what are the basel accords 
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 bcbs is a group of 45 representatives from major global financial centers the committee provides recommendations on banking and financial regulations specifically concerning capital risk market risk and operational risk the accords ensure that financial institutions have enough capital on account to absorb unexpected losses the liquidity coverage ratio lcr is a chief takeaway from the basel iii accord 