Each of the following is a true statement EXCEPT which is FALSE?
A) While all four are sub-types of market risks, commodity price risk is uniquely different from equity price risk, interest rate risk and foreign exchange risk
B) VaR is optimal for market risk but is poorly designed for credit and operational risk, and VaR cannot realistically play a role in enterprise risk and economic capital metrics, where elliptical properties are desirable
C) Systemic risk was a focus of the Dodd-Frank Act and refers to the potential for the failure of one institution to create a chain reaction or domino effect on other institutions and consequently threaten the stability of financial markets
D) Liquidity has two versions: funding liquidity risk which increases with balance sheet leverage and can be exploited by variation margin, and trading liquidity risk (aka asset liquidity risk) which is measured by tightness (eg bid ask spread) and market depth/breadth