answering the following question. An important regulatory initiative following the 2007-2008 global financial crisis was the introduction of the Basel 3 Accord. To what extent do you think Basel 3 represented an adequate response to the problems which led to the crisis? Will current proposals for developing the Basel 3 framework make this response more effective? Are there any ways in which the Basel 3 Accord needs to be amended or developed in the future in order to ensure financial stability and economic growth? Reading for the assignment The week by week reading in the module guide and the material contained in the reading list should give you an introduction to the main principles underlying Basel 3. There is a lively debate taking place at present about whether Basel 3 has been a sufficient response to the problems of the financial system. One important issue here is the plan to develop Basel 3 in the next few years through reforms known as the 'Basel 3 Endgame' (sometimes referred to as `Basel 4' or 'Basel 3.1'). There has also been a general discussion about the strengths and weaknesses of Basel 3. Some introductory reading on these debates includes the following. You should also search for further relevant reading through your own research. Basel Committee on Banking