LIBOR Reserve Requirement

LIBOR Reserve Requirement. The then maximum effective rate per annum (expressed as a percentage), as determined solely by the Bank, of reserve requirements imposed by any regulatory body (such as those pursuant to Regulation D of the Board of Governors of the Federal Reserve System) on LIBOR liabilities of U.S. banks having a term to maturity equal to the Interest Period; and as adjusted by the Bank for changes or scheduled changes in such percentage during the Interest Period.