It is important to remember that the Basel rules have always been, and continue to be, international minimums, rather than a “one-size-fits-all” approach. There are legitimate reasons why implementation may differ across countries. Some countries will implement Basel III faster than others. The current transition period to 2019 for Basel III has been variously described as enlightened, leisurely and generous.
There is no economy-wide definite dividing line between a situation of ample capacity and one where growth is limited by capacity constraints. For example, there has clearly been pressure on capacity in the building industry for some years, as anyone attempting to get a house built or renovated will confirm.