The Basel Accords are a set of international banking regulations developed by the Basel Committee on Banking Supervision. They aim to enhance the stability of the financial system by establishing minimum capital requirements for banks. The accords help ensure that banks maintain enough capital to cover their risks, promoting sound banking practices globally. There are three main versions of the accords: Basel I, Basel II, and Basel III. Each version builds on the previous one, introducing more sophisticated risk management and capital adequacy standards. These regulations are crucial for maintaining trust in the banking system and preventing financial crises.