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Basel Accord
noun[ C ]
ukus
BANKING, FINANCE
one of the two agreements (Basel 1 and Basel 2) made by countries belonging to the G10, which suggest rules for the control of the banking business in their countries:
This study examines the effect of the 1988 Basel Accord on banks' capital ratios and credit risk-taking.
The committee responsible for issuing the Basel accords sits at the Bank for International Settlements in Basel, Switzerland.
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