The Government has also issued a detailed explanation of the monetary agreement concluded on December 24, 1940, between the Javasche Bank and the Yokohama Specie Bank, as a consequence of which, beginning in January 1941, all transactions between the two countries are quoted in Yen and settled through a clearing system, 'The only departure from the former situation is that under the new agreement, only credit balances over a fixed' maximum in favour of one of the contracting parties can be settled in United States dollars, while previously, all transactions were settled in dollars, which remains, however, the basis for the Yen rate—Reuter:
Text read from the printed page and cleaned; old type leaves the occasional error.