The French savings rate fell slightly in late 2013 , according to the barometer of household savings released this morning by the Banque de France . Estimates of the institution on the 1st quarter of 2014 show an improvement but it primarily benefits the life insurance euros or PEL . Collection passbooks and CEL is almost zero in the first three months of the year .
Radius investments, the product of the moment is life insurance as confirmed by statistics on household savings (1) in the fourth quarter 2013 and first quarter of 2014 published by the Bank of France this morning. Statistics come early 2014 and late 2013 initiated confirm movement : a sharp decline in flows to savings accounts (including Booklet A and LDD ) and Housing Savings Account ( CEL ) for a collection of life insurance generally stable despite the inevitable yo-yo effect .
1st quarter 2014 ( 2 ), the Bank of France reported a net inflow of € 13.2 billion to life insurance carriers euros, by far the largest collection all investments combined. For comparison , in 2012 , the year of raising the ceiling of Booklet A, passbooks and CEL have drained collection ( 46400000000 ) twice that of life insurance in euros (23, 9 ) . A trend that was clearly reversed in 2013 , the same flow being negative for books on the second half of 2013 according to the Bank of France . The year 2014 registered for time in continuity since 2013 the Bank of France estimated collection booklets and CEL only 0.4 billion over three months.
PEL and current accounts increased
The Q1 figures also show a strong resurgence of interest in what the Bank of France categorizes as ” contractual savings ” which brings savings plan (PEL ) and popular savings plan ( PEP) ( 3). The collection is estimated 3.9 billion in 2014, against 2.9 in the fourth quarter of 2013 or 2.7 to 3 .
More surprisingly, after the life insurance, the most important in the first quarter of 2014 flows were recorded for deposits, that is to say mainly current accounts. Flows are positive with inflows of € 6.1 billion, a sharp increase over the last three months of 2013 ( 1.7 billion).
French savings rate fell slightly in late 2013
In terms of stocks , in the last quarter of 2013 , life insurance euro remains fairly far the preferred placement of French ( 1294000000 ) to booklets and CEL (616 billion) and ” unquoted shares and other equity “( 610000000000 ) .
More generally, the Bank of France confirms a decline in savings French end of 2013, but was not himself a fall. Thus, the household savings rate has fallen by 0.5 percentage points in the last three months of 2013 , to 15.2% , against 15.7 % in the previous quarter. The French average is also significantly above the rate in the UK (about 5% ), Spain ( 10%) and in Italy , dating back to 13%. In major European countries , the Germans are the most efficient , with a stable average of 16 %. Savings rates Q1 2014 have not yet been disclosed.
(1) The Bank of France means households particular and individual entrepreneurs. It also takes into account these statistics non-profit institutions serving households .
(2) The figures given for 2014 are provisional.
(3 ) Reading statistics Banque de France in January and February on the ELP and the PEP shows that the outstanding PEL is up for several months and that PEP has increased from November to December 2013, down slightly in January and February. This increase in contractual savings in the first quarter of 2014 is probably primarily due to the ELP , which also has an outstanding almost 9 times that of PEP .