Virtual: Financial Market Infrastructures - Principles and Practices (FMI-PP)
Deadline passed
Session No.: CE 22.09V
Location: Kuwait City, Kuwait
Date: March 7-10, 2022 (1 week)
Delivery Method: Virtual Training
Primary Language: English
Interpretation Language: Arabic
Target Audience
Mid- to senior-level officials working in the payment systems oversight departments of central banks and in positions with similar responsibilities.
Qualifications
Participants should have experience in the operations and oversight of financial market infrastructures (FMI), such as payment systems, securities settlement systems, and central securities depositories.
Course Description
This course, presented by the IMF's Monetary and Capital Markets Department, focuses on the Principles for Financial Market Infrastructures (PFMI), which aim to enhance safety and efficiency in payments, clearing, settlement, and recording arrangements, and more broadly, to limit systemic risk and foster transparency and financial stability. The course is designed to be interactive by using a combination of lectures, case study simulations, and panel discussions. Lectures focus on the 24 principles and 5 responsibilities for authorities under the PFMI, the Disclosure Framework, and Assessment Methodology, and topical issues on cyber resiliency, distributed ledger technology, and digital innovations. Participants, after gaining a basic understanding of the standards, apply them to a hypothetical country to assess the level of compliance of its payment system, securities settlement system, and central securities depository. Moreover, the self-assessment exercises are based on targeted principles and cover legal basis, credit risk, collateral, default management, liquidity risk, central securities depositories, money settlements, general business risk, and operational risk. After the hands-on self-assessment experience, results are discussed through group presentations and de-briefings. (Note: The course may be subject to further changes to accommodate remote delivery).
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
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