Sentence Correction

The Federal Reserve Board assumes primary responsibility of the regulation for this nation's commercial banks and savings institutions.

(A) Board assumes primary responsibility of the regulation for
(B) Board's assumption of primary responsibility for the regulation of
(C) Board's assuming primary responsibility to regulate
(D) Board assumes primary responsibility for the regulation of
(E) Board regulates primary responsibility for

OA: D


I know that responsible for is correct idiom.
Can somebody explain me the usages of Responsibility for, Responsibility of and Responsibility to.

Thanks,
VK