Federal Reserve System,FRB?
Is it true that Federal Reserve System is sometimes called "FRB" although its abbreviation is FRS? I'm NOT talking about Federal Reserve Bank or Federal Reserve Board.
If it's true, please tell me why. Is that only a customary case?
Comments
Yes, the Federal Reserve System is sometimes (incorrectly) referred to as the Federal Reserve Bank (FRB).
Most likely this is because "central bank" is a universal term for the rest of the world. I don't know of another country that calls their Central Bank a "System".
"FRS" would be the accurate abbreviation.