94-8619. Debt Management Advisory Committee Meeting

[Federal Register Volume 59, Number 70 (Tuesday, April 12, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-8619]


[[Page Unknown]]

[Federal Register: April 12, 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. Sec. 10(a)(2), 
that a meeting will be held at the U.S. Treasury Department, 15th and 
Pennsylvania Avenue, NW., Washington, DC, on May 3 and 4, 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 May 3, followed by a charge by the 
Secretary of the Treasury or his designate that the committee discuss 
particular issues, and a working session. On May 4, 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 May 3 and will be open to the public. The 
remaining sessions on May 3 and the committee's reporting session on 
May 4 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 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: April 5, 1994.
Frank N. Newman,
Under Secretary of the Treasury Domestic Finance.
[FR Doc. 94-8619 Filed 4-11-94; 8:45 am]
BILLING CODE 4810-25-M