The monthly collection of French Livret A reached a 10-year high in March, according to data published by the Caisse des dépôts.
The French deposited a little less than €2bn in their savings accounts. The last time such a monthly level was seen was in March 2009, in the year when Livret A distribution spread to banks.
The Livret A is guaranteed by the French state with easy access to deposits. Savings have been remunerated at 0.75%, net of tax and social security contributions, since 1 August 2015. While rules set on 1 January 2013 mean that additional deposits cannot be made once the Livret A account has reached €22,950, the French government decided in November 2017 to freeze the interest rate paid at 0.75% net until 31 January 2020.