After more than 9 billion in January and more than 6 billion in February, the collection of Livret A accounts slowed down in March but still represents just over 4 billion euros according to figures from Caisse des Dépôts. That of the Sustainable and Solidarity Development Booklet (LDDS) has remained steady since the beginning of the year at just under 2 billion per month.
In total, the collection of these two passbooks remunerated at 3% since February 1, represented nearly 6 billion euros in March and reached a record level of around 25.4 billion euros over the whole of the first quarter of 2023. In comparison, the assets of the two passbooks had only increased by around 14 billion in the first quarter of 2022.
Transfers from demand deposits
” Households continue to recycle their cash by transferring it to their Livret A and their LDDS. Outstanding sight deposits (bank current accounts) increased from 542 to 509 billion euros from the end of September 2022 to the end of February 2023. This phenomenon of reclassification of liquidities favors the LDDS which is more often than the Livret A coupled with the current account explains Philippe Crevel, director of Cercle de l’Epargne.
Waiting for the next pay rate hike
The total outstanding amount of Livret A therefore continues to rise and now stands at 395.1 billion euros. By adding the 140 billion placed on the LDDS, we obtain a record kitty of 535.1 billion euros which should continue to be fed in the coming months and probably again this summer with the new expected increase in the rate of remuneration of the two booklets .