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.