On 8 November 2010, the CB published a letter to the appointed actuaries of Irish life assurance undertakings involved in variable annuity business. The letter annexes a list of items which the CB would like to see specifically addressed in relation to variable annuity business in year-end actuarial reports. This list includes, amongst other items, the impact of dynamic hedging, the analysis and justification of basis risk and a discussion of the disparities between operational and model risk for the purposes of calculating mathematical reserves. In the letter, the CB requests that the year-end actuarial report, together with copies of the minutes and papers of any board or committee meeting at which the actuarial report was discussed, be submitted by 30 April 2011.