Basel III

A set of international banking rules requiring banks to hold more and higher-quality capital against losses.

Basel III is a global regulatory framework developed after the 2008 financial crisis, requiring banks to hold larger capital buffers, hold more liquid assets, and limit leverage, so they can absorb losses without collapsing or needing a bailout. Regulators in different countries phase in and enforce Basel III's standards through their own domestic banking rules.

The bank had to raise fresh capital to meet the tougher requirements phased in under Basel III.