Sberbank receives permission from CBR to use internal ratings approach when calculating reserves

SOCHI. Sept 26 (Interfax) - Sberbank has received permission from the Central Bank of Russia to use the internal ratings approach when calculating reserves, Central Bank Deputy Governor Olga Polyakova said.

"Sber recently took advantage of the opportunity provided under regulation 730, and approached us with a petition to grant them permission to use their methodology for reserves purposes as a bank that has switched to the internal ratings approach," Polyakova said in Sochi at the international banking forum organized by the Association of Banks of Russia.

"My colleagues and I discussed the matter for a long time, reviewed all the data, and came to the conclusion that we could issue this permission to Sber, and we congratulate them on this. Permission was granted last week," Polyakova said.