- adjusted Eurodollar rate
USAA method of determining the interest rate in a loan agreement. Eurodollar refers to US currency held in banks outside of the United States that is generally subject to less regulation than deposits of US currency in the United States. The formula for calculating the Adjusted Eurodollar Rate for an interest period is the ratio of Eurodollar rate to 1.00- Eurocurrency reserve requirement. The Adjusted Eurodollar Rate is commonly used in international transactions.For more information on Eurodollar Rate/LIBOR, see Standard Clauses, Loan Agreement: Borrowing Mechanics (www.practicallaw.com/3-383-6717).For links to loan agreement Eurodollar Rate/LIBOR provisions, see Practice Note, What's Market: Eurodollar Rate/LIBOR Interest Rate Provisions (www.practicallaw.com/8-385-8146).
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
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