The Bank of France published its 2024 annual report on regulated savings, covering products including Livret A, the Sustainable and Solidarity Development Booklet (LDDS) and the Popular Savings Booklet (LEP). It finds these products remained widely used by households as inflation slowed and administered remuneration rates moved back toward normal levels. Net flows into regulated savings totalled EUR 20.1bn in 2024, ranking third behind life insurance and term accounts, with outstandings reaching EUR 956bn at end-2024. Livret A alone accounted for EUR 432bn of outstandings and EUR 15bn of net inflows, while LEP outstandings exceeded EUR 82bn with EUR 5.6bn of net inflows; more than 1 million LEP accounts were opened in 2024, bringing the total to nearly 12 million, and the report calls for continued efforts by banks and public authorities to increase take-up among eligible households. The Livret A and LDDS rates were held at 3% throughout 2024, then set at 2.4% from 1 February 2025 and will be 1.7% from 1 August 2025; LEP remuneration was set above its formula and well above inflation in 2024 (5% in the first half and 4% in the second half), then set at 3.5% from 1 February 2025 and will be 2.7% from 1 August 2025, alongside an average inflation expectation for 2025 of around 1%. The report also details how collected funds were used: for the portion centralised in the Caisse des Dépôts and Consignations savings fund, EUR 21bn of new loans to social housing and urban policy in 2024 financed 107,804 new social homes and the rehabilitation of 108,923 others. For non-centralised funds kept on banks’ balance sheets, more than EUR 115bn of new credit was granted to SMEs, and loans supporting the energy transition or a lower climate footprint expanded to more than EUR 240bn of outstanding lending for housing meeting RT2012 or RE2020 standards at end-2024. French households’ saving rate is reported at 18% of disposable income, and regulated savings’ share of household financial investments remained stable at 15%.
Bank of France 2025-07-17
Bank of France annual report on regulated savings reports EUR 20.1bn net inflows in 2024 and lower Livret A and LEP rates from August 2025
The Bank of France's 2024 report on regulated savings highlights continued household use of products like Livret A and the Popular Savings Booklet (LEP) amid slowing inflation and adjusted remuneration rates. Net flows into regulated savings reached EUR 20.1bn, with Livret A accounting for EUR 432bn of outstandings. The report also notes EUR 21bn in new loans for social housing and EUR 240bn in loans supporting energy transition, with the household saving rate at 18% of disposable income.