; or (ii) otherwise for a purpose other than winding down the related covered bond program in compliance with this Act, the oversight program, and the related transaction documents. (E) Study on borrowings and credit The Comptroller General of the United States shall conduct a study on whether the Federal reserve banks should be authorized to lend funds or otherwise extend credit to an estate under this paragraph (2) and, if so, what conditions and limits should be established to mitigate any risk that the United States Government could absorb credit losses on the cover pool held by the estate. The Comptroller General shall submit a report to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives on the results of the study not later than 6 months after the date of enactment of this Act. (3) Distributions by estate All payments or other distributions by an estate shall be made at the times, in the amounts, and in the manner set forth in the covered bonds, the related transaction documents, and any contracts executed by or on behalf of the estate in compliance with this subtitle and the oversight program. To the extent that the relative priority of the liabilities of the estate are not specified in or otherwise ascertainable from their terms, distributions shall be made on each distribution date under the covered bonds, the related transaction documents, or any contracts executed by or on behalf of the estate— (A) first, to pay accrued and unpaid superpriority claims under paragraph (2)(B)(ii); (B) second, to pay accrued and unpaid administrative expense claims under paragraph (1)(I), paragraph (2)(B)(ii), section 343(b)(5)(A), or section 343(c)(6)(A); (C) third, to pay— (i) accrued and unpaid claims under the covered bonds and the related transaction documents according to their terms; and (ii) accrued and unpaid pari passu claims under paragraph (2)(B)(ii)