Which of the following statements is true?

a. Unlike in other nations, few separate commercial banks operate in the United States.

b. Financial institutions can create money by making loans.

c. If you go into a bank and borrow $1,000, the bank will probably simply add $1,000 to your checking account at the bank, but the process will not create new money in the banking system.

d. Excess reserves equals actual reserves plus required reserves.