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FINANCIAL MARKET COURSES

Interbank Market

Money markets play a key role in the economy of every country, and the interbank market in particular is the lifeblood of the money markets in those countries. This course focuses on banks and their role in the interbank money market. The structure of the wholesale money markets is examined, as well as the relationship that banks have with each other in terms of credit and their ability to manage currency payments. The course also describes some of the practicalities associated with trading and settlement in the interbank market.

  • OBJECTIVES

    On completion of this course, you will be able to:

    Recognize the global nature of the interbank market and how it functions in that context

    Identify some of the practicalities associated with the interbank market, including intraday deadlines, day count conventions, and interbank payments/settlements

    Recognize the importance of appropriate credit risk assessments in the interbank market and the key elements involved in such assessments

  • COURSE OUTLINE

    Topic 1: Global Perspective

    What Is the Interbank Market?

    Requirements for an Effective Interbank Market

    Currencies

    Settlement Deadlines & Timing Issues

    Counterparty Credit Risk (CCR)

    Topic 2: Market Mechanics

    Day Count Conventions

    o Value Date Adjustments

    Interbank Payments/Settlements

    o USD

    • Fedwire

    • CHIPS

    o EUR

    • TARGET2

    • EURO1

    o GBP

    • RTGS Infrastructure

    • CHAPS

    • CREST

    o Other Currencies

    o Continuous Linked Settlement (CLS)

    Topic 3: Interbank Credit

    Interbank Credit Assessment

    o Assessment Framework (“CAMELS”)

    • Capital

    • Assets

    • Management

    • Earnings

    • Liquidity

    • Sensitivity to Market Risk

    Secured Lending

    o Central Clearing

    Market Players & Credit Assessments

    o Banks

    o Nonbank Institutions/Corporations

    o Pension & Money Market Funds

  • PREREQUISITE KNOWLEDGE

  • ESTIMATED COMPLETED TIME

    60 Minutes

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