Note 11 Cash and cash equivalents
€ million | 2018 | 2017 |
Cash held at banks | 80 | 36 |
Deposits | 60 | 65 |
Carrying amount as at 31 December | 140 | 101 |
The effective interest rate on cash and cash equivalents ranged from –0.54% to –0.41% (2017: –0.55% to –0.43%). Cash and cash equivalents are held almost entirely in euros. In 2018, 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 (2017: €1 million).