Comparing the European and the U.S.central bank systems, the Executive Board of the European system resembles:

Question

Quizplus · Accepted Answer

The Executive Board of the European Central Bank (ECB) corresponds to the Board of Governors of the Federal Reserve System in the United States. Both the Board of Governors and the Executive Board have a similar role in setting monetary policy, supervising banks, and regulating the financial system. The Federal Open Market Committee (FOMC) in the United States is responsible for implementing monetary policy decisions, whereas the Executive Board of the ECB has a broader range of responsibilities, including setting interest rates and conducting foreign exchange operations. The Presidents of the regional Federal Reserve Banks in the United States are involved in bank supervision and economic research but do not have a direct role in setting monetary policy. The Chairman of the Board of Governors of the Fed is the head of the institution and represents the Fed in public policy debates but does not have greater decision-making authority than the other Board members.