As a "Central Bank," Which of the Following Is TRUE

Multiple Choice

As a "central bank," which of the following is TRUE regarding the Fed?
I. The Fed is a public authority that regulates the nation's banks.
II. The Fed is not allowed to provide services to commercial banks like Citibank.
III. The Fed is required to provide banking services to private citizens.

A) I only
B) II only
C) I and II
D) I and III