Objective

Efficient and secure payment systems are fundamental to a stable financial system. The Bundesbank plays a central role in safeguarding and overseeing cashless payments in Germany, acting as a financial hub that provides settlement and clearing services, and actively contributing to the development of the Single Euro Payments Area (SEPA).

This course enables participants to deepen their understanding of payment and securities settlement systems. It provides an introduction to the state-of-the-art systems operated by the Eurosystem, namely T2, T2S, ECMS, and TIPS, and highlights the Bundesbank’s specific responsibilities and contributions within these infrastructures. In addition, the course covers the oversight function of central banks in the area of cashless payments, focusing on regulatory frameworks, risk management, and the promotion of secure and efficient payment systems.

The course is designed to equip participants with the knowledge and tools needed to enhance and refine payment and securities settlement systems in their home countries. Additionally, it provides valuable insights into current developments in this key area of central banking.

Active participation in discussions is expected.

Content

• Overview Eurosystem and TARGET Services
• TARGET Services: Focus on T2
• TARGET Services: Focus on T2S
• TARGET Services: Focus on TIPS
• Retail payments: current developments, innovations, and security
• Innovations in retail payments: competition, technology, and regulation
• Oversight of payment systems and payment instruments

Target group

The course is designed for mid-level and senior employees of central banks. A solid background in payment clearing and settlement issues is essential for constructive and productive participation in the course. Participants should be familiar with the payment system policy and practices applied in their home countries. They will be invited to take an active part in the discussions and case studies, covering topics such as T2S, oversight and innovations.