97-867. Departmental Offices, Debt Management Advisory Committee; Meeting

[Federal Register Volume 62, Number 9 (Tuesday, January 14, 1997)]
[Notices]
[Pages 1949-1950]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-867]


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DEPARTMENT OF THE TREASURY


Departmental Offices, Debt Management Advisory Committee; Meeting

    Notice is hereby given, pursuant to Section 10 of Public Law 92-
463, that a meeting will be held at the Federal Reserve Bank of New 
York at 3:00 p.m. on January 16, 1997, of the following debt management 
advisory committee:

Public Securities Association

[[Page 1950]]

Treasury Borrowing Advisory Committee

    The agenda for the Public Securities Association Treasury Borrowing 
Advisory Committee meeting calls for a discussion by the members of 
their individual views on the appropriate size of the inflation-indexed 
security auction on January 29. The Committee is not being asked to 
make a group recommendation as to the appropriate size of the auction. 
Detailed minutes will be made available on January 21. The short period 
of time between the announcement of the date for the first auction and 
the date of the formal offering announcement of the details of the 
first auction, and the need for the Treasury to hear the views of 
Committee members before proceeding with its offering announcement, 
require that this meeting be held without providing the full fifteen 
days notice.
    Pursuant to the authority placed in Heads of Departments by section 
10(d) of Public Law 92-463, and vested in me by Treasury Department 
Order 101-05, I hereby determine that this meeting is concerned with 
information exempt from disclosure under section 552b(c)(9)(A) of title 
5 of the United States Code, and that the public interest requires that 
such meeting be closed to the public.
    My reasons for this determination are as follows. The Treasury 
Department requires frank and full advice from representatives of the 
financial community prior to making its final decision on major 
financing operations. Historically, this advice has been offered by 
debt management advisory committees established by the several major 
segments of the financial community, which committees have been 
utilized by representatives of the Secretary. When so utilized, such a 
committee is recognized to be an advisory committee under Public Law 
92-463.
    The nature and content of the discussion and individual members' 
recommendations are such that their premature disclosure would likely 
lead to significant speculation in the securities market. Thus, the 
meeting falls within the exemption covered by section 552b(c)(9)(A) of 
title 5 of the United States Code.
    The Office of the Under Secretary (Domestic Finance) shall be 
responsible for maintaining records of debt management advisory 
committee meetings and for providing annual reports setting forth a 
summary of committee activities and such other matters as may be 
informative to the public consistent with the policy of section 552b of 
title 5 of the United States Code.

    Dated: January 9, 1997.
John D. Hawke, Jr.,
Under Secretary Domestic Finance.
[FR Doc. 97-867 Filed 1-13-97; 8:45 am]
BILLING CODE 4810-25-M