Consider the following statements about the structure of the Federal Reserve System:

A. The Federal Reserve Board of Governors is made up of seven members, each serving a non-renewable term of 14 years.
B. Regional Federal Reserve Banks are owned by private banks that hold stock in them.
C. The Federal Open Market Committee (FOMC) consists solely of the Board of Governors.
D. Federal Reserve Banks issue new currency notes under the authority of their respective regional bank presidents.
E. The Chairman of the Federal Reserve is appointed by the President of the United States and confirmed by the Senate for a four-year term.

Which of the statements above is/are correct?