The framework promotes a shared understanding of the financial competences adults need to make sound decisions on personal finance.
The European Commission and the OECD International Network on
Financial Education (OECD-INFE) have released the joint EU/OECD-INFE
financial competence framework for adults. It supports public policies,
financial literacy programmes and educational materials to be developed
by EU Member States, educational institutions, industry and individuals.
It also supports the exchange of good practices by policy makers and
stakeholders within the EU.
Financially literate citizens can more safely and confidently
participate in financial markets. Their active engagement is necessary
for EU capital markets to grow and channel more funding to EU companies -
more so in the aftermath of the COVID-19 crisis. This financial
competence framework is a follow-up to one of the measures announced in
the EU's 2020 Capital Markets Union Action Plan. It marks a key
milestone in the Commission’s work on financial literacy and an
important follow up in OECD/INFE work on financial literacy.
Work will now start on the development of a joint EU/OECD financial
competence framework for youth in the European Union which is scheduled
for completion in 2023.
OECD/European Commission
© OECD
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