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English definition of “legal reserves”

legal reserves

noun [plural]
 
 
FINANCE, LAW
the smallest amount of money that financial organizations such as banks must keep to protect themselves against future financial losses, to pay legal fees, etc.: The company will increase its legal reserves by a further $4.95bn to cover the cost of litigation surrounding its role in the dispute.
(Definition of legal reserves from the Cambridge Business English Dictionary © Cambridge University Press)
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