Which of the following statements is INCORRECT?

Select one:

a.

Call and demand deposits are a stable source of funds for banks.

b.

A current account deposit is one of the most liquid instruments offered by banks.

c.

Banks generally have more equity than debt.

d.

A bank, as an acceptor of a bill of exchange, has to pay the face value of the bill to the bill holder at maturity.

e.

Negotiable certificates of deposit are banks' liabilities.