to the powers conferred and the duties related to the exercise of such powers imposed by State law on any conservator or receiver appointed under the law of such State, the Corporation, as conservator or receiver pursuant to an appointment described in subparagraph (A), shall have the powers conferred and the duties imposed by this section on the Corporation as conservator or receiver. (C) Corporation not subject to any other agency When acting as conservator or receiver pursuant to an appointment described in subparagraph (A), the Corporation shall not be subject to the direction or supervision of any other agency or department of the United States or any State in the agency or department of the United States or any State in the exercise of its rights, powers, and privileges. (D) Issuer in conservatorship subject to banking agency supervision Notwithstanding subparagraph (C), a State-chartered payment stablecoin issuer for which the Corporation has been appointed conservator shall remain subject to the supervision of the State bank supervisor. (4) Grounds for appointing conservator or receiver The grounds for appointing a conservator or receiver (which may be the Corporation) for a payment stablecoin issuer are as follows: (A) Assets insufficient for obligations The issuer’s assets are less than the issuer’s obligations to its creditors and others. (B) Substantial dissipation Substantial dissipation of assets or earnings due to— (i) any violation of any statute or regulation