Bloomberg Canada’s five biggest banks approved about 69,000 in loans on the opening day of the federal government’s relief program for small businesses hurt by the coronavirus pandemic. That totals $2 billion if every client took the full amount allowed under the Canada Emergency Business Account, which offers government-guaranteed loans of as much as C$40,000 that are interest-free through 2022. …

Bloomberg South African banks are pushing for the creation of a loan-guarantee program to boost the flow of credit as lenders ramp up efforts to help clients cope with the coronavirus fallout. The nation is in its second week of a 21-day lockdown to contain the spread of Covid-19, which if extended could further cripple an economy already in recession. …

Bloomberg New Zealand’s central bank is not currently preparing retail banks for the introduction of a negative official cash rate, suggesting policy makers will resist cutting it further for the time being. The main reason the Reserve Bank committed to keeping its benchmark rate at 0.25% for at least a year “was to take away the imminent distraction of needing …