retirement savings withdrawals Tax holidays Source: Scotiabank Economics. As at October 13, 2020. 56

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