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Federal Reserve Bank of Dallas
Member Bank of Federal Reserve From Wikipedia, the free encyclopedia
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The Federal Reserve Bank of Dallas (informally referred to as the Dallas Fed) is one of 12 regional Federal Reserve Banks that, along with the Federal Reserve Board of Governors in Washington, D.C., make up the Federal Reserve System, the central bank of the United States. The Dallas Fed covers the Eleventh Federal Reserve District, which includes Texas, northern Louisiana and southern New Mexico, a region sometimes referred to as the Oil Patch.[1]
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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. The older Dallas Fed building, which opened in 1921, was designed in the Beaux-Arts style. It is a 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.
The Dallas Fed has branch offices in El Paso, Houston, and San Antonio. It is the only federal reserve bank with every branch located in the same state.
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Board of directors
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The following people serve on the Board of Directors as of 2024[update]:[2]
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History
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]
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The Dallas Fed is the nation's central processor for Treasury coupons and manages the national Electronic Transfer Account program, processing checks for federal benefit recipients. The Dallas Fed has also focused on research dealing with maquiladoras and other U.S.–Mexico border economic activities.
The current president is Lorie K. Logan, who assumed office in August 2022.[4] Logan succeeded Robert Steven Kaplan, who resigned in October 2021.[5]
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