Basel III is intended to strengthen bank capital requirements by increasing bank liquidity and decreasing bank leverage. It is well known a fact by now that it refers to a global, voluntary regulatory framework on bank capital adequacy, stress testing, and market liquidity risk. It was agreed upon by the members of the Basel Committee on Banking Supervision in 2010–11, and was scheduled to be introduced from 2013 until 2015; however, changes from 1 April 2013 extended implementation until 31 March 2018 and again extended to 31 March 2019. The third installment of the Basel Accords (see Basel I, Basel II) was developed in response to the deficiencies in fincial regulation revealed by the fincial crisis of 2007–08. The Basel III standard very correctly aims to strengthen the requirements from the Basel II standard on bank's minimum capital ratios. In addition, it introduces requirements on liquid asset holdings and funding stability, thereby seeking to mitigate the risk of a run on the bank.