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.

Course details

Dates are currently being finalised. Get in touch to find out more
Download course brochure

Funds Transfer Pricing (FTP)

Be equipped to participate in the functioning and sustainability of existing FTP mechanisms
  • Funds Transfer Pricing [FTP] is critical to banks internal management of liquidity and market risk. Whilst regulators do not specify what FTP mechanism a bank should operate they do require it to be effective in ensuring that asset pricing includes an accurate reflection of funding costs. For a FTP mechanism to be successful, it requires the effective partnering of treasury, wider finance and the front line business.

    This intensive workshop will utilise practical case studies to better equip delegates with an understanding of how FTP mechanisms have and are evolving, what is currently considered by the banking industry to be best practice in terms of their design and operation and strategies for overcoming challenges to them.

    By attending this course, delegates will be better equipped to participate in the functioning of existing FTP mechanisms, advise stakeholders on their suitability and opine on enhancements to better meet current and future challenges.

    Learning outcomes:


     Articulate the role of FTP within a bank and the regulatory requirements for it
     Describe the evolution of FTP methodologies from Zero Term Premium to Matched Term Premium pricing
     Determine suitable proxies for derivation of a FTP curve including those in under-developed wholesale markets
     Identify suitable basis adjustments to internally manage interest rate risk introduced by the funding model
     Combine FTP curves with behavioural models to better value non maturing assets/liabilities
     Adjust to FTP models to reflect regulatory impact such as LCR and Leverage ratio
     Evolve existing FTP models to include Capital as well as Liquidity Funding costs and regulatory impact
     Advise on enhanced portfolio analytics and opine on how alignment of business incentives are critical to the FTP mechanism’s success



  • Day 1

     

    Session 1: Defining FTP and it's benefits

     

     Lessons from a crisis – how the ‘Credit Crunch’ identified the need for better asset transformation pricing
     The importance of FTP to banks and regulators
     What does FTP tell us
     The role of FTP in removing market risk from the business
     The role of FTP as an appetite statement

    Session 2: FTP Methodologies and deriving the FTP curve
     Selecting funding curves (Libor, OIS, etc)
     Geographic and currency variations
     Removing basis risk from the business
     Calculating the pooled cost of funds
     Limitations of the methods
     Why maturity matching is considered best practice
     Deriving the marginal costs of funds curve
     Historic vs Expected Cost of Funds/Credit Spreads
     Using proxies as inputs for the derivation
     Applications of cross currency swaps in deriving non-domestic currency funding cost
     Determining the maturity matched curve in non-developed wholesale markets

    Session 3: Operating FTP
     The FTP setting process and best practice governance
     Applying FTP funding costs/benefits within management accounts
     Calculating the Stock/Flow blended rate
     At what ‘level’ to apply – portfolio or account?
     Promoting consistency across business lines


    Day 2:
    Session 1: Focus on Behaviouralisation
     Behaviouralisation methodologies
     Identifying core and non-core portfolios
     Impact of early repayment, redemption or default
     Risks of ‘unwind’
     Distributing the cost
     Should behavioural performance be considered?
     Governance and review of behavioural profiles
     Operational considerations

    Session 2: Pricing with FTP

     Whether to use flow FTP rates or stock/flow blended rates
     Pricing Assets and Liabilities
     Fixed rate vs floating rate
     Short dated vs long dated
     Secured vs Unsecured
     Pricing equity investments
     Applying FTP to off balance sheet items, buffers and cushions

    Session 3: Interaction of Basel Liquidity Regime and Funds Transfer Pricing

     Impact of liquidity metrics on worth of funds
     Impact of the leverage ratio
     Distributing the ‘drain’ – assets or liabilities
     Considerations beyond funding value

    Day 3:

    Session 1: Making FTP effective

     FTP as a ‘hurdle’ rate– balancing introduction with pipeline delivery
     FTP in Performance Management
     Defining liquidity appetite with FTP
     Linking FTP to RAROC and ultimately capital allocation
     Re-pricing existing portfolios to reflect changes in FTP
     Driving behaviours – aligning incentives to FTP
     The need for a strong handshake between treasury and business

    Session 2: Evolving to C-FTP – including cost of capital in FTP mechanism

     Calculating the Cost of Capital
     Treatment of Supplementary Regulatory Capital
     How to charge the capital cost
     Average or Specific RWA’S
     Implications of IRB vs Standardised approach
     Blending capital cost with liquidity cost

    Session 3: Future evolution of FTP Models

     Adjusting to reflect NSFR
     Adjusting to reflect IFRS9 impairment
     What else can be reflected?
     Deriving FTP in illiquid wholesale markets
     3 days in 30 minutes – review of key points and takeaways

     

     

     

  • 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
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 RegimeWith the Group Treasurer and regional Heads of Treasury of a Bahrain HQ Gulf regional bank on optimising non wholesale liquidity portfoliosWith the ALM team of a Saudi Arabian Bank on IRRBB including adopting BIS 368 standardsWith the CFO and Treasurer of a Maltese bank on developing a maturity matched FTP mechanismGareth 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

The course will take place at a Central London hotel.

The map attached details some of our most frequently used venues

If you need help booking accommodation for your visit, please contact accommodation@euromoney.com and one of our partners will help you get the best rate possible.