Paragraph 2: Provisions relating to the operation of people's savings passbook accounts.

Popular savings passbook accounts may be opened in banks, establishments and organisations authorised to receive deposits from the public and meeting the conditions set out in article R. 221-61.

The initial deposit on a popular savings passbook account must be at least €30.

Authorised transactions on people’s passbook savings accounts may only be carried out at the counter where the account was opened.

Sums credited to a Livret d’Epargne Populaire account are repayable on demand.

Unless otherwise stipulated in this chapter, deposits, withdrawals and transfers between the popular savings passbook account and the holder’s current account are carried out in accordance with the general regulations applicable to passbook accounts.

The transactions referred to in article R. 221-42 are those defined for passbook accounts by order of the Minister for the Economy, in accordance with the procedures set out in article L. 611-1.

Payments into a people’s savings passbook account may not exceed €10,000.

The balance of a popular savings passbook account may be reduced to zero. However, no transaction may have the effect of debiting the account.

The remuneration of the people’s savings passbook account includes interest set by order of the Minister for the Economy. At 31 December each year, the interest is added to the capital and itself becomes interest-bearing.

The capitalisation provided for in article R. 221-50 may raise the amount of the account above the ceiling on authorised deposits referred to in article D. 221-46.