Training Catalog Session Details

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

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.

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).