and only if those members agree that the proceeds may be exchanged for the currency of any other member without restriction.
Section 2. Availability and transferability of currencies
(a) Currencies paid into the Bank under Article II, Section 7 (I), shall be loaned only with the approval in each case of the member whose currency is involved; provided, however, that if necessary, after the Bank's subscribed capital has been entirely called, such currencies shall, without restriction by the members whose currencies are offered, be used or exchanged for the currencies required to meet contractual payment of interest, other charges or amortization on the Bank's own borrowings, or to meet the Bank's liabilities with respect to such contractual payments on loans guaranteed by the Bank.
(b) Currencies received by the Bank from borrowers or guarantors in payment on account of principal of direct loans made with currencies referred to in (a) above shall be exchanged for the currencies of other members or reloaned only with the approval in each case of the members whose currencies are involved; provided, however, that if necessary, after the Bank's subscribed capital has been entirely called, such currencies shall without restriction by the members whose currencies are offered, be used or exchanged for the currencies required to meet contractual payments of interest, other charges or amortization on the Bank's own borrowings, or to meet the Bank's liabilities with respect to such contractual payments on loans guaranteed by the Bank.
(c) Currencies received by the Bank from borrowers or guarantors in payment on account of principal of direct loans made by the Bank under, Section 1 (a) (II) of this Article, shall be held and used without restriction by the members to make amortization payments, or to anticipate payment of or repurchase part or all of the Bank's own obligations.
(d) All other currencies available to the Bank, including those raised in the market or otherwise borrowed under Section 1 (a) (II) of this Article, those obtained by the sale of gold, those received as payments of interest and other charges for direct loans made under Section 1 (a) (I) and (II), and those received as payments of commissions and other charges under Section 1 (a) (III),
