The Basel Accord aimed to establish what among participating countries?

The Basel Accord primarily aimed to establish uniform capital requirements among participating countries to promote stability in the international banking system. By setting international standards for the amount of capital that banks must hold relative to their risk-weighted assets, the Basel Accord helps ensure that banks are adequately capitalized to absorb potential losses, which in turn reduces the likelihood of a bank failure that could have systemic effects on the economy.

The framework was developed in response to the financial crises experienced in the 1980s and 1990s, with the first Basel Accord (Basel I) introduced in 1988. This was followed by subsequent updates, known as Basel II and Basel III, which refined and expanded these requirements. Such consistency in capital requirements assists in creating a level playing field among banks operating internationally, promoting fairness and reducing competitive distortions that could arise due to varying national regulations.

While other options suggest mechanisms that could influence banking operations, such as interest rates or access to loans, they do not specifically capture the essence of the Basel Accord's focus on capital adequacy standards across different countries.