The framework builds on the OECD’s existing one, updating it to the EU context and enriching it with more detailed digital and sustainable finance competences. It is made available for voluntary uptake in the EU by public authorities, private bodies and the civil society.
The European Savings and
Retail Banking Group (ESBG) applauds and welcomes the ‘Financial
competence framework for adults in the European Union’ launched
today by the European Commission (EC) and the OECD’s International Network on Financial
Education (INFE).
“This framework provides much needed guidance to
ensure citizens are prepared to make sound financial decisions that help them
prosper and build resilience across all Member States”, said ESBG Managing
Director, Peter Simon, who participated in a panel discussion to launch the
initiative.
“Building financial education and literacy is part of
European Savings and Retail Bank’s DNA and history, who have been carrying out
for decades a number of different financial education programmes with the
greatest dedication. Together with our members, ESBG can only celebrate an
initiative from the public sector that aims at the same goal, which is to
empower citizens to make the right choices for their financial well-being”, he
added. “We all need to work together”.
In particular, ESBG applauds the fact that this
framework, which includes 563 personal finance competences, focuses not only on
building knowledge but also skills across all age groups.
The framework builds on the OECD’s existing
one, updating it to the EU context and enriching it with more detailed digital
and sustainable finance competences. It is made available for voluntary uptake
in the EU by public authorities, private bodies and the civil society.
It was published on 11 January and
launched today on a virtual event by European Commissioner Mairead McGuinness,
and OECD Secretary General, Mathias Cormann. The announcement was followed by a
panel
discussion with industry experts.
ESBG
© ESBG
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