Note 11 Cash and cash equivalents
€ million | 2017 | 2016 |
Cash held at banks | 36 | 11 |
Deposits | 65 | 37 |
Carrying amount as at 31 December | 101 | 48 |
The effective interest rate on cash and cash equivalents ranged from -0.55% to -0.43% (2016: -0.62% to 0.0%). Cash and cash equivalents are held almost entirely in euros. In 2017, there were amounts of cash and deposits which were not at the unrestricted disposal of Alliander. This concerns a blocked bank account with a balance of €1 million (2016: nil).