Before the winter, declared difficult, and during the period of a slight lull in inflation, the French rushed to their favorite mattress pad. “Last month, Livret A made 4.5 billion euros, recording the best August in its history, helped by an increase in its rate from 1% to 2%, according to data released on Wednesday by Caisse deposits. For comparison, in August 2021, net inflow (the difference between deposits and withdrawals) amounted to 1.67 billion euros. Last month was marked by an increase in its interest rate from 1% to 2%. At the beginning of the year, it was still 0.5%. This August record comes after July, which saw an unprecedented net inflow of €2.64 billion this month,” 20 Minutes reports.
2022 is close to the record of 2020, which was set in response to the restrictions: “Since the beginning of the year, the outstanding amount of Livret A has increased by 23.6 billion euros, that is, almost 24.5 billion euros registered between January and August 2020. when the onset of the pandemic increased French interest in this brochure. The Sustainability and Solidarity Booklet (LDDS), for its part, recorded a net collection of 780 million euros in August. Operated jointly by the Caisse des dépôts (CDC) and banking networks, Livret A is mainly used to finance social housing, while LDDS is dedicated to the social and solidarity economy, as well as energy saving in housing, the free daily newspaper adds.
In total, 497 billion euros are placed on two favorite booklets of the French. And this despite the fact that their profitability remains negative due to inflation.