The primary objective of the Eurosystem is the maintenance of price stability. That institution is independent of instructions from government bodies. It is required to support the Community’s general economic policy only insofar as that is possible without endangering the objective of price stability. That is a not entirely insignificant difference from the duties assigned to the Fed system.
BIS Review 130/1999  2  The decision-making bodies of the Eurosystem are the Governing Council and the Executive Board. The Governing Council, comprising six members of the Executive Board of the ECB and 11 Governors of the national central banks, formulates the monetary policy of the Community.