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This protocol is an integral part of the "Payments Agreement between the Netherlands and Switzerland" of 24 October 1945.

The provisions of Article 1, 2, 8, 9, 10 and 11 of that Agreement are applicable to non-commercial payments as regulated in the following Articles.

In order to ensure non-commercial payments from the Netherlands to Switzerland, the Nederlandsche Bank shall use Swiss francs sold to it against gulden by the Banque Nationale Suisse. In order to ensure non-commercial payments from Switzerland to the Netherlands, the Banque Nationale Suisse shall use gulden sold to it by the Nederlandsche Bank against Swiss francs.

All the payments specified in Article 6, if they are approved for transfer from one country to the other, shall be effected through the medium of an account to be known as the "financial" account which each bank of issue shall open in its books and in its own currency for the other, or through the medium of the financial accounts which the approved Netherlands and Swiss banks shall be authorized to open.

The two banks of issue may allocate to the approved banks of their country, as a reserve, such currency of the other contracting country as they may need to ensure the payments specified in Article 6 hereunder.

The approved banks may also use for the same payments their assets in financial accounts with the approved banks of the other contracting country, may pay them into the financial account of the bank of issue of their own country or into that of an approved bank of their own country.

The competent authorities of each country shall ensure that only the payments enumerated in Article 6 hereunder are transferred through the medium of financial accounts.

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