Fourteen countries have put the final Basel III-based capital regulations in place, a report released by the Basel Committee on Banking Supervision yesterday shows.In a periodic report, the BSBC said that final Basel III capital rules are now in force in Australia, Canada, China, Hong Kong, India, Japan, Mexico, Saudi Arabia, Singapore, South Africa and Switzerland. The Basel Committee said three countries - Argentina, Brazil and Russia - have issued final rules and will bring them into force by the end 2013. Thirteen countries missed the January 1, 2013 deadline for issuing final regulations, including nine countries that are members of the European Union. South Korea, Turkey and the United States also missed the deadline.The BCBS said that "despite some delays in implementing Basel III regulations, national supervisors are ensuring that internationally active banks are, where necessary, making steady progress in strengthening their capital base to meet the new Basel III standards."It said that for the 12 months ending June 2012, large, internationally active banks, on average, had raised their average Common Equity Tier 1 capital ratio to 8.5 per cent from 7.1 per cent of risk-weighted assets.The BCBS said that "for those banks that do not yet meet the fully-phased in requirements, CET1 capital shortfalls fell from roughly €450 billion to €200 billion" since the last survey six months before.