Singapore: Financial Sector Assessment Program; Detailed Assessment Of Observance-CPSS-IOSCO Principles for Financial Market Infrastructures

Publication Date:

July 15, 2019

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file


This Detailed Assessment of Observance on the Committee on Payment and Settlement Systems-International Organization of Securities Commissions Principles for Financial Market Infrastructures on Singapore discusses that the Monetary Authority of Singapore (MAS) has taken important steps to address the recommendations made for capital market financial market infrastructures (FMIs). MAS has led efforts to develop international guidance on the cyber resilience for FMIs and moved swiftly to strengthen Singapore’s governance and resiliency of the payment system. The assessment of New MAS Electronic Payment and Book-Entry System (MEPS+) finds that most of the principles are observed, however, also identifies opportunities for further improvement relative to international best practices. One of the several observations is that the legal basis is sound with further enhancements made for insolvency protection, designation criteria, and administrative powers for MAS. Also, governance arrangements are clear and transparent and should continue to ensure the independence of the oversight and supervisory functions for MEPS+.


Country Report No. 2019/225



Publication Date:

July 15, 2019



Stock No:




Please address any questions about this title to