17. Cash and Cash Equivalents
CHF million |
|
2021 |
|
2020 |
|---|---|---|---|---|
Cash at bank and in hand |
|
896.8 |
|
807.8 |
Short-term bank deposits |
|
40.4 |
|
40.6 |
Total |
|
937.2 |
|
848.4 |
In line with the internal risk policy cash and cash equivalents may only be deposited at financial institutions with good ratings. Furthermore, balances within this position are short-term and volatile. For these reasons the impairment risk for this position is seen as negligible and no expected credit loss is provided for.
The effective interest rate on short-term bank deposits reflects the average interest rate of the money market as well as the development of the currencies invested with an original maturity period of up to three months.