Second Quarter 2012Dallas•El Paso•Houston•San Antonio

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11K @

Commemorative Issue Dallas Fed Unveils

The Economy in Action Exhibit

Exhibit K 2

Milestones 11

In Memory of Robert H. Boykin 12

Editor

Angela Kogutt

dEsign/PhotograPhy

Gene Autry

Contributing writEr

Alex Johnson

News@11K is published by thePublic Affairs Department for active and retired employees of theFederal Reserve Bank of Dallas in the Eleventh District. Contact the editor at 214-922-5449 or via email atangela.kogutt@dal.frb.org.

Cover

Dallas Fed opens its public exhibit, The Economy in Action.

Highlights

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Exhibit K Eleven “wow” factors about

The Economy in Action exhibit at Dallas FedBy Alex Johnson

DALLASFED

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A revolving, 12-foot-diameter globe sus-pended from the ceiling. A lit, mirrored pyramid with rotating layers. A nine-screen video wall with talking $20 bills traveling through the Dal-las Fed’s cash processing operations. A giant, interactive touch screen that allows a multidi-mensional inspection of high-tech anticounter-

feiting features in a giant $50 bill.There’s a lot of “wow” in the Dallas Fed’s

new permanent lobby exhibit, The Economy in Action. The new exhibit provides unprece-dented access for Bank visitors to take a journey through the Fed. Here are 11 things you need to know about the new exhibit.

More about Exhibit K Ü

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1It’s Open to the Public

For security reasons, public access to the Dallas Fed has always been limited to prear-ranged tours or scheduled public programs. The new lobby exhibit will allow walk-in visi-tors to experience the Fed during most busi-ness hours. This unprecedented level of access to the Bank allows more people to learn about the Federal Reserve.

Sharon Wallace, Dallas Public Affairs, has fielded many tour requests over the years as the coordinator of the tour program, which was limited to two days a week for preregistered groups of 15 or more.

“There has always been a lot of public in-terest in touring the Bank and seeing our cash operations,” Wallace said. “Because we didn’t have the resources to accommodate individual tours or smaller groups, we’ve had to turn down a lot of people.”

First Vice President Helen Holcomb cuts a commemorative ribbon during the exhibit’s opening event.

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Employees from Museum Arts install the 12-foot-diameter globe in the Bank’s atrium.

It’s Custom BuiltMuseum Arts, the company that

designed and built the exhibit, has been building museums around the country since 1974. Everything in The Economy in Action, from the massive globe hanging in the Bank’s atrium to the walls supporting the exhibits, was hand-crafted by Museum Arts’ fabrica-tion team at its shop in northwest Dallas.

“Everything we build is completely custom,” said Aaron Hines, Museum Arts’ design director. “Many of our designs have never been done before. It starts with a sketch, and then we have to turn that sketch into reality. Sometimes that involves building a prototype before we get it exactly how we envisioned it—as we did with the globe that is the centerpiece of the Dallas Fed’s exhibit.”

Construction of the globe was a com-plex undertaking and provides a unique win-dow into the exhibit’s craftsmanship. After building a model of the globe made of wood, Museum Arts decided the real globe would feature a lightweight, aluminum frame and high-performance, polycarbonate panels. Museum Arts also installed a low-powered motor that rests in the bottom of the globe and drives it one full revolution about every 30 minutes.

Smaller pieces in the exhibit also re-quired intricate handiwork by Museum Arts. For example, in the history exhibits, a map of the United States depicting potential Fed-eral Reserve Districts in 1913 looks simple enough, but actually required hundreds of individual LED lights arranged in an intricate pattern that took several hours to affix to the back of the map.

It’s ComprehensiveThe Bank’s previous tour route on the ground floor featured

limited exhibits about the Bank’s financial services operations and law enforcement. Guests watched the video The Fed Today to get an overview of the Federal Reserve, and employee volunteers served as tour guides to fill in the rest, including the structure of the Fed, monetary policy and banking supervision functions.

The new lobby exhibit includes interactive displays to engage guests as they learn about the structure, purposes and functions of the Fed, the history of money and central banking in the United States, and the diverse regional economy.

“We’re very proud of The Economy in Action exhibit,” Public Af-fairs Officer Laurel Brewster said. “It is one of the most comprehen-sive exhibits in the Federal Reserve System and is the result of a lot of hard work from employees in numerous departments in the Bank.”

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4It’s Interactive

Even the most experienced economists have a hard time explaining the complexities of monetary policy. The Economy in Action uses a mix of low- and high-tech interactive displays to make monetary policy easier to understand.

“Monetary policy is a multifaceted concept, and it’s always a challenge explaining to the public the Fed’s role in setting monetary policy,” said Princeton Williams of the Bank’s Eco-nomic Education unit. “These interactive exhibits are designed to engage visitors and help make monetary policy easier to understand.”

Want to know how inflation affects the average consumer? Turn a knob and you’ll see price changes for items like a football or a dress shirt from the 1950s through the decades.

Want to know how interest rates affect businesses? Pull a lever and see how a change in interest rates affects the number of new locations Joe’s Coffee Shop is willing to open.

There’s even a high-tech, touch-screen trivia game called the FOMC Challenge that tests visitors’ knowledge of monetary policy.

Of course, interactive displays aren’t just limited to the monetary policy section—there are 18 unique hands-on displays spread throughout the exhibit.

Challenge AcceptedStudents take the FOMC

Challenge, an interactive game that tests visitors’ Fed IQ.

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It’s a Work of Art“Our top priority in creating the new

exhibit was for it to serve as a tool for public education and awareness about the Federal Reserve, but aesthetic appeal was also a key objective,” Brewster said. “The Bank’s lobby atrium sits at one of the most visible intersections in Uptown Dallas, offering the world a brief glimpse inside a Federal Reserve Bank. Our team had the challenge of replacing the iconic Sodbuster sculpture with another iconic symbol of what we do here.

“We’ve essentially replaced one great work of art with another,” Brewster said.

The globe and its surrounding 25 etched, acrylic panels are lit by eco-friend-ly LED lights and cast an illuminating glow through the Bank’s windows at night. The panels contain imagery representing the people and economy of the Eleventh District.

Another objective was to blend in with the adjacent Arts District. Astute visi-tors will notice that the red colors in the exhibit match the red color on the build-ings across the street.

The Bank’s lobby atrium

sits at one of the most

visible intersections

in Uptown Dallas,

offering the world a

brief glimpse inside a

Federal Reserve Bank.

–Laurel Brewster,

Public Affairs Officer

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6It’s Historic

With the Federal Reserve’s centennial birthday approaching in 2013, the history of the Federal Reserve is in the spotlight.

The Economy in Action exhibit chronicles the his-tory of money and central banking in the United States, as well as the story behind how Dallas became a site for a Federal Reserve Bank.

The historical currency exhibit from the previous tour route has been moved to the lobby, and three new panels have been added to include additional currency specimens—including ornate silver certificates from the late 19th century and large denomination Federal Reserve notes.

“We have a much larger collection of historical currency than most people realize,” said Public Affairs Officer James Hoard. “We added to the existing exhibit because we wanted to put more of the notes stored in the vault on display. You can learn a lot about the his-tory of the United States through its money.”

In a nod to the Bank’s old tour route, the historic IBM 803 check processing machine makes a return appearance. Used by thousands of Dallas employees over 40 years starting in 1949, the machine processed an estimated 100 million checks.

“The old IBM machine is an important part of the Bank’s operations history and helps tell the story of the evolution of the payments system in the United States,” said Catherine Harper, a Bank tour guide who works in the Dallas office’s Historical Library. “It was always a popular stopping point along the old tour route, and I am happy to see it will continue serving its purpose to educate the public about the important work so many Dallas Fed employees performed for decades.”

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More than 1,000 LED lights illuminate the globe.

It’s Up to YouThere’s no single way to experience The Economy

in Action—it’s all up to the visitor.Exhibit content is layered so that it caters to differ-

ent learning styles. Visual learners might be interested in the videos and interactive displays. Those who pre-fer more in-depth information can read all the exhibit text. A self-guided tour could take 20 minutes or two hours.

It’s Full of InformationThe Economy in Action visitors are sure to learn a

lot about the Federal Reserve. There are 12 stand-alone video productions in the

exhibit. In addition to the video, there are two can’t-miss

multimedia shows in the exhibit. One uses lighting, audio and the “ghost” of a wildcat bank teller to explain the history of central banking in the United States prior to the Federal Reserve.

“If you want people to understand why we need a Federal Reserve System, you should watch this video,” said Hoard. “Many people who have previewed the exhibit have walked away from this show saying, ‘Now I get it. Now I know why we need the Fed.’”

Another multimedia show, featuring a video and a pyramid that lights up and rotates, explains the structure of the Fed.

It’s High-TechHidden behind the walls of the exhibit

is a control room that drives all the high-tech bells and whistles.

It takes 13 computers, five amplifiers and three streaming multimedia players to make the videos, shows and interactive displays a reality. Even more impressive, it can all be controlled through an iPad.

Some of the exhibit’s most amazing high-tech features are found in the cash displays. Visitors can detect counterfeit bills and explore the security features of a $50 bill on a large, interactive touch screen.

“There is no doubt this will be one of the most popular parts of the exhibit, espe-cially with students,” Brewster said.

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A Bank visitor participates in the exhibit’s Beige Book activity.

It’s FunThe new exhibit proves the Fed can be fun. The best example may be the

nine-screen video wall in the cash exhibit.Rather than produce a straightforward video on cash operations, Boston

Productions decided to take a fresh approach. The video chronicles the journey of two $20 Federal Reserve notes, “Old Bill” and “Billy,” as they make their way from a commercial bank to the Dallas Fed’s vault.

Old Bill is the grizzled veteran, having been in and out of Federal Reserve Banks several times. Billy’s the young kid, unsure of what awaits him at the Fed. Of course, Old Bill and Billy take a trip to the Bank’s vault and are eventually pulled out for high-speed processing.

Old Bill is a bit worn and might be shredded. To find out his fate, you’ll have to visit The Economy in Action.

It’s Uniquely Eleventh District

From the moment you enter The Economy in Action and are greeted by Dallas Fed President Richard Fisher (by video, that is), everything you see in the exhibit is uniquely viewed from the eyes of the Eleventh District.

“We especially wanted the multimedia components of this exhibit to represent the economic and cultural melting pot that is the Eleventh District,” Brewster said. “We’ve woven that feel throughout the exhibit.”

Boston Productions, the company re-sponsible for the exhibit’s multimedia, shot video footage across the state of Texas for the project. Bob Noll, the company’s chief creative officer, felt it was important the new exhibit capture the spirit of the Eleventh District and its people.

“Boston Productions has had the honor of working for a number of the Reserve Banks,” Noll said. “In our experience, we have found that each Bank has a unique culture and personality. We thought it so important to make this for and about the Eleventh District, not just about its form and function.”

Production locations included Grand-view Bank, a ranch near San Angelo, the Fort Worth Stockyards, and a variety of busi-nesses in the district, including Texas Instru-ments, Bell Helicopter and Leddy’s Boots.

The exhibit also makes extensive use of Dallas Fed employees. Boston Produc-tions did multiple video shoots at the Bank, featuring employees from a variety of departments. In the exhibit’s video theater, Dallas Fed employees explain in their own words the Federal Reserve’s purposes and functions. You’ll even hear the voices of Dallas Fed employees on the phones in the interactive Beige Book activity in the regional economy exhibit.

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AnniversariesDallas40 YeArsVirginia RodriguezFinancial Management

30 YeArsAl QualmanBank AdministrationVincent TovarFinancial ManagementConnie WestonTreasury Services

25 YeArsLinda DublinHuman ResourcesMargie EvansLegalDonna GonzalezDiscount & CreditJohn LeeCashWilliam OverbeckBanking Supervision

20 YeArsSuzanne BabbIT GroupDesiree Bailey-OrchardLaw Enforcement UnitRaymond ToomerFacility Management & Planning

10 YeArsDoug BurlingameFacility Management & Planning Daion ChristensonStatisticsGary GriffithFacility Management & PlanningMarco RubioCashAnibal VegaLaw Enforcement UnitStephen WainscottIT Group

5 YeArsDavid AlvaradoCashAustin ApplebySalesDebra DanielIT GroupKim HoHuman ResourcesJackie WunDiscount & Credit

el Paso5 YeArsDavid MacKayIT Group

Houston25 YeArsKathryn HebertFinancial Management

10 YeArsJuan RamirezLaw Enforcement UnitPilo SolisFacilities

5 YeArsCorwin BelezaireLaw Enforcement UnitJohn MooreFacilitiesBrandon NeelyLaw Enforcement UnitPhuc NguyenLaw Enforcement Unit

san Antonio5 YeArsTara PaynePublic Affairs

RetirementsDallasVince Covert, 24 yearsBanking Supervision

Bob Hankins, 38 yearsBank Administration

Don Lawrence, 20 yearsFacility Management & Planning

Ken McKee, 30 yearsAudit

Jim Morris, 23 yearsBanking Supervision

Deborah Perkins, 38 yearsStatistics

Henry Soria, 43 yearsPublic Affairs

HoustonEddie Reynolds, 23 years Law Enforcement Unit

In MemoryDallasBeverly Allen (retired ’01)Jimmie Coker(retired ’86)Ruth Lawley (retired ’87)Lucile Shockley (retired ’72)

HoustonMilton Marroquin(active employee)

New Hires

DallasAUDITMatt O’Connor

BANKING SUPERVISIONAjay Babar Tarynn Ecton Hilary Gray Sam Parson Richard Smith Siddu Udayamurthy

COMMUNITY DEVELOPMENTTanya Ferencak

IT GROUP Bridget AmanLonnie Bravo Oliver ChenJohn FabryckiEnat Getachew Adrian Holguin Roy King Winston Smith

FINANCIAL MANAGEMENTMark McMillan

HUMAN RESOURCESKim LuskJohn Nderitu

LAW ENFORCEMENT UNIT Barry Hines

STATISTICSChristina Crum

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MilestonesReported for March through May 2012

10 News@11K n second Quarter 2012

Our missiOn To serve the interests of the American public by informing and influencing our nation’s monetary policy, fostering financial stability and delivering quality services to the United States government and the financial institutions in our region.

obert H. Boykin, former president and CEO of the Federal Reserve Bank of Dallas (1981–91), passed away on June 27, 2012.

As president, Boykin led the Bank and the Texas bank-

ing industry through the banking crisis in the late 1980s. Many participants in the events of that time have commented on the strong leadership he provided, his practical solutions and his direct ap-proach. Boykin was also responsible for developing plans and obtaining approval for the new building currently occupied by the Dallas Fed.

“Since joining the Bank, I have found that Bob is remembered even more for his warm and friendly approach with all employees,” said Richard Fisher, Dallas Fed president. “Many of you have told me of his caring attitude and cordial relation-ships with staff members as well as his relaxed sense of humor. I have my own fond memories of Bob’s warm reception when I first moved to Dallas to open an of-fice for Brown Brothers Harriman & Co. in

1979. He immediately reached out to befriend me, and I consider him a true friend as well as an extraordinarily decent man.”

Born in Carlsbad, N.M., in 1926, Boykin spent his early years in West Texas. Upon his high school graduation in 1943, he enlisted in the U.S. Naval Air Corps with the goal of becom-

ing a fighter pilot. After leaving the military in 1947, he attended the University of Texas, where he received BBA and JD degrees. He was also a graduate of the School of Banking of the South at Louisiana State University.

Boykin joined the Dallas Fed in 1953 as a legal assistant and was promoted to assistant general counsel in 1959. In his nearly 40 years with the Bank, he served in various official capacities—assistant sec-

retary of the board, secretary of the board, assistant vice president, vice president, senior vice president, and as first vice president from December 1976 until 1981. He was appointed president of the Bank in 1981. He held that position until he retired on Jan. 31, 1991.

Boykin served in numerous roles on behalf of the Federal Reserve System, including secretary of the Conference of Presidents of the Federal Reserve Banks from 1963 to 1964, chairman of the Conference of First Vice Presidents in 1980 and chairman of the Conference of Presidents in 1985.

Boykin also served as a member of the advisory council for the School of Management and Administration at the University of Texas at Dallas and as an advisory member of the Dallas Citizens Council. He was a member of the Texas Bar Association and chairman of the Cor-porate Counsel Section of the Dallas Bar Association.

In Memory of

Robert H. Boykin

Dallas Fed President and CEO

1981-1991

R