Brochure A no longer has good press. According to data published this Tuesday, October 21, by the Caisse des Dépôts (CDC), savers withdrew almost 2 billion euros more in September than they deposited in this investment.
This decrease in deposits compared to withdrawals or “withdrawals” is a consequence of a significant drop in the rate of the Livret A and the Livret de développement durable et solidaire (LDDS), which was still at 3% at the beginning of 2025, and was reduced to 2.4% on February 1 and then to 1.7% on August 1.
Biggest drop since tax withholding
For the CDC, this is the first significant drop in deposits since the application of withholdings at source in 2019, which changed the seasonality of savers’ deposits.
This situation of “net withdrawal” had already occurred in July, but not in the same proportions, since the French had withdrawn 70 million euros more than they had deposited in their savings accounts. In September, savers this time withdrew 1,950 million euros more than what they deposited in their Livret A accounts. The LDDS, with similar characteristics to the Livret A account, recorded withdrawals 760 million euros higher than deposits.
Life insurance is complete.
On the contrary, the historical competitor, life insurance funds in euros, has been supplying itself since January by offering an average rate of 2.6%, according to data published by the profession’s watchdog, the ACPR, backed by the Banque de France. However, this rate is not net of taxes, unlike the Livret A rate.
At the end of September, the French had accumulated 606.8 billion euros in their Livret A and LDDS accounts, compared to 609.5 billion a month earlier, far from the total of life insurance, beyond 2 billion euros.
The outstanding balance of the Popular Savings Books (LEP), reserved for low-income households, increased by 110 million euros, reaching an outstanding balance of 80.7 billion. The number of LEPs had surpassed 12 million, but the significant number of closures in the spring (for holders over the resource limit) caused it to fall to 11.8 million by the end of July. The spring closures also have consequences on the pending LEP, which has dropped by 1.5 billion euros since December 31, 2024, because the closed notebooks are not replaced by openings, and even less so by the pending equivalent.
Source: BFM TV
