Payments and FMIs (Part 1): Capacity building
About the course
Participants on this course will delve into the evolving landscape of payment systems and financial market infrastructures (FMIs). The training will address the implications of operational, cyber, and geopolitical risks on payment frameworks and highlight best practices for enhancing resilience. Key topics include the evolution of Real-Time Gross Settlement (RTGS) systems, the potential role of Central Bank Digital Currencies (CBDCs), and the regulatory challenges associated with stablecoins. This engaging course will equip participants with the essential tools and knowledge to understand the complexities of modern payment systems.
Tutors
Evaldas Ruzgys, Member of the board, Bank of Lithuania
Evaldas Ruzgys started his professional career in 2002 at the then AB bank NORD/LB Lietuva and held various positions at AB bank HANSABANKAS, AB DnB NORD bank and AB DNB bank until 2013. In 2013–2020, he was the Head of the Digital Channels Department for the Baltics at AB DNB bank and its successor Luminor Bank AB.
In 2020–2023, Ruzgys was a freelance technology and business consultant and implemented projects for the State Enterprise Centre of Registers, UAB Žemės ūkio paskolų garantijų fondas and fintech companies. He started his career at Lietuvos bankas in June 2023 as the Director of the Market Infrastructure Department.
Ruzgys holds a MSc in Finance and Banking and a BSc in Economics from Vytautas Magnus University in Kaunas.
Marianne Bechara, Senior Counsel, Legal Department and Fintech Department Supervisor, IMF
Paolo Bramini, Manager, payment systems directorate, Bank of Italy
Agenda
Welcome and context-setting
- Speaker introductions
- Course overview
Introduction to new-age payment systems
- Basic evolution of payment principles
- Current landscape: RTGS and cross-border payments
- Implications of operational, cyber, and geopolitical risks
RTGS: improving domestic and cross-border systems
- 24/7 RTGS: maintaining fast and efficient settlement systems
- Safeguarding against outages and attacks
- Ongoing developments to ISO 20022 framework
- Collaborative approaches to cross-border transactions
CBDCs: central bank money in the digital age
- Risks to CBDC infrastructure and monetary sovereignty
- CBDCs’ role in resilient and diverse payment systems
- Retail vs wholesales CBDCs
- Existing regulatory frameworks and key governance risks
Stablecoins: balancing trust with innovation
- Increased payment efficiency: reduced costs and enhanced speeds
- Value fluctuations and risks to macro financial stability
- Varied international regulatory approaches
- Recent policy recommendations
The future landscape of interoperable systems
- CBDCs vs instant payments
- Interoperability across payment system providers and geographies
Closing remarks
- Course summary
- Closing remarks
Learning objectives
Understand the current payment system landscape
Explore ongoing developments to RTGS systems across the globe
Evaluate the role of CBDCs for central banks
Assess regulatory challenges associated with stablecoins
Examine future trends towards interoperable payment systems
Who should attend
- Directors of payments and market infrastructures
- Heads of payments systems oversight
- Heads of market infrastructure development/management
- Heads of retail payment instruments
- Heads of clearing and settlement
- Payment systems officers
- Chief strategy officers
- Directors of monetary policy
- Policy analysts
- Heads of innovation/fintech/digital currency
- Heads of technology risk supervision
- Clearing houses and local regulators
