The manual addresses each of the qualitative requirements contained in the regulations and emphasizes the key focus of the Central Bank in its on and off site examination of banks.

The qualitative rules come into force on 1 July 2015. Any bank that expects to be in breach of the regulation when the regulation commences should approach the Central Bank to discuss a remediation plan. Breaches will be dealt with on case by case basis. The Central Bank will apply proportionality in determining the suitability of some of the more complex requirements for smaller banks.

Those banks that are aspiring to be Basel III approved will not have proportionality applied in relation to qualitative requirements, given such banks are expected to comply with all of the qualitative requirements before they can be considered for approval.