Suppose that Bank X sells EUR 13m to Bank Y for AUD 23m in the Spot FX market at the prevailing spot rate. They settle the trade via their correspondent banking relationship. Which of the following options accurately describes the changes to each bank's demand deposit accounts and / or balance sheets?

Group of answer choices

A. X's AUD deposit account at Y is increased by 23m and Y's EUR deposit at X is increased by 13m.

B. X's AUD deposit account at Y is increased by 23m and Y's EUR deposit at X is decreased by 13m.

C. X's total assets will increase and Y's total assets will decrease.

D. X's AUD deposit account at Y is increased by 23m and X's EUR deposit at Y is increased by 13m.

E. None of the other answers.