94-1087. Debt Management Advisory Committee; Meeting

[Federal Register Volume 59, Number 11 (Tuesday, January 18, 1994)]
[Unknown Section]
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From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-1087]


[[Page Unknown]]

[Federal Register: January 18, 1994]


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DEPARTMENT OF THE TREASURY

 

Debt Management Advisory Committee; Meeting

    Notice is hereby given, pursuant to 5 U.S.C. App. 10(a)(2), that a 
meeting will be held at the U.S. Treasury Department, 15th and 
Pennsylvania Avenue, NW., Washington, DC, on February 1 and 2, 1994, of 
the following debt management advisory committee:

Public Securities Association
Treasury Borrowing Advisory Committee

    The agenda for the meeting provides for a technical background 
briefing by Treasury staff on February 1, followed by a charge by the 
Secretary of the Treasury or his designate that the committee discuss 
particular issues, and a working session. On February 2, the committee 
will present a written report of its recommendations.
    The background briefing by Treasury staff will be held at 11:30 
a.m. Eastern time on February 1 and will be open to the public. The 
remaining sessions on February 1 and the committee's reporting session 
on February 2 will be closed to the public, pursuant to 5 U.S.C. App. 
10(d).
    This notice shall constitute my determination, pursuant to the 
authority placed in heads of departments by 5 U.S.C. App. 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. 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. 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 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. 552b(c)(9)(A).
    The Office of the Under Secretary for Domestic Finance 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. 552b.

    Dated: January 11, 1994.
Frank N. Newman,
Under Secretary of the Treasury, Domestic Finance.
[FR Doc. 94-1087 Filed 1-14-94; 8:45 am]
BILLING CODE 4810-25-M