On 23 October 2014, the basic capital requirements (BCR) for global systemically important insurers (GSIIs) were published. This is part of the ongoing IAIS project to develop a group wide 'insurance capital standard' (ICS) for GSIIs – which will eventually replace the BCR. It is intended that, during 2015, GSIIs will report their BCR to group-wide supervisors. The IAIS will have access to this information to assist it with the next stage of its ICS project, i.e. the development of 'higher loss absorbency' requirements. On 29 October 2014, the IAIS published a feedback document identifying and responding to key issues which arose in its consultation on the BCR earlier this year.