It is a popularity that cannot be denied. If the collection in June on the livret A is the smallest recorded since the outbreak of the coronavirus health crisis, it remains at a record level of 2.96 billion euros for the month, according to figures released Tuesday by the Caisse des Dépôts. By way of comparison, last year at the same period the collection of the livret A amounted to 510 million euros. "There are two main reasons for this," analysis at the microphone of Europe 1 the director of the Circle of savings, Philippe Crevel.
Investments for fear of the future
"First, there were still restrictions" on consumption in June, recalls the specialist. "The cafes and restaurants weren't fully open yet, and the French hadn't necessarily incurred the expenses for the holidays yet. They were waiting to see how it would turn out."
But this reason hides another: "Fear in the future", he points out. With the looming economic crisis, the "fear of losing your job" resurfaces: "We say to ourselves that it is better to put money aside."
>> READ ALSO - Livret A: Philippe Crevel considers that there is "a real loss of yield"
Safety and liquidity rather than yield
A process which has already been going on since March, and which therefore continues, even though the livret A only yields 0.5%, a historically low rate.
But for Philippe Crevel, this means above all that "the French do not look at the rate of return" but favor "liquidity and security". "We simply say to ourselves that with the Livret A, there is no capital tax and that we can withdraw the money set aside at any time. And that is worth much more than this rate. yield 0.5%. "