Short-term investments (see note 4.3)
Fitch ratings Investment grade (AAA to BBB-)
49,000
29,000
Other ratings: ZKB AA (Banque Cantonale Fribourg)
-
10,000
Other ratings: S&P A- (Cembra Money Bank AG)
30,000
20,000
79,000
59,000
Non-current investments (see note 4.3)
Fitch ratings Investment grade (AAA to BBB-)
80,000
40,000
Other ratings: ZKB AA+ (Glarner Kantonalbank)
10,000
-
Other ratings: ZKB AA (Banque Cantonale Fribourg)
30,000
20,000
Other ratings: S&P A- (Cembra Money Bank AG)
40,000
30,000
160,000
90,000
As investments are measured at FVTPL, they do not require additional impairment for credit losses. In locations where rated
financial institutions are not operational, the IFRC maintains banking relationships with certain unrated financial institutions.
At 31 December 2022, the value of assets held with such institutions was CHF 944k (2021: CHF 1,004k). Other positions
are not material or are covered by provisions.
INTERNATIONAL FEDERATION OF RED CROSS AND RED CRESCENT SOCIETIES, GENEVA NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Page 53
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4.6 Financial instruments – Fair values and risk management (continued) (iii) Liquidity risk This concerns the risk that the IFRC will encounter difficulty to meet the obligations associated with its financial liabilities
that are settled by cash or other financial assets.
Liquidity risk is minimised by maintaining sufficient funds as cash in hand, on-demand bank deposits or short-term bank
deposits with original maturities of three months or less, to meet short-term liabilities. A maturity analysis of financial
liabilities is provided below:
