The Group Within the ECB That Has the Analogous Function

question 51

Multiple Choice

The group within the ECB that has the analogous function as the Board of Governors in the Federal Reserve is

• A) the Governing Board.
• B) the Executive Board.
• C) the FOMC.
• D) none of the above.

---

Definitions:

Excess Reserves

Bank reserves exceeding required reserves

Checkable Deposits

Funds kept in bank accounts that can readily be withdrawn by writing a check or using a debit card, making them a highly liquid form of money.

Required Reserve Ratio

The fraction of deposits that regulators require a bank to hold in reserve and not lend out, in order to ensure bank stability and liquidity.

Excess Reserves

The funds that banks hold over and above the legally mandated minimum to safeguard bank liquidity, which can also be lent out.