Under the European System of Central Banks,the Executive Board is similar in structure to the ________ of the Federal Reserve System.

Question

Quizplus · Accepted Answer

The Executive Board in the European System of Central Banks (ESCB) is responsible for the day-to-day management of the ESCB and is composed of a President, a Vice-President, and four other members appointed by the European Council. Similarly, the Board of Governors in the Federal Reserve System is responsible for the overall management of the Federal Reserve System and is composed of seven members appointed by the President of the United States and confirmed by the Senate. Therefore, the structure of the Executive Board of the ESCB is similar to that of the Board of Governors in the Federal Reserve System.

Under the European System of Central Banks,the Executive Board Is