03-26382. Departmental Offices; Debt Management Advisory Committee Meeting Correction  

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    Notice is hereby given, pursuant to 5 U.S.C. App. 2, § 10(a)(2), that a meeting will be held at the U.S. Treasury Department, 15th and Pennsylvania Avenue, NW., Washington, DC, on November 4, 2003, at 11 a.m. of the following debt management advisory committee:

    Treasury Borrowing Advisory Committee of The Bond Market Association (“Committee”)

    This Notice corrects the date of the meeting shown in the Notice published on October 10, 2003 (68 FR 58750).

    The agenda for the meeting provides for 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 meeting will be closed to the public, pursuant to 5 U.S.C. App. 2, § 10(d) and Pub. L. 103-202, § 202(c)(1)(B)(31 U.S.C. § 3121 note).

    This notice shall constitute my determination, pursuant to the authority placed in heads of agencies by 5 U.S.C. App. 2, Section 10(d) and vested in me by Treasury Department Order No. 101-05, that the meeting will consist of discussions and debates of the issues presented to the Committee by the Secretary of the Treasury and the making of recommendations of the Committee to the Secretary, pursuant to P.L. 103-202, Section 202(c)(1)(B). Thus, this information is exempt from disclosure under that provision and 5 U.S.C. 552b(c)(3)(B). In addition, the meeting is 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 Start Printed Page 59844full 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. 2, Section 3.

    Although the Treasury's final announcement of financing plans may not reflect the recommendations provided in reports of the Committee, premature disclosure of the Committee's deliberations and reports would be likely to lead to significant financial speculation in the securities market. Thus, this meeting falls within the exemption covered by 5 U.S.C. 552b(c)(9)(A).

    Treasury staff will provide a technical briefing to the press on the day before the Committee meeting, following the release of a statement of economic conditions, financing estimates and technical charts. This briefing will give the press an opportunity to ask questions about financing projections and technical charts. The day after the Committee meeting, Treasury will release the minutes of the meeting, any charts that were discussed at the meeting, and the Committee's report to the Secretary.

    The Office of 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. 552(b). The Designated Federal Officer or other responsible agency official who may be contacted for additional information is Tim Bitsberger, Deputy Assistant Secretary, Federal Finance, at (202) 622-2245.

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    Dated: October 14, 2003.

    Brian C. Roseboro,

    Assistant Secretary Financial Markets.

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    [FR Doc. 03-26382 Filed 10-15-03; 2:16 pm]

    BILLING CODE 4810-25-M

Document Information

Published:
10/17/2003
Department:
Treasury Department
Entry Type:
Notice
Document Number:
03-26382
Pages:
59843-59844 (2 pages)
PDF File:
03-26382.pdf