A global regulatory framework for banks and banking systems, developed by the Basel Committee on Banking Supervision in response to the financial crisis of 2008. Basel III builds upon the Basel II rulebook. Its aim is to strengthen the regulation, supervision and risk management of the banking sector. The measures aim to improve the banking sector's ability to absorb shocks arising from financial and economic stress, improve risk management and governance, and strengthen banks' transparency and disclosures.
LeoGlossary: Basel Framework (Basel III)
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