; and (B) maintains a current account balance thereafter. (2) Effects of noncrisis movements (A) In general Subject to subparagraph (B), the Board of Governors may take into consideration the minimization of disruptive effects on output, employment, interest rates, and foreign exchange, securities, and asset markets. (B) Limitation The Board of Governors may not adjust the market access charge in reaction to noncrisis movements in the markets described in subparagraph (A). (3) Alternate initial market access charge If, on the date that is 180 days after the date of the enactment of this Act, the Board of Governors has not established the initial rate for the market access charge, the initial market access charge shall be established at the rate of 50 basis points of the value of a covered transaction. (c) Collection and reporting (1) In general The market access charge shall be collected from a covered buyer in a covered transaction as follows: (A) In the case of a covered transaction involving a registered security, the transfer agent shall collect the market access charge. (B) In the case of a covered transaction not involving a registered security and through which a domestic financial institution receives funds from the covered buyer, the domestic financial institution shall collect the market access charge. (C) In the case of any covered transaction not described in subparagraph (A) or (B), the United States person that is the counterparty to the covered buyer or otherwise receives funds from the covered buyer pursuant to the covered transaction shall collect the market access charge. (2) Transfer to Treasury At the end of each month, each person collecting a market access charge under paragraph (1) shall transfer to the Secretary the amount of all market access charges collected by the person during that month in such manner as the Secretary may prescribe. (3) Reporting The Secretary shall require each person collecting a market access charge under paragraph (1) with respect to a covered transaction to keep