Payment, securities clearing and settlement systems operations and  oversight.

 

Background

Financial infrastructure constitutes the foundation for a country’s financial system and enables intermediation, lenders’ evaluation of risk and borrowers access to credit, insurance and other financial products at competitive terms. It includes institutions, technologies, information, rules, standards, and its quality determines, to a large extent, the efficiency of the financial system. The development of robust elements of financial infrastructure, such as payment, remittances and securities settlement systems, collateral registries and credit bureaus, supported by a sound legal framework, is indeed fundamental for the attainment of financial stability.

 

Payment systems constitute one of the key elements of financial infrastructure, which are a key component in developing more inclusive financial systems and promoting access to finance. A weak payment system can become fertile ground for systemic crises and hamper economic development. Similarly, activities in the securities market usually consist of large values of transactions which are transmitted and settled through the payment system. The intricate linkage between these two elements therefore calls for greater safety and efficiency in their operations.

 

Objectives

The objective of this course is to introduce participants to key aspects of financial infrastructures, the role of payment systems in an economy, risks in payments systems and standards for financial infrastructures.

 

Course content

        i.Payment, clearing and settlement systems basics

     ii.Risks inherent in payment systems

   iii.Securities Settlement Systems

   iv.Clearing and settlement processes

      v.International standards for Financial Infrastructures

 

 

 

Target Audience

This course is mainly targeting new staff responsible for the operation and oversight of Payment Systems and Securities Settlement Systems from the Central Bank, Ministry of Finance/Economic Planning and or Development, Capital Market regulators and the Securities Exchange. Officials from other stakeholder departments like Bank supervision, financial stability, legal, financial markets, banking and currency who may need training on payment systems are encouraged to enrol.