International Financial Institutions and International Financial Relations (in English)

Syllabus

The course deals with the development of the international monetary system, the solution of the post-war organization of the international monetary system and the establishment of the IMF and the World Bank. It explains the position and functions of these institutions, their lending and development activities. It explains the reasons for the creation, function and position of regional development banks. It analyzes the European monetary system and the activities of the ECB. He deals with the financing of international trade. 1. Development of the international monetary system. Definition of the international monetary system. The gold standard and the interwar period. Bretton Woods system. The collapse of the Bretton Woods system. Exchange rate regimes. 2. International Monetary Fund. Basic facts. Goals. SR and IMF. IMF lending activity. Financial crises and the role of the IMF in resolving them. The future of the IMF. 3. World Bank Group. Basic facts. Goals. World Bank institutions - IBRD, IFC, IDA, MIGA. SR and the World Bank. Activities of the World Bank and its institutions. 4. Regional development banks. European Bank for Reconstruction and Development. Asian Development Bank. New development bank. Asian Infrastructure Investment Bank. Islamic Development Bank. Inter - American Development Bank. African Development Bank Basic facts. Goals. Examples of projects. 5. Bank for International Settlements. Basic facts. Goals. Basel principles and their importance in the regulation of the banking sector. 6. European Monetary Integration, European Central Bank. European Investment Bank. History and stages of EMU. Convergence criteria. The euro and its benefits. European System of Central Banks. Eurosystem. ECB, EIB - basic facts, goals, tasks. 7. Basic characteristics of international trade finance. Basic starting points for the implementation of international trade finance. Subjects. SWIFT and its importance for international financial relations. The role of banks and financial institutions in the international trade. 8. Payment terms, risk elimination, INCOTERMS delivery terms. Definition of payment terms. Definition of risks and possibilities of their elimination. Delivery terms and their role in international trade financing. 9. Non-documentary means of payment. Bills of Exchange. Institutional and legislative preconditions for the implementation of international payments. Definition of non - documentary payment instruments. TARGET and SEPA and their role in the international payment system. Bills of exchange and their role in international financial relations. 10. Documentary payment and guarantees. Documentary letter of credit as the most important tool of business financing. Practical use. Types of letters of credit. The role of documentary collection. Individual types of bank guarantees and their use. 11. Financing and lending in international trade. Definition of financial instruments. Financial analysis as a basic starting point for financing. Characteristics of individual types of loans and instruments of short-term (letters of credit, commodity finance, factoring), medium and long-term financing (export financing, forfeiting and leasing) 12. Money laundering and terrorist financing. Definitions. International initiatives in the fight against money laundering and terrorist financing. The role of the FATF and other international institutions. Legislation governing this area - EU Directives. 13. Innovation in international financial relations. Innovation in international payments - instant payments within SEPA and SWIFT. Innovation in International Trade - Trade Service Utilities (TSU). Bank payment obligation