#SAVINGS & FINANCIAL PRODUCTS
“The French love putting money into the Livret A.” In September 2026, it was the opposite: they withdrew €1.52 billion more than they deposited, despite a rate raised to 1.7%.
Published on October 22, 2026 · to be rechecked on December 31, 2026
In September 2026, the Livret A recorded a negative net inflow of €1.52 billion: the French withdrew more than they deposited, according to Caisse des dépôts data published on 22 October. It is the 7th month of outflows since January, despite a rate raised to 1.7%. The LDDS lost about €700 million, i.e. €2.22 billion for the two products combined; their total outstanding reaches €606.7 billion, stable over a year. The LEP (popular savings account) fell more sharply, its outstanding down €3.03 billion, notably due to annual account closures (customers exceeding the income ceiling).
Is a Livret A “outflow” money that’s lost?
No: an “outflow” simply means withdrawals exceed deposits over the month. The money is neither lost nor frozen — it leaves the Livret A (toward spending, another investment or a current account). The capital stays guaranteed and available.
In other words: an outflow is money leaving the Livret A, not money vanishing.
Four caveats that belong with the number
- Outflow ≠ abandonment: the Livret A + LDDS outstanding remains huge (€606.7bn) and stable over a year.
- The 1.7% rate can be below inflation: the REAL return (rate − inflation) matters more than the headline rate, and partly explains the withdrawals.
- The LEP’s sharp drop (−€3.03bn) is mainly due to annual account closures (income-ceiling breaches), not just waning interest.
- Figures from the Caisse des dépôts published on 22 October 2026; monthly data, subject to revision.
Why it still matters: for savers: look at the real return (rate − inflation), not just the headline rate; and remember the Livret A stays guaranteed, available and tax-free — useful as precautionary savings, less as a yield investment.
For you
- Do you know the REAL return of your Livret A once inflation is deducted?
- Are your precautionary savings and your yield savings on the same products?
Sources: Caisse des dépôts data published on 22 October 2026, relayed by Économie Matin, FranceTransactions and Echos Plus (22 October 2026).
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