how banks manage the French cash flow

DECRYPTION – In 2020, the classic current account has established itself as the preferred savings product of the French. A delicate situation for the banks faced with the ECB’s low interest rate policy.

576 billion euros lie dormant in the current accounts of the French. In the midst of a pandemic, households have never saved so much cash, and the classic current account has established itself as their favorite savings product. In 2020, household sight deposits increased by 81 billion compared to 2019, according to the latest balance sheet of the Banque de France. «Faced with consumption restrictions and uncertainty, households favored liquid and secure savings», Explains to Figaro the director of the Cercle de l’Épargne Philippe Crevel.

In France, bank accounts now act as “safes», Containing the precautionary cash of households. Outstanding unpaid sight deposits have almost doubled since the 2008 financial crisis. They are no longer considered only as a parenthesis before consumption. Almost 30% of savers see it as “an interesting investment“, According to a survey by the Cercle de l’épargne. The rush for current accounts is one of the consequences of the low remuneration of bank books, on average at 0.12% last year.

This situation penalizes the banks

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