Law and regulation Understanding Basel III: The Impact on Small Banks Published August 24, 2012 2:49 PM | Updated February 10, 2020 10:47 AM 3:17 Facebook Twitter LinkedIn Email About 6,000 U.S. banks, including those as small as $500 million in assets, are required to implement the "standardized" approach in Basel III. Ernst & Young's Peter Davis discusses the extent of the changes they face.