The rate of the Livret A passes Sunday from 1.25% to 1.75%
The rate of the Livret A, the product of savings the most widespread in France, went on Sunday from 1.25% to 1.75% to reflect the acceleration of inflation.
There were some 60 million books A and blue books in France in late 2009, according to figures released Wednesday by the Bank of France.
Individuals then held 59.3 million of outstanding books for 175.5 billion euros and 0.6 million corporate booklets for an outstanding $ 7.9 billion.
The higher rate of pay A booklet was announced July 13 after the publication of figures showing inflation in June rose 1.5% in consumer prices over the year.
The Bank of France is responsible for conducting, on January 15 and July 15 of each year, the calculation of rates of pay passbooks regulated according to formulas that take into account the rates on money market and the increase of consumer prices.
The distribution of the Livret A was extended on 1 January 2009 to all banking networks.
The distribution of the money invested in this product is very concentrated, 42% of assets being deposited on only 7% of books in late 2009, according to the report released Wednesday. Next, 30 million savings books were credited with less than 150 euros.