About this learning event

We will look at the main developments in the European wholesale payment and securities settlement systems, and the standards for increased payment harmonization. We will cover the European frameworks of payment and settlement systems as well as regional examples.

The course addresses ensuring efficient, strong and reliable payment and settlement systems. We will focus on the needs for developments in payment infrastructures, service providers, and securities settlement systems. We will dive into the TARGET2 and TARGET2Securities, and instant payments. Along with this, we will devote special attention to the recent developments that gave a boost to payment innovations, financial technologies and other newer forms of payment services. We will discuss the opportunities and potential threats of the innovations as well as how the regulators can accommodate for them.

Participants will receive a good overview of payment and settlement systems, international guidelines, European and national frameworks, along with hearing on other applicable experience from their peers. The aim of the course is to gather experts around topics that are actual and appicable. Thus, we will strive to accommodate to expressed interest and needs by the participants. Moreover, we will explore regional practices, experience, and challenges through presentations and discussions.

Participants are expected to actively participate and share their experience. Good command of English is necessary.

Target audience

Experts working on payments and securities settlement systems, policy makers and other experts involved in the development of financial markets and their infrastructure; experts working on financial market regulation and others working in related fields.

Faculty

• Pauline Bacos, Expert in Financial Market Infrastructure Oversight, Payment Systems and Market Infrastructures Oversight Division, Banque de France

Pauline works as a payment systems expert within the team in charge of Financial Market Infrastructures Oversight at Banque de France. Prior to that experience, she was specialized in monetary policy implementation and collateral topics where she focused on issues related to the greening of monetary policy operations and contributed to several reports within the Network for Greening the Financial System. In the Oversight team, Pauline oversees French and European payment systems (such as CORE(FR), STEP2-T and TARGET2), while also contributing to policy questions related to payment systems and other FMIs. Pauline holds a Master’s degree in Finance and Strategy from Sciences Po Paris.

• Stéphane Gourdet, IBFI Seminar manager, Banque de France

Stéphane recently joined the International Banking and Finance Institute (IBFI) team. He was recruited by the Banque de France 25 years ago and has worked in different areas (IT projects, human resources, all lines of work of the Banque de France network: management control, risk management, financial inclusion, corporate credit risk assessment, cash circulation, safety and security…), before getting specialized in financial education and external cooperation. Before joining Banque de France, he first received a master degree in Mathematiques from Provence University.

• Rudolf Pataki, Head of Payment Systems Policy Section, Payment Systems Department National Bank of Slovakia

Rudolf is working on payment policy and oversight at the National Bank of Slovakia. His responsibilities include development of payment systems policy, oversight of payment systems, securities settlement systems and payment schemes, preparation of legislation in the area of payment systems and collection of statistical data on payment instruments and payment systems. He holds Masters in Economics from the Faculty of Economics and Management at the Slovak University of Agriculture in Nitra.

• Ľubica Dunajová, Payment System Department, National Bank of Slovakia

Ľubica specializes in TARGET2 payment system and is responsible for TARGET2 operational activities and implementation of T2-Securities, TIPS and T2-T2S Consolidation projects. Her agenda includes activities related to TARGET2 settlement manager role and the coordination of other departments activities to prepare the National Bank of Slovakia for current projects of the Eurosystem. Ľubica's experience includes the participation in several internal and Eurosystem working groups, the preparation of Slovak market participants and the preparation of operational and legislative documents related to the participation in TARGET2, T2S and TIPS.

Partners

This learning initiative was supported by: