a) b) Question Two Basel III is part of the continuous effort of the Basel Committee on Bank supervision to enhance the banking regulatory framework. It builds on Basel I and Basel II. Required: Explain the main objectives of Basel III and how are the same achieved. (5 marks). Credit creation is the most significant function of commercial banks. Commercial banks do also perform other primary as well as secondary functions besides credit creation. Required: Discuss five other functions performed by international banks besides credit creation. (5 marks)