Global Regulatory Changes to the Banking Industry after the Financial Crisis: Basel III
DOI:
https://doi.org/10.1956/jge.v11i2.395Keywords:
Regulation of the banking industry, Basel Agreements, the Financial Crisis of 2007-2009.Abstract
Two global regulatory frameworks for the banking industry (the Basel I and Basel II Agreements) had already been developed and implemented when the Financial Crisis (2007-2009) hit the global economy, and a third version was under development. We center this study’s attention on the structure and functioning of the Basel III Agreement but, in order to set the background, we briefly discuss its previous versions (Basel I and Basel II). Finally, we present some comments on the meaningfulness and impact of the Basel Agreements worldwide, and offer our inferences on what will be the future of the world banking industry under Basel III.
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