The French have shunned the Livret A in 2010 - January 22, 2011
The French have abandoned their preferred placement in 2010. Collection recorded last year by the Caisse des Depots et Consignations (CDC), representing a significant decrease from 2009, to 7.9 billion euros filed against 16.5 billion the previous year. A significant decline, mainly due to two factors.
The first is the record amount collected in 2009 due to the introduction of competition in the distribution of savings product. With a rate of 4% while the French had rushed on that investment safe, even opening some illegally – several books in different banks. The closure of some of these accounts had already contributed to the end of 2009, a drop of amounts collected.Evidence that 2009 was exceptional, the funds collected in 2008 were actually much lower than in 2009, to 10.6 billion euros.
The second factor is the weakness of the remuneration of the booklet A during the last year. She fell in the first months of 2010 to a record low 1.25% – below inflation. Clearly, holding a booklet giving rise to a negative return. If the acceleration of inflation induced a revaluation rate of return on investment on 1 August 2008 to 1.75%, this incentive has not been sufficient to compensate for the meager deposits of the first month of the year. In December, the deposits were again higher than withdrawals, from 1.33 billion euros. A booklet but nevertheless continues to suffer from competition from other investments, such as life insurance, paid in 2010 around 4%.