The Federal Reserve Bank of Dallas (informally referred to as the Dallas Fed) is one of the twelve Federal Reserve Banks of the United States. It is responsible for the Eleventh District of the Federal Reserve System, which encompasses Texas, northern Louisiana and southern New Mexico, a region sometimes referred to as the Oil Patch. The district is headquartered in Dallas and has branch offices in El Paso, Houston, and San Antonio. The bank's chief executive officer and president is Lorie K. Logan.
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.
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.
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 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 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. Logan succeeded Robert Steven Kaplan, who resigned in October 2021.
Board of directors
The following people serve on the Board of Directors :
+ Members of board of directors Director Title DirectorClass TermExpiresPresident and Chief Executive Officer, Ozona Bank Wimberley, TexasA2024President, Texas National Bank Edinburg, TexasA2025President and Chief Executive Officer, American National Bank of Texas Terrell, TexasA2026President, James Hill Consulting, and Director, Neeley Center for Real Estate, Texas Christian University Fort Worth, TexasB2024President and Chief Executive Officer, Oil States International Houston, TexasB2025Senior Executive Vice President and Chief Financial Officer, AT&T Dallas, TexasB2026Executive Chairman, Southwest Airlines Dallas, TexasC2024Retired Chairman and Chief Executive Officer, Kimberly-Clark Dallas, TexasC2025President and Chief Executive Officer, BakerRipley Houston, TexasC2026 Notes:
Branches Federal Reserve Bank of Dallas El Paso Branch Federal Reserve Bank of Dallas Houston Branch Federal Reserve Bank of Dallas San Antonio Branch
See also
Federal Reserve Act Structure of the Federal Reserve System
References
External links
Map of the Eleventh District