2023-11-21 13:59:39
By Le Figaro with AFP
Published 40 minutes ago, Updated 31 minutes ago
Livret A books and Sustainable and Solidarity Development Booklets (LDDS) saw a record drop in their outstanding amounts. fizkes / stock.adobe.com
Popular savings accounts (LEP) reach an unprecedented amount of 63.8 billion euros.
Popular Savings Booklets (LEP) swelled by 4.77 billion euros in October to reach an outstanding amount of 63.8 billion euros, two records according to data published Tuesday by the Caisse des Dépôts, thanks to raising the ceiling from 7,700 to 10,000 euros. Livrets A and Livrets de développement durable et solidaire (LDDS) have at the same time experienced a record drop in their outstanding amounts, of the same order (4.44 billion euros), penalized by competition from LEP and a month of October generally not very promising in terms of savings.
This historic success coincides with the raising of the ceiling on October 1, from 7,700 euros to 10,000 euros, announced in mid-July by the Minister of the Economy Bruno Le Maire. In 2022, almost half of LEPs (47%) had reached or exceeded their ceiling, according to the Banque de France. Savers able to do so have every reason to switch their savings in favor of the LEP: it offers a remuneration rate of 6% net, without taxes or social security contributions. The amounts deposited are also guaranteed by the State and the investment is completely liquid, meaning that each holder can withdraw all or part of their funds at any time.
Livrets A and Livrets de développement durable et solidaire (LDDS) have at the same time experienced a record drop in their outstanding amounts in October, of the same order (4.44 billion euros). These two savings accounts offer a less attractive rate (3%) than the LEP and, although they remain competitive with life insurance, they also face competition from banking products such as term accounts.
Also read: Super savings account, term accounts, enhanced euro funds… What are the new competitors of Livret A really worth?
The month of October is also a less buoyant month in terms of savings, particularly for owners who pay property tax, up 9.3% in one year in the 200 largest cities in France, according to the National Union of Real Estate Owners (UNPI). The year 2023 remains no less historic for all regulated savings products. Since January, the outstanding amount of the Livret A and the LDDS has increased by almost 37 billion euros and that of the LEP by almost 16 billion euros.
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