Basel III - A New Dimension in Banking Sector

The Macroeconomic Assessment Group (MAG) was established in February 2010 by the chairs of the Financial Stability Board and Basel Committee on Banking Supervision to coordinate an assessment of the macroeconomic implications of the Basel Committee's proposed reforms. Members of Macro Economic Assessment Group did a huge brainstorming to realize the cause of such unpredictable outcome and played the role of effectors .Basel III is nothing but brainchild of it. Basel III is designed as a protective measure so that economy can be well protected from future volatility and instability arises for any unexpected and unanticipated market risk