"Basel III is an internationally agreed set of measures developed by the Basel Committee on Banking Supervision in response to the financial crisis of 2007-09. The measures aim to strengthen the regulation, supervision and risk management of banks.
Like all Basel Committee standards, Basel III standards are minimum requirements which apply to internationally active banks. Members are committed to implementing and applying standards in their jurisdictions within the time frame established by the Committee."
https://www.bis.org/bcbs/basel3.htm
"Basel III is an extension of the existing Basel II Framework, and introduces new capital and liquidity standards to strengthen the regulation, supervision, and risk management of the whole of the banking and finance sector.
It was agreed upon by the members of the Basel Committee on Banking Supervision in 2010–2011, and was scheduled to be introduced from 2013 until 2015."
https://www.ibm.com/support/knowledgecenter/en/SSN364_8.8.0/com.ibm.ima.tut/tut/bas_imp/bas3_sum.html
"As of today, Basel III comes in effect. Rumour goes that in a couple of months, there will be a lot of turmoil on the market and it would be the start of the implementation of an SDR like thing where people would lose 20-30% of their value and get stuck with this new currency,
https://www.armstrongeconomics.com/world-news/banking-crisis/basel-iii-imf-liquidity-crisis/