Agenda

Agenda

Training Agenda

The Evolving Landscape of Payments and Settlements

11:00 – 12:00

Impact of FinTech and Disruptive Innovation

09:30 - 11:00

  • Drivers and building blocks of FinTech innovation 

  • Operational implications for FMI design and oversight

  • Overview of LEI and ISO 20022

  • Opportunities and risks of Target2-Securities 

  • Group discussion: Instant Payments as the new normal?

12:00 – 12:15

Break

11:00 - 11:30

12:15 – 13:15

Retail Payments

14:00 - 15:30

  • Overview of the training course and discussion of participants’ expectations

  • Key features of retail payment instruments and infrastructures

  • Implications and opportunities of disruptive technological innovation

  • Case study: retail payments in the euro area

13:15 – 13:30

Break

13:00 - 14:00

13:30 – 14:30

Large Value Payments

16:00 - 17:00

  • The Automated Clearing House in the 6-corner model

  • Risk and benefits of RTGS and DNS systems

  • Key sources of systemic risk and how to deal with them

  • The trade-off between settlement risk and liquidity need: LSMs

  • Herstatt Risk and its mitigation

  • Hands-on exercise: Settlement Finality – what to do when a bank goes into bankruptcy?

Oversight and Innovation

11:00 – 12:00

Securities and Derivatives

11:30 - 13:00

  • Delivery versus Payment: Securities Settlement Systems 

  • Evolution of Central Securities Depositories

  • The Bankruptcy Question and Central Counterparties

  • Case study: September 2018 Nasdaq Clearing Member Default

12:00 – 12:15

Break

11:00 - 11:30

12:15 – 13:15

Interdependencies Workshop

09:30 - 11:00

  • Participants will be divided into small groups and using case studies from previous sessions will explore practical implications of systemic interconnectedness of various payment and settlement frameworks.

13:15 – 13:30

Break

13:00 - 14:00

13:30 – 14:30

Effective Oversight: A User’s Guide

14:00 - 15:30

  • Overview of the oversight bodies and frameworks 

  • Roles and responsibilities of central banks

  • Examples of oversight in practice

  • Case study: the standard setter’s response to the Lehman crisis – PFMIs

  • Mini-Workshop: Develop your own oversight framework based on a real-life oversight template