Published 1/2023
MP4 | Video: h264, 1280x720 | Audio: AAC, 44.1 KHz
Language: English | Size: 2.08 GB | Duration: 4h 23m
Gain working knowledge of the US's most widely used payment and settlement systems, including Fedwire, CHIPS, and ACH
What you'll learn
You will learn payments and settlement systems in the USA
You will learn components of a payment and settlement systems
You will learn basics of domestic payments processing
You will gain working knowledge of ACH
You will gain working knowledge of FEDWIRE
You will gain working knowledge of CHIPS
Requirements
No prior knowledge of payments systems or experience needed. We will start from the basics.
Description
Welcome to our course on Payments and Settlement Systems!Are you looking to gain a deeper understanding of the infrastructure behind financial transactions in the United States? This course is designed to provide an in-depth look at some of the US's most widely used payment and settlement systems, including Fedwire, CHIPS, and ACH.Fedwire is the Federal Reserve's real-time gross settlement (RTGS) service, which enables financial institutions to transfer funds between accounts almost instantly. CHIPS, or Clearing House Interbank Payments System, is the world's largest private-sector U.S. dollar-clearing system, run by The Clearing House (TCH) private. It is a real-time final settlement system that processes large-value transactions, with reduced liquidity requirements. ACH is an Automated Clearing House network that enables financial institutions to process bulk payments, such as direct deposits and preauthorized withdrawals, between businesses and individuals in the United States as well as electronic check processing.Throughout this course, you'll learn about the operations, processes, and risk management in these systems, and gain a solid understanding of how they are used in the world of finance. You'll also have the opportunity to explore scenarios that demonstrate the practical applications of these systems.This course is perfect for professionals working in finance, banking, and related fields, as well as anyone interested in learning more about the inner workings of the payments system. With our interactive learning materials, you'll be well-equipped to navigate the complexities of these payment and settlement systems with confidence.So, if you're ready to take your knowledge of financial transactions to the next level, sign up for our Payments and Settlement Systems course today!
Overview
Section 1: Introduction
Lecture 1 Introduction to payments and settlement system
Lecture 2 Basics of Payment and Settlement system
Section 2: The components of a payment and settlement system
Lecture 3 The components of a payment and settlement system
Section 3: Importance of the Payment systems
Lecture 4 Importance of the Payment systems
Section 4: Services of financial institutions and their relationship with payments
Lecture 5 Services of financial institutions and their relationship with payments
Section 5: Basics of Domestic Payments Processing
Lecture 6 Customer book transfers
Lecture 7 Bilateral arrangements between banks
Lecture 8 Transfer through a central counter party
Lecture 9 Transfer through multilateral net
Section 6: Participants of a CCP Clearinghouse
Lecture 10 Participants of a CCP Clearinghouse
Section 7: Classification of Payments
Lecture 11 Classification of Payments
Lecture 12 Classification based on transaction value and priority
Lecture 13 Classification based on the settlement method
Lecture 14 Classification based on the payment date
Lecture 15 Classification based on customer type
Lecture 16 Classification based on the originator's and beneficiary's location
Section 8: Regional Codes in the payment system (USA)
Lecture 17 Regional Codes in the payment system (USA)
Section 9: The three elements of payment systems
Lecture 18 The three elements of payment systems
Section 10: Types of clearing and settlement system
Lecture 19 Types of clearing and settlement system
Section 11: Charges of processing transactions Domestic and Cross-border
Lecture 20 Charges of processing transactions Domestic and Cross-border
Section 12: Payment through cheques
Lecture 21 Payment through cheques
Lecture 22 ACH Cheque conversion mechanism USA
Lecture 23 Operations of ACH & similar systems around the world
Section 13: ACH Operations through the NSS, Specific to USA
Lecture 24 ACH Operations through the National Settlement Service
Lecture 25 ACH History
Lecture 26 Terminologies related to ACH
Lecture 27 NACHA Standard Entry Class Codes
Lecture 28 SEC Codes list
Lecture 29 Originating Depository Financial Institution (ODFI) Activities
Lecture 30 Example of a direct debit transaction (pull transaction)
Lecture 31 Example of a credit transaction (push transaction)
Lecture 32 Receiving Depository Financial Institution (RDFI) activities
Lecture 33 Same-day ACH Settlement
Lecture 34 What is Phixius
Lecture 35 National Settlement Service (NSS)
Section 14: Fedwire
Lecture 36 Fedwire system introduction
Lecture 37 The Federal Reserve System
Lecture 38 Terminologies specific to the US
Lecture 39 Fedwire Message codes and Definitions
Lecture 40 Using the Fedwire services
Lecture 41 Schedule for processing online messages
Lecture 42 Schedule for processing offline messages
Lecture 43 Conditions for time extension
Lecture 44 Transactions through the Fedwire system
Lecture 45 Liquidity management in the Fedwire system
Lecture 46 Interest charged for intraday liquidity
Lecture 47 Fedwire ANSI messaging
Lecture 48 Fedwire Market Practice to Support SWIFT GPI
Lecture 49 Fedwire's Account Management Information (AMI) application
Lecture 50 Fedwire Transfer volume-based pricing structure
Lecture 51 Fedwire Surcharges
Section 15: CHIPS
Lecture 52 CHIPS (Clearing House Interbank Payments System)
Lecture 53 Terminologies related to CHIPS
Lecture 54 CHIPS schedule for pre-funding, processing, and settlement
Lecture 55 Risk Management in CHIPS
Lecture 56 Mechanism of pre-funding
Lecture 57 The primary pre-funding process
Lecture 58 The supplemental pre-funding process
Lecture 59 The final pre-funding and settlement process
Aspiring and existing payment professionals,Banking professionals,Fintech Professionals,IT Professionals
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