Outstandings of Livrets A and Livrets de développement durable et solidaire (LDDS) increased to €40 billion in 2022, a record since 2012, due to the high level of deposits and interest paid at the end of the year.
It stood at 509.7 billion euros on December 31, 2022, against 469.7 billion at the end of 2021, according to data released Monday by the Caisse des Dépts (CDC).
In detail, French savers have deposited 33.49 billion euros more on Livret A and LDDS savings accounts than they withdrew, a comparable level in 2020 (35.21 billion euros). But the interest paid for the year 2022 (6.56 billion euros) is higher than 2020 due to a slightly higher outstanding amount and especially the rise in interest rates last year, in two stages February 1st then August 1st.
So the total is highest since 2012a prosperous year for the two booklets, which at the time had aggregated 49.16 billion euros in net collection and 6.62 billion in interest.
The interest rate effect plays full
Regulated savings has once again been on the rise since the beginning of last year. The month of December bears witness to this, with 2.69 billion euros added in total to the two booklets.
Livret A and LDD collection (in billions of euros)
Source of data: monthly press releases from the Caisse des Dépts on the flows and outstandings of Livret A and LDD savings accounts.
The rise in pay rates plays a major role. Still at its lowest level of 0.50% a year ago, the Livret A rate doubled for the first time on February 1, 2022 and then again on August 1, to reach 2%, as a result of a calculation formula incorporating inflation, high in France. The rise in prices also encourages the French to further optimize their savings by moving, for example, money dormant in current accounts to their Livret A savings accounts.
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These two booklets also no longer blush before the euro funds of life insurance, quite the contrary. The rates of the latter for 2022 are expected on average between 1.80% and 1.90%, according to Cyrille Chartier-Kastler, founder of the firm Facts & Figures.
On February 1, 2023, the Livret A rate will already be far off: the Minister of the Economy Bruno Le Maire, on a proposal from the Governor of the Banque de France, in fact acted on January 13 to raise the Livret A to 3% for the month next, a first since 2009.