Which of the Following Observations Concerning Repurchase Agreements Is Not

Which of the following observations concerning repurchase agreements is not true?

A) They can be viewed as collateralised short-term loans where a financial security is swapped for cash.
B) The repurchase market is a highly liquid and flexible source of funds for DIs needing to access liquidity to offset deposit withdrawals.
C) Repos under the intra-day facility system are discouraged and attract an interest rate charge of 25 basis points above the target cash rate.
D) It is difficult to transact a repurchase agreement borrowing late in the day.