On 1 August, the rate of the Livret A fell to the lowest level since the creation in 1818 of the preferred placement of French: 1%. But at the same time, the remuneration of banks that collect money on the famous red book, she did not move. At this rate, if inflation continues to weaken, your banker may even receive more money from the state that the interest paid to you. Explanations.
the customer side, the rate of return on passbook is indeed modeled on inflation, to which is added a quarter point. The whole is rounded to the nearest quarter of (lower or higher) item. With this method of “automatic” calculation, the rate of A booklet should have gone to 0.5% in August. The government preferred to use its discretion to limit the decline and reduce the rate of 1.25 to 1%.
But bankers’ pay, consideration for the collection of funds, is not linked to the inflation rate or the Booklet A. Schools that collect the savings on behalf of the State paid a commission whose level depends on the assets managed under this regulated savings. Since the decree of 30 July 2013, the Commission represents roughly 0.4% of the funds collected (the calculations are actually a little more complex than that). The only exception is the Post Office, which also receives a small bonus to offset its public service missions in the field. Indeed, La Banque Postale must accept anyone who wants to open an account without charging them fees. She received 246 million euros in 2013 and must collect 242 million this year, according to a decree governing the measurement.
About € 1 billion per year
Specifically, for customers of other banks, this means that for 100 euros set your Booklet A, you will earn 1 euro interest and your bank 40 cents. Knowing that outstanding on the Booklet A were in June of € 268.5 billion, the banks should receive this year a little more than 1 billion euros from the Caisse des Depots et Consignations (excluding bonuses for the post). Note that it would be necessary to subtract the cost of bank management to be complete. The CDC, the financial arm of the State, centralized indeed much of this money (about 60-65% of the amount) and then lend and fund social housing.
The banks have the right to remain in their crates approximately 35-40% of the funds, or about 100 billion euros. What improve cash available for French institutions. This money also helps fund projects, for example through loans to SMEs. The interest rate charged by the bank (say 3-4%) is then higher than the Livret A (1%). The difference is in the pocket of the bankers. Finally, A Booklet helps attract customers to offer them other products in which the bank is more room.
This is also a major interest for the bank . For compensation of the CDC remains relatively modest compared to what wins the financial world also. Just in the last quarter, BNP Paribas posted net income excluding special items (such as fines in the United States) of EUR 1.92 billion. More than affect all banks in the country per year for Booklet A
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