Federal Reserve Bank of Dallas

Federal Reserve Bank of Dallas building
Map of the Eleventh District

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.

Current Board of Directors

The following people serve on the Board of Directors as of 2014:[2]

Class A

Elected by member banks to represent member banks

Class A
Name Title Term Expires
J. Russell Shannon Chief Executive Officer and Chairman of the Board
National Bank of Andrews
Andrews, Texas		 2017
George F. Jones, Jr. Retired Chief Executive Officer
Texas Capital Bank
Dallas, Texas		 2016
Jimmy Rasmussen President and Chief Executive Officer
HomeTown Bank, N.A.
Galveston, Texas		 2015

Class B

Elected by member banks to represent the public

Class B
Name Title Term Expires
Curt Anastasio Retired President and CEO
NuStar Energy L.P.
San Antonio, Texas		 2017
Jorge A. Bermudez President and Chief Executive Officer
Byebrook Group
College Station, Texas		 2015
Ann B. Stern President and Chief Executive Officer
Houston Endowment Inc.
Houston, Texas		 2016

Class C

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

Class C
Name Title Term Expires
Matthew K. Rose Executive Chairman
BNSF Railway Company
Fort Worth, Texas		 2017
Renu Khator
(Deputy Chair)		 Chancellor, University of Houston System
President, University of Houston
Houston, Texas		 2014
Myron E. Ullman
(Chair)		 Chief Executive Officer
J.C. Penney Company, Inc.
Plano, Texas		 2016

History

$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

Current Activity

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 president is Robert Steven Kaplan, who replaced Richard W. Fisher in September 2015.

See also

References

  1. ↑ Tracy Alloway (June 20, 2016). "A Quick Trip to the Oil Patch Shows Energy-Related Losses Rising". Bloomberg Markets.
  2. ↑ Board of Directors-Dallas Fed http://www.dallasfed.org/fed/bod/index.cfm. Missing or empty |title= (help)
  3. ↑ "History of the Dallas Fed".
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Coordinates: 32°47′30″N 96°48′01″W / 32.791717°N 96.800162°W / 32.791717; -96.800162

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