Note 11 Cash and cash equivalents
€ million | 2019 | 2018 |
Cash held at banks | 79 | 80 |
Deposits | 74 | 60 |
Carrying amount as at 31 December | 153 | 140 |
The effective interest rate on cash and cash equivalents ranged from -0.57% to 0.00% (2018: -0.54% to -0.41%). Cash and cash equivalents are held almost entirely in euros. In 2019, 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 (2018: €1 million).