Payment and securities settlement systems

Deadline for application

26 January 2024


Efficient and secure payment systems are the foundation of a stable financial system. The Deutsche Bundesbank secures and monitors cashless payments in Germany as a financial hub, provides settlement and clearing services and plays an active role in the further development of the single European payment system. In this course, participants will deepen their knowledge of payment and securities settlement systems and will be introduced to the current state-of the-art technology at the Bundesbank and within the EU. The course is designed to help participants enhance and refine the payment and securities settlement systems in their home countries in a targeted manner, as well as to give them new insight into developments in this important area of central banking. Participants will be expected to make an active contribution to the discussions.


  • Role of the Bundesbank in payment and settlement systems
  • Payment system analysis
  • Retail payments: current developments, innovations and secure retail payments
  • TARGET2: individual payment services at the Bundesbank
  • TARGET2-Securities (T2S)
  • Collateral management system
  • Oversight of payment systems and instruments
  • Workshops on T2S, innovations and oversight

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 country. Additionally, they will be invited to take an active part in the discussions and case studies, covering topics like T2S, oversight and innovations.

Technical requirements

Computer with microphone, camera, speakers or headphones; an up-to-date internet browser

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