In its role as a banker for banks, the Fed:
A. regulates the total amount of money within the overall economy.
B. reduces the discount rate so that banks can obtain funds at a lower cost.
C. performs open market operations, which involve buying and selling government securities, which include treasury bonds, notes, and bills.
D. coordinates the check-clearing process for checks on behalf of any banks that are willing to pay its fees.
Answer: D
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