The Livret A account recorded a net inflow of 16.5 billion euros during the first six months of the year. The regulated savings account benefits from the revaluation of the rate on February 1st.
If this sum turns out to be slightly less than the 16.74 billion euros net collected over the first six months of the year 2021, while France was still experiencing episodes of confinement and curfew, it is much more than the 11.57 billion euros for 2019.
The year 2020 was exceptional with 20.41 billion earned in the first half, a direct consequence of the pandemic and the confinements.
If the pandemic had acted as a catalyst for this savings account held by nearly 55 million French people, it now seems that it is the revaluation of the Livret A rate, raised to 1% on February 1 (compared to 0.5% previously, a floor history), which pushed the French towards this means of savings in the first half of the year. And a new revaluation is coming on August 1, 2%.
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A success driven by the rate hike on February 1
In February and March, the net inflow generated by the Livret A (i.e. the difference between deposits and withdrawals) was bigger than last year the same period. Conversely, the months of April and May then did less well than in 2021. Finally, June held up well, with 1.04 billion euros collected.
By adding the Sustainable and Solidarity Development Booklet (LDDS), these are 19.06 billion euros net that the French placed in the first half.
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Managed jointly by the Caisse des Dépts and the banking networks, the Livret A is mainly used to finance social housing, while the LDDS is dedicated to the social and solidarity economy as well as energy savings in housing.
Phenomenon, national totem… The underside of Livret A, this unique savings product in the world
At the start of the Covid-19 crisis, the Livret A and LDDS accounts saw a very sharp increase in investments, benefiting from their safe haven statusto the detriment of life insurance which had then experienced a fall in its contributions.
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