Livret A at 2.6% and LEP at 3.1%
Former Minister of the Economy Bruno Le Maire made a first correction in mid-July by lowering the LEP rate from 5% to 4%, and maintained that of the Livret A at 3%.
According to Moneyvox estimates, if the decline in inflation continues, the “technical” rate of the Livret A, resulting from its calculation formula which takes into account the evolution of inflation excluding tobacco and the €ster (interbank rates) which should be retained for the February 2025 revision, is closer to 2.6%.
The rate of the LEP, the popular savings account which had achieved record collections in recent months, is also expected to fall sharply. Its characteristics guarantee it a bonus of 0.5 points compared to booklet A, but it would fall from 4% to 3.1%… That is to say a big turbulence of 25%.
Not full since August
Already in August, Livrets A and Livrets de développement durable et solidaire (LDDS) have not been full, according to figures published Monday by the Caisse des Dépôts (CDC), in a context of strong competition on the market of savings. Savers deposited 1.99 billion euros more than they withdrew from these two savings vehicles in August (1.5 billion for Livrets A and 490 million for LDDS).
This amount is within the average of the last fifteen years but far from recent performances, at more than 3 billion euros in August 2022 and 2023.
Almost unbeatable last year, the rates of regulated savings accounts have for several quarters suffered from the awakening of competition from other products with guaranteed capital such as euro life insurance funds and term accounts.
The total outstanding amount of the Livret A amounted to 428.5 billion euros on August 31, that of the LDDS to 155.6 billion euros, unprecedented. It has increased by 13.21 billion and 6.1 billion euros respectively since the start of the year.
