Comparing the European and the U.S. central bank systems, the Governing Council of the European system resembles:

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The Governing Council of the European system is most similar to the Federal Open Market Committee (FOMC) in the U.S. central bank system. Both groups are responsible for setting monetary policy and making decisions regarding interest rates and other related factors. The Board of Governors in the U.S. system is responsible for overall supervision and regulation of the banking industry, while the Presidents of the Regional Federal Reserve Banks have a more regional focus. The Chairman of the Board of Governors of the Fed is the top leader of the institution, but does not have the same level of decision-making power as the Governing Council or the FOMC.