The livret A and the LDDS benefit from the rise in rates. They collected, between them, 11.22 billion euros in January.
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The increase in the regulated savings rate attracted the French, who massively added to their savings accounts. According to data from the Caisse des dépôts, shared on Tuesday, the net collection of the livret A reached, in January, 9.27 billion euros. A level not seen since 2009 for the first month of the year, nearly fifteen years. By way of comparison, the collections of 2021 and 2022, over the same month, rather reached 6.3 billion euros.
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Same observation for the booklet of sustainable and united development, which collected, in January, 1.95 billion euros, still according to the Caisse des dépôts. Again, these deposits – unheard of for more than ten years – exceed the levels observed in recent years, including during the Covid-19 epidemic, when consumption was nevertheless restricted.
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If the French usually tend to put aside in January, this year, the harvest benefits more particularly from the rise in interest rates decided by the executive, in agreement with the Banque de France, while inflation nibbles the savings of the French. In mid-January, the Minister of Economy and Finance, Bruno Le Maire, announced an increase in the rate of pay from 2% to 3%, Starting from February. An announcement which, obviously, has prompted households to set aside these booklets.
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In total, the outstanding amount of these two products reached 520.9 billion euros at the end of January. A level, again, record. “The January 2023 rebound stands out for its strength. Households have undoubtedly decided to take full advantage of the 3% increase in remuneration by reducing their unremunerated liquid assets in their current accounts», Analyzes the director of the Circle of savings, Philippe Crevel, in a press release. For the expert,the fear of a future deterioration in the economic situation explains this attitude» prudent, on the part of households who prefer to save rather than consume. A trend that should continue in February and March, he believes.
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For some time, consumers seem to have dipped into their current accounts to pour money into these savings accounts: on Tuesday, the Banque de France explained in a press release that it had noted that sight deposits had melted by 16.3 billion euros. euros over the last three months of the year, even though regulated savings jumped by 12.8 billion euros over the period.
According to INSEE, the savings rate should also remain, in 2023, above its pre-Covid level. Cautious, the French seem to favor savings, despite its rate which remains lower than inflation. “The protection is not total, the real yield of the Livret A being negative by at least three points. You have to go back to the 1980s to see such a significant negative real return,” notes Philippe Crevel.
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