The French Ministry of Economics and Finance’s Directorate General of the Treasury has published a Treasury‑Eco study on French household saving behaviour and how it ultimately supports the financing of companies, households and public administrations. The note estimates household financial wealth at EUR 6,596bn in the first half of 2025, around 40% of total household wealth, and argues that even when households favour safe and liquid products, the funds are channelled back into the economy via financial intermediaries. Since the Covid crisis, households have maintained a high level of financial saving, with a financial saving rate of 10.5% of gross disposable income in Q2 2025, exceeding German households for the first time since 2000. The study describes an aggregate allocation split into roughly one third bank deposits (EUR 2,127bn, including current accounts, regulated savings accounts such as Livret A, LDDS and LEP, sight deposits and term accounts), one third insurance products (EUR 2,245bn, notably life insurance “euro funds”), and one third holdings in companies (EUR 2,167bn via listed and unlisted shares and other participations). It also maps a “final allocation” of household financial wealth in which, out of each EUR 10, EUR 4 finances corporate equity (split between EUR 2 invested by savers in listed shares and EUR 2 invested by entrepreneurs in their own businesses), EUR 3 goes to bonds issued by public administrations and companies (mainly French), EUR 2 supports lending to households and businesses, and EUR 1 remains as liquidity held by intermediaries. The note adds that the overall structure of household financial wealth has changed little since the pandemic, although the share invested in companies has tended to rise due to higher company valuations, and it links these funding channels to longer-term corporate investment needs, including the ecological transition and new technologies.

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