Interest on reserves (IOR) is best described as:
a. The interest rate banks pay for borrowing in the fed funds market
b. The interest rate banks receive for reserves on deposit at Fed district banks
c. The interest rate banks pay for overnight reverse repurchase agreements
d. The interest rate banks receive for lending to qualified borrowers
a. The interest rate banks pay for borrowing in the fed funds market
b. The interest rate banks receive for reserves on deposit at Fed district banks
c. The interest rate banks pay for overnight reverse repurchase agreements
d. The interest rate banks receive for lending to qualified borrowers