What Is the Federal Reserve Bank of Dallas?
The Federal Reserve Bank of Dallas is one of 12 Federal Reserve Banks, responsible for the 11th Federal Reserve District. Its territory includes the entire state of Texas, 26 parishes in northern Louisiana, and 18 counties in southern New Mexico. Its main office is in Dallas, and it maintains branch banks in Houston, San Antonio, and El Paso, Texas.
- The Federal Reserve Bank of Dallas comprises one of 12 reserve banks in the Federal Reserve System.
- The Dallas Fed serves the 11th Federal Reserve District, which consists of Texas, northern Louisiana, and southern New Mexico.
- Headquartered in Dallas, Texas, branch offices are located in El Paso, Houston, and San Antonio.
Understanding the Federal Reserve Bank of Dallas
The Federal Reserve Bank of Dallas is one of a dozen institutions nationwide whose responsibility is implementing the monetary policy of the Federal Reserve System. Its responsibilities include reviewing price inflation and charting economic growth, as well as regulating the banks within its territory. The bank also provides cash to other banks across the district and monitors electronic deposits.
The president of the Federal Reserve Bank of Dallas is part of a rotation of presidents who, along with the seven governors of the Federal Reserve Board and the president of the Federal Reserve Bank of New York, meet to set open market operations. This is referred to as the Federal Open Market Committee (FOMC).
The Federal Reserve Bank of Dallas manages the United States' Electronic Transfer Account program. Bank notes printed by the Federal Reserve Bank of Dallas are denoted by the mark K11: referring to the 11th district and the fact that K is the 11th letter of the alphabet.
Dallas Fed First Vice President Meredith Black assumed the role of interim president of the Federal Reserve Bank of Dallas on Oct. 9, 2021, replacing former president Robert S. Kaplan, who resigned following scrutiny over his personal stock transactions.
The Dallas Fed's art collection comprises contemporary works, including sculpture, oil and acrylic paintings, photographs, lithographs, collages, and pen and ink drawings. The collection represents a diverse group of artists from Texas, Louisiana, and New Mexico whose expressions reflect the 11th District's historical and cultural diversity.
Responsibilities and Services
The Dallas Fed develops a series of reports on the Texas economy, publishing surveys and analyses and making data available for research about the economy of the Southwest.
It also makes available larger studies on the U.S. and international economies, on topics such as personal consumption expenditures (PCE) inflation, the market value of U.S. government debt, and other white papers on international economic topics.
Because of Dallas' proximity to and dependence on the oil industry, the Fed there devotes resources to energy research, with many articles, surveys, and reports made available for industry leaders, economists, and investors.