In this workshop, we took a closer look at the main developments and innovations in the European wholesale payment and securities settlement systems, as well as standards for increased payment harmonization. We examined how to identify and manage risks, as part of the oversight.

Topics discussed during the workshop:

• Principles and rules for FMI
• TARGET2
• DvP TARGET2 Securities
• Central Counterparty (CCP) Supervision
• Oversight on wholesale settlement systems and managing risk
• Liquidity management
• Eurosystem operational collateral framework*

Who was it for

• Experts working on payments and securities settlement systems
• Policymakers and other experts involved in development of financial markets and its infrastructure
• Experts working on FMI regulation
• Other experts working on related fields will also be considered for participation

Lead Experts

Yasmina Safy, Head of Markets and Operations Unit, International Banking and Finance Institute, Banque de France

Yasmina graduated in electrical engineering in Lyon (Institut National des Sciences Appliquées). After two years as a microchip software programmer, she joined a large French bank and specialized in electronic payments where she also acted for 12 years as representative within French, European and International organizations in the means of payment area such as ISO, ECBS, EBA CLEARING and EPC. In 2004, she joined EBA CLEARING as a project manager of the Italian credit transfers migration to the European platform STEP2 and acted as a relationship manager for all services (retail and high value payment services, payment initiation services). In 2012, she joined the Interbank Settlement Division of the Banque de France in charge of TARGET2 operations (daily monitoring, crisis management, relations with French banks and back-offices of the Banque de France) and is now in charge of the Markets and Operations Unit at the IBFI of the Banque de France.

Stephan van Hofwegen, Supervisor of Payments Processors, Dutch Central Bank

Stephan started his career in 2007 as an IT-auditor at the Dutch Ministry of Finance. Since 2011 he has been working at the De Nederlandsche Bank (Dutch Central Bank) as an Overseer of payment products, payment processors and large value payment systems. He has also been active in European working groups to develop policies for payment systems, as well as central counterparties.

Sašo Črnugelj, Bank of Slovenia

Sašo joined Payment and Settlement Systems department at Banka Slovenije in 1998 and since then he was involved in several projects on payments infrastructures. He headed TARGET2 implementation project, and projects on connection to STEP2-T payment system (for credit transfers and direct debits). In 2003 he was a member of Task Force on TARGET2 and from 2004 to 2011 member of Working Group on TARGET2. In 2014 and 2015 he represented central banks in SEPA Business Working group (EBA Clearing working group). Currently he is a member of TIPS Contact Group. Sašo holds a university degree in mathematics and master degree in economics.

Miran Kovač, Bank of Slovenia

Miran joined Payment and Settlement Systems department at Banka Slovenije in 2011 and since then he was a settlement manager for TARGET2. He was also involved in TARGET2-Securities implementation project, where he was a member of the User Testing (Sub)Group. Currently he is a member of both Operational and Project Managers groups for TARGET2-Securities. Miran holds a master degree in economics.

 

* We strongly advise to participants to attend the webinar on Eurosystem Monetary Policy and Collateral Management webinar on September 20, 2018. The webinar can also be followed independently from the workshop and is intended for those interested in the framework and collateral management operations.

Partners

This learning initiative was supported by: