French households have again dug into their current accounts in the first quarter, according to a quarterly barometer from the Banque de France published on Friday, while at the same time the Livret A was full.
THE dormant amounts in cashi.e. the outstanding amount of banknotes and coins, and on sight accounts have indeed drop of 18.5 billion euros between January and March, after an already substantial decline of 14.1 billion euros in the previous three months. Nevertheless, 782.4 billion euros remained in this form as of March 31, 2023.
This decline is closer to the filling of the Livret A and the Livret de développement durable et solidaire, which attracted 25.4 billion euros in the first quarter, and still some 9 billion more since, according to data shared each month by the Caisse des Dépts. .
Here is the real rate of the Livret A for the year 2023 (and it is not 3%)
It must be said that at 3% net since February 1, these two regulated savings products are much more attractive than the remuneration of sight deposits offered by banks, by 0.04% on average in June for individuals. Banking institutions have nevertheless made a small effort for businesses, whose view deposits are paid twelve times more, 0.48% on average.
The fall in euro funds is accelerating
Another financial product also bears the brunt of this fierce competition from the Livret A: the euro life insurance funds.
The latter have been experiencing a negative net collection (ie benefits in excess of contributions) for several years which is accelerating: they have deflated by 15.5 billion euros in the first half, according to figures from the professional federation France Assurers.
Life insurance: comparison of offers
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