word
Basel III accord
BAH-zel the THIRD ah-KORD
ˈbɑːzəl ðə ˈθɜːrd əˈkɔːrdListen
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Syllable breakdown
BaseltheThirdaccord
Dictionary meaning
the third iteration of the Basel Accords — a comprehensive set of international banking supervision standards developed by the Basel Committee on Banking Supervision following the 2008 financial crisis; introduces substantially higher and better-quality capital requirements, a leverage ratio to constrain excessive borrowing, liquidity coverage and net stable funding ratios to ensure short- and long-term resilience, and countercyclical capital buffers to dampen the credit cycle
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