; and (4) for covering travel expenses of members of the Disaster Insurance Advisory Commission established by section 826. (d) Minimum capital requirement (1) In general The Corporation shall at all times maintain amounts in the reserve account equal to or in excess of the applicable minimum capital level determined under paragraph (2). (2) Establishment of capital levels The Corporation shall establish a series of minimum capital levels appropriate to ensure sufficient capitalization of the Corporation based on the nature and extent of the underwriting, investment, and other risks assumed by the Corporation. The capital levels shall not be effective unless approved by the Administrator. (e) Tax-Exempt status Any amounts deposited in the reserve account, including income derived from the investment of amounts under subsection (c)(2), shall be exempt from all taxation now or hereafter imposed by the United States, or by any State, county, municipality, or local taxing authority. 824. Borrowing authority (a) In general To the extent that the amounts in the reserve fund are insufficient to pay claims and expenses of the Corporation and maintain amounts in accordance with the requirements under section 823(d), the Corporation may issue to the Secretary of the Treasury notes and other obligations to cover the insufficiency. (b) Terms of borrowing The Secretary may purchase obligations issued under subsection (a) only if the President determines that the financial condition of the Corporation is adequate to ensure repayment of the obligations. Such obligations shall have terms and conditions as determined by the Secretary of the Treasury. 825. Initial federal contribution and prohibition of additional federal assistance (a) Authorization of appropriations For purposes of carrying out this title, there is authorized to be appropriated to the Corporation an amount equal to the difference between— (1) the sum of any balances remaining, at the end of September 30, 2019, in the Disaster Relief appropriation and the