Federal Reserve Bank of Dallas
Federal Reserve Seal | |
Headquarters | |
Headquarters | 2200 N. Pearl St. Dallas, Texas, USA |
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Established | May 18, 1914 (110 years ago) (1914-05-18) |
President | Lorie K. Logan |
Central bank of | Eleventh District
|
Preceded by | Robert Steven Kaplan |
Website | www.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 of the United States, 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 U.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
The following people serve on the Board of Directors as of 2022[update]:[2]
Class A
(Elected by member banks to represent member banks)
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
(Elected by member banks to represent the public)
Name | Title | Term Expires (Dec. 31) |
---|---|---|
Cynthia Taylor | President and Chief Executive Officer 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
(Appointed by the Federal Reserve Board of Governors to represent the public)
Name | Title | Term Expires (Dec. 31) |
---|---|---|
Thomas J. Falk (Chair) | Retired Chairman and Chief Executive Officer Dallas, Texas | 2022 |
Claudia Aguirre (Deputy Chair) | President and Chief Executive Officer Houston, Texas | 2023 |
Cindy Ramos-Davidson | Chief Executive Officer El Paso Hispanic Chamber of Commerce El Paso, Texas | 2024 |
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]
Branches
- Federal Reserve Bank of Dallas El Paso Branch
- Federal Reserve Bank of Dallas Houston Branch
- Federal Reserve Bank of Dallas San Antonio Branch
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 current president is Lorie K. Logan, who assumed office in August 2022.[4] Logan succeeded Robert Steven Kaplan, who resigned in October 2021.[5]
See also
- Federal Reserve Act
- Federal Reserve System
- Federal Reserve Bank
- Federal Reserve Districts
- Federal Reserve Branches
- Structure of the Federal Reserve System
- Federal Reserve Bank of Dallas El Paso Branch
- Federal Reserve Bank of Dallas Houston Branch
- Federal Reserve Bank of Dallas San Antonio Branch
References
- ^ Tracy Alloway (June 20, 2016). "A Quick Trip to the Oil Patch Shows Energy-Related Losses Rising". Bloomberg Markets.
- ^ "Federal Reserve Board - Federal Reserve Bank of Dallas". Board of Governors of the Federal Reserve System. Retrieved 2022-02-07.
- ^ "History of the Dallas Fed". Archived from the original on 2014-06-25.
- ^ "Lorie K. Logan Named President and CEO of Dallas Fed". www.dallasfed.org. Retrieved 2022-05-22.
- ^ "Meredith N. Black, Federal Reserve Bank of Dallas". www.dallasfed.org. Retrieved 2022-02-07.
External links
- Dallas Fed home page
- Map of the District
- v
- t
- e
(Antecedents)
- Aldrich–Vreeland Act (1908)
- National Monetary Commission (1909–1912)
- Federal Reserve Act (1913)
- Pittman Act (1918)
- Edge Act (1919)
- Phelan Act (1920)
- Regulation D (c. 1930)
- Emergency Banking Act (1933)
- Regulation Q (1933)
- Glass–Steagall Act (1933)
- Gold Reserve Act (1934)
- Banking Act of 1935
- Bretton Woods system (1944–1971)
- Employment Act of 1946
- U.S. Treasury Department Accord (1951)
- Bank Holding Company Act (1956)
- FOMC actions (1961–present)
- Truth in Lending Act (1968)
- Nixon shock (1971)
- Smithsonian Agreement (1971)
- Equal Credit Opportunity Act (1974)
- Home Mortgage Disclosure Act (1975)
- Community Reinvestment Act (1977)
- Federal Reserve Reform Act (1977)
- Electronic Fund Transfer Act (1978)
- Humphrey–Hawkins Full Employment Act (1978)
- International Banking Act (1978)
- DIDMC Act (1980)
- Federal Reserve v. Investment Co. Institute (1981)
- Northeast Bancorp v. Federal Reserve (1985)
- Greenspan put (1987)
- Expedited Funds Availability Act (1987)
- FIRRE Act (1989)
- FDIC Improvement Act (1991)
- Gramm–Leach–Bliley Act (1999)
- Subprime mortgage crisis responses (2007–2010)
- Emergency Economic Stabilization Act (2008)
- Unfair or Deceptive Acts or Practices (2008)
- Commercial Paper Funding Facility (2008–2010)
- Primary Dealer Credit Facility (2008–2010)
- Bloomberg v. Federal Reserve (2009)
- 2009 Supervisory Capital Assessment Program
- Term Asset-Backed Securities Loan Facility (2009–2010)
- Public–Private Investment Program for Legacy Assets (2009–)
- Dodd–Frank Act (2010; Durbin amendment)
- Commercial Paper Funding Facility (2020–2021)
- Corner Post v. Federal Reserve (2024)
- Charles S. Hamlin (1914–1916)
- William P. G. Harding (1916–1922)
- Daniel R. Crissinger (1923–1927)
- Roy A. Young (1927–1930)
- Eugene Meyer (1930–1933)
- Eugene R. Black (1933–1934)
- Marriner S. Eccles (1934–1948)
- Thomas B. McCabe (1948–1951)
- William M. Martin (1951–1970)
- Arthur F. Burns (1970–1978)
- G. William Miller (1978–1979)
- Paul Volcker (1979–1987)
- Alan Greenspan (1987–2006)
- Ben Bernanke (2006–2014)
- Janet Yellen (2014–2018)
- Jerome Powell (2018–present)
governors
(by district)
- Susan Collins (Boston)
- John Williams (New York)
- Patrick T. Harker (Philadelphia)
- Loretta J. Mester (Cleveland)
- Thomas Barkin (Richmond)
- Raphael Bostic (Atlanta)
- Austan Goolsbee (Chicago)
- Alberto Musalem (St. Louis)
- Neel Kashkari (Minneapolis)
- Jeff Schmid (Kansas City)
- Lorie Logan (Dallas)
- Mary C. Daly (San Francisco)
32°47′30″N 96°48′01″W / 32.791717°N 96.800162°W / 32.791717; -96.800162