This workshop focuses on strengthening cash management processes and coordination between ministries of finance (treasuries) and central banks.

About this learning event

Efficient management and control of government's cash resources rely on government banking arrangements. Treasury Single Account (TSA) is a financial policy in use in several countries all over the world. It represents a unified structure of government bank accounts that gives a consolidated view of government cash resources. In this regard, TSA system could function on a single bank account or a set of interlinked bank accounts in which the fungibility of all cash resources in the system is ensured. We will discuss about the TSA system as such and explore benefits of such a system to other cash management systems.

At this workshop we will explore examples of Government cash management systems in various South European countries, with the aim to look from both ministry of finance’s and central bank’s perspective in their respective roles in managing fiscal and monetary policy.  We will compare those country systems through many aspects, for example:

• Coverage of the TSA system / other solutions of structuring government bank assets: the government institutions inside the TSA and to what extent cash flows of central government and general government sectors are captured in the TSA System. In this regard, budgetary and extra-budgetary government resources can take part in the TSA.

• Banking arrangements and operations: the location of the government bank assets, whether it is held at the central bank or a commercial bank and its components in terms of sub-accounts and the payment and collection systems.

• Forecasting TSA / government bank assets’ balances: the forecasting methodologies and systems utilized for projecting daily TSA/ government bank assets’ balances. In this regard, forecasting tools and infrastructure, forecasting horizon and frequency, top-down and bottom-up forecasting approaches. 

• Management of TSA / government bank assets’ balances: The approach and instruments utilized for investing the cash resources pooled in the TSA System.

• Relationships between the Treasury and Central Bank regarding TSA/government bank assets: The role of the central bank in operations, the MoUs or service level agreements between the Treasury and central bank regarding cash management operations, coordination and systematic or ad-hoc information sharing mechanisms between Treasury and central bank and the role of Treasury in the liquidity management of the central bank.

The focus of this workshop will evolve around issues and challenges observed among country practices. All participant will also have a chance to present their Government Cash management systems of their countries and share experience among themselves.

Target audience

Officials of finance ministries involved in budget execution and cash management; officials of central banks involved in managing government assets and monetary operations.

Faculty

This course will be delivered by:

• Marjan Divjak, Director General, Treasury Directorate, Ministry of Finance of Slovenia
• Ilyas Tufan, Director General of Debt Office, Ministry of Treasury and Finance of Turkey
• Barbara Jemec, Consultant Analyst, Banking for Customers, Banking Operations Department, Banka Slovenije
• Nina Jukić, Consultant Analyst, Liquidity Management and Collateral Division, Banking Operations Department, Banka Slovenije
• Yasemin Hürcan, Fiscal Affairs Department, International Monetary Fund
• Obert Nyawata, Monetary and Capital Markets Department, International Monetary Fund
• Ahmet Ismaili, General Director of Treasury, Ministry of Finance, Labor and Transfers of Kosovo
• Shkendije Nahi, Director, Asset Management Department, Central Bank of Kosovo
• Denalda Duro, Deputy Director and Head of Government Relation Sector, Monetary Operations Department, Bank of Albania
• Romeo Dimitru, Counsellor, General Directorate of Treasury and Public Debt, Ministry of Public Finance, Romania
• Pavel Pokluda, Czech National Bank

Practical information

The hybrid workshop will take place face-to-face and online. The f2f workshop will be 2.5 days long with interesting sessions each day available to the online audience.

Applications for f2f workshop: need to be submitted by March 14, 2022. 

Applications for online participation: need to be submitted by April 5, 2022.

Partners

This learning initiative was supported by: