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Reclaim the VAT on your Euromoney Training Courses in the UK

Why am I being charged VAT?
The EU VAT Directive stipulates that all training and educational courses that are provided in the UK must include a VAT charge on payment.  

Can I reclaim my VAT back?
Overseas delegates who attend our courses in the UK are eligible to claim their VAT back once it has been paid.    

How can I claim the VAT back paid on a course?
There are two ways in which you can claim back VAT back from the UK.

Option 1 - Directly through HM Revenue and Customs

The most cost-efficient way is to 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.

Option 2 - Through our Recommended VAT Reclaim Service – VAT IT
The specific rules for VAT reclaim will vary according to the laws of your country of residence. This can be complicated and time-consuming. 

Euromoney have an exclusive partnership with VAT IT, specialists in international VAT reclaim.  VAT IT will review, process and submit your VAT refund on your behalf. 

VAT IT will charge a percentage of the VAT refund if/when it is successful. 

If you want to find out more about this service, please email your details to: euromoney@vatit.com  

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.

RECLAIMING YOUR VAT WITH VAT IT

Course details

  • Date
    08-10 Oct 2018
  • Duration
    3 days
  • Price
    £3395 +VAT
Download course brochure

Liquidity Risk Management

Learn the best practices in measuring, managing & controlling liquidity risk
  • The global financial crisis revealed that a far more stringent approach to Liquidity Risk Management was required across the industry. This was further reinforced by the inclusion of a formal liquidity regime within the Basel III Accords for the very first time.

    Using real-life case studies and excel based simulations, this intensive 3 day workshop explains how liquidity risk is effectively measured, assessed and managed. It will consider the impact that regulation has had on the value/cost of liquidity and the role of Funds Transfer Pricing in ensuring this is reflected in asset pricing.

    By the end of the course, you will be better equipped to work in or with the Liquidity Management function and achieve optimal levels of liquidity.

    Learning outcomes:

    • Understand the issues relating to liquidity risk management
    • Define the sources and types of liquidity risk and how it is measured
    • Understand the need for intraday liquidity and how it is regulated Evaluate the potential impact of liquidity risk on Return on Equity
    • Calculate Liquidity Coverage Ratio and Net Stable Funding Ratio and discuss potential optimisation strategies in light of them
    • Recognise best practice in terms of Individual Liquidity Adequacy Assessment Process and Stress Testing
    • Explain the role of Funds Transfer Pricing in Liquidity Risk Management
  • Day 1

    Defining and Assessing Liquidity Risk
    • Lessons from a crisis
    • Defining Liquidity Risk
    • Causes of the credit crunch, how funding costs varied during it, gaps in liquidity risk management and failures due to it
    • What restored confidence – co-ordinated global central bank intervention
    • The market place today and how funding portfolios have changed
    Defining and Measuring Liquidity Risk
    • Types of Liquidity Risk – Funding and Market
    • Classical Measures of Liquidity Risk – Loan to Deposits Ratio and VaR
    • Modern measures of Liquidity Risk – LCR, NSFR and Liquidity Adjusted VaR
    • Analysing Gap Risk
    Intraday Liquidity Management
    • Evaluating IntradayLiquidity Requirements
    • Sources of Intraday Liquidity Funding
    • Overview of BIS 248 – Key Requirements
    • Challenges in implementation and potential strategies fro optimisation
    Net Interest Income [NII] and Return on Equity [RoE]
    • Recap on Standardised Approach for Credit Risk and Basel III Capital Regime
    • Gearing Linking NII to RoE
    • Impact of the Leverage Ratio
    • Consequences of Liquidity Buffer yields

    Day 2

    Liquidity Regulation
    • Liquidity Coverage Ratio (LCR) Part 1
    • Defining LCR and the regulators ambition for it
    • The numerators – what qualifies as ‘HQLA’ and the rules that apply for Level 1, 2a and 2b
    • The denominator – outflows for deposits, undrawn commitments and allowed inflows
    • Challenges in data segregation/implementation and potential balance sheet/ product optimisation strategies
    Net Stable Funding Ratio (NSFR)
    • Defining NSFR and the regulators ambition for it
    • The numerator - what qualifies as and allowances for Available Stable Funding
    • The denominator – what qualifies as and charged for Required Stable Funding
    • Impact of NSFR on banks costs and strategies
    Beyond Pillar 1 - The Individual Liquidity Adequacy Assessment Process
    • Overview of the Liquidity Supervisory Review and Evaluation Process
    • Purpose and Governance of the ILAAP
    • Transition from ILAA to ILAAP
    • Managing and testing High Quality Liquidity Assets buffers
    Beyond Pillar 1- Stress Testing
    • 5 Steps of Stress Testing
    • Stress-tests: key scenarios relating to business activities, products and portfolio
    • Pragmatic considerations in stress testing e.g. controlling pipeline
    • Resolution Planning

    Day 3

    Funds Transfer Pricing [FTP]

    Role of Funds Transfer Pricing [FTP] in Liquidity Risk Management
    • Defining FTP
      • What is it?
      • Why have it?
    • Evolution of FTP methodologies
      • Zero cost curve
      • Average cost curve
      • Maturity matched curve
    • The regulatory view
    • FTP as an appetite statement/rudder to steer the ship
    Deriving the FTP Curve
    • Market sources and proxies
      • Secondary Trading
      • CDS
      • Peer spreads
    • Use of basis and cross currency swaps
    • Ownership and governance

    Role of FTP in Deposit Portfolio Management
    • Methods for ‘Behaviouralising’ of deposits portfolios
    • Having confidence in behaviouralisation - Importance of governance
    • Combining FTP curve with behaviourlisation
      • Stock/ Flow FTP curve blending 
      • Adjusting for buffers
      • Risks of un-wind
    • Driving behaviours 
      • Importance of communication
      • Aligning business incentivisation
      • Tools/products to optimise
    Looking ahead and wrap up
    • Total Loss Absorbing Capacity [TLAC]/Minimum Requirement for Eligible Liabilities [MREL]
    • Overview of Basel IV – focus on consistency
    • What does this mean for liquidity risk management
    • 3 days in 15 minutes – review of key points from the program
  • 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.

    Our Tailored Learning Offering

    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
This course can be run as an In-house or Tailored Learning programme

Instructor

  • Gareth Vance

    Biography

    Gareth’s banking career spans more than two decades. From 2010 to 2014 he was Head of Barclays Corporates £110 billion liquidity portfolio, tasked with the end-end ownership of pricing and structuring of the portfolio and ensuring that margins were achieved whilst delivering funding ambitions and regulatory requirements. In parallel to this role from 2012 to 2013, Gareth was Co-Head of the Liquidity Management group (50 FTE and £1bn pa business), sitting on the Corporate ALCO and Global Treasury board and worked with treasury colleagues on the adaptation of Basel III/CRD IV within the Corporate Bank - with a particular focus on LCR/Buffer optimisation. Previous to this, Gareth had senior roles within risk solutions at Barclays, where he collaborated with corporate and investment banking colleagues in structuring and marketing bespoke hedging solutions to corporate clients. Prior to Barclays Gareth spent 10 years at Citi where he worked as a Short Term Interest Rate Trader. During that time he made markets and took proprietary risk in G10 currencies against a backdrop of often significant economic turmoil including the Tiger Crisis, formation of the EUR and implosion of the ‘dot com’ bubble. Since leaving Barclays in 2014 Gareth has been consulting on Asset and Liability management, in particular has been focused on the ‘so what’ of Basel III- looking at overcoming challenges in implementing it, it’s impact on Net Interest Margin and ultimately bank strategy. His ciients to date include Barclays, HSBC, Deutsche Bank, RBC, Credit Suisse, ING, Saudi Hollandi Bank, the Bank of England and Central Bank of Ireland, Saudi Arabian British Bank, Saudi Arabian Investment Bank, Santander, Standard Chartered, Standard Bank, Ahli United Bank, EIB, EBRD and many more. Examples of recent engagements include: On behalf of the EBRD working with treasurers of Egyptian, Serbian and Gerogian banks on adopting Basel III Capital and Liquidity Regime With the Group Treasurer and regional Heads of Treasury of a Bahrain HQ Gulf regional bank on optimising non wholesale liquidity portfolios With the ALM team of a Saudi Arabian Bank on IRRBB including adopting BIS 368 standards With the CFO and Treasurer of a Maltese bank on developing a maturity matched FTP mechanism Gareth is passionate about developing and getting the best out of people, teams and businesses. His style is energetic and practical, believing that only through applying knowledge can we truly succeed.

Venue

London

"All courses are held at four or five star venues in Central London, Zone 1. We strive to provide you with a training environment of the highest quality, to ensure that the whole learning experience exceeds your expectations.

Your training venue will be confirmed by one of our course administrators approximately 3-4 weeks before the course start date.

As such we have detailed our most frequently used training destinations in London on this map. If you need help booking accommodation for your visit to our training courses, please contact accommodation@euromoneylearningsolutions.com and one of our partners will help you get the best rate possible."