The total amount on Belgian regulated savings accounts has fallen by almost 28.5 billion euros in two months. This was evident from provisional data from the National Bank on Tuesday. The main reason is the immensely popular one-year government bond, with which the government raised 21.9 billion euros at the end of August.
Today at 12:49
Between the end of July and the end of August, regulated savings deposits had already fallen by 18 billion euros to 279.29 billion euros, updated data show. At the end of September there was a further decline to 268.92 billion euros, according to the new figures. In September, the amount fell again by almost 10.4 billion euros. In two months, approximately 28.46 billion euros have been withdrawn from savings accounts.
READ ALSO. Flemings never borrowed so much from the Flemish government to buy a house
In total, the banks ‘lost’ less money, across the different types of deposits. During the issuance of the government bond, several banks offered term deposits with a similar return, although such formulas have been increasingly successful as a result of rising interest rates.
In a blog post about the “record decline” in bank deposits, the National Bank had already pointed out last month that the full impact of the government bond was not yet visible in the August figure. The bank subscriptions will mainly be reflected in the September figures, the NBB said. Private individuals could also register directly with the debt agency.