The Livret A is still popular in France. The French filled their Livrets A with 600 million euros in November: a rather honorable amount for the period, demonstrating their interest in this product, according to data published on Wednesday by the Caisse des dépôts. The Livret A is therefore experiencing a rebound compared to October, when cash withdrawals were greater than deposits. And a year ago at the same time, the population withdrew 90 million euros more than they had deposited.
But since the beginning of the year, the Livret A has recorded a net inflow of nearly 25.8 billion euros. That is a level close to 26.4 billion recorded in 2020, an exceptional year in this respect, marked by the outbreak of Covid-19. By way of comparison, the Livret A had earned 15.17 billion euros in 2021 and 12.64 in 2019.
A rate that will further increase “significantly”
The year 2022 will have been marked by two successive rate hikes in February and August, with the yield rising from 0.5% to 2% in a few months. And this will continue: according to the Governor of the Banque de France, the rate will increase again next February, and in a “significant” way.
The yield on the Livret A could thus move towards 3%, or even a little beyond, given the latest inflation figures, on which the authorities in particular rely to set the rate. The Livret de développement durable et solidaire (LDDS), for its part, followed the same trend as the Livret A in November, with a net collection of 430 million euros.
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. The outstanding amount of the two passbooks reached 500.5 billion euros, an increase of +6.8% over one year.