Note 11 Cash and cash equivalents

€ million

2023

2022

Cash held at banks

87

55

Deposits

157

150

     

Carrying amount as at 31 December

244

205

The effective interest rate on cash and cash equivalents ranged from 0.0% to 4.3% (2022: -3.4% to 2.5%). Cash and cash equivalents are held almost entirely in euros. In 2023, 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 €0.4 million (2022: €1 million).