Note 11 Cash and cash equivalents

€ million

2021

2020

Cash held at banks

44

78

Deposits

580

220

   

Carrying amount as at 31 December

624

298

The effective interest rate on cash and cash equivalents ranged from -1.03% to -0.26% (2020: -0.68% to -0.17%). Cash and cash equivalents are held almost entirely in euros. In 2021, the cash and cash equivalents included amounts that were not at the unrestricted disposal of Alliander. This concerns a blocked bank account with a balance of €1 million (2020: €1 million).