INTERNATIONAL BANKING

 250.  International Banking Overview - 10 Sessions

Over 400 multi-billion dollar banks from every part of the U.S. and of the world now maintain banking offices in New York City to support international trade.  The objective of this introductory course is to present for these international banking personnel (whether from Clearing House banks, Edge Act, or foreign banks) an understanding of the framework and fundamentals of international banking operations that permit an integrated, efficient world-wide system to function and flourish.  Documents of international banking, especially letters of credit and bankers’ acceptances, will be studied.  Payments and communications systems, including CHIPS and SWIFT, will be explored.  The Eurodollar market and international lending agencies will be discussed.

 255.  Foreign Exchange Markets - 10 Sessions

This course will examine the operation of the worldwide Foreign Exchange Market with particular emphasis on the role of bank spot traders and the techniques which they use.  The mechanics of spot and forward trading as well as the role of the G-7 and Central Banks will be discussed.  One of the sessions will be in the form of a simulated trading exercise where students can put their knowledge to a practical test.

 352.    Letters of Credit – ISP -  5 Sessions

This course will provide an in depth review of International Standby Practices, separate rules for Standbys as well as a comparison with Uniform Customs and Practice for Documentary Credits (UCP500), cross references to the Uniform Rules for Demand Guarantees (URDG), revised Uniform Commercial Code (UCC) Article 5 and UN Convention. Case studies and examples will be integrated into course lectures and discussion.

 353.  Letters of Credit - 5 Sessions

This introductory workshop will focus on Commercial Letters of Credit transactions as well as the potential technical and legal problems that might develop in their usage. Major topics include:  basic technology and uses; basic documents of trade; various methods of payment and associated risk factors; UCC Uniform Customs and Practices; terms of sale and delivery and documentary examination.  Also discussed are recent technical and operational changes.  Case studies will be integrated into course lectures and discussions.

 354.  Letters of Credit: Advanced Workshop - 5 Sessions

This advanced workshop will emphasize Special Purpose Letters of Credit.  Furthermore, methods of financing the beneficiary will be discussed.  Major topics include: Back-to-Back L/C, Red Clause L/C, U.S.D.A., and Government Agency Credits.  The workshop will also provide a thorough review of deferred payments as well as transfers and assignment of proceeds.  A discussion will focus on Standby Credits, particularly current regulatory attention and legal decisions.  Case studies will supplement the lectures.

 355.  Letters of Credit: UCP vs. UCC - 5 Sessions

Trade customs embodied in Uniform Customs and Practices (ICC Brochure #500) and those in U.S. law (Uniform Commercial Code, Article 5) will be compared.  Examination of current UC spotlight cases will be featured.  A prerequisite of 353 or equivalent is necessary.

356.  Currency Futures & Options - 10 Sessions

This course will explain the relationship of currency futures, forwards and swaps with the Spot Foreign Exchange Market.  Following a discussion of the price setting mechanism, specific applications treated in the course will include trading, hedging, and arbitrage techniques.  This course will also explore multi-currency portfolio risk and cross rate currency risk as it relates to ECU, SDR and Currency Index Arbitrage.  There will be a review of the impact of the BIS new capital ration guidelines on these markets.  Bring calculators.

357.  Interest Rate Futures - 5 Sessions

This course will examine ways to manage interest rate risk including the use of interest rate futures, swaps, FRAs and other derivative instruments.  Topics will include the pricing and arbitrage relationships of cash, futures, SWAP and FRA markets.  Hedging applications will include discussions on how specific analytical risk management techniques such as duration, modified duration and convexity are used.

 358.  Interest Rate Options - 5 Sessions

This course will feature options on interest rate futures and will make comparisons to cash market option-like financial instruments.  A basic introduction to option pricing theory will serve as a point of departure for discussion of hedging strategies and option combination trades.  The course will conclude with a simulated trading session with student participation.  Reading and course material will be provided.  An introductory course, but intensive.  Bring calculators.

 359.  Documentary Collections: Advanced Workshop - 5 Sessions

This advanced workshop will emphasize the day-to-day processing of documentary collections as well as associated problems and pitfalls.  Major topics include:  Trade Documentation, Documentary Collection Terminology and a comprehensive overview of Uniform Rules for Collection.  Intensive use of case studies will be utilized throughout the workshop.

LEGAL AND REGULATORY

 260.  Law for Bankers 1 - 10 Sessions

This is a basic course intended for the banker whose present or future assignments may require an understanding of the law as it relates to banking.  Five subjects will be covered in this overview, including contracts, corporations, real property, personal property and bankruptcy.

 261.  Law for Bankers 2 - 10 Sessions

This course provides a basic introduction for the banker about the law as it relates to negotiable instruments including checks, drafts and promissory notes.  Such subjects as endorsement, holder in due course, forgery, certification and stop payments will be covered.  In addition, the relationship among banks for negotiable instruments will be covered including presentment, dishonor and endorsements.

 267. Current Issues in Money, Banking and Public Policy - 10 Sessions

This course will focus on major banking, financial and public policy issues confronting bankers today.  A central emphasis will be placed on examining changes and trends in the U.S. financial system, and assessing the likely impact that the resolution of current money, banking and public policy issues will have on banking and the U.S. economy.  During each session, one major issue - ranging from Glass-Steagall repeal and broader product powers for banks to reform of the U.S. tax structure and the future of the bank mergermovement--will be examined.

 268.  The Fed: Policy and Impact - 10 Sessions

A comprehensive survey will be presented of the Federal Reserve policy-making process and the impact of System policies on money and credit and, ultimately, the real economy.  The fundamentals of the System’s statutory responsibilities, economic objectives, policy tools, structure, and operations will be reviewed.  Also included are such topics as: The New York Federal Reserve Bank’s international and national roles in the System, the establishment of International Banking Facilities (IBFs), the effect of the Monetary Control Act of 1980 on System activities and recent legislation.  The course is intended to give those with some knowledge of the Fed a better overall understanding of System policy and its impact on banking.

 362.  Loan Documentation:  Legal Instruments of Commercial Credit - 5 Sessions

Proper loan documentation is necessary to prevent a lender from being unable to recover in a loan workout or bankruptcy.  This workshop will develop an understanding of the documentation requirements of unsecured and secured commercial loans, and it will identify the most troublesome problems associated with enforcement.  Students will study those documents necessary to accomplish their objectives through use of a loan documentation checklist and other procedural forms.  They will also gain knowledge of the most important rights and remedies contained in loan agreements, pledge agreements, subordination agreements and real estate mortgages.  Special attention will be given to the use of attorney opinion letters, commitment letters, landlord waivers, and loss payee endorsements.  Other topics that will be discussed include: the problems of corporate guarantees as fraudulent conveyances; preferential transfers in the bankruptcy sense; the mechanics of confessions of judgment and foreclosure sales; and the benefits and obstacles to the creditor created by a debtor’s bankruptcy.

 FINANCIAL MANAGEMENT AND PRACTICES

270.  Corporate Finance - 10 Sessions

This course will provide a study of the major areas of corporate finance, with emphasis on financial management, investment analysis and money and capital markets.  Topics will include, capital budgeting; the valuation of physical and financial assets; time value of money; risk concepts; sources and uses of funds; capital structures; dividend policies; optimal management of short-term assets and liabilities; intermediate and long-term financing decisions and problems of the insolvent firm.  Applicable exercises and cases will be analyzed.

 271.  Money and Capital Markets - 10 Sessions

Essential concepts in the money and capital markets are discussed in great detail.  This course is a primer for the financial service provider.  It is geared to imbue participants with a clear understanding of the financial marketplace, how it is created, its workings and ramifications on interest rates, the business cycle and its eventual impact on securities prices.  This is an introductory course which describes the role of domestic and international money and capital markets and financial intermediaries in channeling funds from savers to borrowers.  The ten sessions will discuss and analyze market behavior of bonds and stocks and how this effects the working of the overall economy.  At its conclusion the participants will have gained a broad knowledge of the financial system, essential to the upwardly mobile professional.

 278.  Understanding Interest Rates:  The Factors That Move Interest Rates - 10 Sessions

Students will learn how to find key data on interest rates in specific major daily and weekly financial publications.  This information will be used to fill in a weekly chart specifically created not only for class discussion and analysis of interest rate movements, but also for professional use.  The types of factors that will be discussed include economic, fiscal, inflation, monetary, psychological, political and global.  Students will use the chart to discuss what specific factors moved interest rates during the past week, prior month, and over the semester.

279.  Investment Banking - 10 Sessions

What investment banking is and what investment bankers do is the joint theme of this course.  The market making activities that differentiate investment banking from other financial activities are explored and provide in-depth information on the new issues process.  Public policy implications of recent changes in the financial markets are discussed.

 282.  Analyzing Financial Statements - 10 Sessions

This course offers an in-depth guide to the tools and techniques necessary for the evaluation of financial conditions and operating performance of a modern business enterprise.  Major topics include:  financial statements analysis and accounting; financial statements and business funds flow; tools of financial statements analysis; and the technique of financial statements analysis.  The last part is divided into modules covering short-term liquidity and solvency, funds flow analysis of operations, long-term financial strength and asset utilization.

 283.  Corporate Lending - 10 Sessions

Valuable for the new or developing commercial lending officer, this course will provide a common sense approach to lending and an understanding of the lending function within a bank.  A thorough, integrated approach to lending and dealing with commercial customers will be provided in the following stages: the loan request, financial analysis, loan structuring and loan administration.

 298.  Bank Audit and Internal Control - 10 sessions

This course is intended especially for audit and control personnel in computerized banking operations.  Data processing specialists cognizant of audit and control needs are also appropriate students for this course.  Topics discussed will include computer fundamentals and the range of EDP internal controls which auditors must look for and evaluate in an EDP environment: administrative, systems and data controls.  EDP security and records protection will be discussed as they relate to the various controls.

 373.  Asset Liability Management - 5 Sessions

This course will explain current bank policies and strategies for bank balance sheet income statement enhancement with emphasis on practical action that can be taken to improve bank liquidity and profitability.  Among topics to be discussed are the asset/liability management process, interest rate risk, pricing, tax planning, capital planning, duration, velocity repricing, matched book funding concept, interest rate swaps, put/call options and securitization of assets.

 378.  Understanding the Municipal Bond Market - 5 Sessions

The goal of this course is to provide an understanding of the municipal bond market with particular emphasis on evaluating the credit risk of municipal bonds.  Areas covered include a description of the market including its volume, types of issuers, yields in relation to the U.S. Treasury market, credit quality of tax-backed bonds including states and cities; revenue bonds including transportation, airports, sewer and water, power, resource recovery, hospitals, education and housing.  Finally, basic elements  of portfolio management will be discussed.

 SECURITIES AND FINANCIAL INSTRUMENT MARKETS

 239.  Mergers and Acquisitions - 10 Sessions

Dramatic events in mergers, takeovers, restructuring, and corporate control fill the newspaper headlines almost daily.  Mergers, takeovers, restructuring and corporate control issues have become central public and corporate-policy issues.  These activities represent a new industrial force that will lead the United States and other economies that practice these arts to heights of creativity and productivity.  M&A are increasingly being used all over the world in an attempt to improve the performance of private and public enterprises.  Takeovers, restructuring and leveraged buyouts will continue to be major forces in economies all over the world.  To analyze takeovers and restructuring, some key topics such as valuation, cost of capital and strategic financial planning - essential to the subject of financial economics - are involved.  Therefore, important analytical concepts must be mastered.

 240.  Securities Markets I - 10 Sessions

Focus will be on all types of bonds (including Government, Corporate, Municipal, Mortgage-Backed, Convertible and Derivative) and stocks ( Common, Preferred and Convertible).  The basic approaches of equity valuation and stock analysis will also be discussed.

 241. Securities Markets II - 10 Sessions   

Focus will be on Stock and Bond Options, Financial Futures and Interest-Rate Contracts (Swaps, Floors and Caps).  Also included is a bank portfolio management case study within which all the course material can be applied.  This two-semester course provides an introduction to virtually all facets of the Securities and Financial Instruments Industry.  Topics are wide ranging, and include the characteristics and price considerations of such instruments and the basic primary and secondary market operations of dealers, brokers, and underwriters.  This two course sequence is an ideal program for individuals who need a broader understanding of these markets and for those who wish to eventually seek a registered representative’s license.

 248.  Introduction to Equity Options - 10 Sessions

Puts and calls have become an integral part of investment strategies and understanding them has become essential in portfolio management.  This course will start with the basics; definitions, characteristics, markets and income enhancement.  Once the groundwork is laid we will then go on to the use of various techniques which will be structured to meet a variety of investor needs.  We will cover such procedures as covered call writing in order to increase income, the purchase and sale of puts, the use of straddles to take advantage of market volatility, and to protect a portfolio against downward swings.  The range of possibilities is enormous and an plethora of systems is employed in order to achieve a specific investment objective from the most conservative to the most speculative.  This course is suitable for registered representatives, investment consultants, providers of financial services and the average investor.

 275.  Global Finance - 10 Sessions

This course will cover new financing methods currently revolutionizing finance and capital markets.  It includes a  close study of foreign exchange instruments and comprehensive coverage of the major strategies and an analysis of the mechanics of the market, the major players and the risks in foreign exchange markets.  Risks and rewards to the banking community will be studied.

 281.  Derivative Products - Managing Risk - 10 Sessions

An in-depth course in derivatives and modern risk management theory and practice for the executive who has forgotten college calculus.  Beginning with a review of derivatives’ fundamentals, the course then covers derivatives structure and pricing, the application of derivatives to traditional risk management objectives, and the application of advanced risk management techniques to derivatives portfolios.  Forwards, options, and swaps;  the term structure of interest rates; arbitrage-free pricing models; duration; and value at risk will be explored in a conceptual, non-mathematical fashion.    

 340. Corporate Fundamentals - 5 Sessions

This course is the cornerstone for anyone who wishes to launch a career in finance.  The fundamentals of the corporation are examined in minute detail.  First the history of the corporation will be studied and how it evolved to its present form.  We will discuss its advantages and disadvantages as opposed to other forms of business structures.  Preferred stock in all its variations will also be studied and how its use is directly related to the U.S. tax code.  Finally, the debt aspect of the corporation will be given emphasis due to its increasing use in corporate America.  Included will be a study of convertible issues and their unique features and the benefits both to the corporation and the investor.  Some aspects of the government and municipal bond market will also be examined.  Once completed, this course will prepare participants for a broad range of positions in the financial community, or provide sufficient knowledge of the field to warrant job advancement.

 MARKETING AND SALES

 339.  Bankers Who Sell - 5 Sessions

Bankers can differentiate their products from those of others by being able to understand and discuss them from the customer’s point of view.  Customers are continuously evaluating products, asking, “What’s in it for me?”  Consultative banking also benefits bankers since it provides them with a way to develop long-term, loyal relationships mutually beneficial to the customer and the bank.  By understanding the consultative sales process and having a flexible framework for controlling the sales interview, bankers accelerate their effectiveness and enjoy selling.

 SUPERVISION AND MANAGEMENT

 391.  People Management - 5 Sessions

This workshop is designed to enhance the skills and techniques required by bankers who must successfully manage people.  Increasing productivity and profitability will be emphasized through an exploration of management principles that are applicable to an industry undergoing dramatic change.  Key topics will include: goal setting; decision-making and leadership styles; internal/external values and the corporate culture; motivating employees; organizing and monitoring systems; and managing change and conflict.  Group discussion will be encouraged