BANKING AFFAIRS

Detailed explanation-1: -The Basel norms is an effort to coordinate banking regulations across the globe, with the goal of strengthening the international banking system. It is the set of the agreement by the Basel committee of Banking Supervision which focuses on the risks to banks and the financial system.

Detailed explanation-2: -Basel Norms are the international banking regulations. Basel III Accord was developed by the Basel Committee on Banking Supervision (BCBS). In 2010, Basel III guidelines were released. It was developed in response to the shortcomings in financial regulations exposed during the financial crisis of 2007-08.

Detailed explanation-3: -The BASEL norms have three aims: Make the banking sector strong enough to withstand economic and financial stress; reduce risk in the system, and improve transparency in banks. After the 2008 financial crisis, there was a need to update the BASEL norms to reduce the risk in the banking system further.

Detailed explanation-4: -Basel III is an internationally agreed set of measures developed by the Basel Committee on Banking Supervision in response to the financial crisis of 2007-09. The measures aim to strengthen the regulation, supervision and risk management of banks.

Detailed explanation-5: -The Basel Accords are a series of three sequential banking regulation agreements (Basel I, II, and III) set by the Basel Committee on Bank Supervision (BCBS). The Committee provides recommendations on banking and financial regulations, specifically, concerning capital risk, market risk, and operational risk.