South Africa's Implementation of Basel II and Basel III
The Department’s effort to implement Basel II – the Basel Committee’s revised capital framework – on 1 January 2008 was a major exercise undertaken over several years.
Accordingly, the discussions in the Annual Report 2007 as detailed in chapter 2, describe a holistic view of Basel II implementation from the start of the process, shortly after the millennium change, up to the date of implementation.
The discussion covers the process of incorporating Basel II into the regulatory framework, along with the development, implementation and embedding of the following elements of Basel II:
On 1 January 2013 South Africa implemented amended Regulations which, in line with the Basel III framework, essentially address both bank-specific and broader, systemic risks by:
The implementation period for several of the Basel III requirements that were incorporated into the Regulations commenced on 1 January 2013 and includes transitional arrangements which will be phased in until 1 January 2019. The transitional arrangements are available to give banks time to meet the higher standards while still supporting lending to the economy. For further details please refer to Directive 5 of 2013.
Subsequent to the implementation of Basel III in South Africa, the Basel Committee issued various further or revised requirements in respect of a wide range of matters that required amendments to local Regulations, including:
In addition, amendments to the Regulations were required as a result of the 2015 RCAP process and the supervisory review processes and participation in various international forums.
Statistics
Key Statistics
Releases
Quarterly Bulletin
Institutional Sector Classification Guide for SA
C Form Guide
Advance Release Calendar
If you have further questions about Basel II and Basel III, please do not hesitate to contact us.