On 2001-12-02 Wind crossed the dayside magnetopause (MP) at ~15 MLT and traversed the adjacent low-latitude boundary layer (LLBL) over a period of 2 hours. The IMF was steady (northward and dawnward) during the MP/LLBL encounter. Reconnection flows were observed in the MP that were directed 130¿ away from the magnetosheath flow direction. In contrast, the LLBL flow was aligned with the magnetosheath flow. The counterstreaming field-aligned and anti-field-aligned electrons have different energies and their fluxes are unbalanced in the open MP whereas they are precisely balanced throughout most of the LLBL indicative of a closed LLBL. These observations indicate that reconnection occurs at the low-latitude MP during northward IMF (with a significant By), but low-latitude reconnection is not responsible for the creation of the LLBL. Instead, reconnection appears to be in the process of eroding a pre-existing LLBL that was created either by diffusive entry or by non-simultaneous double-cusp reconnection.