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

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. Financial Education Plan
Once upon a time… Spain
Financial Education as an instrument to reach
financial stability and economic policy objectives

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. 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. 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. SPANISH FINANCIAL EDUCATION PLAN 5
 Governance
Working group integrated by public bodies

7. SPANISH FINANCIAL EDUCATION PLAN 6
 Website
 A reference for Financial Education in Spanish
Main contents Tools Frequent updates

8. SPANISH FINANCIAL EDUCATION PLAN 7
 Website
 Dedicated section for teachers and schools

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. 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. 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. THE PILOT PROGRAMME: FINANCIAL EDUCATION ENTERS INTO THE SCHOOL 11
 Competition on Financial Education for schools: prizes

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. 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. 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. Thank you for your attention
Avalencia@tesoro.mineco.es