The Financial Crisis That Occurred in 2007 and 2008 Highlighted

The financial crisis that occurred in 2007 and 2008 highlighted one of the crucial functions of commercial banks and other financial institutions in developed economies. A crucial function that ceased to work smoothly during this time, and contributed to the global recession that began in 2008, was

A) the joint regulation of financial markets.
B) the provision of credit to firms and households.
C) cheque clearing and collection.
D) the clearing of electronic transfers.
E) the acceptance of deposits from firms and households.