The National Bank of Ukraine (NBU) announced Thursday that Ukraine banks would need to meet an increased regulatory capital minimum.

This week, the NBU approved a resolution that banks would need to hold $33 million in capital as opposed to the previous $7.9 million. The resolution also said banks that have been established prior to July 11, 2014, would be allowed to gradually increase their capital to meet the requirements set by the NBU. The requirements need to be met in 10 years, with staggered benchmarks set at $9.9 million in 2017, $13.2 million in 2018, $16.5 million in 2019, $19.8 million by 2020, $23.1 million in 2021, $26.4 million in 2022, $29.7 million in 2023 and $33 million in 2024.

Increases in minimum regulatory capital are part of efforts by NBU  and the Ukrainian government to stabilize the nation's economy. Better-capitalized banks would be better equipped to handle poor economic climates in the future. Banks that fail to meet the new requirements will lose status as bridge banks, as put forth by Ukrainian law.