"We are a public institution, and that requires us to be very transparent in explaining exactly what we do, how we do it and in being accountable, so that the public at large – who are ultimately our bosses – can tell us, look, you’re doing this well, or you’re not doing this well, or you need to improve in this area."

How the Banco de España works for you: transparency, financial education, cash and the digital euro in an episode open to the public

What does the Banco de España do? How does it affect people’s daily lives? At the Banco de España, we are committed to transparency, proximity and clarity, and to explain our work in detail, we opened our CIENxCIEN podcast to the public during Open Government Week.

In these times of uncertainty, change and rapid technological transformation, it isn’t always easy to distinguish what’s true from what isn’t. That’s why trusting public institutions matters more than ever. This episode explores issues that affect all of us: transparency, in-person and digital services, local presence, financial education, the importance of cash and the development of the digital euro – initiatives through which the Banco de España aims to provide direct support to people.

This episode is so special that we’re presenting it in two parts:

You can listen to this episode in other languages by choosing your preferred audio track in the YouTube settings. The dubbing is done automatically and has not been reviewed by the Banco de España.

The episode opens with a clear idea: public institutions must be accountable and explain what they do. Inés Calderón stresses that the Banco de España works for the public and that this responsibility calls for real transparency – not only in its results, but also in its processes, decisions and the impact of its work.

Open Government Week is an opportunity to strengthen that commitment by opening its doors, sharing what we do and listening to society. This philosophy is at the heart of the CIENxCIEN podcast, created to bring the Bank closer to people and explain its role in the economy and in everyday life in a clear, accessible way.

Víctor Lapuente heads the newly created Global Trends and Institutions Analysis Office.  His team addresses and analyses both the immediate challenges ahead and the deeper changes shaping our societies, staying alert to current developments while keeping an eye on the longer term. “You can’t understand the economy without staying closely connected to the real word”. This also applies to public institutions, as the Office faces the challenge of assessing whether trust is declining and, if so, helping to rebuild public confidence. 

And what better way to stay in touch with reality than through the Banco de España’s branch network? With branches across much of the country, this network remains essential for staying close to people, providing services nationwide and ensuring access to something as important as cash. Manuela Sebastián heads the department and explains why proximity, trust and a resilient financial and payments system are key to understanding the role of the branches.

The first part of the episode closes with Roberto España, head of the Financial Education Division, another of the Banco de España’s major priorities. Its aim is to provide the answers people may need in their daily lives and to improve both their financial well-being and the way the system as a whole works. Roberto talks us through all the initiatives currently under way, convinced that “financial education improves people’s lives”.

Puedes escuchar este episodio doblado a otros idiomas de forma automática (sin intervención ni revisión alguna por parte del Banco de España) seleccionando la pista de audio deseada en el icono de configuración de la pantalla de YouTube.

Contrary to what some may claim, cash and the digital euro are two sides of the same coin. To confirm that idea, we brought together Beatriz García, Deputy Director of the Cash Department, and Sergio Gorjón, head of the Means of Payment and Payment Infrastructure Innovation Division.

Although its use has declined, cash remains a fundamental part of the monetary system. Beatriz García points out that cash is the only means of payment that does not require electricity or an internet connection, which makes it essential in exceptional situations.

The Banco de España works to ensure that cash remains safe, accessible and reliable, maintaining the infrastructure needed to keep it in circulation. With its own built-in technology, cash represents trust, privacy and freedom of choice for the public.

Sergio Gorjón introduces the digital euro, a Eurosystem project that aims to bring the characteristics of central bank money – security, free access, privacy and widespread acceptance – into the digital environment.

Rather than replacing cash, the digital euro is designed to complement it. It will make it possible to pay in digital and remote settings, make person-to-person payments or shop online, while ensuring a high level of privacy and offering a public alternative in a landscape dominated by private payment methods.

To explain how it works, Ana Comellas puts everyday payment situations to Beatriz and Sergio, so they can show us how these situations can be handled using cash and, in the future, digital euro.

Both episodes share an idea that runs through every conversation: the Banco de España works for you. Through its branches, financial education, cash management and innovation in digital money, its goal is to help build an economic system that is stable, inclusive and trustworthy.

An episode that takes you behind the scenes at the Bank and shows just how much closer it is than you might think.