; or (II) subject to clause (ii), transfer any asset or liability of the issuer in default without any approval, assignment, or consent with respect to such transfer. (ii) Approval by appropriate regulator No transfer described in clause (i)(II) may be made to a payment stablecoin issuer or without the approval of the appropriate payment stablecoin regulator for such issuer. (H) Payment of valid obligations The Corporation, as conservator or receiver, shall pay all valid obligations of the payment stablecoin issuer, as determined by the Corporation. (I) Subpoena authority (i) In general The Corporation may, as conservator, receiver, or exclusive manager and for purposes of carrying out any power, authority, or duty with respect to a payment stablecoin issuer (including determining any claim against the issuer and determining and realizing upon any asset of any person in the course of collecting money due the issuer), exercise any power established under section 8(n) of the Federal Deposit Insurance Act ( 12 U.S.C. 1818(n) ) and the provisions of such section shall apply with respect to the exercise of any such power under this subparagraph in the same manner as such provisions apply under such section. (ii) Authority of board of directors A subpoena or subpoena duces tecum may be issued under clause (i) only by, or with the written approval of, the Board of Directors of the Corporation or their designees. (iii) Rule of construction This subsection shall not be construed as limiting any rights that the Corporation, in any capacity, may otherwise have under section 10(c) of the Federal Deposit Insurance Act ( 12 U.S.C. 1820(c) ). (J) Incidental powers The Corporation may, as conservator or receiver— (i) exercise all powers and authorities necessary to conduct the conservatorship or receivership, respectively, and such incidental powers as shall be necessary to carry out such powers