The Federal Reserve Bank of New York plays a special role in our central banking system because | - The NY Fed district regulates the most financial assets II - The NY Fed President chairs the FOMC. III - The NY Fed President is always a member of the Board of Governors. IV - Open market operations based on policy directives are performed at the NY trading desk. O I, II, and IV I and IV only O I, II, and III O I, II, III and IV I and II only