Abstract: An equalization and precharge circuit precharges and equalizes local input/output (LIO) signal lines between each memory access operation within a memory circuit. The equalization and precharge circuit includes a local voltage circuit which maintains the level of the LIO signal lines at a standby voltage level during standby periods. Preferably, the standby voltage level is approximately equal to half of the supply voltage VCC. Separate precharge and equalization circuits are included to precharge and equalize the LIO signal lines between memory access operations. During precharge periods, a precharge control signal LIOPC is preferably at a logical high voltage level for a predetermined period of time between memory access operations, thereby forming a fixed-width pulse and raising the LIO signals to a known precharge level. The LIO signal lines are charged to a known level equal to the standby voltage level plus a voltage V(t) during the precharge and equalization period.