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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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

耶鲁公开课 - 金融市场课程节选

It's also about bank regulation, such as the Basel Accord, Basel I and Basel II.

还会讲到银行监管,比如巴塞尔协议和新巴塞尔协议

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This system has worked well for twenty years now but it is being superseded by another Basel Convention -Basel II -which has been going on for some years now.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

耶鲁公开课 - 金融市场课程节选