Banks will have to make a more detailed disclosure each quarter, both regarding their capital adequacy and the make-up of their capital, and do so in time for release with their normal financial statements.The Australian Prudential Regulation Authority yesterday released its final rules relating to updated "pillar 3" disclosures on the composition of capital and on remuneration by authorised deposit-taking institutions (ADIs) in Australia.These disclosure requirements form part of APRA's implementation of the Basel III capital reforms announced by the Basel Committee on Banking Supervision in December 2010. They are intended to improve both market discipline and the transparency of regulatory capital and remuneration. As part of these measures, ADIs will be required to disclose:* additional information on their capital adequacy, including any counter-cyclical capital buffer * full details of the terms and conditions of each regulatory capital instrument* a reconciliation between their regulatory capital and financial statements. These disclosure requirements will, among other things, inform the market of the composition of ADIs' regulatory capital in a standard form that will allow market participants to compare the capital of banking institutions within and across jurisdictions. Banks may also soon have to report their leverage ratio on a regular basis. The Basel Committee on Banking Supervision said yesterday that it proposed banks do so from January 2015. The disclosure requirements on capital commence for the first reporting period on or after June 30, 2013. APRA will allow banks to make the first disclosures on a "best endeavours" basis if their systems are not up to scratch.