Federal Reserve Bank of Dallas

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Federal Reserve Bank of Dallas
Seal of the United States Federal Reserve System.svg
Federal Reserve Seal
Federal Reserve Bank of Dallas 1.jpg
Headquarters
Headquarters2200 N. Pearl St.
Dallas, Texas, USA
EstablishedMay 18, 1914 (108 years ago) (1914-05-18)
PresidentMeredith Black (interim)
Central bank of
Eleventh District
Preceded byRobert Steven Kaplan
Succeeded byLorie K. Logan (assumes office August 22, 2022)
Websitewww.DallasFed.org
The Federal Reserve Bank of Dallas is one of 12 regional banks that make up the Federal Reserve System

The Federal Reserve Bank of Dallas covers the Eleventh Federal Reserve District, which includes Texas, northern Louisiana and southern New Mexico, a district sometimes referred to as the Oil Patch.[1] The Federal Reserve Bank of Dallas is one of 12 regional Reserve Banks that, along with the Board of Governors in Washington, D.C., make up the nation's central bank. The Dallas Fed is the only one where all external branches reside in the same state (although the region itself includes northern Louisiana as well as southern New Mexico). The Dallas Fed has branch offices in El Paso, Houston, and San Antonio. The Dallas bank is located at 2200 Pearl St. in the Uptown neighborhood of Oak Lawn, just north of downtown Dallas and the Dallas Arts District. Prior to 1992, the bank was located at 400 S. Akard Street, in the Government District in Downtown Dallas. The older Dallas Fed building, which opened in 1921, was built in the Beaux-arts style, with large limestone structure with massive carved eagles and additional significant detailing; it is a City of Dallas Designated Landmark structure. The current Dallas Fed building, opened in September 1992, was designed by three architectural firms: Kohn Pedersen Fox Associates, New York; Sikes Jennings Kelly & Brewer, Houston; and John S. Chase, FAIA, Dallas and Houston, Dallas-based Austin Commercial Inc. served as project manager and general contractor.

Board of Directors[edit]

Map of the Eleventh District
Former Dallas Fed Presidents Robert D. McTeer (1991–2004, left) and Richard W. Fisher (2005–2015, right)

The following people serve on the Board of Directors as of 2022:[2]

Class A[edit]

(Elected by member banks to represent member banks)

Class A
Name Title Term Expires (Dec. 31)
Joe Quiroga President

Texas National Bank

Edinburg, Texas

2022
Robert A. Hulsey President and Chief Executive Officer

American National Bank of Texas

Terrell, Texas

2023
Kelly A. Barclay President and Chief Executive Officer

Ozona Bank

Wimberley, Texas

2024

Class B[edit]

(Elected by member banks to represent the public)

Class B
Name Title Term Expires (Dec. 31)
Cynthia Taylor President and Chief Executive Officer

Oil States International Inc.

Houston, Texas

2022
Gerald B. Smith Chairman and Chief Executive Officer

Smith, Graham & Company Investment Advisors, L.P.

Houston, Texas

2023
Renard U. Johnson President and Chief Executive Officer

Management & Engineering Technologies International, Inc.

El Paso, Texas

2024

Class C[edit]

(Appointed by the Federal Reserve Board of Governors to represent the public)

Class C
Name Title Term Expires (Dec. 31)
Thomas J. Falk

(Chair)

Retired Chairman and Chief Executive Officer

Kimberly-Clark Corporation

Dallas, Texas

2022
Claudia Aguirre
(Deputy Chair)
President and Chief Executive Officer

BakerRipley

Houston, Texas

2023
Cindy Ramos-Davidson Chief Executive Officer

El Paso Hispanic Chamber of Commerce

El Paso, Texas

2024

History[edit]

$20 1915 Dallas District FRBN.

Dallas was selected in 1914 to be the headquarters of the Eleventh District, in a somewhat surprising move. Originally, New Orleans was considered the favorite; however, while both cities had similarly sized banking operations, Dallas' activity had increased significantly while New Orleans' remained relatively flat, and therefore Dallas was chosen.[3]

Branches[edit]

Current Activity[edit]

US-Treasury-ElectronicTransferAccount-Logo.svg

The Dallas Fed is the nation's central processor for Treasury coupons and manages the national Electronic Transfer Account program, processes checks for federal benefit recipients. The Dallas Fed also focused on research dealing with maquiladoras and other U.S.-Mexico border economics.

The interim president is Meredith Black, who succeeded Robert Steven Kaplan in October 2021.[4] She will be succeeded by Lorie K. Logan in August 2022.[5]

See also[edit]

References[edit]

  1. ^ Tracy Alloway (June 20, 2016). "A Quick Trip to the Oil Patch Shows Energy-Related Losses Rising". Bloomberg Markets.
  2. ^ "Federal Reserve Board - Federal Reserve Bank of Dallas". Board of Governors of the Federal Reserve System. Retrieved 2022-02-07.
  3. ^ "History of the Dallas Fed". Archived from the original on 2014-06-25.
  4. ^ "Meredith N. Black, Federal Reserve Bank of Dallas". www.dallasfed.org. Retrieved 2022-02-07.
  5. ^ "Lorie K. Logan Named President and CEO of Dallas Fed". www.dallasfed.org. Retrieved 2022-05-22.

External links[edit]

Coordinates: 32°47′30″N 96°48′01″W / 32.791717°N 96.800162°W / 32.791717; -96.800162