ben s bernanke : the importance of financial education and the national jump $ tart coalition survey speech by mr ben s bernanke, chairman of the board of governors of the us federal reserve system, at the jump $ tart coalition for personal financial literacy and federal reserve board joint news conference, federal reserve board, washington dc, 9 april 2008. * * * good morning. it is my pleasure to welcome you to today's briefing on the results of the jump $ tart coalition's biennial financial literacy survey of america's high school seniors. the financial preparedness of our nation's youth is essential to their well - being and of vital importance to our economic future. in light of the problems that have arisen in the subprime mortgage market, we are reminded of how critically important it is for individuals to become financially literate at an early age so that they are better prepared to make decisions and navigate an increasingly complex financial marketplace. choosing a credit card, saving for retirement or for a child's education, or buying a home now requires more financial savvy than ever before. financial literacy and consumer education – coupled with robust consumer protection – makes the financial marketplace effective and efficient, and better equips consumers to make tough yet smart financial decisions. today, only eight states across the u. s. require personal finance before middle or high school graduation. i believe more states should consider making personal finance a requirement for all students who seek a high school diploma. i am personally convinced that improving education is vital to the future of our economy and all its citizens, and i strongly believe that promoting financial literacy, in particular, must be a high priority. i know that those of you here today join me in this conviction. the jump $ tart coalition is a leader among organizations seeking to improve the personal financial literacy of students from kindergarten to the university level. in particular, through its biennial survey of high school seniors – the results of which you will hear about shortly – jump $ tart has brought increased attention to the need for greater financial literacy among the youth of our nation. during the jump $ tart survey's 12 - year history, the data gathered have served as the basis for useful measures of what young adults do and don't understand about finances. undoubtedly, we will soon learn that there is plenty of work to be done and that our students have much to learn. the federal reserve is strongly committed to jump $ tart's mission

##ve customers over the years and measures were required to be taken by the banks to protect the customers. while it is good to know that banks have played their roles in investing in robust security systems, they must also ensure that customers play their part in protecting their own assets and savings. the reminder and greater awareness from the banks through this campaign is timely. it will not only reinforce the need for constant vigilance from all parties, but also help create an environment where everyone is risk conscious and responsible in protecting the interests of each other. these initiatives would not achieve the desired outcomes without effective bis central bankers ’ speeches communication, and the media has a critical role to play in conveying the message from the banks. we have always acknowledged the importance of the media and i would like to record bank negara malaysia ’ s appreciation for the assistance rendered by the media in creating awareness of this issue in the past. we hope that with the support of the media on this occasion too, this campaign will be a success, and the public will have heightened levels of understanding and vigilance over this issue. on behalf of bank negara malaysia, i would like to thank all the banks for taking this initiative to undertake this joint e - banking awareness campaign. our thanks also to cyber security and the police force for your ongoing efforts to collaborate with the banking industry. i wish all of you the best and assure you that bank negara malaysia will continuously support you in this noble effort. bis central bankers ’ speeches