Which one of the following is incorrect?

Select one:

a. Net interest income = Interest income Interest expense

b. Loans sold are used to guarantee the payment for domestically and internationally traded goods

c. Loans and Leases are parts of commercial banks assets

d. Unearned income is income that the bank has received on a loan but has not yet earned nor recorded as income on the income statement Open market operations

e. Derivatives contracts, including swaps and future contracts, are parts of the banks off-balance-sheet