Publications

• Payment Systems Worldwide: A Snapshot. Outcomes of the Global Payment Systems Survey 2008. This document analyzes the outcomes of a comprehensive survey carried out by the World Bank’s Payment Systems Development Group in 142 countries. Areas covered by the survey include: i) Legal and Regulatory Framework; ii) Large-Value Funds Transfer Systems; iii) Retail Payment Systems; iv) Foreign Exchange Settlement Systems; v) Cross-border payments and remittances; vi) Securities Settlement Systems; vii) Payment System Oversight and Cooperation; and, viii) Reforms to the National Payments System. The outcomes of this survey are expected to guide reform efforts in the payment system arena both nationally and globally. The World Bank, June 2008. 
  

• Retail Payment Systems to Support Financial Access: Infrastructure and Policy. The setting up of networks and systems for retail payments can have a substantial role in supporting financial access in developing countries.  The aim of the paper is to draw some lessons from the European experience and from the analysis of current trends in emerging economies with the view to proposing an agenda for reform in the retail payment sector of developing countries. CEMLA and the World Bank, by Massimo Cirasino and Jose Antonio Garcia, May 2007.
  
• Reforming Payments and Securities Settlement Systems in Latin America and the Caribbean. The book extracts the main lessons and experiences of the World Bank work, describing trends in payments and securities settlement systems in the Region.  The World Bank, by Massimo Cirasino, Jose Antonio Garcia, Mario Guadamillas and Fernando Montes-Negret. December 2006.
  
• Model of Country Assessment Report for the Payments Clearance and Settlement System. World Bank/CEMLA Western Hemisphere Initiative, Working Paper 3, by Massimo Cirasino. March 2004.
  - CPSS Core Principles Assessment Matrix
  - Central Bank's Responsibilities Assessment Matrix.
  
• Systemically important payment systems in Latin America and the Caribbean: results of self-assessment exercises. World Bank/CEMLA Western Hemisphere Initiative, Research Series, by Carlos Arango and Joaquin Bernal. June 2003.
  
• Standard Methodology for Country Tables on Payment and Securities Settlement Systems and for Comparative Tables. World Bank/CEMLA Western Hemisphere Initiative, Working Paper 5, by Massimo Cirasino, José Antonio García and Mario Guadamillas. March 2003.
  
• Cooperation within the Payments System Model of Terms of Reference for a Payments Council. World Bank/CEMLA Western Hemisphere Initiative, Working Paper 4, by Massimo Cirasino. April 2002.
  
• Experience with the Core Principles for Systemically Important Payment Systems Assessments under the Financial Sector Assessment Program. The World Bank and IMF. April 2002.
  
• The Experience of International Organizations in the Assessment of the Standards for Payments and Securities Settlement Systems. The World Bank, by Massimo Cirasino. November 2001.
  
• The Oversight of the Payments Systems: A Framework for the Development and Governance of Payment Systems in Emerging Economies. World Bank/CEMLA Western Hemisphere Initiative, Research Series, by Biagio Bossone, and Massimo Cirasino.July 2001.
  
• Securities clearing and settlement systems: a guide to best practices. The World Bank, by Mario Guadamillas and Robert Keppler. April 2001.
  
• Methodology for the Assessment of Securities Clearance and Settlement Systems. World Bank/CEMLA Western Hemisphere Initiative, Working Paper 2, by Mario Guadamillas. January 2001.
  
• The Evolution of Payments in Europe, Japan, and the United States: Lessons for Emerging Market Economies. By David B. Humphrey, Setsuya Sato, Masayoshi Tsurumi, and Jukka M. Vesala. October 1996.
  
• Payment Systems in Latin America: A Tale of Two Countries - Colombia and El Salvador. The World Bank, by Robert Listfield and Fernando Montes-Negret. October 1995.
  
  

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