The accord, which had been under development for several years, helped to focus supervisors and the industry on the importance of adequate capital for bank safety and soundness. It was a de facto increase in capital standards for a number of depository institutions, particularly large firms with significant risks from off-balance-sheet activities.
They include: the risk of state finances becoming unbalanced on the back of the unpredictable nature of the war and the possible emergence of additional budgetary needs the risk of the energy sector running large quasi-fiscal deficits because of high energy prices the risk that a large part of the Ukrainians who have gone abroad will not return, and that some more Ukrainians may decide to leave Ukraine, at least during the heating season.