Payments and FMIs (Part 2): Capacity building

Introduction to cross-border payments 

• History of cross-border payments and their challenges 

• Current use cases for the c orrespondent banking model 

• Pros and cons of p rivate solutions, including fintechs and global stablecoins 

Deep dive: instant payment systems 

• Review of the current instant payment system landscape 

• Possible examples: Pix (Brazil), UPI (India), QRIS (Indonesia) 

• Enabling cross-border functionality for domestic platforms via a n FX conversion layer 

• Increasing financial inclusion through speed, finality, and ease of access 

• Potential cyber risks and effects on monetary sovereignty 

Beyond payment systems: introduction to FMIs 

• Introduction to FMIs: key activities, operational hurdles, and risk management:   

• Central counterparties (CCPs) 

• FX and c ontinuous linked settlement (CLS)  

• Central securities depositories (CSDs) 

• Securities settlement systems (SSSs)