99-970. Departmental Offices; Debt Management Advisory Committee Meeting

[Federal Register Volume 64, Number 10 (Friday, January 15, 1999)]
[Notices]
[Pages 2703-2704]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-970]


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DEPARTMENT OF THE TREASURY


Departmental Offices; Debt Management Advisory Committee Meeting

    Notice is hereby given, pursuant to 5 U.S.C. App. Sec. 10(a)(2), 
that a meeting will be held at the U.S. Treasury Department, 15th and 
Pennsylvania Avenue, NW., Washington, DC, on February 2, 1999, of the 
following debt management advisory committee:

The Bond Market Association
Treasury Borrowing Advisory Committee

    The agenda for the meeting provides for a technical background 
briefing by Treasury staff, followed by a charge by the Secretary of 
the Treasury or his designate that the committee discuss particular 
issues, and a working session. Following the working session, the 
committee will present a written report of its recommendations.
    The background briefing by Treasury staff will be held at 9:00 a.m. 
Eastern time and will be open to the public. The remaining sessions and 
the committee's reporting session will be closed to the public, 
pursuant to 5 U.S.C. App. Sec. 10(d).
    This notice shall constitute my determination, pursuant to the 
authority placed in heads of departments by 5 U.S.C. App. Sec. 10(d) 
and vested in me by Treasury Department Order No. 101-05, that the 
closed portions of the meeting are concerned with information that is 
exempt from disclosure under 5 U.S.C. Sec. 552b(c)(9)(A). The public 
interest requires that such meetings be closed to the public because 
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. When so utilized, 
such a committee is recognized to be an advisory committee under 5 
U.S.C. App. Sec. 3.
    Although the Treasury's final announcement of financing plans may 
not reflect the recommendations provided in reports of the advisory 
committee, premature disclosure of the committee's deliberations and 
reports

[[Page 2704]]

would be likely to lead to significant financial speculation in the 
securities market. Thus, these meetings fall within the exemption 
covered by 5 U.S.C. Sec. 552b(c)(9)(A).
    The Office of the Assistant Secretary for Financial Markets is 
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 5 U.S.C. 
Sec. 552b.

    Dated: January 11, 1999.
Gary Gensler,
Assistant Secretary (Financial Markets).
[FR Doc. 99-970 Filed 1-14-99; 8:45 am]
BILLING CODE 4810-25-M