Eurozone households hold 10 trillion euros in low-yield bank accounts

A study by five economists from the European Central Bank (ECB), led by Laura Parisi, reveals that 80% of Eurozone households do not own stocks or investment funds. Approximately 10 trillion euros—representing one-third of all European household financial assets—remain in bank accounts with little to no yield.

The research, titled ‘Why Europeans save differently – and how to put those savings to work’, describes a highly conservative investor profile. Over 60% of households concentrate their wealth in real estate, typically their primary residence, while one in four families keeps funds in current accounts or low-yield deposits. Only 4% of households invest significantly in stocks, bonds, or funds.

In contrast to the United States, where the savings rate is below 50% and 65% of high-wealth individuals hold stocks or bonds, the European rate for the same group is 45%. The ECB suggests that channeling these savings into capital markets could drive innovation, productivity, and long-term growth. Additionally, the European Commission has previously urged that these savings remain within the continent rather than flowing toward Wall Street.