[Federal Register Volume 67, Number 134 (Friday, July 12, 2002)]
[Notices]
[Page 46249]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-17503]


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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. 2, 10(a)(2), that 
a meeting will be held at the U.S. Treasury Department, 15th and 
Pennsylvania Avenue, NW., Washington, DC, on July 30, 2002, 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 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. 2, 10(d) and Pub. L. 103-202, 
Sec. 202(c)(1)(B) (31 U.S.C. 3121 note).
    This notice shall constitute my determination, pursuant to the 
authority placed in heads of departments by 5 U.S.C. App. 2, 10(d) and 
vested in me by Treasury Department Order No. 101-05, that the closed 
portions of the meeting are concerned with discussions of the issues 
presented to the Committee by the Secretary and recommendations of the 
Committee to the Secretary, pursuant to Pub. L. 103-202, 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 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 pubic 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. 2, 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 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. 552b. The Designated Federal 
Officer or other responsible agency official who may be contacted for 
additional information is Paul Malvey, Director, Office of Market 
Finance at 202-622-2630.

    Dated: July 9, 2002.
Brian C. Roseboro,
Assistant Secretary, Financial Markets.
[FR Doc. 02-17503 Filed 7-11-02; 8:45 am]
BILLING CODE 4810-25-M