; or (2) is in possession or control of a payment stablecoin issued by a payment stablecoin issuer for which the payment stablecoin issuer for which an open account with the issuer is needed to redeem the payment stablecoin. (b) Funding (1) In general A payment stablecoin issuer shall not be charged deposit insurance premiums for the purposes of this section, but the Federal Deposit Insurance Corporation (in this section referred to as the Corporation ) may use the capital of the payment stablecoin issuer and any returns on required payment stablecoin reserves to fund the costs of a receivership or conservatorship. (2) Limitation The Corporation shall not exercise borrowing authority under section 14 of the Federal Deposit Insurance Act ( 12 U.S.C. 1824 ) related to a receivership or conservatorship under this section. (c) Liquidation as closing of payment stablecoin issuer For the purposes of this section, a payment stablecoin issuer shall be deemed to have been closed on account or inability to meet the demands of its customers in any case in which it has been closed for the purpose of liquidation without adequate provision being made for payment of its customers. (d) Appointment of Corporation as conservator or receiver (1) In general Notwithstanding any other provision of Federal law, the law of any State, or the constitution of any State, the Corporation may accept appointment and act as conservator or receiver for a payment stablecoin issuer upon appointment in the manner provided in paragraph (2) or (3). (2) OCC depository institutions (A) Appointment (i) Conservator The Corporation may, at the discretion of the Comptroller, be appointed conservator of a payment stablecoin issuer which is a depository institution chartered by the Comptroller and the Corporation may accept such appointment. (ii) Receiver The Corporation shall be appointed receiver, and shall accept such appointment, whenever a receiver is appointed for the purpose of liquidation or winding up the affairs of a payment stablecoin issuer which