Federal Reserve Bank of Dallas
Encyclopedia
The Federal Reserve Bank of Dallas covers the Eleventh Federal Reserve District, which includes Texas
, northern Louisiana
and southern New Mexico
.
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 Uptown
area 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.
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.
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 maquiladora
s and other U.S.-Mexico border economics.
The president, as of 2005, is Richard W. Fisher
, the former vice chairman of Kissinger and Associates. His predecessor, who served from 1991–2005, was Robert D. McTeer
.
Texas
Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
, northern Louisiana
Louisiana
Louisiana is a state located in the southern region of the United States of America. Its capital is Baton Rouge and largest city is New Orleans. Louisiana is the only state in the U.S. with political subdivisions termed parishes, which are local governments equivalent to counties...
and southern New Mexico
New Mexico
New Mexico is a state located in the southwest and western regions of the United States. New Mexico is also usually considered one of the Mountain States. With a population density of 16 per square mile, New Mexico is the sixth-most sparsely inhabited U.S...
.
The Federal Reserve Bank of Dallas is one of 12 regional Reserve Banks
Federal Reserve System
The Federal Reserve System is the central banking system of the United States. It was created on December 23, 1913 with the enactment of the Federal Reserve Act, largely in response to a series of financial panics, particularly a severe panic in 1907...
that, along with the Board of Governors in Washington, D.C., make up the nation's central bank
Central bank
A central bank, reserve bank, or monetary authority is a public institution that usually issues the currency, regulates the money supply, and controls the interest rates in a country. Central banks often also oversee the commercial banking system of their respective countries...
. 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
El Paso, Texas
El Paso, is a city in and the county seat of El Paso County, Texas, United States, and lies in far West Texas. In the 2010 census, the city had a population of 649,121. It is the sixth largest city in Texas and the 19th largest city in the United States...
, Houston, and San Antonio.
The Dallas bank is located at 2200 Pearl St. in Uptown
Uptown Dallas
Uptown is a PID and neighborhood in Dallas, Texas. Uptown is adjacent-to and north-of downtown Dallas, and is bordered by US 75 on the east, N Haskell Avenue on the northeast, Katy Trail on the northwest, Bookhout Street and Cedar Springs Road on the west, N Akard Street on the southwest and Spur...
area of Oak Lawn, just north of downtown Dallas
Downtown Dallas
Downtown Dallas is the Central Business District in Dallas, Texas USA, located in the geographic center of the city. The area termed "Downtown" has traditionally been defined as bounded by the downtown freeway loop: bounded on the east by I-345 Downtown Dallas is the Central Business District...
and the Dallas Arts District.
Prior to 1992, the bank was located at 400 S. Akard Street, in the Government District in Downtown Dallas
Downtown Dallas
Downtown Dallas is the Central Business District in Dallas, Texas USA, located in the geographic center of the city. The area termed "Downtown" has traditionally been defined as bounded by the downtown freeway loop: bounded on the east by I-345 Downtown Dallas is the Central Business District...
. 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
Kohn Pedersen Fox
Kohn Pedersen Fox Associates , an architectural firm responsible for several world-renowned buildings, provides architectural, interior and urban design as well as programming and master planning services for clients in both the public and private sectors...
, 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.
Current Board of Directors
The following people serve on the board of directors as of 2011: All terms expire December 31.Class A
| Name | Title | Term Expires |
|---|---|---|
| George F. Jones, Jr. | Chief Executive Officer Texas Capital Bank Dallas, Texas Dallas, Texas Dallas is the third-largest city in Texas and the ninth-largest in the United States. The Dallas-Fort Worth Metroplex is the largest metropolitan area in the South and fourth-largest metropolitan area in the United States... |
2011 |
| Pete Cook | Chief Executive Officer First National Bank in Alamogordo Alamogordo, New Mexico Alamogordo, New Mexico Alamogordo is the county seat of Otero County and a city in south-central New Mexico, United States. A desert community lying in the Tularosa Basin, it is bordered on the east by the Sacramento Mountains. It is the nearest city to Holloman Air Force Base. The population was 35,582 as of the 2000... |
2012 |
| Joe Kim King | Chief Executive Officer and Chairman of the Board Texas Country Bancshares, Inc. Brady, Texas Brady, Texas Brady is a city in McCulloch County, Texas, United States. Brady refers to itself as "The Heart of Texas", as it is the closest city to the geographical center of the state. The population was 5,523 at the 2000 census... |
2013 |
Class B
| Name | Title | Term Expires |
|---|---|---|
| James B. Bexley | Professor, Finance Sam Houston State University Sam Houston State University Sam Houston State University was founded in 1879 and is the third oldest public institution of higher learning in the State of Texas. It is located in Huntsville, Texas. It is one of the oldest purpose-built institutions for the instruction of teachers west of the Mississippi River and the first... Huntsville, Texas Huntsville, Texas Huntsville is a city in and the county seat of Walker County, Texas, United States. The population was 35,508 at the 2010 census. It is the center of the Huntsville micropolitan area.... |
2011 |
| Margaret H. Jordan | President & Chief Executive Officer Dallas Medical Resource Dallas, Texas Dallas, Texas Dallas is the third-largest city in Texas and the ninth-largest in the United States. The Dallas-Fort Worth Metroplex is the largest metropolitan area in the South and fourth-largest metropolitan area in the United States... |
2012 |
| Elton M. Hyder | President The EMH Corporation Fort Worth, Texas Fort Worth, Texas Fort Worth is the 16th-largest city in the United States of America and the fifth-largest city in the state of Texas. Located in North Central Texas, just southeast of the Texas Panhandle, the city is a cultural gateway into the American West and covers nearly in Tarrant, Parker, Denton, and... |
2010 |
Class C
| Name | Title | Term Expires |
|---|---|---|
| Renu Khator Renu Khator Renu Khator is the eighth chancellor of the University of Houston System and the thirteenth president of the University of Houston. She is the first foreign-born president of the university, and the second woman to hold the position... |
Chancellor/President University of Houston University of Houston The University of Houston is a state research university, and is the flagship institution of the University of Houston System. Founded in 1927, it is Texas's third-largest university with nearly 40,000 students. Its campus spans 667 acres in southeast Houston, and was known as University of... Houston, Texas Houston, Texas Houston is the fourth-largest city in the United States, and the largest city in the state of Texas. According to the 2010 U.S. Census, the city had a population of 2.1 million people within an area of . Houston is the seat of Harris County and the economic center of , which is the ... |
2011 |
| Myron E. Ullman III (Deputy Chair) |
Chief Executive Officer & Chairman of the Board J.C. Penney Company, Inc. Plano, Texas Plano, Texas Plano is a city in the state of Texas, located mostly within Collin County. The city's population was 259,841 at the 2010 census, making it the ninth-largest city in Texas and the 71st most populous city in the United States. Plano is located within the metropolitan area commonly referred to as... |
2012 |
| Herb Kelleher Herb Kelleher Herbert D. Kelleher is the co-founder, Chairman Emeritus, and former CEO of Southwest Airlines .-Life and career:... (Chair) |
Founder and Chairman Emeritus Southwest Airlines Southwest Airlines Southwest Airlines Co. is an American low-cost airline based in Dallas, Texas. Southwest is the largest airline in the United States, based upon domestic passengers carried,... Dallas, Texas Dallas, Texas Dallas is the third-largest city in Texas and the ninth-largest in the United States. The Dallas-Fort Worth Metroplex is the largest metropolitan area in the South and fourth-largest metropolitan area in the United States... |
2013 |
History
Dallas was selected in 1914 to be the headquarters of the Eleventh District, in a somewhat surprising move. Originally, New OrleansNew Orleans, Louisiana
New Orleans is a major United States port and the largest city and metropolitan area in the state of Louisiana. The New Orleans metropolitan area has a population of 1,235,650 as of 2009, the 46th largest in the USA. The New Orleans – Metairie – Bogalusa combined statistical area has a population...
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.
Branches
- Federal Reserve Bank of Dallas El Paso BranchFederal Reserve Bank of Dallas El Paso BranchThe Reserve Bank of Dallas El Paso Branch is one of three branches of the Federal Reserve Bank of Dallas.The branch is located in downtown El Paso, Texas at 301 E...
- Federal Reserve Bank of Dallas Houston BranchFederal Reserve Bank of Dallas Houston BranchThe Reserve Bank of Dallas Houston Branch is one of three branches of the Federal Reserve Bank of Dallas.The branch is located in the Fourth Ward, Houston, Texas.-Appointed by the Federal Reserve Bank:-Appointed by the Board of Governors:-See also:...
- Federal Reserve Bank of Dallas San Antonio BranchFederal Reserve Bank of Dallas San Antonio BranchThe Reserve Bank of Dallas Houston Branch is one of three branches of the Federal Reserve Bank of Dallas.The branch is located in San Antonio.-Appointed by the Federal Reserve Bank:-Appointed by the Board of Governors:-See also:* Federal Reserve Act...
Current Activity
The Dallas Fed also focused on research dealing with maquiladora
Maquiladora
A maquiladora or maquila is a concept often referred to as an operation that involves manufacturing in a country that is not the client's and as such has an interesting duty or tariff treatment...
s and other U.S.-Mexico border economics.
The president, as of 2005, is Richard W. Fisher
Richard W. Fisher
Richard W. Fisher is currently the President and CEO of the Federal Reserve Bank of Dallas, having assumed that post in April, 2005.-Career:...
, the former vice chairman of Kissinger and Associates. His predecessor, who served from 1991–2005, was Robert D. McTeer
Robert D. McTeer
Robert D. McTeer is an American economist, and has been a fellow at the US National Center for Policy Analysis since January 2007. McTeer is a former president of the Federal Reserve Bank of Dallas, and a former chancellor of the Texas A&M University System....
.
See also
- Federal Reserve ActFederal Reserve ActThe Federal Reserve Act is an Act of Congress that created and set up the Federal Reserve System, the central banking system of the United States of America, and granted it the legal authority to issue Federal Reserve Notes and Federal Reserve Bank Notes as legal tender...
- Federal Reserve SystemFederal Reserve SystemThe Federal Reserve System is the central banking system of the United States. It was created on December 23, 1913 with the enactment of the Federal Reserve Act, largely in response to a series of financial panics, particularly a severe panic in 1907...
- Federal Reserve BankFederal Reserve BankThe twelve Federal Reserve Banks form a major part of the Federal Reserve System, the central banking system of the United States. The twelve federal reserve banks together divide the nation into twelve Federal Reserve Districts, the twelve banking districts created by the Federal Reserve Act of...
- Federal Reserve Districts
- Federal Reserve BranchesFederal Reserve BranchesThere are 24 Federal Reserve Branches. As late as 2008, there were 25 branches, but in October 2008 the Federal Reserve Bank of New York Buffalo Branch was closed.List of Federal Reserve Branches* Boston* New York...
- Structure of the Federal Reserve SystemStructure of the Federal Reserve SystemThe Federal Reserve System is composed of five parts:# The presidentially appointed Board of Governors , an independent federal government agency located in Washington, D.C....
- Federal Reserve Bank of Dallas El Paso BranchFederal Reserve Bank of Dallas El Paso BranchThe Reserve Bank of Dallas El Paso Branch is one of three branches of the Federal Reserve Bank of Dallas.The branch is located in downtown El Paso, Texas at 301 E...
- Federal Reserve Bank of Dallas Houston BranchFederal Reserve Bank of Dallas Houston BranchThe Reserve Bank of Dallas Houston Branch is one of three branches of the Federal Reserve Bank of Dallas.The branch is located in the Fourth Ward, Houston, Texas.-Appointed by the Federal Reserve Bank:-Appointed by the Board of Governors:-See also:...
- Federal Reserve Bank of Dallas San Antonio BranchFederal Reserve Bank of Dallas San Antonio BranchThe Reserve Bank of Dallas Houston Branch is one of three branches of the Federal Reserve Bank of Dallas.The branch is located in San Antonio.-Appointed by the Federal Reserve Bank:-Appointed by the Board of Governors:-See also:* Federal Reserve Act...