The 2007-9 financial crisis revealed some limitations and potential flaws in the Basel II Banking Regulation. As a response, the new Basel III Capital Accord was proposed by the Basel Committee on 1 June, 2011. Basel III is expected to be fully implemented in 2019. REQUIRED: Groups are required to write a report, which a) Describes the rationale and evolution of Basel regulations over time; b) Presents the current set of rules and then illuminates the objectives of the new the requirements introduced by Basel III. c) Identifies potential limitations in Basel III regulation and how a new set of rules can further foster financial stability.