400 billion euros. This symbolic milestone was exceeded at the end of June according to the monthly statement from the Caisse des Dépots. In just 6 months, in 2023, the Livret A has drained almost as much money as over the whole of 2022, already exceptional.
At the end of May, the sums amassed on the Livret A had remained frozen at 399.9 billion euros. At 0.1 billion of an unprecedented symbolic cap. Unsurprisingly, the 400 billion euro milestone was therefore crossed in June 2023, with a new record at stake: an outstanding amount of 401.3 billion euros.
Livret A outstandings (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.
This is not the only record that the Livret A broke in June: Over the first six months of the year 2023, the Livret A has experienced a historic collection of 25.84 billion euros. The previous record dated back to 2009 (21.36 billion euros), notes the economist Philippe Crevel, director of the Cercle de l’pargne. The year 2009 being very special for the Livret A, since it is synonymous with opening up marketing in all the banks, we can speak of a record semester, at least in a classic configuration.
Philippe Crevel thus underlines that the first half of 2023 even beats the very special period of the first confinement: In 2020, during the first half marked by the Covid epidemic, the collection had risen to 20.41 billion euros.
Livret A 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.
LDDS: the approach of 10 billion euros in collection in 2023
The quasi-twin of the Livret A, the Livret de développement durable et solidaire (LDDS), also remunerated at 3%, follows the same dynamic. Inflows in June were 0.83 billion euros, compared to 1.05 billion euros in May, compared with an inflow of 0.25 billion euros in June 2022. With 8.70 billion euros in net inflows over the first six months of 2023, the 10 billion mark should quickly be crossed: 2009, emphasizes Philippe Crevel. Over the first six months of the year, its previous record dated back to 2013 (6.43 billion euros) when its ceiling was doubled (12,000 euros instead of 6,000 euros).
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.
With the rate blocked at 3%, should we expect a decline in the collection of Livret A and LDDS accounts in the summer of 2023? No, thinks Philippe Crevel: The decision to freeze the yield at 3% for 18 months should not fundamentally affect the collection of the Livret A even if the effect of raising the rate will fade over time. With a rate of 3%, the Livret A, like the LDDS, remains competitive with the vast majority of investments.
Livret A blocked at 3%: with 1000euros, how much interest will you earn in 1, 5 or 10 years?