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Financial Markets Infrastructures and Fintech (FMIF )

Target Audience

Mid-level to senior officials working in the payment systems oversight and finance and technology (fintech) departments of central banks and in positions with similar responsibilities.

Qualifications

Participants should have experience in the operations and oversight of financial market infrastructure (FMI), such as payment systems, securities settlement systems, and central securities depositories.

Course Description

This course, presented by the IMF Monetary and Capital Markets Department, focuses on the Principles for Financial Market Infrastructures (PFMI), which enhance safety and efficiency in payments, clearing, settlement, and recording arrangements, and more broadly, limit systemic risk and foster transparency and financial stability. The workshop is designed to be interactive, using a combination of lectures, case study simulations, and panel discussions. Lectures focus on the PFMI’s 24 principles and 5 responsibilities for authorities, the Disclosure Framework, the Assessment Methodology, and such other important issues as cyber resiliency, distributed ledger technology, and fintech. After gaining a basic understanding of the standards, participants apply them to a hypothetical country to assess compliance with its payment and securities settlement systems and the central securities depository. The self-assessment exercises, based on crucial principles, cover legal basis, credit risk, collateral, default management, liquidity risk, central securities depositories, money settlements, general business risk, and operational risk. After a hands-on self-assessment experience, results are discussed through group presentations and debriefings.

Course Objectives

Upon completion of this course, participants should be able to:

  • Establish the required level of PFMI proficiency.
  • Apply hands-on experience with self-assessment of FMIs against international standards.
  • Identify issues of concern, gaps, or shortcomings in compliance and recommend solutions.
  • Recognize recent developments, particularly increased cyber risk and distributed ledger technologies, and how they affect FMIs, regulation, and financial stability.
Language: English
Application process: Please apply online

Details

Start:
Apr 23, 2018
End:
Apr 27, 2018
Course Number
ST18.09

Application Deadline

Dec 27, 2017