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FSA relaxes resilience tests

The FSA has relaxed the resilience test rules that require life companies to sell shares to cover liabilities.

The rule change is designed to avoid life companies having to sell blue chip stocks following sharp falls in share prices. The move follows a relaxation earlier this month, and follows a week of extreme market volatility. The FSA says it wants to avoid an unnecessary downward spiral and will leave the relaxation of the rules in place as long as the situation requires it.

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