Finished Booklet A? Are French savers ready to turn the page? We must believe so: this investment is losing money!
The golden age of the Livret Soon over?
According to the Deposit Fund (CDC), « the French withdrew 1.94 billion euros more than they deposited in their Livrets A » over the past month.
The LDDS is also affected by this disaffection. As reported in the columns of the Tribune, “ the Sustainable and Solidarity Development Booklet was deflated by 640 million euros.”
Compared to last September, deposits on Livret A exceeded withdrawals by 210 million euros, unlike LDDS where entries and exits were balanced.
October, the most “decollector” month for the Livret A and the LDDS
October 2024 enters the top 5 of the most « decollectors » for Livrets A and LDDS, according to the CDC.
For the month of October, this drop is rather classic, a period of payment of local taxes (property tax) and regularization of income tax.
« Since 2009, (…) the collection has only been positive in October in 2012 (+7.35 billion euros). This exceptional and atypical collection was explained by the increase, on October 1, of the Livret A ceiling from 15,300 to 19,125 euros. recalls Philippe Crevel.
The outstanding balance of these two regulated savings accounts “ fell by 2.58 billion euros last month to 581.8 billion euros.
“The “rate” effect no longer plays a role”
« Since the start of 2024, Livret A and LDDS collections have normalized, marking the end of a prosperous period linked to a succession of shocks (Covid-19, war in Ukraine, inflation, increase in the rate of remuneration ) », observes economist Philippe Crevel.
For next year, the collection is not guaranteed, because “the “rate” effect no longer plays a role, with households even anticipating the drop planned for next February », Analyzes the director of the Cercle de l’Épargne.
A rate cut in 2025
A next revision of Livret A rate will be done at the beginning of February 2025. Remember that this had been blocked at 3% net over 18 months, as decided by the former Minister of the Economy Bruno Le Maire.
The next expected rate would be “around 2.5% », According to Eric Lombard's statements at the end of October. “ The final timing will depend on the decision of the Minister (of the Economy, Editor's note) on the proposal of the Governor of the Bank of France.
In practice, it is François Villeroy de Galhau who will be responsible for making the proposal to the new tenant of Bercy, Antoine Armand. But for this, we must wait for the final inflation figures for December.
