; (B) demand deposits at a depository institution, except that deposits in an insured depository institution shall not exceed the limit of deposit or share insurance available for that account; (C) United States Treasury bills, bonds, or notes with a maturity date of 90 days or less from the date of purchase; and (D) repurchase agreements, with a maturity date of 7 days or less, that are backed by United States Treasury bills with a maturity date of 1 year or less from the date of the repurchase agreement. (g) Custody A non-depository trust company shall be the legal custodian of required payment stablecoin reserves under subsection (f), but the non-depository trust company shall use a depository institution as subcustodian to provide for the safekeeping of reserves. (h) Relation to Gramm-Leach-Bliley Act A non-depository trust company that issues a payment stablecoin under this section shall be deemed to be a financial institution for the purposes of title V of the Gramm-Leach-Bliley Act ( 15 U.S.C. 6801 et seq. ). (i) Rules (1) In general The Board, in consultation with the State bank supervisors and the Financial Crimes Enforcement Network, shall adopt rules to implement this section, including— (A) a simplified capital treatment for non-depository trust companies under this section, which shall be exceed the greater of the projected receivership costs of the non-depository trust company or the projected costs of operation of the non-depository trust company over a 3-year period; (B) appropriate liquidity, interest rate, and risk management standards commensurate with the size of a non-depository trust company; (C) management practices with respect to required payment stablecoin assets; (D) appropriate operational, compliance, and information technology risk management, including Bank Secrecy Act and sanctions compliance