Despite the drop in interest rates, and the threats on its performance, the savings account preferred of the French resistance.
Where to put its cash ? For more than three years, put his money in the short term is a puzzle. With the price rise, the Booklet provides no protection for the purchasing power. In August, the index of consumer prices, the Insee climbed 2.3% year on year. Even if it is a peak in the summer, annual inflation should reach 2.1% this year and remain close to 2 per cent next year, according to the forecasts of Natixis.
successive governments have also changed the formula for calculating the rate of the Booklet Has, for it not protects more than inflation, to the great satisfaction of the lobbies of banking for which the booklets regulated are a heresy, constituting an obstacle to the sale of investments to higher margins for their developers.
Finished the preservation of purchasing power
From 2004 to 2016, the rate of the Livret A could not be lower than inflation, according to its calculation formula official. In November 2016, the minister of the economy has retracted skillfully boost the rate of the Booklet Has, promising "that the fixed rate will always be higher than inflation". A year later, in December 2017, the government announced the freeze in the rate of the Booklet Has at 0.75% until February 2020, by changing its formula to get rid of any preservation of purchasing power. It holds only a "rate floor," which could not be less than 0.5%, as a scarecrow.Your support is essential. Subscribe for $ 1 support Us
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Despite the promises violated, investors continue to support the Booklet A. "After heavily sanctioned the successive falls of his compensation (with -6,13 billion euros in 2014 and -9,29 billion euros for the year 2015), the French have obviously found reasons to place part of their savings in the Booklet," observes Sarah Le Gouez, general secretary of the Circle of savings. In the first eight months of 2018, the French have again contributed more than 11 billion euros on their Books Has, bringing their outstanding amount to more than 283 billion euros.
82% of the French have a booklet A
Finally, financial repression does not discourage people's savings, on the contrary ! "The very good collection of the Booklet Has since the beginning of the year, is not affected by the price increase," said Philippe Crevel, director of Circle of savings. According to him, the French would save even more to compensate for the difference between the higher expected price and lower remuneration on their savings.
More than 82% of the French have a Booklet, with an outstanding average of 4 754 euros. But 60% of the booklets have a balance of less than eur 1,500, while 5% of the holders have booklets in excess of the ceiling, pointed to 22 950 euros for 2013, thanks to the capitalization of interest.
For people wishing to keep savings readily available, choice is limited, as the european central Bank (ECB) keeps rates under the water. As of July 2012, the ECB reduced the rate at which it remunerates deposits of the banks at 0%. And then, from June 2014, it will apply negative interest rates : - 0.1% to 0.2% for first, and then 0.3% in December 2015, and 0.4% from march 2016.
interest rates are ridiculously low
in turn, the interest rates have come crashing down on the money market between banks. The interbank rate of Euribor at one month, which was above 5% at the height of the crisis in the fall of 2008, went timidly to the below zero in early 2015, to set up between 0.3% and 0.4% from march 2016. In this context, the sicav monetary lost an average of almost 0.5% year on year, according to the analysis company Quantalys.
Read our complete fileThe booklet of savings populaire, a credible alternative to the booklet? "The booklet Has could quickly become profitable" is it still Necessary to lower the rate of Booklet A?
And the bank books relating to 10 to 20 times less than the Livret A. The account passbook of BNP Paribas is at 0.1% gross, while the Booklet for the orange ING Direct, which had made its reputation in stroke rate spiked, does more than 0.05% before tax, or 35 cents of net interest per year for 1 000 euros placed, compared to 7.5 euros per year for 1000 euros stored on a Booklet or a Booklet of sustainable development and solidarity (LDDS, ex-Codevi), related also to 0.75% within the limit of eur 12 000. It is easier to understand their success.