English

Financial Markets Infrastructures and Fintech (FMIF)

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Apply online by November 24, 2017
Course No.: ST 18.09
Location: Singapore, Singapore
Date: April 23, 2018-April 27, 2018 (1 Week)
Language: English

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.

Important Note for Online Courses:

For Online Learning (OL) courses, which are delivered through the edX platform, you will need an additional piece of information to register: you will be prompted for your edX.org username. If you do not already have a username, please go to https://courses.edx.org/register and sign up for a free account. Once you have created an account, you may complete the IMF Institute application. If you already have an edX account, your username can be found on the top right of the screen after logging in.

Important Note for Internal Economics Training Courses:

Internal Economics Training (IT) courses are self-financed. The IMF will not charge officials for attending courses. However, all travel, insurance, hotel, and living costs will need to be covered by the agency sponsoring the participants.