The implementation period for several of the Basel III requirements that were incorporated into the domestic banking regulations commenced on 1 January 2013 and includes transitional arrangements,  4  BIS central bankers’ speeches  which will be phased in until 1 January 2019.
The purpose of the transitional arrangements is to afford banks sufficient time to meet the higher standards while still supporting lending to the real economy. South Africa underwent an FSB peer and thematic review in 2013 and recently participated in an IMF/World Bank Financial Sector Assessment Program (FSAP), which was finalised towards the end of 2014.