96-189. Departmental Offices; Debt Management Advisory Committee; Meeting

[Federal Register Volume 61, Number 5 (Monday, January 8, 1996)]
[Notices]
[Pages 572-573]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-189]



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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 January 30 and 31, 1996, 
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 January 30, followed by a charge by the 
Secretary of the Treasury or his designate that the committee discuss 
particular issues, and a working session. On January 31, 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 January 30 and will be open to the public. The 
remaining sessions on January 30 and the committee's reporting session 
on January 31 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 

[[Page 573]]
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 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 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. 
Sec. 552b.

    Dated: December 26, 1995.
John D. Hawke, Jr.,
Under Secretary, Domestic Finance.
[FR Doc. 96-189 Filed 1-5-96; 8:45 am]
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