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The paper proposes a new approximate calculation method of occupancy distribution and blocking probability in the full-availability group (FAG) with multi-rate traffic streams and bandwidth reservation. The algorithm involves calculation of system state probabilities by a convolution operation. In the paper, an effective method of calculating state probabilities in a reservation space of the system is derived. The analytical results of blocking probabilities in the FAG with bandwidth reservation, obtained on the basis of the proposed analytical method, are compared with the data obtained on the basis of other known analytical methods and with the simulation results. The accuracy of the proposed method is evaluated for different multi-rate Bernoulli (Erlang), Poisson (Engset), Pascal traffic streams. The method proposed is characterised by lower complexity than the convolution algorithm for the FAG with bandwidth reservation devised earlier.