A promise is a promise. More important, moreover, when it comes from a candidate for the presidency of the republic. FH Loan had promised to double the cap of the famous booklet A during his campaign but some pressure had been exerted and cooled the will of the government to implement this measure.
Even if savers have reached the maximum deposit of € 15,300 on passbook A and € 6,000 on the sustainable development booklet, the measure will have repercussions other than on the construction of social housing.
Indeed, the banks’ economies are likely to suffer changes that could affect their ability to finance. Disturbing at a time when personal and business credit activity is steadily declining.
Financing rules for social housing
The rules that allow the livret A to finance social housing remain poorly known. Each year, a centralized fund representing approximately 70% of the collection of the A and LDD passbooks is sent to the EZ Finance et Consignation for a fee fixed by decree. The latter is then responsible for managing the funds that will be used to finance social housing.
As the sum currently under management at EZ Finance is not used in full, it may be doubted whether the raising of the ceiling is worthwhile.
Raise the ceiling in several steps
Without going back on its decision, the government has decided to temper and proceed to the lifting of ceilings in several stages.
The ceiling of livret A (€ 15,300) is therefore raised by 25% on September 15th and will benefit from a similar rise on December 31st. Those who reached this ceiling will be able to invest an additional € 3,825 to go up to € 19,125 . More surprisingly, the ceiling of the LDD booklet will be doubled to 12 000 €.
A controversial decision
This decision is highly controversial. By the opposition of course, but also by the banks that fear. It must be said that the latter may see the collection of regulated books increase at the expense of other media and in the long term.
However, the amount of long deposits makes it possible to increase their financing capacity. The rating agency Moody’s Investors Service even claiming that the decision of the French government would have a negative impact on the rating it assigns to French banks.
Even if it is still too early to talk about it, it’s a safe bet that the decision will have repercussions, especially on those who hold amounts of deposits on booklets high as the credit unions of BK Credit , the NNK Financial Credit .