Cash and cash equivalents at December 31, 2017 include deposits with financial institutions that have good credit ratings of €112 million (2016: €99 million), investments in money market funds that invest in debt securities of financial institutions that have good credit rating and governments of €467 million (2016: €24 million) and interest-bearing bank accounts of €257 million (2016: €255 million). Our cash and cash equivalents are predominantly denominated in Euros and US dollars, and partly in Singapore dollars, Korean won, and Japanese yen.
Bank guarantees exist for an amount of €779 at December 31, 2017 (€827 as per December 31, 2016).
Cash and cash equivalents have insignificant interest rate risk and remaining maturities of three months or less at the date of acquisition. Except for an amount of €3.4 million (2016: €3.7 million), no restrictions on usage of cash and cash equivalents exist. The carrying amount of these assets approximates to their fair value.