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19 October 2011

Treasury Holds Secret Meeting with 1% Panel

[Federal Register Volume 76, Number 202 (Wednesday, October 19, 2011)]
[Pages 64992-64993]
From the Federal Register Online via the Government Printing Office []
[FR Doc No: 2011-26422]



Debt Management Advisory Committee; Meeting

    Notice is hereby given, pursuant to 5 U.S.C. App. 2, Sec.  
10(a)(2), that a meeting will be held at the Hay-Adams Hotel, 16th 
Street and Pennsylvania Avenue, NW., Washington, DC, on November 1, 
2011 at 9:30 a.m. of the following debt management advisory committee:

Treasury Borrowing Advisory Committee of the Securities Industry and 
Financial Markets Association

    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 conduct 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, 
Sec.  10(d) and Public Law 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, Sec.  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

[[Page 64993]]

Secretary of the Treasury and the making of recommendations of the 
Committee to the Secretary, pursuant to Public Law 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 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 full advice from representatives of the financial community prior 
to making its final decisions 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 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 and financing estimates. This briefing 
will give the press an opportunity to ask questions about financing 
projections. 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 Debt Management 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 Fred Pietrangeli, Deputy Director for Office 
of Debt Management (202) 622-1876.

    Dated: October 5, 2011.
Mary Miller,
Assistant Secretary, Financial Markets.
[FR Doc. 2011-26422 Filed 10-18-11; 8:45 am]