National Payments and Security Settlement Systems
To provide participants’ with an understanding of the policy, framework and regulatory issues in a national payment system (NPS). Further, the course will expose participants’ to the basic concepts, components of the NPS, the payment system landscape, clearing and settlement, regulatory landscape, payment instruments and standards. To ensure the safety and efficiency of entire payment system of the country and ultimately financial stability by monitoring payment
systems operating on an on-going basis, assessing systems’ features and inducing change when necessary. Payment systems also support the central bank’s monetary policy through settlements and systemic liquidity management which supports transmission of policy
actions to the economy as a whole.
The course focuses on current developments in the structure and
operations of payment systems (including current state-of-the art payment systems), system interdependence, risk identification and mitigation, and the critical roles of central banks. The course also introduces participants to internationally recognized standards for sound and efficient payment systems and principles of financial market infrastructures.
Learning Objectives
- Co-operative oversight with other central banks, domestic and cross-border authorities.
- describe detailed operations of large- value payment systems, retail payment systems, and securities settlement system;
- ensuring that critical attention is given to risks reduction and management in the design and operation of payment systems;
- promoting the safety, security, soundness and reliability of payment systems,
- payment infrastructures and payment instruments used by the public; and
- maintaining the public’s confidence and interest in money and payment systems.
- ensuring the effectiveness and reliability of the payment system and its conformity with legal provisions;
- maximizing the efficiency of payments clearing and settlement arrangements;
- pursuing public interest in payment system arrangements;
- explain the increasing importance of system interdependence;
- identify risks in payment systems activities and determine risk mitigation tools/strategies;
- explain critical roles of payment systems in safeguarding monetary and financial stability; and,
- explain rationales of international standards.