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Livret A Sees Sharp September Outflow as Rate Cuts Bite

Falling regulated rates are pushing French savers to alternative products.

Les Français placent beaucoup moins d'argent sur le Livret A en raison d'un taux de rémunération de moins en moins intéressant.
Le livret A ne séduit plus avec la chute du taux de rémunération.
Les épargnants ont retiré près de 2 milliards d'euros de plus qu'ils n'en ont déposé sur leurs Livrets A en septembre

Overview

  • France’s Caisse des dépôts reports a €1.95 billion net outflow from Livret A in September as withdrawals outpaced deposits following the August rate cut to 1.7%.
  • LDDS also posted net withdrawals of €760 million, bringing combined Livret A and LDDS balances down to €606.8 billion from €609.5 billion in August.
  • The CDC notes this is the steepest pullback in deposits since the 2019 shift to income tax withholding altered savings seasonality.
  • Euro-denominated life-insurance funds have attracted money this year with an average 2.6% yield before taxes, according to ACPR data.
  • Policymakers are advancing new retail options to channel household savings, including a proposed Bpifrance defence fund targeting around 5% returns, as expectations point to another Livret A rate cut to roughly 1.5% in February 2026.