Financial Education in Spain
National Strategy implementation
Alicia Valencia
High-level international conference
Global a...
Financial Education Plan
Once upon a time… Spain
Financial Education as an instrument to reach
financial stability and eco...
1. Spanish Financial Education Plan
2. The pilot programme: Financial Education enters into the school
3. Regulation: a to...
SPANISH FINANCIAL EDUCATION PLAN 3
Financial Education Plan:
 2008-2012
 2013-2017
 Respectful of international recomme...
SPANISH FINANCIAL EDUCATION PLAN 4
 Main principles:
 Inclusiveness. Vocation to reach all segments of the population an...
SPANISH FINANCIAL EDUCATION PLAN 5
 Governance
Working group integrated by public bodies
SPANISH FINANCIAL EDUCATION PLAN 6
 Website
 A reference for Financial Education in Spanish
Main contents Tools Frequent...
SPANISH FINANCIAL EDUCATION PLAN 7
 Website
 Dedicated section for teachers and schools
1. Spanish Financial Education Plan
2. The Pilot Programme: Financial Education enters into the school
3. Regulation: a to...
THE PILOT PROGRAMME: FINANCIAL EDUCATION ENTERS INTO THE SCHOOL 9
 Financial Education in 3rd ESO (Secondary school)
Scho...
THE PILOT PROGRAMME: FINANCIAL EDUCATION ENTERS INTO THE SCHOOL 10
 Competition on Financial Education for schools
partic...
THE PILOT PROGRAMME: FINANCIAL EDUCATION ENTERS INTO THE SCHOOL 11
 Competition on Financial Education for schools: prizes
1. Spanish Financial Education Plan
2. The Pilot Programme: Financial Education enters into the school
3. Regulation: a to...
REGULATION: A TOOL TO SUPPORT FINANCIAL EDUCATION INITIATIVES 13
 Financial Education in the EU regulation
Directive 2014...
REGULATION: A TOOL TO SUPPORT FINANCIAL EDUCATION INITIATIVES 14
 Financial Education in the Spanish school curricula
 O...
Thank you for your attention
Avalencia@tesoro.mineco.es
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Alicia Valencia - 2014 Conference on Global and European Trends in Financial Education in Istanbul

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This presentation by Alicia Valencia was made during the first Roundable at the Conference on Global and European Trends in Financial Education in Istanbul on 22-23 May 2014, which explored the role(s) of the private and not-for-profit sectors in financial education, financial literacy and innovation for young people and financial education for migrant workers and their families. Find out more at http://www.oecd.org/daf/fin/financial-education/2014-conference-global-european-trends-financial-education.htm

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Alicia Valencia - 2014 Conference on Global and European Trends in Financial Education in Istanbul

  1. 1. Financial Education in Spain National Strategy implementation Alicia Valencia High-level international conference Global and European Trends in Financial Education: New Challenges, Innovation and Measures of Success 22-23 May 2014, Istanbul, Turkey
  2. 2. Financial Education Plan Once upon a time… Spain Financial Education as an instrument to reach financial stability and economic policy objectives
  3. 3. 1. Spanish Financial Education Plan 2. The pilot programme: Financial Education enters into the school 3. Regulation: a tool to support Financial Education initiatives
  4. 4. SPANISH FINANCIAL EDUCATION PLAN 3 Financial Education Plan:  2008-2012  2013-2017  Respectful of international recommendations:  OECD Principles and Good Practices for Financial Education (2005)  EC Communication on Financial Education (2007)
  5. 5. SPANISH FINANCIAL EDUCATION PLAN 4  Main principles:  Inclusiveness. Vocation to reach all segments of the population and to progressively cover all financial products and services  Cooperation. Calls for collaboration among financial supervisors, public authorities and social and institutional agents  Continuity. Limited temporal scope, but requires longer implementation horizon
  6. 6. SPANISH FINANCIAL EDUCATION PLAN 5  Governance Working group integrated by public bodies
  7. 7. SPANISH FINANCIAL EDUCATION PLAN 6  Website  A reference for Financial Education in Spanish Main contents Tools Frequent updates
  8. 8. SPANISH FINANCIAL EDUCATION PLAN 7  Website  Dedicated section for teachers and schools
  9. 9. 1. Spanish Financial Education Plan 2. The Pilot Programme: Financial Education enters into the school 3. Regulation: a tool to support Financial Education initiatives
  10. 10. THE PILOT PROGRAMME: FINANCIAL EDUCATION ENTERS INTO THE SCHOOL 9  Financial Education in 3rd ESO (Secondary school) Schools participate on a voluntary basis  2009: Agreement with Ministry of Education  Course 2010/2011: 32 schools and 2,700 students.  Course 2012/2013: 400 schools and more than 21,500 students.  Course 2013/2014: 450 schools and more than 43,000 students.  Evaluation of the programme (September 2013)  Other private initiatives complement the Pilot Programme
  11. 11. THE PILOT PROGRAMME: FINANCIAL EDUCATION ENTERS INTO THE SCHOOL 10  Competition on Financial Education for schools participating in the Pilot Programme And the winner is… I.E.S Pino Montano (Sevilla)
  12. 12. THE PILOT PROGRAMME: FINANCIAL EDUCATION ENTERS INTO THE SCHOOL 11  Competition on Financial Education for schools: prizes
  13. 13. 1. Spanish Financial Education Plan 2. The Pilot Programme: Financial Education enters into the school 3. Regulation: a tool to support Financial Education initiatives
  14. 14. REGULATION: A TOOL TO SUPPORT FINANCIAL EDUCATION INITIATIVES 13  Financial Education in the EU regulation Directive 2014/17/EU of the European Parliament and of the Council of 4 February 2014 on credit agreements for consumers relating to residential immovable property and amending Directives 2008/48/EC and 2013/36/EU and Regulation (EU) No 1093/2010 Text with EEA relevance Article 6. Financial education of consumers 1. Member States shall promote measures that support the education of consumers in relation to responsible borrowing and debt management, in particular in relation to mortgage credit agreements. Clear and general information on the credit granting process is necessary in order to guide consumers, especially those who take out a mortgage credit for the first time. Information regarding the guidance that consumer organisations and national authorities may provide to consumers, is also necessary. 2. The Commission shall publish an assessment of the financial education available to consumers in the Member States and identify examples of best practices which could be further developed in order to increase the financial awareness of consumers.
  15. 15. REGULATION: A TOOL TO SUPPORT FINANCIAL EDUCATION INITIATIVES 14  Financial Education in the Spanish school curricula  Organic Law 8/2013, of 9 December, for the improvement of the education quality (LOMCE).  Royal Decree 126/2014, of 28 February, which establishes the basic curriculum for Primary Education. Recent regulation target: the Spanish Educational System has to prepare our children to be able to actively participate in the economic, social and cultural life with critical and responsible attitude. Basic concepts related to the value of money, saving, personal budget and responsible consumption are incorporated in Primary School (pupils between 6 and 11 years old) through Social Sciences subject Secondary Education (compulsory for pupils between 12 and 16 years old): basic finances and personal economics as optional subjects
  16. 16. Thank you for your attention Avalencia@tesoro.mineco.es

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