Which of the following statement is CORRECT?

Select one:

a.

The Basel III capital accord framework is based on two pillars.

b.

The Basel III requires banks to hold a minimum amount of Treasury bills.

c.

An important function of bank equity is to write off business losses.

d.

The Basel accords require that the ratio of a banks capital to its value-weighted assets be set at a certain minimum level.

e.

The Basel III requires each bank manager to be a chartered financial analyst (CFA).