the United States Government or subject to deposit or share insurance shall be a violation of section 18(a)(4) of the Federal Deposit Insurance Act ( 12 U.S.C. 1828(a)(4) ) or section 709 of title 18, United States Code, as applicable. (e) Call report As applicable, the appropriate Federal banking agency or State bank supervisor shall require a depository institution that issues a payment stablecoin to report, in detail, on the composition of the assets and liabilities in each periodic report of condition, or in an alternative format approved by the Federal Financial Institutions Examination Council, at the frequency otherwise required by law. (f) Permission A depository institution shall, as applicable, obtain permission from the appropriate Federal banking agency and State bank supervisor, with an application submitted not less than 6 months before intended issuance of the payment stablecoin, but which may be submitted as part of a charter application. A depository institution under subsection (n)(1)(B) chartered by the Office of the Comptroller of the Currency or a State bank supervisor, consistent with the standards of this section, shall, upon approval by the chartering authority, become a member bank of the Federal Reserve System, and be subject to supervision by the appropriate Federal Reserve bank. As part of an application under this section, a depository institution shall develop a tailored recovery and resolution plan, consistent with the standards adopted under subsection (k)(1)(F), that would permit the orderly resumption of a safe and sound operation or the orderly wind-down of operations in the event of distress, including the redemption of all outstanding payment stablecoins. The application shall also contain a draft customer agreement, flow of funds explanation, a robust information technology plan and operational design of the payment stablecoin. As applicable, the appropriate Federal banking agency or State bank supervisor shall render a written decision, with appropriate findings, on the