56. Consider the following four statements:

• Banks share of assets of all financial institutions has increased after deregulation.
• Banks involvement in market-rate-related contracts forms a large part of their off-balance-sheet business.
• If a bank discounts a bank bill drawn by a client into the marketplace, then it may also sell the bill to another party.
• To improve the quality of their assets, the major banks may purchase more Commonwealth securities.

How many of these statements are true and how many are false?

Select one:

a. 1 statement is true and 3 are false

b. 2 statements are true and 2 are false

c. 3 statements are true and 1 is false

d. no statements are true and 4 are false