Directions : Which of the phrases (A), (B), (C) and (D) given below should replace the phrase given in bold in the following sentence to make the sentence grammatically meaningful and correct. If the sentence is correct as it is and 'No correction is required', mark (E) as the answer.

Q:

It is the crippling losses suffered by US banks have led to the current economic slump.

• 1
  which have led to
• 2
  that have led
• 3
  leading into
• 4
  have lead to
• 5
  No correction required