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1. The authorized capital stock of the Bank shall be one billion dollars ($ 1,000,000,000) in terms of United States dollars of the weigth and fineness in effect on 31 January 1966. The dollar wherever referred to in this Agreement shall be understood as being a United States dollar of the above value. The authorized capital stock shall be divided into one hundred thousand (100,000) shares having a par value of ten thousand dollars ($ 10,000) each, which shall be available for subscription only by members in accordance with the provisions of Article 5 of this Agreement.
2. The original authorized capital stock shall be divided into paid-in shares and callable shares. Shares having an aggregate par value of five hundred million dollars ($ 500,000,000) shall be paid-in shares, and shares having an aggregate par value of five hundred million dollars ($ 500,000,000) shall be callable shares.
3. The authorized capital stock of the Bank may be increased by the Board of Governors, at such time and under such terms and conditions as it may deem advisable, by a vote of two-thirds of the total number of Governors, representing not less than three-fourths of the total voting power of the members.