# USD-LIBOR-BBA > USD-LIBOR-BBA means the floating rate for U.S. Dollar deposits of a specified maturity on Reuters Screen LIBOR01, two business days prior. **Term:** USD-LIBOR-BBA **Last updated:** 2026-07-29 ## Definition ## What USD-LIBOR-BBA Means in a Contract USD-LIBOR-BBA is a rate definition clause found primarily in loan agreements, credit facilities, and derivative contracts. It identifies the specific benchmark used to calculate the floating component of interest payable on U.S. Dollar denominated obligations. The term references the London Interbank Offered Rate as historically administered and published under the British Bankers' Association framework, hence the BBA suffix, before administration transferred to ICE Benchmark Administration. In practice, when a contract states that interest accrues at USD-LIBOR-BBA plus a margin, it means the lender or counterparty will look up the published screen rate for the relevant tenor, such as one month, three months, or six months, and apply that figure as the base rate. The definition anchors the parties to an objective, externally verifiable number rather than a rate set unilaterally by either party. This mechanism was standard across countless