Financial Repression Tracker

Rules that steer savings into government debt or hold returns below inflation, country by country.

Steer · Directed credit

Mandatory recycling of postal and regulated savings

What it is
Transfer deposits gathered by postal or designated savings institutions into a public treasury, development fund or public lending intermediary.
Why it counts
A large retail deposit base supplies administratively allocated financing to government projects and public borrowers.

When it was in force

  • Japan: 2001, historical; the rule may be older than the cited document
  • France: 2026 → now, in force; the rule may be older than the cited document

2 examples

  1. Japan

    2001Historical

    The rule may be older than the cited document · As cited: Postwar FILP system to March 2001

    Postal savings and pension reserves were compulsorily deposited into the public funding system before the April 2001 reform.

    Fiscal Investment and Loan Program compulsory-deposit system; 1998 Fundamental Law on the Reform of Government Ministries and Agencies and subsequent FILP reformPrimary source
    “Compulsory deposit of Postal Savings and Pension Reserves shall be abolished”

    mof.go.jp (opens in a new tab)Checked: quote matched on the page by script

    Japan today: index 64.9

  2. France

    2026 → nowIn force

    The rule may be older than the cited document · As cited: Current (Banque de France legal framework, 2026); older centralisation system

    Part of Livret A and LDDS deposits must be centralised at Caisse des dépôts to support designated lending.

    Livret A and LDDS centralisation in the Caisse des depots Fonds d'epargne (Code monetaire et financier regulated-savings framework)Primary source
    “Les fonds collectés sur les LDDS sont en partie centralisés au Fonds d’épargne géré par la Caisse des dépôts et consignations qui finance principalement le logement social et la politique de la ville.”

    banque-france.fr (opens in a new tab)Checked: quote confirmed on the page by a reviewing agent

    France today: index 54.6

Examples and their dates reviewed .