Agenda
Agenda
Agenda
09:00 – 09:30
Coffee and registration
09:00 - 09:30
09:30 – 11:00
Session 1: 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?
11:00 – 11:30
Coffee break
11:00 - 11:30
11:30 – 13:00
Session 2: The emerging world of CBDCs and crypto assets
11:30 - 13:00
- Applications of blockchain and DLT in payments and settlements
- Distinctions and overlaps between crypto assets and central bank digital currencies
- Overview of key projects and regulatory responses
- Group discussion: What problem is digital money trying to solve?
- Hands-on exercise: how to solve a crypto puzzle
13:00 – 14:00
Lunch
13:00 - 14:57
14:00 – 15:30
Session 3: 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
15:30 – 16:00
Coffee break
15:30 - 16:00
16:00 – 17:00
Session 4: 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?
09:00 – 09:30
Coffee
09:00 - 09:29
09:30 – 11:00
Session 5: 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
11:00 – 11:30
Coffee break
11:00 - 11:30
11:30 – 13:00
Session 6: 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
13:00 – 14:00
Lunch
13:00 - 14:57
14:00 – 15:30
Session 7: Effective oversight: a user’s guide
14:00 - 15:30
- Overview of the oversight bodies and frameworks
- Roles and responsibilities of central banks
- Upcoming CPMI agenda
- 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.
15:30 – 16:00
Coffee break
15:30 - 16:00
16:00 – 17:00
Session 8: Course conclusion
16:00 - 17:00
- Review of key takeaways from earlier sessions
- Overview of emerging themes, trends and opportunities
- Preparation of delegate action points
- Distribution of course materials including the new textbook