This is a dramatic decline : the number of Booklets Is held by individuals has fallen from 5.3 million last year in France. At the end of 2016, there was $ 55.8 million of these booklets held by natural persons, according to the annual report of the Observatory for regulated savings, published on Wednesday by the Bank of France. The cause is not the low pay (0,75%) of the savings book the most popular, even if the number of openings is slightly lower (2.4 million new books) : this is due to an acceleration of the fences due to the entry into force on 1 January 2016 of the act Eckert, who has strengthened the obligations of banks with respect to dormant accounts.
“The first year of application of the law known as the “Eckert” […] explains, in fact, nearly 90 % of the decrease in accounts recorded year-on-year,” says the observatory.
Decline in the share of the Postal and savings banks
Over four years, the decline in the number of Booklets Is held by individuals is 15.2%. The rate of detention has decreased in a year from 91.7% to 83.4%.
In addition to the fences of booklets inactive, this decrease is explained by “the establishment of the procedure of combating the multidétention since January 1, 2013,” highlights the observatory. Any adult or minor can have one Booklet but it is in fact forbidden to have more than one booklet per person.
The decrease is networks “historical,” namely, the Post office and the savings banks, which had the monopoly until January 1, 2009 (and the Crédit mutuel for the booklet “blue”), “under the effect of the clearance of the booklets inactive” (negative net balance of 5.6 million accounts) submits the annual report of the observatory.
The same trend in terms of collection, which is slightly lower than in the traditional networks, but positive in the “new networks” (+€4.4 billion). The market share of the Postal and savings banks in the outstanding amount decreases gradually, to 64.6% at the end of 2016 against 67.8 per cent three years ago, for the benefit of the other banks.
Outstanding average slightly higher
The total stock of Books Is held by individuals is slightly decreasing, 244,1 billion euros – 400 million), on a total of 259,4 billion (including legal persons such as associations, unions of co-owners and agencies in the HLM), a slight increase (+3.6 billion).
The average level of the stock of a Booklet that Was owned by a private individual was increased to 4.375 euros, compared with 4.003 euros in 2015. Less than 10% of the booklets have a balance close to the legal ceiling of 22.950 euros, but they weigh 45% of the total, while small accounts (less than 150 euros) account for 41% of the booklets (and 0.3% of aum).
If the French are very attached to this savings account, the Booklet represents only 5.2% of all of the financial wealth of the household residents, which is estimated to 4.764 billion euros, dominated by the life insurance and equity investments.