New Observatory takes stock of French financial products

The Financial Sector Advisory Committee (CCSF) took advantage of the beginning of July to present a new publication in the form of its first report from the Observatory for Financial Savings Products (OPEF). As its name suggests, this Observatory must bring more transparency on financial savings products (excluding bank savings).

FACTS

• The CCSF has therefore just published the first edition of its new report of the Financial Savings Products Observatory (FSO). It will subsequently be published annually.

• In particular, life insurance contracts, individual PERs, ordinary securities accounts, PEA and PEA-SME are analysed in this new observatory.

• And OPEF begins its study by stating that these products represent EUR 2,048 billion outstanding in 2023. The report then proposes:
  • a study of net performance by asset class and geographical area;
  • an observation of the levels of fees charged on investment products and supports.

• OPEF must ultimately enable savers to better identify the eco-responsible dimension of financial savings products by enhancing transparency and readability on the environmental, social and governance (ESG) characteristics of products. The annual report thus includes a section dedicated to the ESG dimension.

ISSUES

• Monitoring legislative developments The CCSF states that it has launched its Financial Savings Products Observatory under the Green Industry Act of 23 October 2023. In the area of savings, the Act mainly provides for measures to direct popular savings and wage savings towards financing the green industry, notably through better information to savers on the environmental impact of financial products, the development of green labels for investments and incentives to invest in industrial projects involved in the ecological transition.

• Delivering more transparent information And promoting transparency of information is precisely the primary goal of OPEF, which aims primarily at providing savers and professionals with reliable and objective data on the evolution of fees and performance of financial savings products. It aims to improve the readability of French financial savings in an educational way.

PERSPECTIVE

• The current positioning of the CCSF allows it to complete the analysis already done on the evolution of savings in France by the Fédération Bancaire Française.

• The latter published Indeed, the latest figures on this subject last May, revealing that the French savings rate was still very high. It reached 18% in the 4th quarter of 2024, allowing France to rank among the countries in the euro area with the highest saving rate. In Germany this is 20.2 %, compared with 13.4 % in Spain and 11.2 % in Italy.

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