The consequences of the reform will be key to retail banking in France. According Sia Council, the "banalisation" could cost to all French banks 1.3 billion euros per year and thus reduce the market by 2%.In a few weeks, the government will have to decide on how to reform of the Livret A. Brussels has just remind him the urgency of extending the distribution of this product regulated savings, including the Postal Bank (LBP) and the Caisses d'Epargne share today exclusivity, to all banks. The EU executive has even given him until the middle of this week to clarify the timing and direction of reform, which will be enshrined in law modernization of the economy expected in the spring.

If the government takes its time is that the consequences are major. Not just for social housing, but also for the organisation of the market for retail banking in France. According to a study carried out by the Council Sia, "trivialization" of the Livret A could indeed cost to all French banks 1.3 billion euros per year, thereby reducing the market for retail banking in France 2%. And this, without even incorporate the costs of marketing and communications related to the commercialization of the Livret A.

This cost will be borne for the most part by the banks currently vending. If their rate of pay is reduced, as the Camdessus report, 1.13% (1.3% for LBP, 1.1% for the Ecureuil) at 0.4% and if the other banks were able to capture 30% of their outstanding, Sia Council evaluates the cost of trivialization for existing distributors to over 1 billion euros.

Commission studied with a magnifying glass

But reform will also be a cost for newly vending banks. "A constant customer portfolio," says Matthew Courtecuisse, the Director General of the Council Sia, a portion of deposits and investment accounts on less attractive booklets will be transformed by customers in Livret A. These centralized outstanding will be replaced by a resource Market expensive. "Immediate loss is estimated at between 150 and 220 million, that the collection be centralized at 70% or 100%.

Depending on the model of Sia Council, a margin of 10 basis points on the level of commissioning lost 100 million euros to banks having the monopoly, and 50 million for new vending banks. It is not surprising, under these conditions, the banks which are preparing to distribute the Livret A are so regard to the future amount of their commission. "The price that we proposed, that is 0.8%, and by definition, that is the price that accepts and nothing else," said even a week ago Baudouin Prot, the CEO of BNP Paribas ...