Under the COVID-19 cancellation policy, If you booked with points and then cancel your trip, is that refunded as a Travel Bank credit? If so, is all of it Travel Bank or just part?

I.e. if I book a flight that is 10,500 pts + $90 taxes, do I have:

1. Travel Bank credit of 10,500 pts + $90 taxes
2. Travel Bank credit of 10,500 pts but $90 goes back to credit card
3. 10,500 points deposited but Travel Bank credit of $90
4. Both 10,500 pts redeposited and $90 back to credit card