The Discount Rate Is

The discount rate is

A) the interest rate that commercial banks have to pay for any reserves that they borrow from the non-bank public.
B) the interest rate that commercial banks have to pay to the owners of bank deposits.
C) equal to the nominal interest rate minus the inflation rate.
D) the interest rate that commercial banks pay for reserves that they borrow from the Fed.
E) the interest rate that commercial banks receive for the reserves that they have on reserve at the Fed.