Specialized Training Courses
Overview
Supervision
U.S. Monetary Policy Implementation
Risk Management and Internal Audit
Payments and Market Infrastructure
U.S. Economy: Interpreting the Indicators
The Central Bank Lawyer
Management in the Central Bank
U.S. Dollar Liquidity Management and Payment Operations - Cosponsored With The World Bank

Overview

In addition to the Central Banking Seminar, the Bank also offers specialized courses. The topics for these courses include: Supervision, Monetary Policy, Management, Operational Risk, Payments and Market Infrastructure, the U.S. Economy, and Portfolio Management. These programs are held in the spring and the fall and at least two of them are offered during both training sessions. The courses last for three or four days and may run concurrently. The specialized courses feature in-depth presentations by experts from the specialty areas and, in selected instances, speakers from outside the Federal Reserve Bank of New York. Course content is updated regularly to meet evolving central banking issues and challenges.

Beyond the technical information covered in the specialized courses, the programs’ collegial environment offers participants extensive opportunities to network at all levels. Participants interact with the speakers and other Federal Reserve Bank officials both during sessions and informally at luncheons, receptions, and other gatherings. Individual appointments with officials in the financial community can also be arranged so that course attendees can pursue topics in greater detail.

The specialized courses draw together central bankers from the advanced and emerging economies on a common footing. Participants meet and establish personal contact with colleagues from around the world. Through these contacts, they can explore how others cope with universal challenges.

For Participants:
Please note that our specialized courses are limited to central bankers and financial supervisors. In addition, we must receive an endorsement from the governor, chief executive, or head of training department of your institution before we review your application. Questions regarding the specialized courses should be directed to our International Seminars and Training department at international.training@ny.frb.org.

Frequently Asked Questions

Supervision

The course on Supervision is designed for international financial supervisory specialists. It provides an overview of how the Federal Reserve System carries out its supervisory responsibilities, emphasizing risk focused supervision and key risk dimensions, including market, liquidity, operational and credit.

Fall Program
October 7-10, 2019

Spring Program
May 2020

2019 Supervision Course Agenda

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U.S. Monetary Policy Implementation

The U.S. Monetary Policy Implementation course covers conventional central banking operations as well as the Fed's tools introduced during the 2007-2008 financial crisis. Participants visit a primary dealer to observe market operations from the private sector perspective. The course is highly interactive and intended for monetary policy practitioners.

Fall Program
October 7-11, 2019

Spring Program
May 2020

2019 US Monetary Policy Implementation Course Agenda

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U.S. Economy: Interpreting the Indicators

The U.S. Economy: Interpreting the Indicators course reviews the use of primary U.S. data series in preparing judgmental forecasts of the American economy. It describes the data production and release processes, examines the longer-run and cyclical movements in the series and discusses how forecasts are altered in the light of events. Participants should have knowledge of basic undergraduate macroeconomics.

October 8-10, 2019

2018 US Economy Course Agenda

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The Central Bank Lawyer

This is a new two-day course that explores what it means to be a central bank lawyer. The agenda will focus on the legal aspects of current issues of common interest among central bank lawyers.

October 21-22, 2019

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Management in the Central Bank

The Management in the Central Bank course covers the management challenges unique to central banks.  The program will include an in-depth look at strategic planning, transparency, budgeting, accountability, human resources and risk.  It is intended for central bankers who are or will become involved in the general management and administration of their institutions.

October 22-24, 2019

2018 Fall Specialized Course Agenda

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U.S. Dollar Liquidity Management and Payment Operations - Cosponsored With The World Bank

In managing foreign currency reserves and cross-border payments, every central bank is necessarily investing in short-term money markets and seeking to align their front to back office operations with industry best practices. This program is designed to provide a detailed review of USD short-term instruments, USD payment flows, and the infrastructures that support these markets. In addition, the evolving risks in liquidity management and payment operations will be explored with special attention to the sound practices that can be followed to mitigate them. Participants will be expected to take an active role in driving the discussion and sharing lessons learned from their respective institutions. Speakers include officials from the New York Fed, World Bank, other official sector institutions, and the private sector. This course also includes a participants panel discussion.

October 21-24, 2019

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Risk Management and Internal Audit

The Risk Management and Internal Audit course explores key risk management and internal audit practices within the central bank. The course covers key risk management roles and responsibilities; operational and technology audit processes and related risk assessments, governance structure; and risk management frameworks.

Spring Program
May 2020

2019 Risk Management and Internal Audit Course Agenda

Payments and Market Infrastructure

The Payments and Market Infrastructure course covers a broad range of topics within the payments, clearing, and settlement (PCS) landscape. The course explores the various roles a central bank can hold and the potential tools it may use to enhance the safety and efficiency of PCS activities, with an emphasis on the Federal Reserve’s policies and approach to oversight. The course also provides an overview of the functions, design, and risk management practices of major large-value PCS systems in the United States.

Course participants will have the opportunity to work in small groups, where participants will work together to address a defined PCS-related topic.

Spring Program
May 2020

2019 Payments and Market Infrastructure Course Agenda

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