Financial education

Consumers have to face financial decisions on daily basis from making payments, taking loans to finance their studies, to buying a car or a house or opening a bank account. Financial education and financial literacy can help consumers plan and manage their income, be more aware of the importance of saving and make a more responsible use of credit or invest efficiently by paying attention to risks, fraud and potentially cybersecurity.

The European Banking Authority (EBA) takes a leading role in promoting transparency, simplicity and fairness in the market for consumer financial products or services across the internal market, including by reviewing and coordinating financial literacy and education initiatives by the national supervisory authorities.

In March 2020, the EBA published its second Financial Education Report 2019/20. The Report is based on the EBA financial education repository, which consists of more than 120 financial education initiatives taken by national authorities carried out primarily during 2018 and 2019. The Report describes the most common approaches used by national authorities and the lessons learned and experiences gained. Compared to the 2018/19 report, the most recent edition includes new aspects such as the interplay between financial education and financial conduct regulation and supervision of the financial system. In addition, it highlights the increasing role of financial innovation and the growing focus on specific target groups, such as children and youth and elderly. It also identifies a number of developments that could influence future financial education initiatives, including behavioural economics, sustainable finance, and advanced analytics and big data.

In addition, the EBA developed a one-page information sheet providing consumers with tips to protect themselves when choosing online or mobile banking services. This document has been translated in all EU official languages and been disseminated by the national authorities in all Member States.

Financial education report 2019/20
Financial Education Report 2019/20

(5.15 MB - PDF) Last update 22 October 2020

Factsheet on financial education and literacy
Factsheet – Coordinating financial education and literacy

(521.68 KB - PDF) Last update 13 November 2020

Factsheet for consumers
EBA factsheet for consumers

(1.41 MB - PDF) Last update 2 December 2019

Financial education report 2017/18
EBA Financial Education Report

(923.32 KB - PDF) Last update 30 March 2020

EBA Repository 2021-2022 (full version)
Financial education initiatives by the National Supervisory Authorities - repository

(2.68 MB - PDF) Last update 14 February 2022

Summary table
Financial education initiatives by the National Supervisory Authorities - summary table

(290.2 KB - PDF) Last update 14 February 2022

EBA Repository 2019-2020

Financial education initiatives country per country

ESAs high-level conference on financial education and literacy

This joint ESAs conference will bring together high-level government representatives as well as experts from public authorities, academia, NGOs, consumer associations and the industry, to exchange ideas and experiences, stimulate the discussion and raise awareness on financial education and literacy.

1 & 2 February 2022

Digital financial education and literacy in the COVID-19 context

The European Banking Authority (EBA) held a virtual panel on 30 September 2020 dedicated to digital financial education and literacy in the Covid-19 context.

As an EU Agency working to achieve a more integrated approach to banking supervision in the EU, the EBA organised this virtual event as part of its efforts to review and coordinate financial literacy and education initiatives by the competent authorities.

30 September 2020