II is the modified framework of supervisory regulations
governing capital adequacy for internationally active
banks, published by the Basel Committee of Banking Supervision.
This paper argues that while the Revised Accord is yet
another attempt by the global financial community to
remedy the woes associated with unhindered financial
liberalization, it will only serve to exacerbate the
already existing conflicts between the objectives of
financial stability and economic development facing
developing countries under the present paradigm.