Note 11 Cash and cash equivalents
€ million | 2020 | 2019 |
Cash held at banks | 78 | 79 |
Deposits | 220 | 74 |
Carrying amount as at 31 December | 298 | 153 |
The effective interest rate on cash and cash equivalents ranged from -0.68% to -0.17% (2019: -0.57% to 0.00%). Cash and cash equivalents are held almost entirely in euros. In 2020, there were amounts of cash which were not at the unrestricted disposal of Alliander. This concerns a blocked bank account with a balance of €1 million (2019: €1 million).