Duration

4 days

Deadline for application

6 December 2024

Objective

The aim of the course is to help central bank colleagues identify and discuss measures to strengthen their respective national financial market. We will use the difficult situation//position of Germany in the wake of the Second World War as a starting point and examine various initiatives that were taken to build and expand the financial market. Comparisons with other countries as well as a critical analysis of measures taken in participants’ own countries are desired.

The financial market in Germany is one of the most developed worldwide. Multi-faceted and highly liquid, its rise is attributable to the combined efforts of a number of players. The Bundesbank has played a key role in establishing and promoting this development. Together with the Federal Ministry of Finance, the market supervisory authority and other market participants, it supported the emergence of a national bond market, which was a decisive factor for the development of other financial market segments and the macroeconomic success of Germany.

The course will focus on key issues presented by building a monetary and bond market based on a national currency. The issues we will discuss include the general framework for the bond market (e.g. issuance calendars, auction processes, settlement procedures). The course also provides participants with a platform to reflect and discuss how analogies can be drawn to developments in their own national economies. The content will be presented using a mix of lectures, case study exercises, group discussions and participant presentations.

The course will provide an overview of the various aspects that played a key role in the development of the German financial market.

Content

• Historical and current developments strengthening the financial market (e.g. standardisation of bonds, Central Capital Market Committee, temporary capital market restrictions)
• Legal framework of the bond market
• Market surveillance and market restrictions
• Development and application of financial support measures

Target group

The course is aimed at mid-level central bankers who are active in the area of financial market development and would like to get an overview and a deeper understanding of strategic and operational approaches to developing financial markets. Applicants should have at least two years of practical experience in the field of financial market development and should have a sound understanding of key concepts and knowledge of the fundamentals of financial market structures and operations. Participants are expected to make an active contribution to the course and to share their knowledge and experiences with their peers.

Please note 

A nominating person is mandatory for the participation in our in-person courses.