I did a Bing search on “council of governors” and came up with references in the UK, Canada, and Australia. Nothing in the U.S. came up.
And .. none of them are a “Republic”.
This came from the White House web site.
I remember reading about this. From our friends at CFR.
But it’s no longer available, so I did a search and found it here.
The Neglected Home Front
By Stephen E. Flynn
The United States should roughly replicate the Federal Reserve model by creating a Federal Security Reserve System (FSRS) with a national board of governors, 10 regional Homeland Security Districts, and 92 local branches called Metropolitan Anti-Terrorism Committees. The objective of this system would be to develop self-funding mechanisms to more fully engage a broad cross-section of American society to protect the country’s critical foundations from the widespread disruption that would arise from a terrorist attack.
This opens up a whole new can of worms.