Morgan Stanley and Goldman Sachs, Previously Operating as Independent Investment

Morgan Stanley and Goldman Sachs, previously operating as independent investment banks, converted to bank holding companies (BHC) in late September 2009 during the U.S. Subprime Loan Crisis. A primary reason for their conversion to a BHC includes which of the following:

A) As a bank holding company, the companies would have access to borrowing from the Fed's discount window as a source of liquidity.
B) As BHCs, they would be more closely regulated by the Federal Reserve.
C) As BHCs, they would have higher capital requirements.
D) All of the above.