Booklet: Multiple crises and rise in rate, duo winning in 2022

The outstanding Booklet A inflated by 32 billion euros in 2022, carried by the war in Ukraine and the concerns linked to inflation, but also by a remuneration multiplied by four over the year.

by Aurélie Blondel

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exceptional, 2020, year of the emergence of the health crisis, had been in many respects … and in particular for the booklet A, which had seen its outstanding growing 27.97 billion euros . A figure at the height of the shock suffered by households, which the uncertainties had pushed to save, and whose consumption habits had been strongly disturbed by successive confinements, closings of establishments, limitations of travel, etc.

Surprise: In 2022, this tax -free savings book did even better than in 2020, with an upward outstanding this time of 32.06 billion, according to figures published on January 23 by the Caisse des Dépôts.

In detail, this result is due to a strong net collection (deposits, less withdrawals), of 27.23 billion, as well as 4.83 billion gains made on this booklet by savers. You have to go back to 2012 to find a better year for the booklet A (+ 33.16 billion in total) – this year had been marked by an increase in the ceiling of payments.

3 % on 1 ER February 2023

In total, at the end of 2022, 375.4 billion were placed on this product, and 509.7 billion if we add the sums placed on the sustainable and solidarity development book (LDDS), which works, in large lines, like booklet A (same rate of remuneration, same exemption from income tax and social security contributions).

This extraordinary new year is explained by several factors. First of all: the increase in the rate of remuneration for these two booklets. After stagnating at 0.5 % for two years, it was noted to 1 % in February 2022 and then to 2 % in August 2022. This “rate effect” should play again at the start of 2023, the government having announced Mid-January a new increase, at 3 %, applicable on 1 er February. Its highest level since 2009.

“Any recovery of the rate of the booklet has dope the collection the month of the announcement and the two or three months following”, underlines Philippe Crevel, founder of the circle of savings. And this, even if “the two accounts of the Livret A rate did not allow to compensate for the effects of inflation”. In the end, over the year, Livret A and the LDDS will have been paid an average of 1.38 % while INSEE assesses the increase in consumer prices at 5.2 % on average annual for 2022. The rate real remuneration (deduced inflation) is therefore largely negative.

Another factor promoting collection: the geopolitical and economic context, very eventful all year round, with; In particular, the triggering of the war in Ukraine, the concerns linked to the energy supply and the inflationary thrust. A context to say the least “anxiety”, notes Mr. Crevel.

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/Media reports cited above.