Table:
|  | 2019 | 2019 | 2019 | 2018 | 2018 |
| --- | --- | --- | --- | --- | --- |
|  | Level | Carrying Amount | Estimated Fair Value | Carrying Amount | Estimated Fair Value |
| Cash equivalents (1) | 1 | 1,691 | 1,691 | 2,138 | 2,138 |
| Long-term debt |  |  |  |  |  |
| – Bank loans (including current portion) | 2 | 718 | 718 | 594 | 594 |
| – Senior unsecured convertible bonds (2) | 1 | 1,354 | 2,103 | 1,316 | 1,501 |
Paragraphs:
The following table includes additional fair value information on financial assets and liabilities as at December 31, 2019 and 2018:
(1) Cash equivalents primarily correspond to deposits at call with banks.
(2) The carrying amount of the senior unsecured convertible bonds as reported above corresponds to the liability component only. For the convertible bonds issued on July 3, 2017 and outstanding as at December 31, 2017, the carrying amount of the senior unsecured convertible bonds corresponds to the liability component only, since, at initial recognition, an amount of $242 million was recorded directly in shareholders’ equity as the value of the equity instrument embedded in the convertible instrument.
Question:
What is the increase/ (decrease) in Cash equivalents of Carrying Amount from 2018 to 2019?
Answer: 1691-2138 = -447