Which of the following statements is correct? The demand for reserves, drawn as a function of the cash rate, _________________________________.

	A.	has a kink at the deposit facility rate because at that rate the opportunity cost of holding reserves is exactly compensated by the remuneration on the ESA balances.
	B.	is a decreasing function because the commercial banks have to make a choice between borrowing in the interbank market or holding reserves.
	C.	is a decreasing function because the demand for excess reserves takes the interbank rate as the income for holding reserves.
	D.	is affected by the autonomous factors.
	E.	None of the above statement is correct.