| | 2022 | 2021 |
|---|---|---|
| Interest on employee benefits | -36 | -20 |
| Interest on derivatives | -315 | -253 |
| Interest owed to banks | -36 | -38 |
| Interest on subordinated liabilities | -51 | -44 |
| Interest on borrowings | -3 | -1 |
| Other interest expenses | -6 | -6 |
| | | |
| Total interest expense | -447 | -362 |
Included within interest owed to banks is an amount of € 24 million (2021: € 31 million) relating to negative interest paid on cash and cash equivalents.