2023-04-21 13:58:52
Livret A savings accounts expanded by nearly 20 billion euros in the first three months of the year, the Caisse des dépôts (CDC) said on Friday, a first since 2009, encouraged by the increase in the rate to 3% in February 1st.
Last year, it took seven months to exceed this level of net receipts.
The favorite investment of the French benefited from a historic month of March, with deposits exceeding withdrawals by 4.17 billion euros.
The cumulative outstandings of the Livret A, which has some 55 million holders, and its cousin the Livret de développement durable et solidaire (LDDS), have been evolving for several months at record levels.
They weighed on March 31 the sum never seen of 535.1 billion euros.
These two products have benefited since last year from favorable arbitrage by savers, who see in them the best guaranteed return possible for their savings.
The rate of pay has, in fact, increased to 3% net since February 1. If it remains below inflation, it significantly exceeds the yields of euro life insurance funds, estimated on average at 2% by the ACPR, excluding tax.
The money deposited in Livret A and LDDS booklets, capped at 22,950 euros and 12,000 euros respectively excluding capitalized interest, is guaranteed by the State, exempt from taxes and social security contributions.
Managed jointly by the CDC and the banking networks, the Livret A is mainly used to finance social housing, while the LDDS is dedicated to the social and solidarity economy as well as to energy savings in housing.
Livrets A and LDDS had already swelled by 40 billion euros in outstandings last year, driven by large deposits and interest paid at the end of the year.
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