Which statement correctly distinguishes funding liquidity from market liquidity?

• A. Funding liquidity refers to ease of trading assets; market liquidity refers to access to cash.
• B. Funding liquidity equals government funding; market liquidity equals central bank funding.
• C. Funding liquidity has no relation to cash or assets.
• D. Funding liquidity is access to cash; market liquidity is the ease of trading assets.

Answer: (D)