The Basel Accord updated in 2010 to strengthen bank capital requirements was Basel III.
Basel III was developed by the Basel Committee on Banking Supervision in response to weaknesses exposed by the 2007–09 global financial crisis. It strengthened the quality and quantity of bank capital, emphasizing common equity that can absorb losses while a bank remains a going concern.
The framework introduced or expanded several safeguards, including a capital conservation buffer, a countercyclical buffer, a leverage ratio and global liquidity standards. The Liquidity Coverage Ratio addresses short-term stress, while the Net Stable Funding Ratio encourages more stable longer-term funding. Basel III therefore covers more than capital alone.
Basel I, issued in 1988, established the original international risk-based capital framework. Basel II followed with more risk-sensitive rules in the 2000s. “Basel IV” is an informal label sometimes applied to later reforms, but the Basel Committee officially treats those changes as part of Basel III. Implementation began gradually rather than all at once.