The outstanding amount of Livrets A and Livrets de développement durable et solidaire (LDDS) increased by 40 billion euros in 2022, a record since 2012, due to the high level of deposits and interest paid at the end of the year, according to data released Monday by the Caisse des dépôts (CDC). It stood at 509.7 billion euros at December 31, 2022, compared to 469.7 billion at the end of 2021.
In detail, French savers deposited 33.49 billion euros more in passbooks A and LDDS than they withdrew, a level comparable to 2020 (35.21 billion euros). But the interest paid for the year 2022 (6.56 billion euros) is higher than 2020 due to a slightly higher outstanding amount and above all the rise in interest rates last year, in two stages on February 1 and August 1.
The total is therefore at its highest since 2012, a prosperous year for the two booklets, which at the time had aggregated 49.16 billion euros in net collection and 6.62 billion in interest.
Rising interest rates
Regulated savings have once again been on the rise since the beginning of last year. The month of December bears witness to this, with 2.69 billion euros added in total to the two booklets.
The rise in wage rates plays a full role. Still at its lowest level of 0.5% a year ago, the Livret A rate doubled for the first time on February 1, 2022 and then again on August 1, to reach 2%, as a result of a calculation formula including inflation, which is high in France.
The rise in prices also encourages the French to further optimize their savings by moving, for example, to their savings accounts A money dormant in current accounts. On February 1, 2023, the rate of the Livret A will be raised to 3%, as noted on January 13 by the Minister of the Economy Bruno Le Maire, on a proposal from the Governor of the Banque de France. A first since 2009.