APFIVE Function Of The Official Reserves Account
All of the following statements about the official reserves account are true except:
A
It reflects the Federal Reserve’s actions in buying or selling foreign currencies to maintain equilibrium in the balance of payments.
B
When the U.S. experiences a balance of payments deficit, the Fed credits the official reserves account to balance the overall account.
C
The official reserves account records adjustments by the Fed that create a net imbalance in the balance of payments.
D
The official reserves account is used to offset imbalances between the current and capital accounts.
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