8. Provide an overview of changes in capital requirements for banks in the following order (you can use a textbox to type the respond): a. How did the regulators determine capital requirements prior to the 1988 BIS accord (Basel 1)? How did these requirements change in Basel I? b. What changed under the 1996 Amendment? C. Briefly comment on the three "pillars" of Basel II d. What are the six major components of Basel III? e. What is the difference between VaR as it has been traditionally measured and stressed VaR? 8. Provide an overview of changes in capital requirements for banks in the following order (you can use a textbox to type the respond): a. How did the regulators determine capital requirements prior to the 1988 BIS accord (Basel 1)? How did these requirements change in Basel I? b. What changed under the 1996 Amendment? C. Briefly comment on the three "pillars" of Basel II d. What are the six major components of Basel III? e. What is the difference between VaR as it has been traditionally measured and stressed VaR