The board of directors of Franco-Belgian bank Dexia SA yesterday reaffirmed its earlier mandate that chief executive officer Pierre Mariani should explore all options for reducing risk associated with bond insurer subsidiary Financial Security Assurance Inc. in response to rumors the company planned to sell all or parts of the insurer.

Dexia said in a statement that it will report on any decision about FSA "in due time." Dexia reports its third-quarter results on Nov. 14, when Mariani is supposed to also present a strategic plan for the bank.

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