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Today, 22 November, CECA has held its annual Financial Education conference. Another year, and already in its seventh edition, CECA and its associated companies come back to their commitment to financial education in Spain. As in previous years, the closure of this meeting was timed to coincide with the awarding of the Financial Education and Social Work awards in collaboration with the magazine Actualidad Económica, in recognition of the work and effort that companies put into both matters.
The new challenges and opportunities that are arising from digitisation, innovation and new technologies applied to Financial Education have been the central focus of the Conference. Also during the meeting, emphasis was placed on the need to make good use of advances in these fields to offer quality Financial Education that is accessible to all sectors of society, especially the most vulnerable, removing any barrier that might exclude the few.
More than 300 banking leaders and experts from all over the world headed to the Thai capital to celebrate the two-day annual meeting of the World Savings and Retail Banking Institute (WSBI). Organised by the Government Savings Bank, Thai member of the WSBI, the event brought together members of the WSBI, senior political leaders of the country, high-level bankers and technology experts to analyse the future of banking in the twenty-first century.
Work sessions were focused on the human element; that is to say, on clients and on retail banking.
On 15 and 16 September around forty managers from more than ten countries met in Malaga for the annual International Summer Forum, to learn and share experiences that could help SMEs. The ESBG event was jointly organised by CECA, with the support of Unicaja.
The forum was structured around lectures and round tables concentrating on the business of SMEs from different perspectives, including the current legal and regulatory environment, which is being revised by the European Commission. Participants explored ways of financing of SMEs and new market operators: business startups and fintechs that compete with banks, most notably in the field of the payments and new digital services.
From June 27 to 1 July the week-long seminar Challenges of the Spanish economy took place, sponsored by Funcas, as part of the summer courses that the International University Menéndez Pelayo (UIMP) holds annually in Santander. The coordinators of the course, management and secretariat, were professors José Félix Sanz-Sanz (Complutense University of Madrid and Funcas) and Desiderio Romero-Jordán (Rey Juan Carlos University and Funcas). The course was privileged to have a select group of experts in the different subject fields analysed.
The course was structured in four blocks in which the Spanish economic model, tax policy, spending policies and the future of Spanish banking were discussed
This Wednesday saw the launch of Socially Responsible Investment (ISR) week, a meeting that Spainfsif has organised for several years with the aim of promoting this market and favouring relationships between investors and institutions. This time, the event was inaugurated by Carmen Casero, CEO of Self-Employment, Social Economy and Corporate Social Responsibility who, in her speech, called for greater co-operation between the public sector and the private one to make this concept reach general public to a greater and better extent. Casero considers that “the path is not easy” and for this reason pointed out that “it is the right thing to try to increase the diffusion of SRI
During his presentation of “Spanish economy papers: Digital transformation in methods of payments”, the CEO of the Savings Banks Foundation (Funcas), Carlos Ocaña, remarked that banking and finances are “changing radically” and added that Spain is following the trend.
“Spanish banking is reasonably well-positioned, banks are not very different to those of the rest of Europe”, he affirmed, although he went on to explain that Scandinavian countries are ahead of the game in this regard.
The chairman of the U.S. association "Independent Community Bankers of America” (ICBA), Camden Fine, stressed that “the techno-financial sector is derailing the traditional banking model”. Nonetheless, Fine underlined the need for legislation that regulates the privacy of clients' information and their operations.
Asked about the threat that virtual currencies such as the bitcoin may pose, the chairman of the ICBA believes that they do not represent a danger, since the majority of businesses do not accept them as means of payment.
The Director of Financial Studies of Funcas, Santiago Carbó, shared his opinion on the bitcoin and sees “quite a limited impact” of this currency.
The CEO of the Spanish Confederation of Savings Banks (CECA), José María Méndez, has concluded that traditional banks must invest in digital transformation and improve links with clients.
For more information, see the original at: http://www.lavanguardia.com/vida/20160526/402060142053/el-cambio-digital-abre-el-mercado-financiero-a-nuevos-clientes-segun-funcas.html
The Vice Chairman of the European Investment Bank, Román Escolano, has played a significant role today in the fourth edition of the Financial Meeting that the EIB promotes in partnership with CECA and AEB, with the aim of connecting the Spanish financial industry with key players in the European institutions. On this occasion, the meeting, which took place at CECA's Madrid head offices, brought together more than a hundred professionals, among them representatives of the regulation and monitoring authorities, senior managers of the sector, as well as other participants in the financial industry.
In his lecture, Román Escolano defined the Plan of Investments for Europe as “a tool designed to give a strong boost to investment in Europe. The objective of this Plan is to mobilise a quantity of additional investments for a total value of 315,000 million euros until 2018”.
The creation of the banking union has led to a redefinition of the national authorities' responsibilities (Banco de España and FROB mostly, although also CNMV to a certain extent), and their integration in the new mechanisms on a European level, on the basis of three pillars: the Single Supervisory Mechanism, the Single Resolution Mechanism and the future European deposit guarantee fund.
Read our CEO's closing speech of the XXIII Financial Meeting/ABC, Deloitte
Today, 2nd December the VI Conference of Financial Education was held, organised by CECA in line with its commitment to disseminating financial education in Spain. As in previous years, the closing ceremony coincided with the presentation of the Financial Education and Social Fund Awards, in collaboration with the magazine Actualidad Económica, in recognition of the companies' work and effort in both matters. The opening ceremony featured Antonio Romero Mora, Director of CECA's Associative Service and Audit Division, and he shared the table with Fernando Tejada de la Fuente, Director of Market Behaviour and Claims of the Banco de España, and Gloria Caballero Núñez, Deputy Director of Studies, Statistics and Publications of the National Stock Market Commission (CNMV), the latter being promotors of the Financial Education Plan 2013-2017.
Today, 5 October, the first Financial Education Day was held, within the framework of the Financial Education Plan 2013-2017, in which CECA participates as a collaborating body. Through its partners, CECA has carried out numerous activities throughout the whole of Spain with the aim of promoting the importance of financial planning, saving and accessing information as the bases of economic decision making.
Today, as an opening ceremony, an event has taken place in the head office of Banco de España which involved representatives of all interest groups committed to this matter including public authorities, credit institutions and teachers. In addition, the III School Prizes for Financial Education were presented.
Similarly, this headquarters has issued a special edition of the FUNCAS Finance programme, suitable for the general public of RNE-5, whose participants include Banco de España, CNMV, CECA, as well as teachers and winning students. In addition, at the end of this month, Carlos Monasterio, Professor of Economics at the University of Oviedo, will deliver a seminar on "Financial Regulation and Transparency" at the CECA headquarters, in collaboration with FUNCAS.
The 24th Congress of the World Savings and Retail Banking Institute and the European Savings and Retail Banking Group (WSBI-ESBG) has taken place in Washington under the slogan “Main Street Banking in a digitised World”. This event, that brought together representatives of financial institutions, technology companies and authorities from all over the world, including the Spanish Minister of Economy and Competitiveness, Luis de Guindos, has served as a platform to consider the challenges and opportunities that digital transformation poses in the banking business. CECA, which plays a very active role in the WSBI and has been one of the Congress' sponsors, was represented through several of its executives, including its chairman, Isidro Fainé, who currently holds the chairmanship of the ESBG. During his presentation, Isidro Fainé affirmed that “the digital revolution offers opportunities to be closer to our clients, to know them even better, via tools such as big data, and to offer them a better and more customised service”.
Week from 1 to 9 June.
01/06 – Climate change and contributions of SRI (CECA, C/ Caballero de Gracia, 28, Madrid)
02/06 – Social and governance aspects of SRI: best practice (Barcelona)
03/06 – Resolving doubts in the implementation of SRI (Madrid)
08/06 – New information on extrafinancial risks in employment PP (Madrid. CECA, C/ Caballero de Gracia, 28)
09/06 – Climate change and contributions from SRI (Zaragoza)
III Financial Meeting, Andrea Enria, chair of the EBA - 14 January 2015
The III Financial Meeting brought together over two hundred Spanish financial industry representatives to hear European Banking Authority (EBA) President, Andrea Enria's perspective on the chairperson and immediate future of the European financial sector. Joint-organised event, for the first time, by CECA and EBA.
In her presentation, Andrea Enria reviewed the landmarks in the restructuring of the European financial system, along with future challenges that, in her opinion, involve finalising reform of the European financial system and the deleverage of the public and private sectors, to improve the operation of internal models of risk management and to recover confidence.
High level of attendance and participation. Rodrigo Amandi explained the conclusions of the study, that you can download in full from the Spainsif website. www.spainsif.es
The study gives a series examples and good practices with the aim of optimising costs in the companies that manage processes of SRI implementation in areas such as the development of SRI policies, their implementation via different investment strategies such as exclusion, the integration of ESG information and the shareholding implications (engagement and vote), the monitoring of investment portfolios and the area of reporting and disseminating SRI practices by management companies.
The V Conference of Financial Education was chaired by José María Méndez, CEO of CECA, and in his opening speech he highlighted that “the Conference responds to the need for better financial training of the public, facing information asymmetries with companies and the increasing complexity of their decisions.” All entities committed to the matter, including public authorities, CNMV, Banco de España and Ministry of Education participated in the meeting; credit institutions, mediators, teachers, volunteers, and suppliers of services.
Actualidad Económica awarded prizes to 20 foundations for their support for the most outstanding projects of the year in social action, local development and encouragement of job creation, culture and heritage, education and research, environment, sport and leisure and, for the first time, financial education. In addition, on this occasion, Actualidad Económica presented two special Jury awards, by Obra Social and Financial Education, to Cajasol and Unicaja respectively.
The V Annual Event of Spainsif, held yesterday and sponsored by Cecabank, Fonditel and KPMG, gathered 240 people involved in Socially Responsible Investment: managers and professionals of the financial and insurance sector, asset managers, representatives of the public administration, academia, entrepreneurs, consumer associations, trade unions and the social sector, that filled the seating capacity of the Madrid headquarters of the Economic and Social Council. Attendees applauded the strengthening of SRI in Spain, in the light of its increase through management strategies, between 2011 and 2013, above the market at large. One particularly noteworthy strategy is exclusion based on standards, that has gone up by 258%, indicating a greater strengthening and maturity of the market.