what was wrong with basel ii 
the beginning of the subprime mortgage meltdown in 2007 and the ensuing worldwide financial crisis showed that the regulations created under basel i and basel ii were inadequate for curtailing the risks that some banks were taking and the dangers they posed to the worldwide financial system basel iii introduced during the financial crisis and still being phased in intends to better address those risks the bottom linebasel ii is the second of the three basel accords developed to create international standards for bank regulation and reduce risk in the worldwide banking system it built on and refined the original basel accord now known as basel i and led to basel iii which aims to address the inadequacies of the two earlier accords 