Virtual: Financial Market Infrastructures: Principles and Practices

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Virtual: Financial Market Infrastructures: Principles and Practices

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Bibliographic details

• Session: AT 24.19V
• Location: Ebene, Mauritius
• Dates: March 18-22, 2024 (1 week)
• Delivery method: Virtual Training
• Primary language: English
• Interpretation language: French Portuguese
• Status: Deadline passed

Target audience and qualifications

• Target Audience:
  • Mid- to senior-level officials working in the payment, legal, and technology departments at the central bank and in positions with similar responsibilities.
• Qualifications:
  • Participants should have experience in the operations and/or oversight in one or more of the following areas: payments, legal, and technology departments.

Course description and pedagogy

• Presented by the Monetary and Capital Markets Department.
• Focus:
  • The Principles for Financial Market Infrastructures (PFMI).
  • The Disclosure Framework and Assessment Methodology.
  • Topical issues on cyber resiliency, distributed ledger technology, and relevant digital innovations.
• Teaching methods:
  • Combination of lectures, case study simulations, and panel discussions.
  • Interactive, hands-on self-assessment exercises based on a hypothetical country.
  • Group presentations and de-briefings to discuss self-assessment results.

Standards, scope, and self-assessment areas

• Standards covered:
  • The 24 principles and 5 responsibilities for authorities under the PFMI.
• Self-assessment exercises target principles including:
  • Legal basis
  • Credit risk
  • Collateral
  • Default management
  • Liquidity risk
  • Central securities depositories
  • Money settlements
  • General business risk
  • Operational risk
• Systems assessed:
  • Payment system
  • Securities settlement system
  • Central securities depository

Course objectives

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

• Describe a framework of the Principles for Financial Market Infrastructures.
• Apply the standards for the compliance of its payment system, securities settlement system, and central securities depository.
• Enhance safety and efficiency in payments, clearing, settlement, and recording arrangements, and more broadly, to limit systemic risk and to foster transparency and financial stability.

References

• Virtual Training
• Core Elements of Banking Supervision (CBS)
• Advanced Government Finance Statistics (GFS-A)
• Fiscal Sustainability (FS)
• Safeguards Assessments of Central Banks (SAC)