2023-08-11 15:09:13
Amounts dormant in cash fell by 18.5 billion euros in the first quarter of 2023, while regulated savings accounts are increasingly attractive.
French households again dipped into their current accounts in the first quarter, according to a quarterly barometer from the Banque de France published on Friday, while at the same time the Livret A was full.
The amounts dormant in cash, i.e. the outstanding amount of banknotes and coins, and on sight accounts fell by 18.5 billion euros between January and March, after an already substantial decline. of 14.1 billion euros in the previous three months. Nevertheless, there remains 782.4 billion euros in this form as of March 31, 2023.
Booklet A more attractive
This decrease is to be compared to the filling of the Livret A and the Livret de développement durable et solidaire, which attracted 25.4 billion euros in the first quarter, and still some 9 billion more since, according to data shared each month by the Deposit fund.
It must be said that at 3% net since February 1, these two regulated savings products are much more attractive than the remuneration of demand deposits offered by banks, by 0.04% on average in June for individuals. Banking institutions have nevertheless made a small effort for companies, whose sight deposits are remunerated twelve times more, at 0.48% on average.
Euro funds deflate
Another financial product is also the cost of this fierce competition from the Livret A: the euro funds of life insurance. The latter have experienced a negative net collection (ie benefits greater than contributions) for several years which is accelerating: they deflated by 15.5 billion euros in the first half, according to figures from the professional federation France Assureurs.
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