[Federal Register Volume 68, Number 197 (Friday, October 10, 2003)]
[Notices]
[Page 58750]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-25831]


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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. section 
10(a)(2), that a meeting will be held at the U.S. Treasury Department, 
15th and Pennsylvania Avenue, NW., Washington, DC, on October 28, 2003, 
at 11 a.m. of the following debt management advisory committee: 
Treasury Borrowing Advisory Committee of The Bond Market Association 
(``Committee'').
    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 
section 10(d) and Public Law 103-202, section 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 Public 
Law 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. 55sb(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, 
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 Bitsbergerr, Deputy Assistant Secretary, 
Federal Finance, at (202) 622-2245.

    Dated: October 7, 2003.
Brian C. Roseboro,
Assistant Secretary, Financial Markets.
[FR Doc. 03-25831 Filed 10-9-03; 8:45 am]
BILLING CODE 4810-25-M