16 Cash and cash equivalents

16 Cash and cash equivalents
  31.12.2010 31.12.2011
  CHF thousands    
  Sight funds 348,663 338,279
  Cash invested for less than 90 days 1,312 1,594
  Total 349,975 339,873

All cash and cash equivalents fall into the category “Loans and receivables” and are measured at amortised cost.

The average interest rate for credit in CHF was 0.3 per cent (previous year: 0.2%) and for credit in EUR 0.6 per cent (previous year: 0.6%).

Cash and cash equivalents are held in the following currencies:    
  31.12.2010 31.12.2011
Swiss francs 156,739 75,603
Euros (translated) 191,186 261,139
Other currencies (translated) 2,050 3,131

All positions are freely disposable or are due within 90 days. The carrying amounts correspond approximately to the fair values.

Cash and cash equivalents for cash flow statement 31.12.2010 31.12.2011
CHF thousands    
Cash and cash equivalents 349,975 339,873
Cash and cash equivalents held for sale1) - 6,455
Negative overdrafts2) -5,708 -986
Total 344,267 345,342

1) Cash and cash equivalents held for sale are disclosed under “Assets held for sale” (Note 28). These must be added again to cash and cash equivalents for the cash flow statement.

2) The negative overdrafts are liabilities which are owed to banks and are integrated in the payment transactions of the Group companies.

These are disclosed under current financial liabilities (Note 23).