They amend the international banking standards known as the Basel Accords.[1] Regulators argue that these changes are simply completing the Basel III reforms, agreed in principle in 2010–11, although most of the Basel III reforms were agreed in detail at that time.[2] The Basel Committee (BCBS) itself calls them simply "finalised reforms"[3] and the UK Government has called them "Basel 3.1".[4] Critics of the reform, in particular those from the banking industry, argue that Basel IV require a significant increase in capital and should be treated as a distinct round of reforms.[5]