of the application as complete, as provided under paragraph (3)(B). (c) Supervision Upon authorization as a national payment stablecoin issuer under this section, a depository institution shall be subject to prudential supervision and regulation by the Comptroller or State bank supervisor, as applicable, and the Board, as specified under this Act. (d) Required payment stablecoin assets (1) In general A depository institution that issues a payment stablecoin under this section shall maintain reserves of not less than 100 percent of the nominal value of all outstanding payment stablecoins, as of the end of each business day. (2) Composition of reserves A depository institution may maintain reserves comprised of— (A) United States coins, currency, or other instrument that is legal tender described in section 5103 of title 31, United States Code