Payments Systems In The Usa: Fedwire, Chips, And Ach

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