Banks might have access to one form of capital relief from the bank regulator once the Basel II regime comes into force next year.The Australian Prudential Regulation Authority yesterday - in a discussion paper on reporting requirements - said deductions currently made from the total capital base will be deducted 50 per cent from tier one capital and 50 per cent from tier two capital.At present, most deductions from capital (for example, for investment in subsidiaries) is from tier one capital.APRA, though, said there would be a "number of additional deductions from capital" though it isn't clear what those are.The APRA paper otherwise spells out the form and frequency of reporting under Basel II. Bank, building societies and credit unions will have to report quarterly, with the first reports to go to APRA for 31 January 2008.