Cash and cash equivalents
Cash at bank and in hand
Payments in transit
Bills of exchange
Cash at year-end 2016 was used as collateral and therefore restricted for an amount of € 1 million (2015: zero). In a few countries DSM faces cross-border foreign exchange controls and/or other legal restrictions that limit its ability to make these balances available on short notice for general use by the group. The amount of cash held in these countries was €109 million (2015: €109 million). The cash will generally be invested or held in the relevant country and, given the other capital resources available to the group, does not significantly affect the ability of the group to meet its cash obligations.
Cash held by DSM includes cash from certain associates and joint ventures that continue to participate in the cash-pooling arrangements of DSM. At the end of 2016, the amount had decreased by €75 million to €62 million. This applies, among others, to the former DSM-entities DSM Fibre Intermediates and DSM Composite Resins as well as DSM Sinochem Pharmaceuticals. See also Note 21 'Current liabilities'.