The net inflows of Livret A, the flagship savings product of French households, returned to a normal level in August with 1.7 billion euros, equivalent to that of August 2019, before the pandemic broke out.
To read also The collection of the booklet A started again in July
The month of August is generally favorable for the collection of the Livret A and the observed figure does not therefore appear to show significant over-savings.
By comparison, last year, the French had placed 2.25 billion euros more than they had withdrawn in their Livret A.
In July, net inflows amounted to 1.15 billion. Despite a level of remuneration at the lowest 0.5%, the Livret A, which is used in particular to finance social housing in France, has become a safe haven for savers during the crisis triggered by the Covid-19, seeing his stock leap.
The Sustainable and Solidarity Development Booklet (LDDS), which finances in particular the social and solidarity economy and energy savings in housing, recorded a net inflow of 230 million last month, against 600 million last year and 350 million in August 2019. In total, the net inflows achieved in August by the Livret A and the LDDS together amounted to 1.9 billion, against 2.85 last year at the same period.
The total outstandings on these two savings products reached 472.4 billion, an increase of 6.8% in one year.
Read alsoSince the pandemic, the French have saved 157 billion euros more than usual
This phenomenon of over-saving should, according to a study by the Banque de France published in August, continue for several more months to reach a peak at the end of 2021. All financial investments combined, additional savings linked to Covid, which amounted to 115 billion euros at the end of 2020, should reach 180 billion euros.
