The Livret A account once again seduced savers in July, with a net inflow of 2.64 billion euros according to data published Tuesday by the Caisse des dépôts.
Record savings thanks to the announcement of a doubling in August of its rate of pay, to 2%.
Two wage rate increases in 2022
This positive balance between deposits and withdrawals, the highest since 2009, brings the total outstanding amount of the Livret A to 362.5 billion euros. The outstanding amount combined with that of the Sustainable and Solidarity Development Booklet (LDDS), which increased by 480 million euros last month, stands at 491.8 billion euros. The outstanding amount of the two regulated passbooks has swelled by more than 22 billion euros since January 1, more than in 2021 as a whole.
The success of these very popular, guaranteed and liquid savings products is linked to the increase in their interest rates, which rose from 0.5% to 1% on February 1 and then from 1% to 2% on August 1.
The second level was announced on July 15 by the Minister of the Economy Bruno Le Maire, on the recommendation of the Governor of the Banque de France François Villeroy de Galhau. This increase should also continue on February 1 of next year, according to the latter, in charge of the calculation.
But a negative return given inflation
But the yield on the Livret A remains negative taking inflation into account. The latter reached 6.1% over one year in July according to INSEE.
Managed jointly by the Caisse des dépôts 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 to energy savings in housing.
These figures do not include those of the People’s Savings Book (LEP), reserved for households with little or no tax, whose remuneration rose to 4.6% on August 1.