The French made strong withdrawals from the Livret A in October

Obviously, October is a delicate month for the Livret A. The latter is generally plucked at this time and 2021 was no exception. It thus recorded an outflow of 2.83 billion euros, according to figures published on November 23 by the Caisse des Dépôts. Its worst monthly result since October 2014 (- 2.93 billion).

If we add the loss posted by the Livret de développement durable et solidaire (LDDS), whose operating methods are very similar to those of the Livret A, the total loss for the month of October reached 3.40 billion euros. euros. This brings the outstanding amount of these two booklets (all of the sums deposited) to some 469 billion.

This outflow is the ninth in a row for an October, since we have to go back to 2012 to find a positive performance that month. This year 2012 was special for the booklet, an increase in the ceiling, that is to say the maximum amount that can be deposited there while taking advantage of the tax exemption of interest, took place on 1er October.

In 2020, October was marked by a negative result of 940 million euros – 1.01 billion by adding the figures of the LDDS.

Property tax and sunny days

No wonder: October is ” damn “ for the Livret A, recalls Philippe Crevel, founder of the Cercle de l’épargne, “Due, in particular, to the payment of property tax, the last expenses linked to the start of the school year and university, but also because it is a month when households traditionally incur expenses for fitting out their housing”.

Other factors may have been added last month, he continues: “We will have to wait for the figures from INSEE to confirm it, but we can think that households were more pleased by leaving more than usual during weekends and the first week of vacation, taking advantage of sunny days. fall, especially young working people. “

Since the start of the health crisis, the Livret A has chained the exceptional collections: its outstandings had swelled by 40.9 billion between the beginning of March 2020 and the end of September 2021. The months of outflow since spring 2020 have been rare: besides October 2020 (- 940 million), only December 2020 (- 840 million) was negative for this booklet.

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Since the beginning of January 2021, Livret A and LDDS have collected a total of 20.64 billion euros (against 31.73 billion over the first ten months of 2020, but 16.77 for the same period in 2019).

As for the remuneration of the Livret A (which is the same as that of the LDDS), if it has remained unchanged since February 2020, at 0.50%, its historic low, it could move slightly upwards at the 1er February 2022, due to inflation, which is part of the rate setting formula. But as always, it will be the government that will have the final say in this matter.

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