On 4 November 2014, the International Association of Insurance Supervisors (IAIS) recently published a letter (dated 22 October 2014) to its members together with guidance on liquidity management and planning. The guidance is intended for group-wide supervisors of globally systemically important insurers (G-SIIs). The guidance addresses points which the IAIS considers to be central to effective liquidity management/planning. These include that liquidity management policies should be maintained by G-SIIs (which should be approved by the G-SII's Board) and that these should be integrated into the G-SII's risk management approach (and should inform business decisions). Additionally, there should be clear lines of liquidity reporting and responsibility.