[Federal Register Volume 68, Number 12 (Friday, January 17, 2003)]
[Notices]
[Pages 2634-2635]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-1115]


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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 February 4, 2003, 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, Sec.  
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. 
103-102, Sec.  202(c)(1)(B). Thus, this information is exempt from 
disclosure under that provision and 5 U.S.C. Sec.  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. 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. 2, 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 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. Sec.  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.


[[Page 2635]]


    Dated: January 13, 2003.
Brian C. Roseboro,
Assistant Secretary, Financial Markets.
[FR Doc. 03-1115 Filed 1-16-03; 8:45 am]
BILLING CODE 4810-25-M