21 Jul EUROPEAN CENTRAL BANK (ECB) AS CATALYST IN PAYMENTS: DRIVING PAYMENTS INNOVATION & SAFEGUARDING THE FUTURE
This course offers a comprehensive introduction to the European Central Bank (ECB), its organizational structure, and its multifaceted role in the European financial system. Participants will explore the ECB’s key functions with a focus on payments:
i) as an overseer, ensuring the smooth functioning and resilience of payment systems by monitoring payment systems to ensure compliance with regulatory frameworks and mitigate systemic risks
ii) as a catalyst, driving innovation and advancing the future of payments by driving the adoption of innovative technologies like instant payments and exploring advancements such as the digital euro and,
iii) as an operator, managing critical payment infrastructures like TARGET services that underpin Europe’s financial ecosystem. Special emphasis will be placed on how the ECB addresses risk management and cybersecurity, safeguarding payment systems against threats while fostering trust and stability in the digital economy.
Given the prominence of such infrastructures, with some of them settling on a daily basis approximately €2 trillion, significantly exceeding the European Union’s GDP, a key focus will be on the ECB’s approach to risk management and cybersecurity, which are essential to safeguarding payment systems against operational disruptions and emerging threats in an increasingly digitalized world. The course will delve into how the ECB collaborates with financial institutions, policymakers, and private stakeholders to enhance resilience, foster trust, and promote seamless cross-border payments, ensuring the reliability of Europe’s financial infrastructure in the face of evolving challenges.
FRANCISCO (PACO) TUR HARTMANN
Francisco Tur Hartmann joined the European Monetary Institute, the forerunner of the European Central Bank, in May 1995. With more than 30 years of experience in Market Infrastructures, Francisco has been conducting policy work aiming for further harmonisation and integration of financial market infrastructures at European and global level. He is currently leading the division which provides transversal services to the market infrastructure projects operated by the European Central Bank (ECB). This, inter alia, includes the Cyber resilience of the ECB’s Market Infrastructures. Francisco holds a master’s degree in computer science from Universidad Autónoma de Barcelona (Spain).
Skills
Here are the four most relevant learning objectives for the course, focusing on the core concepts and skills participants should take away:
1. Understand the ECB’s mandate and more in depth its oles in Payment Systems: Participants will clearly articulate the ECB’s three key functions as an overseer, catalyst, and operator, and their importance in ensuring the stability, efficiency, and innovation of European payment systems.
2. Analyze the Functioning of TARGET Services: Learners will examine the operational significance of the TARGET Services as the unique systems that settle cash and securities in central bank money.
3. Evaluate the ECB’s Approach to Risk Management and Cybersecurity:
4. Participants will learn how the ECB identifies, mitigates, and manages risks such as operational disruptions and systemic threats.
5. Explore Payments Innovation Led by the ECB: Learners will analyze the ECB’s initiatives in driving innovation, including fostering instant payments, exploring advancements like the digital euro, and collaborating with stakeholders to shape the future of payments.
Schedule
Which dates?
03-mar
10-mar
17-mar
07-apr
14-apr
21-apr
What day?
WEDNESDAY
What time?
14.30-16.00
