; (iii) Treasury bills with a maturity of 90 days or less; (iv) repurchase agreements with a maturity of 7 days or less that are backed by Treasury bills with a maturity of 90 days or less; or (v) central bank reserve deposits; (B) publicly disclose the issuer’s redemption policy; (C) establish procedures for timely redemption of outstanding payment stablecoins; and (D) publish the monthly composition of the issuer’s reserves on the website of the issuer, containing— (i) the total number of outstanding payment stablecoins issued by the issuer; and (ii) the amount and composition of the reserves described under subparagraph (A). (2) Prohibition on rehypothecation Reserves described under paragraph (1)(A) may not be pledged, rehypothecated, or reused, except for the purpose of creating liquidity to meet reasonable expectations of requests to redeem payment stablecoins, such that reserves in the form of Treasury bills may be pledged as collateral for repurchase agreements with a maturity of 90 days or less, provided that either— (A) the repurchase agreements are cleared by a central clearing counterparty that is approved by the primary Federal payment stablecoin regulator; or (B) the permitted payment stablecoin issuer receives the prior approval of the primary Federal payment stablecoin regulator. (3) Monthly certification; examination of reports by registered public accounting firm (A) In general A permitted payment stablecoin issuer shall, each month, have the information disclosed in the previous month-end report required under paragraph (1)(D) examined by a registered public accounting firm. (B) Certification Each month, the Chief Executive Officer and Chief Financial Officer of a permitted payment stablecoin issuer shall submit an certification as to the accuracy of the monthly report to— (i) the primary Federal payment stablecoin regulator