The number of Popular Savings Books (LEP) currently amounts to 11.5 million in France, the governor of the Bank of France indicated this Wednesday, a figure that remains far below the number of eligible people.
“We have just surpassed the milestone of 11.5 million LEP, two million more than a year ago,” François Villeroy de Galhau explained to RTL. “There are still millions of French people who would be entitled to this LEP, so they should not hesitate to consult their bank,” he added.
The name of these livrets, rémunérés à 5% réservés aux ménages modestes, is in constant increase: il est passé de 9.5 millions en mars 2023 à pres de 11.5 millions le mois dernier, selon des données provisoires de la Banque de France. Outstanding balances reached 76 billion euros, compared to 55 billion the previous year.
A profitability higher than inflation
The LEP has experienced a boost since October thanks to an increase in the maximum limit, from 7,700 to 10,000 euros. Its rate fell from 6% to 5% on February 1, but the yield is still higher than inflation and other savings products such as Livret A.
According to the General Directorate of Public Finances (DGFiP), at least 19 million French people have the right to benefit from the LEP. The opening up of the LEP by many eligible savers in France is a key issue for Bruno Le Maire and François Villeroy de Galhau, who have increased the number of speeches in the last two years to ensure its promotion.
Source: BFM TV
