FMI and Fintech: Oversight and Innovation in Payments and Settlements
01 - 01 Jan, 1970
To Be Determined;
In 2022, CBDCs, crypto assets and stablecoins are revolutionising payments. Traditional methods of settlement increasingly seem outdated. Innovation in financial technology is re-drawing the contours of the oversight landscape. New players, new risks, new products, new networks.
Central banks risk falling behind if they do not react to these new developments. The question for overseers is how to strike a balance between promoting innovation, encouraging competition and protecting the financial system.
This course is designed to equip central bankers to meet these challenges. Each day will feature three hours of expert-led Live Content to maximise the opportunity to share and learn. The chair will ensure participants have opportunities to network throughout the course, culminating in a workshop on practical implementation.
By the end of the course, participants will be able to:
- Understand the key challenges FMIs are facing from fintech
- Assess the opportunities for improving cross-border payments
- Gain insight into how oversight frameworks are changing
- Understand how to encourage innovation through sandboxes, incubators and accelerators
- Apply network analytics to FMI design and oversight
This course is designed to equip central bankers to meet these challenges. Each day will feature three hours of expert-led Live Content to ensure a range of perspectives on key topics. The course chair will ensure participants have opportunities to network throughout the course, with time set aside for a workshop on implementing recommendations, to maximise the opportunities to share and learn.
Course introduction session led by the chair
- Introductions and welcome from the chairperson
- Overview of the training course
- Discussion of the delegate expectations
Impact of technology on the oversight framework: key challenges in focus
- The state of the art of financial technology in 2022
- Key forces, trends and dynamics shaping financial market innovation
- Unavoidable risks, critical challenges and emerging opportunities
- Discussion: how do central banks need to change to make the most of fintech?
NewTech: new technologies that might be useful in finance
- What is currently being implemented?
- NewTech and quantum computing
- Opportunities for quantum computing in finance
- Quantum computing for central banks
CBDCs, stablecoins and crypto assets: what are the implications for payments and settlements?
- Differences and overlaps between privately issued crypto assets and central bank digital currencies (CBDC)
- Building blocks of effective regulatory and supervisory frameworks for privately issued crypto assets
- Implications of CBDCs for financial stability, payments and settlements
- Discussion: do CBDCs represent a realistic and desirable goal?