In the classification of currency regimes, a currency board system (CBS) most likely dif
In the classification of currency regimes, a currency board system (CBS) most likely differs from a fixed-rate parity system in that:
A. a CBS has a discretionary target level of foreign exchange reserves.
B. a CBS can peg to a basket of currencies but a fixed-rate system cannot.
C. the monetary authority within a CBS does not act as a traditional lender of last resort.