The global financial crisis has had a profound impact on banking regulation. With much of the blame for this crisis having been attributed to the lack of effective banking supervision, immense pressure has been placed on the upcoming Basel Accord to tackle these problems in order to avoid future crises, or at least to 'mitigate its severity. In essence, the Basel Accords primarily aim to gauge the level of capital required to protect banks against risks associated with their assets. As a result, the latest accord, Basel III, significantly increased banks' capital requirements and introduced other features with the aim of increasing the soundness of the banking system. The banking industry, however, proclaimed that this would lead to essentially negative results throughout the global economy due to an increase in required capital "set aside." In light of these controversial dynamics, this essay strives to provide a balanced overview of the issues and critically analyze the arguments made in the article attached to this paper. As a result, it highlights the potential positive and negative effects of Basel III once fully implemented, as well as the shortcomings of several credit rating agencies, which were mainly highlighted due to the financial crisis. Finally, he concludes by asserting that the article lacks essential information and that the reactions of the banking sector demonstrate an attempt by a powerful sector to maintain its exorbitant privileges. Although the article states that Basel III will likely promote negative effects, such as an increase in the cost of credit for borrowers, it does not recognize the potential benefits of this agreement. In fact, there are many substantial benefits associated with Basel III, particularly those related to the increased benefits and potential harms of the b...... middle of paper ......el III, the article overestimated the latter. This allows readers to have an incomplete understanding of the complexities related to global banking regulation. Additionally, the article does not leave enough space for regulators to detail the benefits. Instead, these are mentioned succinctly as a weak statement. A realistic assessment of the positive and negative effects of Basel III shows that the former outweigh the latter when considering the security and soundness of the global economy. It is therefore plausible to argue that the banking sector's overreaction illustrates how a powerful sector, which has grown significantly due to deregulation, financial liberalization and lack of adequate supervision, has been pushed to the fore, or at least authorized, by the national governments of the major world economies. , strove to keep his privileges intact.