Which of the following is NOT true?

a$.$ Short$-$term debt securities are bought and sold in the money markets.

b$.$ Long$-$term debt and equity securities are bought and sold in the capital markets.

c$.$ Bank loans to companies from deposits the bank holds are example of indirect

financing

d$.$ Suncor Energy recently announced plans to buy back its shares. The share buy back

will take place in the primary market.

e$.$ Minetta Smith has been participating in her company's $($IBM$)$ employee share

purchase plan since her hiring two years ago. She has accumulated $300$ shares which

she intends to sell today to fund a down payment for a home purchase. IBM shares

are currently trading at US$$145\mathrm{.}11.$ The share sale will take place in the secondary

market.