External Publications and Papers

A wide variety of payment and settlement systems publications are available from external providers. Links to 2 of the major providers, the Bank for International Settlements (BIS) and the Executive Meeting of East Asia-Pacific Central Banks (EMEAP) are provided below.

Bank for International Settlements (BIS) Publications

Committee on Payments and Market Infrastructures ("CPMI")

MAS is a member of the BIS CPMI, which serves as a forum for central banks to monitor and analyse developments in domestic, cross-border, and multicurrency payment, settlement and clearing systems.  The CPMI contributes to the strengthening the financial market infrastructure by promoting sound and efficient payment and settlement systems.  It has undertaken several initiatives through working groups and specific studies in the field of payment and settlement systems.
CMPI publishes reference works on payment systems in the G10 countries as well as various other countries periodically.  The objective of these reference works, widely known as Red Books, is to contribute to the better public understanding and awareness of the way payment systems work in different countries.  MAS participates in several CPMI publications relating to payment systems.  These publications may be accessed via the BIS website provided below.


Publication Title

Publication Date

Reducing the risk of wholesale payments fraud related to endpoint security  8 May 2018
Statistics on payment, clearing and settlement systems in the CPMI countries - Figures for 2016 15 Dec 2017 
Implementation monitoring of PFMI: Level 2 assessment report for Singapore 18 Jul 2017
Guidance on cyber resilience for financial market infrastructures  29 Jun 2016
Implementation monitoring of PFMI: Assessment and review of application of Responsibilities for authorities 30 Nov 2015

Digital Currencies

23 Nov 2015

Implementation monitoring of PFMIs: Second update to Level 1 assessment report


11 Jun 2015

Cyber resilience in financial market infrastructures

11 Nov 2014  

Recovery of financial market infrastructures - final report

15 Oct 2014

Implementation monitoring of PFMIs: First update to Level 1 assessment report

28 May 2014

Implementation monitoring of PFMIs - Level 1 assessment report

12 Aug 2013

Principles for financial market infrastructures: disclosure framework and assessment methodology

14 Dec 2012

Payment, clearing and settlement systems in the CPSS countries - Volume 2

26 Nov 2012

Innovations in retail payments: report released by the CPSS

29 May 2012

Principles for financial market infrastructures 

Apr 2012 

Payment, clearing and settlement systems in the CPSS countries - Volume 1

Sep 2011

The interdependencies of payment and settlement systems

Jun 2008

Central bank oversight of payment and settlement systems

May 2005

CPSS Survey of developments in electronic money and internet and mobile payments

Mar 2004

The role of central bank money in payment systems

Aug 2003

Assessment methodology for "Recommendations for Securities Settlement Systems" (Committee on Payment and Settlement Systems and Technical Committee of the International Organization of Securities Commissions)

Nov 2002

Core Principles for Systemically Important Payment Systems

Jan 2001




Executive Meeting of East Asia-Pacific Central Banks (EMEAP) Publications

Established in 1991, EMEAP is a co-operative organisation of central banks and monetary authorities in the East Asia and Pacific region. The primary objective of EMEAP is to strengthen the co-operative relationships among its members.  MAS is an active member of the EMEAP Working Group on Payment and Settlement Systems.
The "payment, clearing and settlement systems in Singapore" publication, or EMEAP Red Book, was released in 2011.  The Singapore Chapter of the EMEAP Red Book is also separately available.  The EMEAP Red Book is an accomplishment of collective study over the past years by the EMEAP Working Group on Payment and Settlement Systems and promotes further understanding of payment and settlement systems in the EMEAP region.

Last Modified on 15/04/2019