MONEY invested in tax-free Livret A and LDD accounts has dropped: €4.69 billion was invested in the first 10 months of 2010, compared to €15.4 billion in the same period in the year before.

Meanwhile, banks are dissatisfied because the proportion of Livret A savings they have to pass to a central authority will rise from 67 to 70 per cent by 2018.

They had asked for a reduction to 50 per cent. The money is managed to raise funds for socially useful purposes.