Binding "common standards" are to be required by law and will constitute a condition for participation in a yet-to-be-determined system of automatic stabilisation (i.e. fiscal or quasi-fiscal transfers).
They are what economists refer to as quasi-fiscal costs: outlays that are not included in official government figures but are largely the same as other types of government spending.
Also, the paper notes that banks have repeatedly been used by the government as quasi-fiscal instruments, including de facto sovereign borrowings for shoring up forex reserves.