Which of the Below Statements Is FALSE

Which of the below statements is FALSE?

A) At one time, thrifts were permitted to accept deposits transferable by check (negotiable) , or, as they are more popularly known, checking accounts.
B) Depository institutions are highly regulated because of the important role that they play in the country's financial system.
C) Demand deposit accounts are the principal means that individuals and business entities use for making payments, and government monetary policy is implemented through the banking system.
D) Securities held for the purpose of satisfying net withdrawals and customer loan demands are sometimes referred to as secondary reserves.