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]]>PRESS RELEASE
- National banking associations act to boost financial literacy
- Activities reach out to thousands of young people across Europe
- European Money Quiz launched as new initiative
BRUSSELS, 5 March 2018 – Financial education is set to take the spotlight across Europe from next Monday as national banking associations in more than 30 European countries embrace European Money Week to reach thousands of young people with actions to boost financial literacy.
It will be the fourth time that the banking sector organizes European Money Week. Last year, the week reached more than half a million young people with more than 16.000 activities – ranging from classroom teaching sessions to full-fledged conferences – all related to financial education. The timing of European Money Week is aligned with Global Money Week, an initiative by Child & Youth Finance.
The European Banking Federation is proud to launch a new initiative this year: the European Money Quiz. School classes with 13-to-15 year old children in dozens of European countries are invited by national banking associations to play this quiz. The students get a chance to outsmart other classes in their country in a live national contest hosted via the Kahoot! online learning platform. Questions are presented in a live video stream that appears in the classrooms. The answers then are returned immediately via the Kahoot! app. Representatives of the winning classrooms will be invited to play the European Money Quiz finals on 8 May in Brussels.
European Money Week seeks to boost public awareness on the benefits of financial education at a time that low levels of financial literacy are increasingly perceived as problematic, especially given the rapid emergence of financial technology that emphasizes the digital nature of money. The global benchmark survey on financial literacy, the OECD PISA survey (oecd.org), last year again showed that one in four students in developed economies are not able to make even simple decisions on everyday spending.
“Not only as bankers but also as parents and educators we strongly believe that there is a real need to better equip our young people for their future,” said Wim Mijs, Chief Executive Officer of the EBF. “Anyone who wants to prosper in our increasingly complex society will need at least a basic understanding of financial concepts. Financial education is almost like learning to drive a car. Accidents will happen if that is not taught properly.”
In Brussels, the EBF will mark European Money Week with two public events. The Brussels Kick-Off on Monday 12 March will address the current status of financial education in Europe, with a particular look at the gender gap in financial education. Giovanna Paladino, curator of the Italian savings museum in Turin, Italy, and Arna Olafsson of Copenhagen Business School will deliver keynote presentations.
The ‘FinTech Tools & Digital Skills’ seminar on Wednesday 14 March will combine the views from new companies in financial technology with the insights from experts on digital skills. It is clear that financial literacy is becoming increasingly important because of the digitization of financial services. The interaction between humans and technology is changing due to daily tasks, services and jobs that are becoming more digital, even shifting to mobile devices. Speakers from Tink, Otly, RoosterMoney, Inbonis and Klear Lending will explain how they believe Fintech tools can empower users to make better financial decisions.
The digital skills panel dives deeper into the evolving need for digital skills and awareness in financial services and beyond, ultimately key factors to improve financial literacy in the digital age. Representatives of the European Commission, Banco Santander and the academic community will shed their light on these developments.
For more information about the EBF’s financial education activities, click here
Media contact:
Nahuel Mercedes, Communications Officer, +32 2 508 3748, n.mercedes@ebf.eu
About the EBF:
The EBF serves as the voice of the European banking sector, uniting 32 national banking associations in Europe that together represent some 3,500 banks – large and small, wholesale and retail, local and international. Launched in 1960, the EBF is committed to creating a single market for financial services in the European Union and to supporting policies that foster economic growth.
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Related publications:
2 June 2017: Banks support ecosystem of interoperable APIs in EU: EBF underlines importance of privacy and security under PSD2
23 May 2017: Data Protection Impact Assessment: EBF comments on Article 29 Working Party guidelines
16 May 2017: EBF asks Commission to support ban on screen scraping
10 May 2017: Digital Single Market: EBF supports innovative, competitive strategy giving confidence for consumers and businesses
26 April 2017: EBF Key messages on European Commission’s Consultation on Building the European Data Economy
14 November 2016: Innovate. Collaborate. Deploy: the EBF vision for banking in the Digital Single Market
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]]>FROM THE EUROPEAN BANKING FEDERATION:
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EBF PRESS RELEASE
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EBF publishes Financial Literacy Playbook for Europe
BRUSSELS, 3 November 2020 – Today the European Banking Federation presents its Financial Literacy Playbook for Europe. This playbook is the result of the common efforts of national banking associations across Europe and the European Banking Federation.
It provides a valuable snapshot of the banking industry’s financial education initiatives across Europe and can be used as a country-by-country reference guide. 35 countries actively worked through the EBF’s financial education committee to produce the playbook. It allows readers to explore what the banking sector – together with governments and leading NGOs – does to boost financial education and financial literacy.
This publication is a comprehensive but not exhaustive overview that serves as to complement reports on financial literacy in Europe as those published by the European Banking Authority, which reviews the actions by national financial supervisors, or the upcoming report by the European Commission in the context of the review of the Mortgage Credit Directive.
The European Banking Federation believes that the active involvement in financial education and literacy programmes such as the European Money Week, the European Money Quiz and the lobby-work for policies that encourage financial literacy, can play an important role in fostering a more prosperous society and well-being for all.
Says Wim Mijs, Chief Executive Officer of the EBF:
➢ “An increasing number of countries in Europe are embracing public-private cooperation as a model for financial education with an impact. Such cooperation is an essential success factor for boosting financial literacy.”
National platforms are paying off. Banks don’t necessarily need to be in the lead, but our industry encourages the creation of such public-private-platforms where they do not yet exist.
The global Covid-19 pandemic is testing financial resilience on an unprecedented scale. The health emergency is making it even more important to develop financial literacy. It is a relevant life skill, just as reading and writing.
FIND THE PLAYBOOK AT https://www.ebf.eu/priorities/financial-education/
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Media contact:
Raymond Frenken, Director of Communications
r.frenken@ebf.eu +32 2 508 3732
About the European Banking Federation:
The European Banking Federation is the voice of the European banking sector, bringing together national banking associations from across Europe. The EBF is committed to a thriving European economy that is underpinned by a stable, secure and inclusive financial ecosystem, and to a flourishing society where financing is available to fund the dreams of citizens, businesses and innovators everywhere.
Subscribe to the EBF Weekly + FinReg Agenda
Every Friday at noon you can receive the EBF Weekly + Financial Regulation Agenda. This agenda presents an overview of upcoming European and international meetings and conferences in financial regulation, as well as important general financial and economic events and key EBF meetings for the week ahead. CLICK HERE TO SUBSCRIBE
Subscribe to the EBF Morning Brief
The EBF Morning Brief is published Monday through Friday morning and brings you the top banking headlines, relevant announcements from the EU institutions and the latest from the EBF and its members, national banking associations in 32 countries in Europe. CLICK HERE TO SUBSCRIBE
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]]>A look ahead to the new year’s meetings, conferences, workshops – and Brexit
January:
- 13: ECON committee meeting in Strasbourg
- 14-16: European Parliament plenary in Strasbourg
- 15: EBF Financial Crime Strategy Group
- 16: Data Protection Day 2020, Zagreb, Croatia
- 21: Ecofin meeting
- 21-24: World Economic Forum in Davos, Switzerland
- 22-23: ECON committee meeting
- 23: ECB monetary policy meeting in Frankfurt
- 27: ECON committee meeting
- 28-29: Paris Fintech Forum, EBF CEO Wim Mijs speaking
- 30: EBF Single Supervisory Mechanism Boardroom Dialogue in Frankfurt
- 31: Brexit: Withdrawal of the United Kingdom from the European Union
February:
- 4: ECB: Publication of Euro area bank interest rate statistic
- 6: ECON committee meeting
- 6: European Commission publishes Winter 2020 Economic Forecast
- 10-13: European Parliament plenary in Strasbourg
- 12: Encouraging and rewarding sustainability – EBF Workshop
- 17: Eurogroup meeting
- 17-18: ECON committee meeting in Strasbourg
- 18: Ecofin meeting
- 18: Navigating AML Compliance – EBF/S&P Global Market Intelligence Joint Webinar
- 19: ECB Governing Council of the ECB non-monetary policy meeting
- 20: EBF Executive Committee meeting in Frankfurt
- 25: Markets4Europe Regional Conference, Luxembourg
- 27: Markets4Europe Regional Conference, Berlin, with participation of German Finance Minister Olaf Scholz
March
- 5: ECON committee meeting
- 8: International Women’s Day
- 12: ECB monetary policy meeting in Frankfurt
- 16: Eurogroup meeting
- 18-19: ECON committee meeting in Strasbourg
- 17: Ecofin meeting
- 19: Forum Europe’s Annual European Financial Services Conference
- 24: Financial & Digital Literacy in the 2020s – EBF Workshop
- 25: EBF Conference on Basel IV at the European Parliament
- 26-27: European Council: Informal meeting of EU 27 Heads of State and Government
- 23-27: 2020 European Money Week. Activities by national banking associations in more than 32 European countries and by EBF in Brussels to promote financial education
April
- 2: ECB General Council meeting in Frankfurt13: Easter Monday
- 16-17: G20 Finance Ministers and Central Bank Governors Meeting in Washington DC
- 17-19: Spring meetings of the World Bank Group and IMF in Washington DC
- 22-24 Eurofi High Level Seminar, Zagreb
- 24-25 Informal Ecofin, Zagreb
- 28-29: European Finals of the European Money Quiz, Brussels
May
- 1: Labour Day Holiday
- 5: EBF Spring Economic Outlook to be presented (TBC)
- 6: European Commission to present its Spring economic forecast (TBC)
- 7: Markets4Europe Regional Conference, Stockholm
- 14-15: EBF Executive Committee & Board meetings in Zagreb, Croatia
- 17-18: EBF Associates meeting in Istanbul, Turkey
- 18: Eurogroup meeting
- 19: Ecofin meeting
- 21: Ascension day
June
- 1: Whit Monday
- 4: ECB Monetary Policy Meeting, Frankfurt
- 11: Eurogroup meeting
- 12: Ecofin meeting, Luxembourg
- 16: Markets4Europe Regional Conference, Croatia
- 16-18: Money20/20 Europe conference in Amsterdam
- 18-19: European Council: Informal meeting of EU 27 Heads of State and Government
- 24: General Council meeting of the ECB in Frankfurt
- 26: EBF Executive Committee meeting
July
- 1: Germany takes up the rotating presidency of the EU Council
- 1-4: European Parliament plenary in Strasbourg
- 16: ECB Governing Council Meeting, Frankfurt
- 18-19: G20 Finance Ministers and Central Bank Governors meeting in Riyadh, Saudi Arabia
- 29: ECB monetary policy meeting, Frankfurt
August
- 1: Assumption Day
September
- 10: ECB monetary policy meeting, Frankfurt
- 9-11: Eurofi High Level Seminar, Berlin
- 11-12: Informal Ecofin, Berlin
- 24: ECB General Council meeting, Frankfurt
October
- 2: EBF Executive Committee meeting
- 15-16: G20 Finance ministers and central bank governors, Washington DC
- 16-18: 2019 Annual Meetings of the World Bank Group and the IMF in Washington, D.C.
- 23: EBF Chief Economists Group to present autumn economic outlook (TBC)
- 24: ECB monetary policy meeting, Frankfurt
- 27: EBF Cybersecurity Conference
- 28: EBF Digital Innovation Conference
- 30-31: Basel Committee on Banking Supervision meeting, Basel
November
- 1: All-Saints Day
- 9: European Commission to present its Autumn 2019 Economic Forecast (TBC)
- 18: ECB Governing Council Non-Monetary Policy Meeting
- 19-20: EBF Executive committee & Board meetings
- 21-22: G20 Summit, Riyadh, Saudi Arabia
December:
- 3: ECB General Council meeting, Frankfurt
- 10: ECB monetary policy meeting, Frankfurt
- 25-26: Christmas
The post EBF Year Ahead: Top EU, finance and banking events in 2020 appeared first on EBF.
]]>
DATE
25 March 2019
16:00 – 18:30
LOCATION
EBF Meeting Centre
Avenue des Arts 56, Brussels
If you share the view that financial literacy is important for your well being and personal prosperity, then JOIN US in at the EBF Meeting Centre on Monday 25 March for the Brussels Kick-Off of European Money Week.
This year, banking associations across Europe and the European Banking Federation are marking the 5th European Money Week with financial education events in more than 30 countries.
At the kick-off event we will take stock of current international policy initiatives on financial literacy and we will hear case studies on national platforms from several European countries.
Everyone attending also will be invited to play a live Kahoot! with a special edition of the European Money Quiz. Are you smarter than the tens of thousands of kids playing the quiz in their school?
Come and find out!
PRESENTATIONS
- Olaf SIMONSE, Head Wijzer in Geldzaken (‘Money Wise’), at the Netherlands’ Finance Ministry & Vice Chair of the OECD International Network on Financial Education (INFE)
- Diana FILIP, Deputy CEO, JA Europe
- Arnaud HOUDMONT, Chief Communications Officer, BetterFinance
- Anna FALL, Chief Communications Officer, Intrum – Spendido
CONFIRMED SPEAKERS
REGISTER HERE
MAPS
ACCOMMODATION
Stanhope Hotel Brussels by Thon Hotels
Rue du Commerce 9
1000 Bruxelles
EBF negotiated preferential rates for event participants. Rooms will be served based on the first comes, first serves basis.
In order to benefit from the discount please follow booking link HERE!
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]]>Publication date: 1 March 2016
Money, money, money! One way or another we’re all affected by the stuff. So, understanding the basics of finance, getting acquainted with its intricacies, and generally improving our ability to manage money should be a top priority for everyone.
In the countdown to European Money Week 2016, we offer you 20 tips to make your financial life easier:
- Understand your financial situation. The first step to being able to manage your money is to know where you stand and which steps you can take. Be realistic and take the time to analyse the situation until you feel comfortable enough to make decisions.
- Set financial goals and plan how to reach them. Being organised and respecting the plan will help you achieve successful financial management.
- Read your financial documents carefully and be aware of all obligations. Apply the Latin motto ‘Ignorantia juris non excusat’ (Ignorance of the law is no excuse) to your finances and be well informed so as to avoid costly mistakes.
- Keep an eye out for new scholarships, grants, financial aid. You never know when the opportunity of help from the state or private sector will arise.
- Understand your loans. The terms of a loan need to be completely clear. If in doubt, seek clarification before taking out a loan.
- Don’t forget about retirement. For some people, it may seem a long way off, but when the moment comes, a retirement fund may be the key to a carefree new life.
- Comparisons make sense when it comes to your money. Weigh pros and cons of your various options until you are ready to take a sound decision.
- Don’t let anyone pressure you into unnecessary spending. Money matters are as personal as you want them to be, so think how that spending will affect you and the people you care about.
- Look for ways to save money. Use your imagination and explore new ways to put your money to the best possible use: create a budget and stick to it, look out for discounts, use coupons, re-use, cut out costly habits, and explore different angles before taking a financial decision.
- Set aside a small percentage of your income for unexpected costs. This is an unpredictable world, so building up emergency savings is a sensible idea and need not affect greatly your monthly budget.
- Pay off all your bills and debts first. This is the only way to avoid costs adding up and getting into unnecessary debt.
- Keep tabs on your credit card. If possible, own only one credit card, shop around for the best rates and fees and set limits.
- Invest wisely. Research investment opportunities that are right for you and take advantage of compound interest.
- Track your expenses. This habit will help you realise how you spend your money and act accordingly.
- Regularly check your bank statements. The money you have and the money you think you have don’t always match. Before having any nasty surprises, be always well informed of your status and report any irregularity.
- Know the difference between luxuries and necessities. You know yourself better than anyone so take some time to carefully think about what you can afford, what you would like to have and what you actually need.
- Always be honest on your tax declaration. Be realistic when entering your expenses, keep your receipts close and consult an advisor if you have doubts.
- Know where your money goes. It may seem more financially responsible to buy a 5 euros shirt than a basic 30 euros shirt, but then you are ignoring the quality factor.
- Rebalance your portfolio once a year. Take a look at your brokerage account regularly to make sure your investment allocations still match your goals.
- Become financially independent and self-reliant. The old maxim of Work to Live, Don’t Live to Work applies here – control your money so that it does not control you!
Subscribe to the EBF Weekly + FinReg Agenda
Every Friday at noon you can receive the EBF Weekly + Financial Regulation Agenda. This agenda presents an overview of upcoming European and international meetings and conferences in financial regulation, as well as important general financial and economic events and key EBF meetings for the week ahead. CLICK HERE TO SUBSCRIBE
Subscribe to the EBF Morning Brief
The EBF Morning Brief is published Monday through Friday morning and brings you the top banking headlines, relevant announcements from the EU institutions and the latest from the EBF and its members, national banking associations in 32 countries in Europe. CLICK HERE TO SUBSCRIBE
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]]>EBF financial education initiative recognized as Best Trade Body Campaign 2018
- Public Affairs Awards Europe 2018 celebrated in Brussels
- European Money Quiz 2018 was nominated for two awards
BRUSSELS, 22 November 2018 — The European Money Quiz, a financial education initiative by national banking associations in Europe under coordination by the European Banking Federation, on Wednesday was recognized as the best 2018 Trade Body Campaign in Europe in the Brussels awards ceremony hosted by the UK-based Public Relations and Communications Association (PRCA). A jury consisting of European public affairs professionals praised the European Money Quiz as a project that managed to make a significant impact on a relatively low budget.
More than 41.000 kids in the 13-15 year-0ld age group this year took part in the European Money Quiz by playing the online quiz with their classroom in national finals organized by banking associations across Europe. National winners from 25 countries travelled to Brussels in May to compete against each other in the European finals, hosted at the meeting centre of the EBF in Brussels.
VIDEO: European Money Quiz Finals in Brussels:
National finals were held during March and April and organized by the participating national banking associations. In most countries classrooms countries played directly against each other through a live online quiz via the Kahoot! online learning platform. The list of countries represented in the finals included Albania, Austria, Belgium, Croatia, the Czech Republic, Estonia, Finland, France, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Liechtenstein, the Netherlands, Norway, Portugal, Serbia, Slovenia, Spain and Sweden.
Questions in the money quiz were available in 22 different languages. Kids competing in the European finals also answered the same questions in their own language.
Special collaboration
To promote the quiz among educators and schools national banking associations were able to draw on materials developed by the European Banking Federation and its Financial Education Project Group, together with Brussels-based consultancy Cambre Associates. The toolkit included sample questions, practice quizzes, teacher instructions as well as a videos, infographics and other materials that were all available to national coordinators in the language of their country. The European Money Quiz also was nominated for the award for best in-house collaboration in public affairs, recognizing the special aspects of the partnership with Cambre Associates.
A special partnership with Kahoot!, the Norway-based online quiz platforms used in millions of classrooms worldwide, was instrumental for the success of the European Money Quiz. For each of the national finals Kahoot! hosted a live-stream via YouTube with questions appearing directly on smart-boards or displays in classrooms in the country. Answers were given directly online, allowing each classroom to see how well it compete against others in their country as soon as the quiz ended. The winners won a trip to Brussels for two students to participate in the European finals. The 2018 European Money Quiz final was won by the team from Poland, with Ireland and Germany taking 2nd and 3rd place.
Each team was able to answer a total of 30 financial literacy questions in their native language. The questions were available in 22 different languages and addressed topics such as savings, debt, investments, compound interest, inflation and also cyber-security.
Practice quizzes
To help students prepare for the quiz the organising banking associations had created practice quizzes. These are designed to help students test their skills and insights and determine their readiness to manage personal finances. Teachers can also use these ‘Kahoots!’ as a fun element in financial literacy classes. Since January more than 190.000 practice quizzes have been played. The practices quizzes are available at www.europeanmoneyquiz.eu and via the various national websites for the European Money Quiz.
Preparations are underway for the 2019 European Money Quiz. Most national finals are expected to be played during European Money Week, which starts on Monday 25 March. The European finals in 2019 are planned for 6-7 May in Brussels.
For more information:
National contact points for the 2018 European Money Quiz:
Subscribe to the EBF Weekly + FinReg Agenda
Every Friday at noon you can receive the EBF Weekly + Financial Regulation Agenda. This agenda presents an overview of upcoming European and international meetings and conferences in financial regulation, as well as important general financial and economic events and key EBF meetings for the week ahead. CLICK HERE TO SUBSCRIBE
Subscribe to the EBF Morning Brief
The EBF Morning Brief is published Monday through Friday morning and brings you the top banking headlines, relevant announcements from the EU institutions and the latest from the EBF and its members, national banking associations in 32 countries in Europe. CLICK HERE TO SUBSCRIBE
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