The Bank of Russia extended the temporary approaches to calculating the amount of operational risk
The Bank of Russia has decided to extend temporary approaches to calculating the amount of operational risk for credit institutions for the period until September 30, 2024 (inclusive).
This period expands the list of credit institutions that are entitled to switch to the advanced calculation of operational risk with the application of the calculated internal loss ratio (calculated IRL) ahead of schedule. Thus, until September 30, 2024 (inclusive), banks which, as of the date of submission of the notification on application of the calculated IRL to classification subgroup 2.2 of Group 22 are entitled to submit such notification to the Bank of Russia. At the same time, a credit institution has the right to schedule the start of application of the estimated EIR for the first day of any calendar month
1 In accordance with the Regulation of the Bank of Russia dated December 7 2020 “On the procedure for calculating the amount of operational risk (“Basel III”) and the supervision by the Bank of Russia over its compliance.”
2 In accordance with Chapter 2 of the Bank of Russia’s Instruction No. 3 April 2017, No.
The reference to the Press Service of the Bank of Russia is obligatory when using the material.