A French on two wants to continue to save as much, but wishes to place his savings elsewhere than on a Livret A, now paying 0.75% per year, a record low.
A booklet out of favor. The continuing decline of its compensation rate from 1% to 0.75% on Saturday – a record low – encourages investors to put their money elsewhere. A poll published Sunday in western France, a French on two wishes in the future save as much but can not count future savings deposit its libretto A. Almost 40% of respondents said however not plan to change their savings habits, despite the weak performance of the preferred placement of French.
Last June, the French, covered up by almost 93% in Livret A, had filed a total of 260 billion euros over the regulated savings investment in low-risk but low-yield. This is slightly less than the previous month. In fact, it’s been over a year that investors gradually withdrawing their savings from the offering become unremunerative because of low inflation. End of 2013, total outstanding placed on Livret A indeed exceeded 266 billion euros, or nearly $ 6 billion more than today. A tendency to erosion which contrasts with the rush to the Livret A found in 2012 and in early 2013 year, following the increase of maximum of this placement, 15,300 euros to 22,950 euros – a campaign promise of the candidate Holland .
If the French abandon the Livret A, they do not thereby become bold when it comes to place their savings. The latest report of the Bank of France dedicated to regulated savings underlines that in 2014, the French abandoned the passbook and sustainable development passbook (LDD), whose remuneration following the Livret A, the benefit .. . Housing savings plans (PEL) and life insurance. “In 2014, households have directed their investments to less risky savings products but more profitable,” says the report.
Paid until February 2.5% against 1% for the Livret A, the ELP as such constituted a particularly attractive investment. Last year, the outstanding PEL has increased by over 9% to 216 billion euros, while that of life insurance, paid an average of 2.5% for euro fund capital guaranteed in 2014, his side progressed by 3.4%, to 43 billion euros. In the first six months of 2015, life insurance has collected another € 12.3 billion, against EUR 10.6 billion last year. With a booklet A remuneration last Saturday under 1%, this trend is expected to accelerate. Yet reminds the Bank of France, the passbook is still paid more than it should be if the government had scrupulously followed the formula provided for this purpose. She planned this Saturday from a 0.5% yield.
The prudence of French households is not without consequence for the French economy, which is struggling to fund this fact is. The creation in 2012 of a PEA SMEs and new life insurance contracts “Euro growth” was intended to encourage the French to take more risks and more direct their savings towards the financing of companies. But success, for now, is not yet at the rendezvous.
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