; and (2) nothing in this section shall prevent non-U.S. individuals and entities that are shareholders from receiving equity shares and dividend payments. 6. Oversight and regulation (a) Board of Governors of the Federal Reserve System The Board of Governors of the Federal Reserve System shall have oversight and supervisory authority over the Holding Company and the Bank in order to ensure the safe and sound operation of the Holding Company and the Bank. (b) Secretary of the Treasury The Secretary shall oversee and supervise the issuance of bonds by the Holding Company and the Bank, in order to ensure the safe and sound financing of the Holding Company and the Bank. (c) Consultation The Secretary shall consult with the Board of Governors of the Federal Reserve System and may consult with the Secretary of Transportation and any other head of Federal agency when carrying out the Secretary’s duties under this Act. 7. Infrastructure Guarantee Fund (a) Establishment The Bank shall establish an Infrastructure Guarantee Fund that shall be available for State and local governments and other persons who wish to deposit funds to be used with respect to specific loans or loan guarantees made by the Bank in the event of any non-payment by the recipient of such loan or loan guarantee. (b) Return of funds Any funds described under subsection (a) that are remaining at the time such loans or guaranteed loans are repaid in full shall be returned to the State or local government or other person who deposited the funds. 8. Holding Company and Bank exemption from taxation Effective for taxable years ending on or after the date of enactment of this Act, the Holding Company and the Bank, including franchises, capital, reserves, surplus, advances, and income of the Holding Company or Bank shall be exempt from all taxation imposed by the United States, by any territory, dependency, or possession thereof, or by any State, county, municipal, or local taxing authority, except that any real property of the Holding Company and the Bank