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A method for the on-line calibration of a circuit board trace resistance at the output of a buck converter is described. The input current is measured with a precision resistor and processed to obtain a dc reference for the output current. The voltage drop across a trace resistance at the output is amplified with a gain that is adaptively adjusted to match the dc reference. This method is applied to obtain an accurate and high-bandwidth measurement of the load current in the modern microprocessor voltage regulator application (VRM), thus enabling an accurate dc load-line regulation as well as a fast transient response. Experimental results show an accuracy well within the tolerance band of this application, and exceeding all other popular methods.