Which of the following is the major source of income for commercial banks (except "money center" commercial banks) ?

A.

Interest rate spread --- the difference between what banks earn from their assets (mainly interest) and what they pay on their liabilities (again mainly interest).

B.

Fee income --- income generated by activities without putting banks' balance sheet at risk.

C.

Capital gain --- profit by selling assets at a price higher than their purchase price.

D.

None of the above