|Title||An Analysis of Basel III as a Prophylactic|
The aim of this research is twofold. The first is to gauge the efficacy of Basel III which is the Basel Committee on Banking Supervision’s response to the global financial crisis that broke out in the summer of 2007, while the second is the examination of the role of law in crisis. The Basel Committee on Banking Supervision is the international agency tasked with standard setting for internationally active banks and within this remit is the charge to position these banks to withstand crisis and possibly forestall the outbreak or spread of crisis. One the other hand, the concept of law serves as an original, self-creating justification for regulating human conduct. Law has a number of unique features that may benefit international banking regulation. As the global community becomes ever smaller and systemic risk continues to plague the already heavily interconnected global financial system, these investigations are important to ensure the growth and development benefits of a stable global financial and economic system are enhanced.