Claiming Back Your VAT
All attendees of a London based course incur VAT as a part of the cost of attendance.
Euromoney Learning have partnered with VAT IT to allow you the unique opportunity to recoup the VAT incurred.
Using VAT IT's extensive experience and simple sign-up and refund process, every invoice can be turned into cash for your business.
Claim the VAT that's rightfully yours in four simple steps:
1. Register your interest
2. Sign a few simple documents
3. VAT IT processes your claim
4. Receive your refund
Why choose VAT IT
VAT IT have spent two decades identifying, researching and perfecting the foreign VAT Reclaim process and built the best back end technology in the industry. By partnering with Euromoney Learning, we can provide you with a fast and effective way to reclaim your VAT which helps reduce the cost of your training.
VAT IT will charge a percentage of the VAT refund if/when it is successful.
Can I claim back the VAT myself?
You can claim back VAT directly from the UK Tax Authority (HMRC) by completing the following form.
For European clients, please refer to form VAT 65.
All other clients, please refer to form VAT 65A.
You may also be able to claim back your VAT against courses taking place outside of the UK, and we would recommend contacting VAT IT, our specialist partner, to discuss how to do this.
Bank Applications of Derivatives
This course forms module 2 of the School of Derivatives (5 day programme)
Bank Applications of Derivatives (Module 2)
This five day School of Derivatives provides you with a thorough understanding of the derivatives market for both OTC and exchange-traded instruments. It focuses on how banks use derivatives to manage their own exposures and to provide practical solutions to their customers.
You can attend both modules of this School of Derivatives to enjoy most benefit or pick from the following modules.
Module 1: Fundamentals of Derivatives (Day 1-Day 3), is a comprehensive overview of the major classes of derivatives, distinguishing between linear and non-linear derivatives.
Module 2: Bank Applications of Derivatives (Day 4-Day 5) explains, by way of specific examples, how banks use derivatives for their own and their customer benefit. The first part looks at specific solutions for customers and focuses on the role of swaps in the primary issuance business, and managing customer FX exposures; whilst the second looks at financial engineering, and more specifically, at how derivatives can be used to reduce funding costs and/or as a means of the bank earning fees without taking a proprietary position, whilst at the same time providing investors with instruments that meet their risk/reward requirements.
Summary of course content
- How and why are derivatives used in practice?
- The difference between exchange-traded and OTC derivatives?
- Clearing procedures for exchange-traded derivatives
- Understanding the principal money market derivatives and how they are used to manage interest rate risk
- Swaps and how banks and other institutions use them
- Prima on options and their application in the management of FX risk
- How derivatives are embedded in common structures to provide investors with attractive risk/reward profiles
This programme is approved for listing on the Financial Training Scheme (FTS) Programme Directory and is eligible for FTS claims subject to all eligibility criteria being met.
Please note that in no way does this represent an endorsement of the quality of the training provider and programme. Participants are advised to assess the suitability of the programme and its relevance to participants' business activities or job roles.
The FTS is available to eligible entities, at a 50% funding level of programme fees, subject to a cap of $2,000/participant/programme and all eligibility criteria being met. FTS claims may only be made for programmes listed on the FTS Programme Directory with specified validity period. Please refer to www.ibf.org.sg for more information.
Please note that this course is only eligible for FTS Funding when registering for all module
Bank Applications of Derivatives (1)
Session 1 Delivering Customer Solutions (1): Using Swaps in Primary Bond Issuance
- Market structure
- Inter-bank v customer market
- Broker quotes in the inter-bank market
- Why a swaps market exists
- Linking the securities market place and loan market
- Using IRS to alter corporate liability profiles
- Understanding the motivation for swapping from fixed financing to a floating liability
- Swaps and price discovery in the primary market: Calculating the “all-in” funding cost as a spread over LIBOR
- Using currency swaps to manage liability structures
- Using swaptions and interest rate caps to secure lower floating rate funding costs
- Miss-uses of derivative products aimed at SMEs: Best practice
Case Study: Delegates will compare funding alternatives for a company
Session 2 Delivering Customer Solutions (2): Providing Tailored Hedge Programmes for Customers’ FX Exposures
- Understanding typical corporate FX exposures
- Managing FX exposures with FX forward contracts
- The problem with “forward only” cover
- FX option primer
- Using vanilla currency options to retain the up-side
- Tailored solutions for non-financial institutions: Creating zero premium products with option combinations
- Collars, range-forwards, forward-bands and cylinders
- Participating forwards
- Ratio forwards
- Break-forwards, FOXs and forward reversing options
- Introducing more innovative solutions: using “exotic” options to reduce hedging costs
- Introduction to barrier options
Case Study: Delegates will propose a suitable hedging strategy for a corporate with FX exposures DAY 5
Bank Applications of Derivatives (1)
Session 1 Financial Engineering with Derivatives
- Primary motivations for structuring
- Securing cheaper funding
- Providing attractive risk/reward profiles for investors
- Earning fee income
- The structuring process
Session 2 Delivering Cheaper Funding: Inverse Floating Rate Notes
- Investor perspective
- Understanding the structure
- Variations on a theme
- Deferral period
- Adding a minimum rate
- Adding leverage
- Pricing and valuation
- Hedging the issuer exposure
- “Super-floater” FRN’s
Case Study: Delegates will construct a deferred reverse floating rate note, identifying appropriate parameters, and identifying the “hedge” required by the Issuer to ensure LIBOR based financing
Session 3 Targeting the Retail Market: Capital Guaranteed Notes & High Income Products
- Understanding the process and distribution channel
- Who takes the risk
- Constructing a capital guaranteed note
- Introducing a cap and other common variations
- High income products
- Selling puts to increase income
- The listed certificate market
- Auto-callable structures
Case Study: Delegates will critically analyse a recent World Bank equity-linked note from the perspective of issuer and investor
Our Tailored Learning Offering
Do you have five or more people interested in attending this course? Do you want to tailor it to meet your company’s exact requirements? If you’d like to do either of these, we can bring this course to your company’s office. You could even save up to 50% on the cost of sending delegates to a public course and dramatically increase your ROI.
If you want to run this course at a location convenient to you or if you want a completely customised learning solution, we can help.
We produce learning solutions that are completely unique to your business. We’ll guide you through the whole process, from the initial consultancy to evaluating the success of the full learning experience. Our learning specialists ensure you get the maximum return on your training investment.
We have a combined experience of over 60 years providing learning solutions to the world’s major organisations and are privileged to have contributed to their success. We view our clients as partners and focus on understanding the needs of each organisation we work with to tailor learning solutions to specific requirements.
We are proud of our record of customer satisfaction. Here is why you should choose us to help you achieve your goals and accelerate your career:
- Quality – our clients consistently rate our performance ‘excellent’ or ‘outstanding’. Our average overall score awarded to us by our clients is nine out of ten.
- Track record – we have delivered training solutions for 95% of worlds’ top 100 banks and have trained over 250,000 professionals.
- Knowledge – our 150 strong team of industry specialist trainers are world leading financial leaders and commentators, ensuring our knowledge base is second to none.
- Reliability – if we promise it, we deliver it. We have delivered over 20,000 events both in person and online, using simultaneous translation to delegates from over 180 countries.
- Recognition – we are accredited by the British Accreditation Council and the CPD Certification Service. In an independent review by Feefo we scored 96% on service and 95% on product
Marriott County Hall
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