Political Economy of International Relations
Basel III is a global regulatory framework established to strengthen the regulation, supervision, and risk management within the banking sector. It was introduced in response to the financial crises of the late 2000s, aiming to improve the banking system's resilience by requiring banks to hold more capital and maintain higher quality assets. This framework emphasizes the importance of liquidity and stress testing, aligning with efforts to prevent future financial crises and enhance global financial stability.
congrats on reading the definition of Basel III. now let's actually learn it.