Since the beginning of November, the sensitivity of the Ukrainian financial system to new attacks on the energy sector began to decrease, and by the end of December, the financial stress index (FSI) fell to its lowest level since the beginning of the war. This is stated in the "

It is noted that the latest surge in FSI values \u200b\u200b\u200b\u200boccurred after the first attacks on the energy infrastructure in October..

During this period, sub-indices of government securities and the banking sector reacted. The foreign exchange sub-index additionally reacted to the attacks, as fluctuations in the cash exchange rate intensified and NBU foreign exchange interventions temporarily increased. High values \u200b\u200bof several sub-indices simultaneously increased the level of stress in the system.

However, since the beginning of November, the sensitivity of the financial system to new attacks has significantly decreased, almost all sub-indices have begun to decline..

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Recall that the financial stress index in Ukraine increased sharply after the Russian invasion in February. But it was less than during the crises of 2008 and 2014-2015.

In summer, the index growth was caused by high values \u200b\u200bof sub-indices of government securities on the eve of the restructuring of Eurobonds and the banking sector due to rising interest rates.