Federal Reserve Bank of Dallas

Last updated
Federal Reserve Bank of Dallas
Federal Reserve Bank of Dallas 1.jpg
General information
Status Complete
Address 2200 North Pearl Street
Construction started 1989
Completed 1992
Height
Architectural 223 ft
Technical details
Floor count 17
Lifts/elevators 9
Design and construction
Architect Kohn Pendersen Fox Associates
Map of the Eleventh District Dallas Fed map.PNG
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.

Texas State of the United States of America

Texas is the second largest state in the United States by both area and population. Geographically located in the South Central region of the country, Texas shares borders with the U.S. states of Louisiana to the east, Arkansas to the northeast, Oklahoma to the north, New Mexico to the west, and the Mexican states of Chihuahua, Coahuila, Nuevo León, and Tamaulipas to the southwest, while the Gulf of Mexico is to the southeast.

Louisiana State of the United States of America

Louisiana is a state in the Deep South region of the South Central United States. It is the 31st most extensive and the 25th most populous of the 50 United States. Louisiana is bordered by the state of Texas to the west, Arkansas to the north, Mississippi to the east, and the Gulf of Mexico to the south. A large part of its eastern boundary is demarcated by the Mississippi River. Louisiana is the only U.S. state with political subdivisions termed parishes, which are equivalent to counties. The state's capital is Baton Rouge, and its largest city is New Orleans.

New Mexico State of the United States of America

New Mexico is a state in the Southwestern region of the United States of America; its capital and cultural center is Santa Fe, which was founded in 1610 as capital of Nuevo México, while its largest city is Albuquerque with its accompanying metropolitan area. It is one of the Mountain States and shares the Four Corners region with Utah, Colorado, and Arizona; its other neighboring states are Oklahoma to the northeast, Texas to the east-southeast, and the Mexican states of Chihuahua to the south and Sonora to the southwest. With a population around two million, New Mexico is the 36th state by population. With a total area of 121,592 sq mi (314,920 km2), it is the fifth-largest and sixth-least densely populated of the 50 states. Due to their geographic locations, northern and eastern New Mexico exhibit a colder, alpine climate, while western and southern New Mexico exhibit a warmer, arid climate.

Contents

Board of Directors

Former Dallas Fed Presidents Robert D. McTeer (1991-2004, left) and Richard W. Fisher (2005-2015, right) FRS DALLAS cent grp 121613 0573 02832 (14079998541).jpg
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 2014: [2]

Class A

Elected by member banks to represent member banks

Class A
NameTitleTerm Expires
J. Russell ShannonChief 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 RasmussenPresident and Chief Executive Officer
HomeTown Bank, N.A.
Galveston, Texas
2015

Class B

Elected by member banks to represent the public

Class B
NameTitleTerm Expires
Curt AnastasioRetired President and CEO
NuStar Energy L.P.
San Antonio, Texas
2017
Jorge A. BermudezPresident and Chief Executive Officer
Byebrook Group
College Station, Texas
2015
Ann B. SternPresident and Chief Executive Officer
Houston Endowment Inc.
Houston, Texas
2016

Class C

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

Federal Reserve Board of Governors governing body of the Federal Reserve System

The Board of Governors of the Federal Reserve System, commonly known as the Federal Reserve Board, is the main governing body of the Federal Reserve System. It is charged with overseeing the Federal Reserve Banks and with helping implement the monetary policy of the United States. Governors are appointed by the President of the United States and confirmed by the Senate for staggered 14-year terms.

Class C
NameTitleTerm Expires
Matthew K. RoseExecutive 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. US-$20-FRBN-1915-Fr.828.jpg
$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

The 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. Main St.

Federal Reserve Bank of Dallas Houston Branch

The Reserve Bank of Dallas Houston Branch is one of three branches of the Federal Reserve Bank of Dallas. The branch is located on Allen Parkway in the Fourth Ward of Houston, Texas. The 297,000-square-foot (27,600 m2) building, which includes the second largest currency vault in the country, was designed by architect Michael Graves.

The Federal Reserve Bank of Dallas San Antonio Branch is one of three branches of the Federal Reserve Bank of Dallas. The branch is located at 402 Dwyer, San Antonio, Texas.

Current Activity

US-Treasury-ElectronicTransferAccount-Logo.svg

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.

Maquiladora

A maquiladora ([makilaˈðoɾa]), or maquila, is a company that allows factories to be largely duty free and tariff free. These factories take raw materials and assemble, manufacture, or process them and export the finished product. These factories and systems are present throughout Latin America including Mexico, Nicaragua and El Salvador. Specific programs and laws have made Mexico’s maquila industry grow rapidly.

Robert Steven Kaplan is president and CEO of the Federal Reserve Bank of Dallas. He was appointed to the position on September 8, 2015.

Richard W. Fisher American businessman

Richard W. Fisher is the former President and CEO of the Federal Reserve Bank of Dallas, having assumed that post in April 2005 and retired in 2015. He is now Senior Advisor to Barclays Plc and a Director of PepsiCo. He is Senior Contributing Editor for CNBC. From 2011-17 he served on the Harvard Board of Overseers.

See also

Related Research Articles

Interstate 10 Interstate across southern US

Interstate 10 (I-10) is the southernmost cross-country Interstate Highway in the American Interstate Highway System. It stretches from the Pacific Ocean at California State Route 1 in Santa Monica, California, to I-95 in Jacksonville, Florida. Major cities connected by I-10 include Los Angeles, Phoenix, Tucson, El Paso, San Antonio, Houston, Baton Rouge, New Orleans, Mobile, Pensacola and Jacksonville. This freeway is part of the originally planned Interstate Highway network that was laid out in 1956, and its last section was completed in 1990. I-10 is the fourth-longest Interstate Highway in the United States, following I-90, I-80, and I-40. About one-third of its length is within the state of Texas, where the freeway spans the state at its widest breadth.

Texas International Airlines Inc. was a United States airline, known from 1944 until 1947 as Aviation Enterprises, until 1969 as Trans-Texas Airways (TTa), and as Texas International Airlines until 1982 when it merged with Continental Airlines. It was headquartered near William P. Hobby Airport in Houston, Texas.

Federal Reserve Bank of San Francisco

The Federal Reserve Bank of San Francisco is the federal bank for the twelfth district in the United States. The twelfth district is made up of nine western states—Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah, and Washington—plus the Northern Mariana Islands, American Samoa, and Guam. The San Francisco Fed has branch offices in Los Angeles, Portland, Salt Lake City, and Seattle. It also has a cash processing center in Phoenix.

Foley's was a chain of department stores owned by May Department Stores and headquartered in Downtown Houston, Texas. As of August 30, 2005, the division was dissolved and operation of the stores was assumed by Federated's Macy's West and Macy's South divisions. Foley's operated stores in Texas, Colorado, Louisiana, Arizona, Oklahoma and New Mexico. On September 9, 2006 Foley's and all the regional May Co. stores names were phased out and rebranded as Macy's.

United States Military Entrance Processing Command

The United States Military Entrance Processing Command (USMEPCOM) is a Major Command of the U.S. Department of Defense, which screens and processes applicants into the United States Armed Forces. USMEPCOM is headquartered in North Chicago, Illinois and operates 65 Military Entrance Processing Stations (MEPS) located throughout the United States. The command's motto is Freedom's Front Door, signifying that a service member's career starts when they walk through the doors of the MEPS.

Federal Reserve Bank of Boston

The Federal Reserve Bank of Boston, commonly known as the Boston Fed, is responsible for the First District of the Federal Reserve, which covers New England: Maine, Massachusetts, New Hampshire, Rhode Island, Vermont and all of Connecticut except Fairfield County. It is headquartered in a distinctive 614-foot (187 m) tall, 32-story Federal Reserve Bank Building at 600 Atlantic Avenue, Boston. Designed by architecture firm Hugh Stubbins & Associates, the tower portion of the building is suspended between two towers on either side.

Federal Reserve Bank of Richmond

The Federal Reserve Bank of Richmond is the headquarters of the Fifth District of the Federal Reserve located in Richmond, Virginia. It covers the District of Columbia, Maryland, North Carolina, South Carolina, Virginia, and most of West Virginia excluding the Northern Panhandle. Branch offices are located in Baltimore, Maryland and Charlotte, North Carolina. Thomas Barkin became president of the Richmond Fed following the retirement of Jeffrey M. Lacker in April 2017. The previous president, J. Alfred Broaddus, retired in 2004.

Federal Reserve Bank of Atlanta building in Georgia, United States

The Federal Reserve Bank of Atlanta,, is the sixth district of the 12 Federal Reserve Banks of the United States and is headquartered in midtown Atlanta, Georgia.

Walter P. Moore and Associates, Inc. is an international company providing structural engineering, diagnostics, civil engineering, traffic engineering, parking consulting, transportation engineering, Intelligent Transportation Systems (ITS) engineering, and water resources engineering services. Headquartered in Houston, Texas, the firm employs more than 500 professionals and operates 15 U.S. and 5 international offices.

Interstate 10 (I-10) is the major east–west Interstate Highway in the Southern United States. In the U.S. state of Texas, it runs east from Anthony, at the border with New Mexico, through El Paso, San Antonio and Houston to the border with Louisiana in Orange, Texas. At just under 880 miles (1,420 km), the Texas segment of I-10, maintained by the Texas Department of Transportation, is the longest continuous untolled freeway in North America that is operated by a single authority,. It is also the longest stretch of highway with a single designation within a single state. Mile marker 880 and its corresponding exit number in Orange, Texas, are the highest numbered mile marker and exit on any freeway in North America. After widening was completed in 2008, a portion of the highway west of Houston is now also believed to be the widest in the world, at 26 lanes. There is a wider section in China on the G4 Beijing–Hong Kong–Macau Expressway; however, that section is a toll plaza approach.

Fox Sports Southwest

Fox Sports Southwest is an American regional sports network that is owned by Fox Cable Networks, a unit of the Fox Entertainment Group division of 21st Century Fox, and operates as an affiliate of Fox Sports Networks. The channel broadcasts regional coverage of professional, collegiate and high school sports events throughout the South Central United States. The network is headquartered in the Dallas-Fort Worth suburb of Irving, Texas, with master control hubbed at Fox Sports Networks' operations center in Houston, which houses master control operations for its regional networks in the central United States.

The Mexican American Legislative Caucus is a 501(c)(6) non-profit, non-partisan organization composed of members of the Texas House of Representatives committed to addressing issues of particular importance to Latinos across the state.

The Federal Reserve Bank of Cleveland Pittsburgh Branch Office is one of two Federal Reserve Bank of Cleveland branch offices. The Pittsburgh Office of the Federal Reserve Bank of Cleveland hosts one of two savings bonds processing sites in the nation. The Pittsburgh branch presides over Jefferson, Monroe and Belmont counties in Ohio, Wetzel, Tyler, Pleasants, Marshall, Ohio, Brooke and Hancock counties in West Virginia, and all of Western Pennsylvania. In 1915 it was revealed that the Pittsburgh branch location was to be the new home of a relocated Cleveland Fed District with a majority vote secured on the board of governors, but the U.S. Attorney General at the time nixed moving the Cleveland, Kansas City, Minneapolis, Boston and Atlanta Federal Reserve Districts, stating that it would instead take an act of Congress to move those district headquarters. Pittsburgh remained a branch location only.

Federal Reserve Bank Building (Seattle) bank building in Seattle, Washington

The Federal Reserve Bank Building, also known as the Federal Reserve Bank of San Francisco, Seattle Branch, served as the offices of the Seattle branch of the Federal Reserve Bank of San Francisco for over 50 years, from 1951 to 2008.

The Louisiana Eagle was a long distance night train operated by the Texas and Pacific Railway that from New Orleans to Fort Worth, Texas. The route was distinct in contrast to other routes running west from New Orleans to major Texas cities. It ran northwest-ward from New Orleans to northwest Louisiana and to the major North Texas cities of Dallas and Fort Worth with continuing service to El Paso on the Missouri Pacific's Texas Eagle, whereas other east-west trains from New Orleans into Texas went to the south, to Houston and San Antonio.

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 https://web.archive.org/web/20140625052708/http://www.dallasfed.org/fed/bod/index.cfm. Archived from the original on 2014-06-25.Missing or empty |title= (help)
  3. "History of the Dallas Fed". Archived from the original on 2014-06-25.

Coordinates: 32°47′30″N96°48′01″W / 32.791717°N 96.800162°W / 32.791717; -96.800162