22 | Financial assets

in TUSD 31 Dec 2022 31 Dec 2021
Debt securities 1,700,159 1,219,394
Deposits 314,395 310,775
Equity investment funds 86,970 106,950
Loans to third parties 736,743 513,681
Loans to member associations and confederations 17,477 7,642
Current financial assets 2,855,744 2,158,442
Debt securities 1,079,325 1,172,679
Loans to member associations and confederations 100,571 106,681
Loans to related parties 784 0
Non-current financial assets 1,180,680 1,279,360
Total financial assets 4,036,424 3,437,802

FIFA’s financial assets are invested in short-term and long-term bonds, equity investment funds, loans and deposits. Loans to third parties are granted mainly to Swiss public authorities.

Under stage 3 of the COVID-19 Relief Plan, loans are granted to member associations and confederations. Member associations are able to apply for interest-free loans of up to 35% of their audited annual revenues, with a minimum loan of USD 0.5 million and a maximum loan of USD 5 million being available. These loans are initially recognised at fair value, i.e. the current value of the expected future cash flows discounted at a market- related interest rate.

As at 31 December 2022, FIFA had an outstanding loan of USD 0.8 million due from a key member of management.