Which of the following statements accurately describes the IORB?
1) The IORB is one of the three administered rates.
2) The IORB helps the Fed control the rate at which banks are willing to lend into the money market.
3) Money lent to the Fed at the IORB rates is added to the money supply and circulates in the economy.
4) Deposits paid at the IORB are functionally equivalent to loans.