Which of the following is an important difference between the ECB and the Fed noted by the textbook?

Group of answer choices

The ECB's day -to-day interaction with financial markets is accomplished by all its national central banks, not just one (as in the U.S.)

the ECB's budget is controlled by the European Parliament (the Fed controls its own budget)

The ECB only supplies reserves by purchases of securities, not by lending.

All of the above

None of the above