Question
‘Basel III Accord' or simply ‘Basel III', often seen in the news, seeks to
(a) develop national strategies for the conservation and sustainable use of biological diversity
(b) improve banking sector's ability to deal with financial and economic stress and improve risk management
(c) reduce the greenhouse gas emissions but places a heavier burden on developed countries
(d) transfer technology from developed countries to poor countries to enable them to replace the use of chlorofluorocarbons in refrigeration with harmless chemicals
Answer:
B
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Explanation:
The Basel III Accord, or simply Basel III, is an international regulatory framework for banks that aims to strengthen the global banking system and improve its resilience. It was developed by the Basel Committee on Banking Supervision (BCBS), which is a committee of banking supervisory authorities from various countries.
Basel III focuses on improving the banking sector's ability to deal with financial and economic stress by introducing more stringent capital requirements, liquidity standards, and risk management guidelines.