He had already broken records in April with a collection of more than five billion euros. The Livret A still reaped almost four billion euros in savings in May, according to figures released Tuesday by the Caisse des Dépôts.
The net inflows made over the month by this very popular placement, tax-free and accessible at any time, reached 3.98 billion euros precisely, a record amount for this month, after 5.5 billion a month earlier.
The Sustainable and Solidarity Development Booklet (LDDS), which contributes to the financing of the social and solidarity economy, was not outdone either, with net inflows of 1.16 billion euros. In April, it had recorded a historically high collection of nearly two billion euros.
In total, the total net inflows harvested by the Livret A and the LDDS combined amounted in May to more than 5 billion euros. Cumulated over the first five months of the year since January, it has already reached more than 22 billion euros, against 13.7 billion over the same period in 2019.
Forced savings
This very sustained activity brought the total savings outstanding placed on the two products to 433.4 billion euros at the end of May. This upturn is not the result of attractive remuneration: the remuneration rate for Livret A and LDDS was lowered in February from 0.75% to 0.5%, its lowest level in history.
In France, the sanitary measures put in place to combat Covid-19 have led to the closure for several weeks of non-essential businesses, de facto preventing households from consuming. To this forced savings was added another savings, voluntary this one, placed in reserve by certain worried households.
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