The outstanding amount of Livrets A and Livrets de développement durable et solidaire (LDDS) increased by 3.40 billion euros in February, much less than in February 2023, but more than in January 2024, according to figures published on Wednesday by the Caisse des Dépôts (CDC).
In detail, deposits into Livret A accounts exceeded withdrawals by 2.36 billion euros last month, and by 1.04 billion euros for LDDS. The sum of these two so-called net collection amounts is almost twice lower than February 2023 (6.64 billion euros), but nevertheless constitutes the fourth performance for a second month of the year since the generalization of distribution in all banks 15 years ago.
It is also higher than the net collection for the month of January (3.25 billion euros), although it is very conducive to savings, a first since 2009. The total outstanding amount of Livrets A and LDDS reached a record level of 571 at the end of February .5 billion euros. The appeal of these two products, with guaranteed capital available at any time, is losing steam somewhat, but remains strong since the fixing of its 3% net rate until January 2025.
Unprecedented for LEP
They continue to be more advantageous than euro life insurance funds, whose average rate (excluding tax and social security deductions) for 2023 is 2.6% according to a first estimate from the Prudential Control and Resolution Authority. (ACPR) published on Tuesday, and benefit from a reallocation by the French of sums lying dormant in their current accounts.
The sums deposited in Livrets A and LDDS are 59.5% managed by the Caisse des Dépôts, and intended mainly to finance social housing and urban renewal. The remaining 40.5% is managed by banks, and must be mainly dedicated to bank loans to SMEs.
The Popular Savings Booklet (LEP), accessible under income conditions, for its part swelled by 1.39 billion euros last month, again according to the CDC, in 3rd place for the best performance for 15 years after 2022 and 2023 .
This slowdown linked to the drop in its rate, which went from 6% to 5% on February 1, however, allows it to pass the threshold of 75 billion euros in outstandings, something never seen before. More and more French people hold a LEP: 10.9 million at the last count at the end of last December, compared to some 56 million Livret A books.
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