The Federal Reserve Board and the Securities and Exchange Commission unveiled a partnership Friday to educate adults on the benefits of saving and investing.

The two agencies have teamed up to produce an interactive program called "It's Your Money" that will air Nov. 9 at noon Eastern Standard Time. It will be broadcast to 900 community colleges and over American Financial Skylink, the American Bankers Association's satellite network.

"Americans are not high savers," Fed Vice Chairwoman Alice Rivlin said Friday. "Americans are consumer oriented. They need to know how to save more and invest the savings wisely."

The first half of the hourlong program includes a presentation on investing by SEC Chairman Arthur Levitt. Ms. Rivlin will lead a question and answer session during the second half hour.

- Pieter J. Ketelaar - special to the American Banker

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