Note 11 Cash and cash equivalents
€ million | 2016 | 2015 |
Cash held at banks | 11 | 15 |
Deposits | 37 | 74 |
Carrying amount as at 31 December | 48 | 89 |
The effective interest rate on cash and cash equivalents ranged from -0.62% to 0.0% (2015: -0.20% to 0.17%). Cash and cash equivalents are held almost entirely in euros. In 2016, there were no amounts of cash and deposits which were not at the unrestricted disposal of Alliander (2015: nil).