functioning of the carbon permit system. Such regulations shall provide for appropriate publication of the information in the system on the Internet. 9908. Banking and borrowing (a) Banking A carbon permit may be used to meet the compliance obligation requirements of section 9904 for emissions in— (1) the vintage year for the carbon permit, or (2) any calendar year subsequent to the vintage year for the carbon permit in accordance with subsection (b). (b) Reserve The Secretary shall establish a reserve for carbon permits. Carbon permits transferred into the reserve shall be available in the manner determined by the Secretary when the Secretary determines that price point for carbon permits determined under subsection (d) is met and additional carbon permit supply is needed to stabilize the auction price. Permits in the reserve shall be used on a first in, first out basis. (c) Expiration A carbon permit shall not expire unless— (1) it is surrendered to the Secretary under section 9904 or section 9907(a)(3), (2) it has remained in the reserve for 5 years after being transferred into the reserve, or (3) the Secretary determines by regulation that expiration is necessary to ensure the authenticity and integrity of carbon permits or the carbon permit tracking system. (d) Borrowing future vintage year carbon permits (1) In general If the auction price for carbon permits increases by more than 50 percent above the average auction price for carbon permits during the preceding two years (or, if before the third year for which auctions are conducted, the average auction price for carbon permits during the preceding auctions), the Secretary shall auction as many additional carbon permits as are necessary to stabilize the auction price. (2) Special rules (A) Coordination with reserve Additional permits may not be auctioned under paragraph (1) until after all available permits in the reserve for carbon permits established under subsection (b) have been used. (B) Reduction in vintage year permits Any carbon permits made