1. Given the information in Reuters' article (https://www.reuters.com/business/finance/swiss-central-bank-stands-by-equities-boom-drives-franc-2021-09-20/):

(a) What commercial banks account at the Federal Reserve is the equivalent of "site deposits" in Switzerland? Briefly explain.

(b) Why would site deposits tend to increase when the SNB "steps up its currency market purchases to dampen the franc."

(c) The international reserves of many central banks (e.g., the Federal Reserve) tend to be either foreign currency deposits or sovereign bonds. What asset class (e.g., currencies, stocks, bonds, commodities, etc.) is found in the SNB international reserves portfolio that makes it different from other central banks.