To some extent, the subprime crisis is a failure of Basel II, which is not even fully born yet.

从某种程度上讲,次贷危机就是新巴塞尔协议的一次失败,该协议甚至还没有正式生效

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The Basel Accord was in 1988 and you can read about this in detail in Fabozzi, et al.

988年签订了巴塞尔协议,你们可以在法博齐的书中读到详细的内容

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I think they may have to have a Basel III before too long because everything gets more and more complex in the world.

我认为不久就会推出第三次巴塞尔协议,因为世上万事都变得越来越复杂了

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It was an international convention that gave, what they called, risk-based capital requirements and recommended risk-based capital requirements to bank regulators around the world.

巴塞尔协议是一个国际公约,它制定了,风险资本要求,并且向各国的银行监管者,推荐风险资本要求

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They're operating like banks, but they're not regulated as banks, so Basel II doesn't apply to them and they can do what they want.

它们像银行一样运作,但并不纳入银行监管,所以它们不在新巴塞尔协议监管范围之内,它们可以为所欲为

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Basel is a city in Switzerland, where the Bank for International Settlements is.

巴塞尔是瑞士的一个城市,国际清算银行就在那里

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In the Basel I there were Tier I capital requirements and they defined Tier I capital as capital in a certain form -it's stockholders equity plus preferred stock.

第一次巴塞尔协议提出了一级资本要求,他们将一级资本定义为,一种特定形式的资本金,就是股东权益加上优先股

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This system has worked well for twenty years now but it is being superseded by another Basel Convention -Basel II -which has been going on for some years now.

至今这个体系已经良好运作了20年,但是它即将被另一个巴塞尔公约所取代,新巴塞尔协议,其实它已经实施了好几年

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