In 1914, Dallas was chosen as one of the Federal Reserve branches. This increased the city’s prestige, economic activity and allowed it to influence both national and international monetary policy. How did this fit in with the November 2016 Annual Strategic Opportunities Conference?
Federal Reserve Note Dallas
Dallas residents can be quite proud because their city is proudly displayed on 1 out of every 12 American dollars. The City of Dallas represents the Eleventh Federal District, which includes Louisiana, New Mexico and Texas. This is considered to be the energy center of production in the United States.
The Texas Bankers Association (TBA) was instrumental in encouraging the Fed to choose Dallas over New Orleans. The truth is that New Orleans had been very important as a primary port for cotton export and refining. The TBA encouraged the dredging of Houston for international transport and it has replaced New Orleans over time.
Dallas gains prestige, Federal Reserve workers, influence and access to capital as a branch. It is not only involved in important economic decisions for the nation, but for the world. Many nations depend on the Fed for guidance on monetary policy.
Treasury Notes Management
The Fed and US Treasury have a very close relationship. In fact, the US Treasury officially has the authority to determine which currency will circulate in the country. Over time, the Fed has gradually gained more influence. If you examine your dollar, you will see the Fed seal on one side and the US Treasury seal on the other side.
NexBank can assist with institutional services, like US Treasury Notes. US Treasury Notes are a form of currency for the largest organizations. You can work with NexBank representatives to buy or sell these securities. Dallas has gained global prestige as a Fed branch.