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First Niagara (FNFG) sells $3.1B of MBS with the proceeds used to pay off short-term debt. The...

First Niagara (FNFG) sells $3.1B of MBS with the proceeds used to pay off short-term debt. The lender expects a boost to earnings quality and consistency due to reduced prepayment risk and exposure to net interest margins. Shares +0.3% AH following a 5.7% gain in the regular session. (PR)
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