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Federal Reserve Bank of Dallas

Coordinates: 32°47′30″N 96°48′01″W / 32.791717°N 96.800162°W / 32.791717; -96.800162
From Wikipedia, the free encyclopedia

Federal Reserve Bank of Dallas
Federal Reserve Seal
Headquarters
Headquarters2200 N. Pearl St.
Dallas, Texas, USA
EstablishedMay 18, 1914 (110 years ago) (1914-05-18)
PresidentLorie K. Logan
Central bank of
Eleventh District
Preceded byRobert Steven Kaplan
Websitewww.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 (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]

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.

Board of directors

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Map of the Eleventh District
Former Dallas Fed Presidents Robert D. McTeer (1991–2004, left) and Richard W. Fisher (2005–2015, right)

The following people serve on the Board of Directors as of 2024:[2]

Members of board of directors
Director Title Director
Class[a] 		Term
Expires[b]
Kelly A. Barclay President and Chief Executive Officer, Ozona Bank

Wimberley, Texas

A 2024
Joe Quiroga President, Texas National Bank

Edinburg, Texas

A 2025
Robert A. Hulsey President and Chief Executive Officer, American National Bank of Texas

Terrell, Texas

A 2026
James K. Hill President, James Hill Consulting, and Director, Neeley Center for Real Estate, Texas Christian University

Fort Worth, Texas

B 2024
Cynthia Taylor President and Chief Executive Officer, Oil States International

Houston, Texas

B 2025
Pascal Desroches Senior Executive Vice President and Chief Financial Officer, AT&T

Dallas, Texas

B 2026
Gary C. Kelly Executive Chairman, Southwest Airlines

Dallas, Texas

C 2024
Thomas J. Falk Retired Chairman and Chief Executive Officer, Kimberly-Clark

Dallas, Texas

C 2025
Claudia Aguirre President and Chief Executive Officer, BakerRipley

Houston, Texas

C 2026
Notes:
  1. ^ Class A directors are elected by member banks to represent member banks. Class B directors are elected by member banks to represent the public. Class C directors are appointed by the Federal Reserve Board of Governors to represent the public.
  2. ^ Terms expire on December 31st.

History

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$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

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Current activity

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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]

See also

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References

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  1. ^ Alloway, Tracy (June 20, 2016). "A Quick Trip to the Oil Patch Shows Energy-Related Losses Rising". Bloomberg Markets. Archived from the original on June 21, 2016.
  2. ^ "Federal Reserve Bank of Dallas". Board of Governors of the Federal Reserve System. Archived from the original on February 9, 2025.
  3. ^ "History of the Dallas Fed". www.dallasfed.org. Federal Reserve Bank of Dallas. Archived from the original on June 25, 2014.
  4. ^ "Lorie K. Logan named president and CEO of Dallas Fed". www.dallasfed.org. Federal Reserve Bank of Dallas. May 11, 2022. Archived from the original on May 16, 2022.
  5. ^ Cox, Jeff (May 11, 2022). "Dallas Federal Reserve names Lorie Logan new president to succeed Robert Kaplan". CNBC.com. Archived from the original on May 12, 2022.
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32°47′30″N 96°48′01″W / 32.791717°N 96.800162°W / 32.791717; -96.800162

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