Indies Government, to be denominated in francs calculated at the official guilderfranc rate of the day of purchase, and to be issued in amounts of francs equivalent to 400,000 guilders or multiples thereof. (4) Both the guilder and franc Bills shall bear interest at 3 per cent per annum and shall be repayable one year after the conclusion of the war. They may be renewed for two further periods of one year each at the option of either of the contracting Governments. (5) Should the total amount of francs or guilders held by the Javasche Bank or the Banque de France respectively fall below 1 milliard franc or 43 million guilders, such balance shall be reconstituted as far as possible by the sale of Treasury Bills held in the other currency. For this purpose the guilder Treasury Bills shall be repurchasable for francs by the Banque de France and the franc Treasury Bills for guilders by the Javasche Bank, both Central Banks acting for account of their respective Governments. These operations shall be effected at the official rate of the day of repurchase. (6) The francs and the guilders held by the Javasche Bank and the Banque de France respectively, up to the limit of 1 milliard francs and 43 million guilders, shall be invested by either Central Bank in agreement with and through the other Central Bank. (7) Should the Treasury Bills purchased by the Javasche Bank, in accordance with paragraph (2) of this Article, exceed the equivalent of 1 milliard francs in any one year, the Javasche Bank is authorized to sell the excess of such Bills to the Netherlands Government in its capacity as owner of the claims transferred to it under the Royal Decree dated 24 May 1940, in so far as these claims are denominated in guilders as defined by this Agreement, in order to enable that Government to cover its liabilities to the owner. Bills so sold to the Netherlands Government will not be repurcha..sable under paragraph (5) of this Article, and the first amount of Bills so sold to the equivalent of 1 milliard francs in any oni year will be exempted from renewal under paragraph (4) of this Article.
Article 5 (1) Neither Government will ask for a gold security nor for any specific security for the currency obtained by the Banque de France or the Javasche Bank as laid down above. Nor will any request be made for the conversion of these currencies into gold. No 19
