These recommendations have yet to be approved by the government.
The interest rate on the Livret A, whose calculation formula is based on the rate of inflation, gradually climbed to 3% last year from an all-time low of 0.5% in 2020.
The proposed rate of 3.5% for the Livret d'épargne populaire is "significantly higher than the mechanical formula of 2.9%" based on inflation, explained François Villeroy de Galhau to the senators.
(Written by Kate Entringer)