Which of the following statements isNOT TRUEwith respect to the federal funds rate?

A.Many market participants view changes in the federal funds rate to be an indicator of potential changes in other money market rates.

B. The federal funds rate is closely monitored by all types of firms.

C. It isa rate that is determined on a case-by-case basis as individual participating banks negotiate the lending arrangements.

D It is influenced by the supply and demand for funds in the federal funds market.