Federal Reserve Bank of Dallas

From MarketsWiki
Jump to navigation Jump to search


HKEX 728x90 v6.gif


Federal Reserve Bank of Dallas
Founded 1914
Headquarters 2200 N. Pearl Street, Dallas
Products Branch of the U.S. Federal Reserve system
Web site http://dallasfed.org/index.cfm

The Federal Reserve Bank Of Dallas is the eleventh district of the Federal Reserve System. Richard Fisher began his duties as the Bank’s 12th president and chief executive officer in 2005.

History[edit]

Frb1.jpg

On October 16, 1914, the first official meeting of the Federal Reserve Bank of Dallas board of directors was held in the Directors’ Room at City National Bank of Dallas, and on November 16, 1914, the Dallas Fed opened for business. Oscar Wells was appointed the first governor (later called president) of the Dallas Fed. R.L. Van Zandt is named the Bank’s first vice president.

Products and Services[edit]

The US Treasury in 1999 selected the Dallas Fed to provide three new services:

  • Along with Reserve Banks in Boston and Minneapolis, the Dallas Fed was chosen to operate a consolidated service center for TreasuryDirect, a program of the Treasury's Bureau of the Public Debt that allows investors to buy securities directly from the Treasury without the need for brokers or banks.
  • The Dallas Fed was selected as the nation's central processor for Treasury coupons.
  • The Treasury chose the Dallas Fed to manage the national Electronic Transfer Account (ETA) program, which targeted millions of federal benefit recipients currently receiving payment by check.

Membership[edit]

Key People[edit]

References[edit]