2024-03-27 05:00:13
Praised almost relentlessly by savers for several years, the Livret A is faced with a “rich man’s problem”: what to do with all this money?
The prize pool amounts to 420 billion euros. It even comes close to 650 billion with the outstanding balance of the Sustainable and Solidarity Development Booklet (LDDS) and the Popular Savings Booklet (LEP), according to figures published on March 20 by the Caisse des Dépôts et Consignations (CDC). Thanks to the oversavings of the Covid years, then the increase in the remuneration rates of these three regulated savings accounts in 2022 and 2023, the amount of sums placed there has increased by more than 40% since the start of 2020.
They don’t sleep. For each euro deposited, a portion is kept by the bank (40% for the Livret A and the LDDS, 50% for the LEP), which must in particular use it (excluding LEP money) to lend to SMEs, finance the energy transition and reduction of the climate footprint, as well as the social and solidarity economy. The rest is “centralized” at the CDC, in the savings fund.
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At the end of 2023, it had outstanding regulated savings of 370 billion euros, to which is added 16 billion in equity. The money was used to the tune of “only” 202 billion in the form of loans, especially for social housing and urban policy, the rest was mainly placed in bonds and shares.
Current thoughts
Enough to help finance, via loans from the savings fund to EDF, the relaunch of nuclear power desired by Emmanuel Macron? Eric Lombard, the general director of the Caisse des Dépôts, is clearly in favor of it, he has explained this on several occasions. “We participate in discussions on financing methods (…). Loans will be required at eighty years, which for savings funds does not pose a problem”he confirmed on March 21 during the presentation of the group’s annual results, questioned by The world.
“We have no concerns about our ability to finance new activities, the availability of the fund is very abundant. » In other words, the new credits would not strip social housing.
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However, the president of the Social Union for Housing (which represents social landlords), Emmanuelle Cosse, urges caution: “I would not express any concerns about the level of the resource. But EDF would have to accept the conditions of the savings fund loans; rules different from ours would not be acceptable. However, it is said that she would like lower and fixed rates. »
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