ST. LOUIS — Any banking or thrift institution contemplating a merger or acquisition can now save effort and expense when performing critical research for the process by accessing a free, self-help online service recently developed by the Research division of the Federal Reserve Bank of St. Louis.
Dubbed "CASSIDI®" (Competitive Analysis and Structure Source Instrument for Depository Institutions), the new program is available at http://cassidi.stlouisfed.org/. CASSIDI® enables anyone to search for banking market definitions, view banking market concentrations, and perform preliminary scenarios for prospective mergers or acquisitions, saving potential participants money and time.
"CASSIDI® is a one-stop shop for banking competition needs," said Adam Zaretsky, an economist with the Reserve Bank.
Attorney Leonard Essig, with the St. Louis-based law firm of Lewis, Rice & Fingersh LC, has found CASSID®I very helpful. "I've run several prospective scenarios for clients," he said, "and I'm confident when I use the system that it's giving me not only the correct market definitions, but also it's capturing all the banks and branches I need to make an accurate evaluation."
With information from financial institutions around the country and updated regularly, CASSIDI® allows participants to:
With branches in Little Rock, Louisville and Memphis, the Federal Reserve Bank of St. Louis serves the Eighth Federal Reserve District, which includes all of Arkansas, eastern Missouri, southern Indiana, southern Illinois, western Kentucky, western Tennessee and northern Mississippi. The St. Louis Fed is one of 12 regional Reserve banks that, along with the Board of Governors in Washington, D.C., comprise the Federal Reserve System. As the nation's central bank, the Federal Reserve System formulates U.S. monetary policy, regulates state-chartered member banks and bank holding companies, and provides payment services to financial institutions and the U.S. government.
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