Basel III Accord' or simply 'Basel III' often seen in the new, seeks to
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A.
develop national strategies for the conservation and sustainable use of biological diversity
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B.
improve banking sector's ability economic stress and improve risk management
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C.
reduce the greenhouse gas emissions but places a heavier burden on developed countries
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D.
transfer technology from developed countries to poor countries to enable them to replace the use of chlorofluorocarbons in refrigeration with harmless
chemicals
Correct Answer:
B. improve banking sector's ability economic stress and improve risk management
Explanation:
The Basel III Accord seeks to improve the banking sector's ability to withstand economic stress and enhance risk management. It is an international regulatory framework developed by the Basel Committee on Banking Supervision to strengthen regulation, supervision, and risk management in banks, especially in response to the financial crisis of 2007-08. Basel III sets stricter capital requirements, introduces leverage ratios, and mandates liquidity requirements.
Therefore, the correct answer is (b) improve banking sector's ability economic stress and improve risk management.
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